Common use of ANNUAL CAP Clause in Contracts

ANNUAL CAP. Subject to the provisions of the Agreement, the Grant is to be paid in annual instalments which shall not exceed the Annual Cap for each Fiscal Year. The Annual Cap for each Fiscal Year is the maximum amount specified below: (a) Fiscal Year 1 - $250,000; (b) Fiscal Year 2 - $200,000; (c) Fiscal Year 3 - $425,000; (d) Fiscal Year 4 - $325,000; and (e) Fiscal Year 5 - $300,000 (being the Performance Payment).

ANNUAL CAP. Subject to the provisions of the Agreement, the Grant is to be paid in annual annu- al instalments which shall not exceed the Annual Cap for each Fiscal Year. The Annual Cap for each Fiscal Year is the maximum amount specified below: (a) Fiscal Year 1 - $250,000241,000; (b) Fiscal Year 2 - $200,000;723,000; and (c) Fiscal Year 3 - $425,000; (d) Fiscal Year 4 - $325,000; and (e) Fiscal Year 5 - $300,000 241,000 (being the Performance Payment).

ANNUAL CAP. Subject to the provisions of the Agreement, the Grant is to be paid in annual instalments which shall not exceed the Annual Cap for each Fiscal Year. The Annual Cap for each Fiscal Year is the maximum amount specified below: (a) Fiscal Year 1 - $250,000241,000; (b) Fiscal Year 2 - $200,000;723,000; and (c) Fiscal Year 3 - $425,000; (d) Fiscal Year 4 - $325,000; and (e) Fiscal Year 5 - $300,000 241,000 (being the Performance Payment).