Common use of Annual Incentive Payments to the Company Clause in Contracts

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty percent (20%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Hundred Sixty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty seventeen percent (2017%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Million Six Hundred Sixty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.001,665,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty fifteen percent (2015%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Seven Hundred SixtyFifty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.00755,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty percent (20%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Nine Hundred SixtyFifty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.00955,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty twelve percent (2012%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Forty-Three Thousand Three Hundred Sixty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0043,300.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of any payroll withholding tax refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty eighteen percent (2018%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Hundred Sixty-Five Ninety Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0090,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty ten percent (2010%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Hundred SixtyFifty-Five Three Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0053,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty eight percent (208%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Eighteen Thousand Six Hundred Sixty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0018,600.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(d)), an amount equal to the product of (A) the difference between (I) an amount equal to the Actual Withholdings for that preceding calendar year minus (II) an amount equal to the Base Withholdings (if such difference is less than zero dollars, then for purposes of this computation, that difference shall equal zero dollars), multiplied by (B) twenty fifteen percent (2015%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Hundred Sixty-Five Ten Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0010,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty twelve percent (2012%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Hundred SixtyFifty-Five Seven Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0057,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty percent the applicable Incentive Factor (20%as defined in subsection 2(b)(v)) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Hundred Sixty-Five Twenty Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.00120,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty ten percent (2010%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed One Hundred Sixty-Five Seven Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0067,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(vi)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty percent the Incentive Factor for that calendar year (20%as defined in subsection 2(c)(vi)) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(vi)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Two Million Four Hundred Sixty-Five Thousand and 00/100 Dollars ($165,000.002,400,000.00), and if the requirements of subsection 2(b)(vi2(c)(vii) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed Three Four Million Four Hundred Thousand and 00/100 Dollars ($300,000.004,400,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the difference between (I) an amount equal to the Actual Withholdings for that preceding calendar year minus (II) an amount equal to the Base Withholdings for that preceding calendar year (if such difference is less than zero dollars, then for purposes of this computation, that difference shall equal zero dollars), multiplied by (B) twenty fifteen percent (2015%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Hundred SixtySeventy-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0075,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(vi)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty percent the Incentive Factor for that calendar year (20%as defined in subsection 2(c)(vi)) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(vi)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Two Million ThreeFour Hundred Sixty-Five Thousand and 00/100 Dollars ($165,000.002,300,000$2,400,000), and if the requirements of subsection 2(b)(vi2(c)(vii) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed Three Four Million ThreeFour Hundred Thousand and 00/100 Dollars ($300,000.004,300,000$4,400,000).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty eighteen percent (2018%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Hundred SixtyEighty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.0085,000.00).

Annual Incentive Payments to the Company. Subject to the Company’s compliance with the requirements set forth in subsection 2(c2(d), if the actual payroll withholding taxes collected and received by the City pursuant to subsection 2(b)(i2(c)(i) during the then preceding calendar year and in respect of that preceding calendar year from all Employees, net of refunds (such amount being referred to as the “Actual Withholdings”), equal or exceed the Target Withholdings (as defined in subsection 2(b)(v2(c)(v)) for that preceding calendar year, the City shall, on or before April 15 of the then current calendar year, pay to the Company, solely from nontax revenues (as defined in subsection 2(e2(f)), an amount equal to the product of (A) the Actual Withholdings for that preceding calendar year multiplied by (B) twenty fifteen percent (2015%) (with each such product being referred to as an “Annual Incentive Payment”); provided, however, that (1) the City shall not be required pursuant to this subsection 2(b2(c) to remit an Annual Incentive Payment to the Company in excess of the Annual Cap (as defined in subsection 2(b)(v2(c)(v)) in any calendar year, and (2) the aggregate amount of all Annual Incentive Payments remitted pursuant to this subsection 2(b2(c) by the City to the Company shall not exceed One Hundred SixtyThirty-Five Thousand and 00/100 Dollars ($165,000.00), and if the requirements of subsection 2(b)(vi) are satisfied, the sum of all Annual Incentive Payments and Bonus Annual Incentive Payments remitted pursuant to this subsection 2(b) by the City to the Company shall not exceed Three Hundred Thousand and 00/100 Dollars ($300,000.00135,000.00).