Bonus to Contractor for Early Completion Sample Clauses

Bonus to Contractor for Early Completion. Subject to Section 7.1 ---------------------------------------- and the restrictions set forth in the next succeeding sentence, for each day that Contractor achieves Mechanical Completion prior to the Target Mechanical Completion Date, Contractor shall be entitled to receive a bonus payment equal to the Bonus Amount for each such day (the sum of all such Bonus Amounts, the "Early Completion Bonus"); provided that in no event shall the amount of the Early Completion Bonus exceed six million dollars ($6,000,000.00). Contractor's entitlement to an Early Completion Bonus shall be subject to the following restrictions: (i) no Early Completion Bonus shall be paid to Contractor with respect to any period by which the Target Mechanical Completion Date is extended because of one or more Events of Force Majeure, except to the extent Owner, in its reasonable discretion, agrees to bonus provisions as part of any Change Order which may be issued as a result of such Events of Force Majeure; provided, however, that if Contractor achieves Mechanical Completion before the date on which the Target Mechanical Completion Date would have occurred without taking into account any extensions due to Events of Force Majeure, Contractor shall be entitled to an Early Completion Bonus based on the number of days by which the date of achievement of Mechanical Completion preceded the date on which the Target Mechanical Completion Date would have occurred without taking into account any such extensions due to Events of Force Majeure; and (ii) notwithstanding the provisions of the foregoing clause (i), Contractor shall not be entitled to any Early Completion Bonus in the event Contractor incurs any obligation under this Contract to pay Reliability and Capacity Buydown Payments or Late Payments or in the event Contractor otherwise fails to meet its obligations under this Contract to achieve Substantial Reliability or Final Completion. The Early Completion Bonus shall be payable by Owner to Contractor as follows: (x) up to $3,000,000 shall be payable within thirty (30) days following Final Completion and (y) the remainder, if any, of the Early Completion Bonus shall be payable in three (3) equal installments (without interest) on the first, second and third anniversaries of the date of Final Completion, respectively.
Sample 1
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Related to Bonus to Contractor for Early Completion

  • Performance and Salary Review Company will periodically review Executive’s performance on no less than an annual basis. Adjustments to salary or other compensation, if any, will be made by Company in its sole and absolute discretion.

  • Performance Review The Company will periodically review Executive’s performance on no less than an annual basis and will make adjustments to salary or other compensation, as they deem appropriate in their sole and absolute discretion.

  • Performance Reviews Performance reviews will be conducted at least annually by the President/CEO or designee.

  • Performance Tests Contractor shall perform Performance Tests in accordance with Section 11.2 of the Agreement and Attachment S.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Annual Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Performance Measure The number of Performance Shares earned at the end of the three-year Performance Period will vary depending on the degree to which cumulative adjusted earnings per share performance goals for the Performance Period, as established by the Committee, are met.

  • DEFERRAL CONTRIBUTIONS The Advisory Committee will allocate to each Participant's Deferral Contributions Account the amount of Deferral Contributions the Employer makes to the Trust on behalf of the Participant. The Advisory Committee will make this allocation as of the last day of each Plan Year unless, in Adoption Agreement Section 3.04, the Employer elects more frequent allocation dates for salary reduction contributions.

  • Performance to Continue Each party shall continue to perform its obligations under this Agreement pending final resolution of any dispute arising out or relating to this Agreement; provided, however, that a party may suspend performance of its obligations during any period in which the other party fails or refuses to perform its obligations.

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