Buyout Savings Sample Clauses

Buyout Savings. (i) If Construction Manager receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packages.
Buyout Savings. Buyout Savings is defined as the difference between the Cost of the Work, including Construction Manager’s Fee and the GMP when the total Cost of the Work, including the Construction Manager’s Fee, is less than the GMP after giving effect to adjustments for changes in the Work. The tracking and reporting of Buyout Savings to the Owner’s Project Representative is the responsibility of the Construction Manager and is subject to audit by the Owner. The Owner’s Project Representative shall provide the Buyout Transfer Authorization Form to the Construction Manager.

Related to Buyout Savings

  • Cost Savings Contractor shall work cooperatively with Architect, subcontractors and District, in good faith, to identify appropriate opportunities to reduce Project costs and promote cost savings. Any identified cost savings from the Guaranteed Project Cost shall be identified by Contractor, and if approved in writing by the District, that cost savings shall be deducted from the Guaranteed Project Cost. If any cost savings require revisions to the Construction Documents, Contractor shall work with the District with respect to revising the Construction Documents and, if necessary, obtaining the approval of DSA with respect to those revisions. At the District’s discretion, any reasonable cost incurred by District and/or the Contractor for those revisions may be paid for out of the identified savings before it is deducted from the Guaranteed Project Cost. Contractor shall be entitled to an extension of Contract Time equal to the delay in Project Completion caused by any cost savings adopted by District, if requested in writing before the approval of the cost savings.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • Profit Sharing Plan Under the Northrim BanCorp, Inc. Profit Sharing Plan (the “Plan”), Executive shall be eligible to receive an annual profit share based on performance as defined by the Board of Directors. Executive will be classified in the Executive tier under the Plan’s Responsibility Factors. If Employer is required to prepare an accounting restatement due to “material noncompliance of the Employer,” the Employer will recover from the Executive any incentive compensation during the three (3) years prior to the date of the restatement, in excess of what would have been paid under the restatement. Executive’s signature on this Agreement authorizes Employer to offset or deduct from any compensation Employer may owe Executive, any excess payments (in whole or in part) that Executive may owe Employer due to such restatement(s).

  • Health Care Savings Plan ASF Members who have a HCSP waiver on file shall receive a two hundred fifty dollars ($250) cash payment. If the ASF Member separates due to death, the two hundred fifty dollars ($250) is paid in cash, not to the HCSP. An ASF Member who becomes totally and permanently disabled on or after January 1, 2008, who received a State disability benefit, and is eligible for a deferred benefit under a State Retirement program is also eligible for the two hundred fifty dollar ($250) contribution to the MSRS Health Care Savings Plan. ASF Members are eligible for this benefit only once.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Defined Contribution Plan Employees hired on or after the effective date of the MERS Defined Contribution (“DC”) Plan for this bargaining unit shall participate in that plan. The Employer shall contribute seven percent (7%) of a participating employee's gross wages to the DC Plan. A participating employee shall be required to contribute three percent (3%) of gross wages to the DC Plan. A participating employee may also voluntarily contribute additional amounts on an after-tax basis to his or her individual account in the reserve for the DC Plan for any plan year in any amount to the extent allowed by federal law and subject to procedures established by MERS.

  • Cost Sharing a) With respect to the funding in C6.1a), should there be an amount of employee co-pay, the Trust shall advise boards what that amount shall be. Unless advised otherwise, there will be no deductions upon the Participation Date.


  • Profit Sharing Profit sharing, bonuses, or other similar compensation of any kind paid by CM/GC to its employees.

  • Incentive, Savings and Retirement Plans During the Employment Period, the Executive shall be entitled to participate in all incentive, savings and retirement plans, practices, policies and programs applicable generally to other peer executives of the Company and its affiliated companies, but in no event shall such plans, practices, policies and programs provide the Executive with incentive opportunities (measured with respect to both regular and special incentive opportunities, to the extent, if any, that such distinction is applicable), savings opportunities and retirement benefit opportunities, in each case, less favorable, in the aggregate, than the most favorable of those provided by the Company and its affiliated companies for the Executive under such plans, practices, policies and programs as in effect at any time during the 120-day period immediately preceding the Effective Date or if more favorable to the Executive, those provided generally at any time after the Effective Date to other peer executives of the Company and its affiliated companies.