Fixed Component of Compensation Sample Clauses

Fixed Component of Compensation. Pursuant to Section 9 of the Agreement, MISO shall pay Participant a Monthly SSR Payment as provided in FERC orders during the term of the Agreement, and payment prorated for any partial monthly availability for SSR service. If this Agreement is terminated with respect to less than all Designated Units (as applicable), the Monthly SSR Payment shall be reduced by an appropriate amount following the notice of termination to reflect the removal of such Unit(s) from service under this Agreement. Such reduced amount shall be submitted by Participant to FERC for approval in a Federal Power Act (“FPA”) Section 205 filing to modify this Agreement to provide for the reduced Monthly SSR Payment, which filing shall be served (at the least) upon all parties to the FERC proceeding that initiated review of compensation under the Agreement. The FERC-approved reduced amount shall be applicable the later of (a) the date that is sixty (60) days following notice of termination or (b) the date on which MISO elected to make such termination effective. Each Monthly SSR Payment shall be made regardless of dispatch of the SSR Unit(s) during that month. If the Agreement is terminated effective during the course of a month of extended service, then the Monthly SSR Payment shall be prorated for that portion of the month in which extended service was provided. The compensation provided for under this Agreement may be further modified pursuant to Section 7 (adjustment to Monthly SSR Payment based on Capacity Tests) and/or Section 9 (“Performance-Related Payment Adjustments” and/or “Compensation in the Event of a Material, Unforeseen Circumstance”) of the Agreement. Compensation shall be settled on a monthly basis. If the Agreement is terminated by MISO prior to the end of the Term, [describe any needed going-forward recovery related to MISO termination of the Agreement regarding one or more units] .
Sample 1
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Fixed Component of Compensation. Pursuant to Section 9 of the Agreement, MISO shall pay Participant a Monthly SSR Payment of $264,500.95605,961.39, representing monthly allocations of the Annual SSR Amount each month during the term of the Agreement and payment prorated for any partial monthly availability for service as an SSR unit. The anticipated capital repairs and related projects stated in Exhibit 4 are included in the compensation provided for in this Exhibit 2, and shall be committed to by Participant during the term of this Agreement (and no further compensation will be provided in any subsequent agreement). Each Monthly SSR Payment shall be made regardless of dispatch of the SSR UnitsUnit during that month. Testing will take place on the turbine Unit 1 condenser related to worn tubes to determine the need to replace the existing tubes and compensation is provided for such testing, but any needed repair and/or replacement will be dealt with and compensated for using the procedures stated in Section 9.E of this Agreement or in a subsequent agreement. While operation of the SSR Unit is not expected to require the installation of a Control Energy Management System (“CEMS”), the State of Michigan regulatory requirement that CEMS installation take place based upon the SSR Unit reaching a 33 percent capacity factor for a calendar year will be dealt with and compensated for using the procedures stated in Section 9.E of this Agreement or in a subsequent agreement. Compensation is provided regarding Boiler 2 for only its dry lay up to maintain its operability and availability under the terms of this Agreement, and this status will be maintained in any subsequent SSR agreement. In the event that Participant uses Boiler 2 for subsequent commercial (non-SSR) operation involving the White Pine Facilities, Boiler 2- assoicated compensation provided in this Agreement ($10,000 portion of the Annual SSR Amount) and any subsequent SSR agreement shall be refunded (with interest in accordance with the Commission’s interest rate on refunds, 18 C.F.R § 35.19a) as MISO shall describe in a FPA 205 filing at FERC. If the Agreement is terminated effective during the course of a month of extended service, then the Monthly SSR Payment shall be prorated for that portion of the month in which extended service was provided. Upon termination of this Agreement, if Participant has committed to unanticipated repairs pursuant to Section 9.E before notice of termination is provided by XXXX, the compensation for unan...
Sample 1
Fixed Component of Compensation. Pursuant to Section 9 of the Agreement, MISO shall pay Participant a Monthly SSR Payment of $593,935.55, representing monthly allocations of an estimated SSR compensation amount each month during the term of the Agreement and payment prorated for any partial monthly availability for service as an SSR unit. The anticipated capital repairs listed in Exhibit 3 are included in the compensation stated in this Exhibit 2, and shall be completed by Participant during the term of this Agreement. Each Monthly SSR Payment shall be made regardless of dispatch of the SSR Units during that month. If the Agreement is terminated effective during the course of a month of extended service, then the Monthly SSR Payment shall be prorated for that portion of the month in which extended service was provided. MISO ATTACHMENT Y-1 FERC Electric Tariff Standard Form System Support Resource (SSR) Agreement ATTACHMENTS 33.0.0 MISO ATTACHMENT Y-1 FERC Electric Tariff Standard Form System Support Resource (SSR) Agreement ATTACHMENTS 33.0.0 The compensation provided for under this Agreement may be further modified pursuant to Section 7 (adjustment to Monthly SSR Payment based on Capacity Tests provided for pursuant to Section 7) and/or Section 9 (“Performance-Related Payment Adjustments”) and/or S ection 9 (“Compensation for Unanticipated Repairs”) of the Agreement. Compensation shall be settled on a monthly basis.
Sample 1

Related to Fixed Component of Compensation

  • Show-Up Compensation An employee who is scheduled for work and reports for work, except for situations addressed in Article 123--Inclement or Hazardous Conditions, and is released from work shall be paid the equivalent of two

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • HOLIDAY COMPENSATION FOR TIME WORKED 126. Employees required by their respective appointing officers to work on any of the above specified or substitute holidays, excepting Fridays observed as holidays in lieu of holidays falling on Saturday, shall be paid extra compensation of one additional day's pay at time- and-one-half the usual rate in the amount of 12 hours pay for 8 hours worked or a proportionate amount for less than 8 hours worked provided, however, that at the employee's request and with the approval of the appointing officer, an employee may be granted compensatory time off in lieu of paid overtime as provided for elsewhere in this contract. 127. Executive, administrative and professional employees designated in the Annual Salary Ordinance with the "Z" symbol shall not receive extra compensation for holiday work but may be granted time off equivalent to the time worked at the rate of-one-and-one-half times for work on the holiday.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Shift Differential Compensation Any employee in the bargaining unit whose assigned work shift commences (for unit-1) prior to 5:30 a.m. or whose work shift ends after 5:30 p.m., or (for unit-2 members) commences after 2:00 p.m. shall be paid a shift differential premium of five (5%) percent above the regular rate of pay for all hours worked.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $2,000,000.

  • Supplementation of Compensation Award ‌ If an employee is prevented from performing the employee's regular work with the City on account of an occupational accident that is recognized by the Workers' Compensation Board as compensable within the meaning of the Workers' Compensation Act, the City will supplement the award made by the Workers' Compensation Board for loss of wages to the employee by such an amount that the award of the Workers' Compensation Board for loss of wages (excluding non- economic loss payment), together with the supplementation by the City, will equal 100% of the employee's regular net wage (gross pay less statutory deductions, union dues and required benefit plan contributions). The said supplementation shall not be payable to any employee entitled to compensation after pension age if such an employee is entitled to an unreduced pension as provided under the Local Authorities Pension Plan or after the full age of 65 years if such an employee is not entitled to a pension. Subject to the foregoing limitation, the procedure to be followed in operating this policy shall be as follows:

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Supplemental Compensation Pursuant to Section 7 of the Agreement, Supplemental Compensation will be paid as follows:

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