Forfeiture of Right to Receive Workforce Creation Incentive Payment Sample Clauses

Forfeiture of Right to Receive Workforce Creation Incentive Payment. The Company agrees and acknowledges that the Annual Incentive Payments provided for in subsection 2(c) are being made by the City to the Company in consideration for the Company’s agreement to lease a facility to relocate and expand an office and its associated operations and workforce, and to create jobs and employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(c)(v), the City shall not be obligated to make an Annual Incentive Payment to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied.
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Forfeiture of Right to Receive Workforce Creation Incentive Payment. The Company agrees and acknowledges that the Annual Incentive Payments and the Bonus Annual Incentive Payments provided for in subsection 2(b) are being made by the City to the Company in consideration for the Company’s agreement to execute the Lease Agreement and lease a facility to locate an office and its associated operations and workforce, and to create jobs and employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(b)(v), the City shall not be obligated to make an Annual Incentive Payment or a Bonus Annual Incentive Payment, as the case may be, to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment or a Bonus Annual Incentive Payment, as the case may be, for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied.
Sample 1Sample 2
Forfeiture of Right to Receive Workforce Creation Incentive Payment. The Company agrees and acknowledges that Annual Incentive Payments provided for in subsection 2(c) are being made by the City to the Company in consideration for the Company’s agreement to execute the Lease for the location of an office and associated operations and workforce within the City and to create additional employment opportunities, all within the City. The Company further agrees that if the Target Withholdings requirement is not met for any given calendar year as set forth in subsection 2(c)(iv), the City shall not be obligated to make an Annual Incentive Payment to the Company for the calendar year in respect of which the Target Withholdings requirement was not satisfied. Failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving an Annual Incentive Payment for any subsequent calendar year in respect of which the Target Withholdings requirement is satisfied. Subject to subsection 2(b)(v), failure to satisfy the Target Withholdings requirement in respect of any one calendar year does not prohibit the Company from receiving the Bonus Annual Incentive Payments described in subsection 2(b)(v).
Sample 1

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