Over Performance Sample Clauses
The Over Performance clause defines the terms and conditions under which a party exceeds the agreed-upon performance metrics or deliverables in a contract. Typically, this clause outlines how such overachievement is measured, whether it results in additional compensation, recognition, or adjustments to future obligations. For example, if a service provider delivers more units or achieves higher quality standards than required, the clause may specify bonuses or credits. Its core practical function is to incentivize exceptional performance and clarify the benefits or consequences of surpassing contractual expectations, thereby reducing disputes and encouraging higher standards.
Over Performance. The amount of Performance Bonus earned by the Executive shall be increased by 9% of the Annual Base Salary for each percentage of performance that exceeds the target performance goals for the year in question (rounded to the nearest percentage); provided, that the Performance Bonus earned in any one year shall not exceed 300% of Annual Base Salary.
Over Performance. The amount of formulaic Performance Bonus earned by the Executive shall be increased by 6% of the Target Bonus for each percentage of performance that exceeds the target performance goals for the year in question (rounded to the nearest percentage); provided, that the Performance Bonus earned in any one year shall not exceed 287.5% of Annual Base Salary, which shall become 312.5% of Annual Base Salary beginning with the 2017 Performance Bonus period. For example, if the formulaic performance is 110% of target for the 2017 Performance Bonus period, the Executive’s formulaic payout is calculated at 200% of Annual Base Salary (i.e., 125% of Annual Base Salary for target, plus 75% of Annual Base Salary (6% x 125% x 10) = a Performance Bonus total of 200% of Annual Base Salary).
Over Performance. The amount of formulaic Performance Bonus earned by the Executive shall be increased by 6% of the Target Bonus for each percentage of performance that exceeds the target performance goals for the year in question (rounded to the nearest percentage); provided, that the Performance Bonus earned in any one year shall not exceed 375% of Annual Base Salary. For example, if the formulaic performance is 110% of target, the Executive’s formulaic payout is calculated at 240% of Annual Base Salary (i.e., 150% of Annual Base Salary for target, plus 90% of Annual Base Salary (6% x 150% x 10) = a Performance Bonus total of 240% of Annual Base Salary).