Common use of PIP Surplus Clause in Contracts

PIP Surplus. Medical Group shall participate in the Pharmacy Upside Sharing Program. In the event the PIP Expense is less than the PIP Threshhold during the 2003 calendar year, the amount of this difference will be referred to as the PIP Surplus. In this event, fifty percent (50%) of the surplus shall be allocated to Medical Group. This PIP shall be settled on a quarterly basis beginning with the second quarter of the 2003 calendar year and ongoing within ninety (90) days of the end of the quarter. Quarterly payouts will be subject to an IBNR adjustment. There will be a final, cummulative settlement produced within one hundred eight (180) days of the 2003 calendar year.

PIP Surplus. Medical Group shall participate in the Pharmacy Upside Sharing Program. In the event the PIP Expense is less than the PIP Threshhold Threshold during the 2003 calendar year, the amount of this difference will be referred to as the PIP Surplus. In this event, fifty percent (50%) of the surplus shall be allocated to Medical Group. This PIP shall be settled on a quarterly basis beginning with the second quarter of the 2003 calendar year and ongoing within ninety (90) days of the end of the quarter. Quarterly payouts will be subject to an IBNR adjustment. There will be a final, cummulative cumulative settlement produced within one hundred eight (180) days of the 2003 calendar year.