VCPS Clause Samples
The VCPS (Variable Compensation Payment Schedule) clause defines the terms and conditions under which variable compensation payments are calculated and disbursed. Typically, this clause outlines the performance metrics, timelines, and procedures for determining eligibility and the amount of variable compensation, such as bonuses or incentive payments. For example, it may specify that payments are contingent on achieving certain sales targets or project milestones within a fiscal year. The core function of the VCPS clause is to provide a clear and structured framework for rewarding performance, thereby aligning incentives and reducing disputes over compensation.
VCPS. Controlled Content may be stored on a DVD that is protected by Video Content Protection System (VCPS) as licensed by Koninklijke Philips Electronics N.V.
VCPS. Procurement Department shall give written notice to the JVC of the expiration of the Afs and PRs at least two months prior to the end of their validity date. Within 10 days following the receipt of such notice, the JVC shall inform VCP, in writing, whether it wishes to renew such agreements or not.
VCPS. Net Debt to EBITDA Ratio as of the end of any Fiscal Semester shall exceed 3.0 on a Consolidated basis (it being understood that such ratio shall not be calculated until the delivery of the financial statements referred to in Section 5.1(d), but that any related Event of Default shall be considered to have begun as of the last day of the relevant Fiscal Semester);
VCPS. In accordance with Section 3.5, Host Devices may make a copy of Controlled Content that is designated as Copy One Generation, provided such copy is protected using VCPS.