VOLUME INCENTIVE PROGRAM Clause Samples
The Volume Incentive Program clause establishes a system of rewards or discounts for buyers who purchase goods or services in large quantities. Typically, this clause outlines specific thresholds or tiers of volume that, once met, entitle the buyer to price reductions, rebates, or other incentives. For example, a buyer may receive a 5% discount if they purchase over 1,000 units within a set period. The core function of this clause is to encourage higher purchase volumes by offering financial benefits, thereby increasing sales for the seller and providing cost savings for the buyer.
POPULAR SAMPLE Copied 1 times
VOLUME INCENTIVE PROGRAM a) Subject to the Incentive Requirements of this Master Incentive Contract and all other terms and conditions of this Master Incentive Contract, Company will pay Jobber [***] (“Existing Sites Volume Incentive”) for all Company Product purchased by Jobber from Company during each Twelve Month Period of the Contract Term (“Purchased Volume”), as it may be reduced by the Volume Incentive Deduction set forth in Section 6(g), for only the Existing Sites listed on Schedule A, so long as the total volume for the Twelve Month Period for the Existing Sites is greater than [***] (“Minimum Gallons”). Notwithstanding anything in this Master Incentive Contract to the contrary, there will be no Volume Incentive paid for gallons purchased during the Twelve Month Period if the total gallons for the Existing Sites are below the Minimum Gallons threshold.
b) Subject to the Incentive Requirements of this Master Incentive Contract and all other terms and conditions of this Master Incentive Contract, Company will pay Jobber [***] (“Future Sites Volume Incentive”) for all Company Product purchased by Jobber from Company during each Twelve Month Period of the Contract Term (“Purchased Volume”), as it may be reduced by the Volume Incentive Deduction set forth in Section 6(g), for only the Future Sites listed on Schedule B, so long as the total volume of the Existing Sites and Future Sites for each Twelve Month Period is greater than [***] (“Minimum Gallons”). Notwithstanding anything in this Master Incentive Contract to the contrary, there will be no Volume Incentive paid for gallons purchased during the Twelve Month Period if the total gallons for the Existing Sites and Future Sites are below the Minimum Gallons threshold.
VOLUME INCENTIVE PROGRAM. The Manufacturer agrees that in the event that (i) the monthly shipment of any one of the models of the Products from the Manufacturer to Syntax exceeds 3,000 units, the Manufacturer shall provide a 1.5% per invoice discount by the end of that quarter; (ii) the monthly shipment of any one of the models of the Products from the Manufacturer to Syntax exceeds 6,000 units, the Manufacturer shall provide a 2% per invoice discount by the end of that quarter; or (iii) the monthly shipment of any one of the models of the Products from the Manufacturer to Syntax exceeds 10,000 units, the Manufacturer shall provide a 2.75% per invoice discount by the end of that quarter.
VOLUME INCENTIVE PROGRAM. 3.1. The Manufacturer agrees to pay the Allowance to Syntax, the calculation of which shall be 3% of each monthly shipment of the Products.
3.2. Syntax shall prepare a quarterly shipment report to specify the shipment of the Products covering the last three months period and the total amount of the Allowance, and submit the report to the Manufacturer for verification and confirmation.
3.3. Upon confirmation of the Allowance agreed by both parties, the Manufacturer shall settle the Allowance at the beginning of the following quarter by issuing a credit memorandum which shall be applied to off-set the total outstanding account payable owed to the Manufacturer by Syntax.
4.1. Upon execution of this Agreement:
4.1.1 This Agreement will be in full force from March 9, 2004 with continued executions till the end of business relationship between the Manufacturer and Syntax with 90 days advance notice by either party.
4.1.2 Such other and further documents as may be reasonably required to cause and effect the transaction contemplated by this Agreement.