YEAR 4 Clause Samples
The 'YEAR 4' clause typically outlines specific terms, obligations, or changes that take effect in the fourth year of a contract or agreement. This may include adjustments to pricing, renewal options, performance benchmarks, or other conditions that differ from previous years. By clearly defining what is expected or changes in the fourth year, the clause helps both parties anticipate and prepare for future developments, ensuring transparency and reducing the risk of misunderstandings as the contract progresses.
YEAR 4 a. WEEKS 1 – 5 (For 9-week courses, typically in weeks 1-3)
b. WEEKS 6 – 13 (For 9-week courses, typically in weeks 3-7)
i. Classroom visitations made by committee members.
ii. Student questionnaires are administered (no earlier than 6th week). Student questionnaire results shall be provided to contract employee prior to week 14 (for 9-week courses, prior to week 8).
iii. Contract employee submits list of professional activities.
c. WEEKS 14 – 15 (For 9-week courses, typically in weeks 7-8)
i. Contract employee submits self-evaluation.
ii. Committee meets and reviews all pertinent areas of evaluation and evaluation materials.
iii. Committee decides upon employment recommendation for contract employee.
iv. Committee meets with contract employee to discuss the employment recommendation.
d. WEEKS 16 – 17 (For 9-week courses, typically in weeks 8-9)
YEAR 4. The Buyer will purchase at a minimum of twenty five million dollars ($25,000,000) of the Product in the fourth year of the Agreement. The Buyer will provide quarterly POs with delivery dates for the Product at a price of [*] dollars per kilogram ([*]/kg). The quarterly POs will be binding to maintain the exclusivity.
YEAR 4. On the first day of June, 1995, and on the first day of each successive month thereafter up to and including May 1, 1996, Lessee shall pay $8,880.00 as monthly rent, plus sales tax and estimated building insurance, real estate taxes and C.A.M.
YEAR 4. During the fourth Year of the Term, Autoweb shall retain ------ all Transaction Revenue up to [*] (the "Year 4 Threshold"). Following the generation of Transaction Revenue in excess of the Year 4 Threshold, Autoweb shall pay Lycos [*] for every Qualifying Lead originating from the Lycos Network. To the extent that, following generation of Transaction Revenue in excess of the Year 4 Threshold, Autoweb generates Transaction Revenue through sales methods other than through the supply of Qualifying Leads, Autoweb and Lycos shall share such Transaction Revenue in a manner to be mutually agreed upon.
YEAR 4. If the cumulative compounded annual growth rate of EBITA for Years 1 through 4 (the period commencing April 1, 2008 and ending March 31, 2012) is (i) <10%, (ii) >10% but <12.5%, (iii) >12.5% but <15% or (iv) >15%, then Executive shall receive (i) 0%, (ii) 33%, (iii) 66% or (iv) 100%, respectively, of the Maximum Bonus less the amounts set forth in the two immediately succeeding bullets: · 25% of the gross amount that would otherwise be paid in Year 4 (without regard to any payment made in Year 3) for each twelve month period (April 1 through March 31) in which the cumulative compounded annual growth rate of EBITA is <5%; and · the Year 3 Payment (the amount determined pursuant to the immediately preceding bullets, the “Year 4 Payment”).