Base Draw definition
Examples of Base Draw in a sentence
In consideration for its services hereunder, Response shall receive the Base Service Fee and Performance Fee, computed pursuant to Schedule A hereto, as compensation for its services hereunder, payable by means of the Base Draw procedure set forth in Section 8.2 below.
The Base Draw shall be payable by Oncology to Response out of the Oncology Operating Account on a monthly basis for the purpose of paying the Fixed Portion of the Base Service Fee and providing Response with an advance on its annual Performance Fee (if any).
So long as an Oncology Event of Default has not occurred, advances on the Receivables Line shall be made by Response as required to provide funds in the Oncology Operating Account sufficient to pay, in the following order (i) the Clinic Expense Portion of the Base Service Fee, (ii) Physician Employee Compensation, (iii) other practice expenses which are not Clinic Expenses up to an amount equal to the Physician Retainage, less the Base Draw, and (iv) the Base Draw.
In the event the Physician's Base Draw payment in any quarter exceeds the Physician's productivity for that quarter, the amount of the overpayment shall be carried forward to the year-end reconciliation.
The Enterprise will use its reasonable efforts to ensure that any adjustment to Base Draw that is a result of an adjustment to the wRVU rate shall be determined based upon then-current amount of Base Draw.
The Physician shall initially be paid a biweekly draw of ________ dollars ($_______) less applicable taxes and withholdings, (the 'Base Draw") paid in accordance with the Organization’s standard payroll practice.
The Value and Quality Based Annual Incentive will be the Physician's wRVU production for services personally performed by the Physician times the wRVU tier earned as the incentive payout in excess of the Base Draw paid to Physician.
If the Physician failed to achieve the Target wRVU Amount (taking into account any pro-rations), for the ending quarter, the Physician's Target wRVU Amount will be adjusted to the wRVU amount corresponding to the Physician's actual production in the ending quarter (the "Adjusted Target wRVU Amount") and the Physician's biweekly Base Draw amount for the following quarter shall be reduced to ninety-five percent (95%) of the Adjusted Target wRVU Amount times the Payout Rate.
The Physician acknowledges and agrees that the wRVU rate set forth in this Exhibit B will be reviewed, and may be adjusted, by the Enterprise on an annual basis (starting on ___<date>__, consistent with the Organization's polices and standards and further acknowledges and agrees that an adjustment to the wRVU rate may result in an adjustment to Base Draw wRVU threshold to equal such Base Draw.
Such reconciliation will be at one hundred percent (100%) of the Physician's Annual Base Draw.