Pay for Performance (PFP) definition

Pay for Performance (PFP) means a process where an environmental consulting company (Consultant) guarantees by signing a mutual agreement (the contract) that a release of a regulated substance will be remediated to COC levels agreed to by the PSTD and the Consultant that are protective of human health, safety and the environment. This performance-based process encompasses several steps, but is not limited to the contract signed by an officer/owner of the environmental consulting company, the applicant and the Administrator of the Indemnity Fund and an agreed to reasonable price. Scheduled payments are distributed only as performance- based goals are attained.
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Pay for Performance (PFP) means a process where an environmental consulting company (Consultant) guarantees by contract that a release of a regulated substance will be remediated to
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Examples of Pay for Performance (PFP) in a sentence

  • The Council agrees that the Agency may exercise its discretion in the administration of Market Based Pay (MBP) merit and bonus payments and the Hourly Pay Plan (HPP) (Pay for Performance (PFP)/ Crafts and Trades (C&T)) Team Award without negotiation as long as the merit and bonus payment program for MBP employees utilizes the same formula for bargaining unit and non-bargaining unit employees.

  • This Article, prevailing regulations, applicable Federal Register Notices and the S&T Personnel Demonstration Project Internal Operating Procedures provide the framework for the administration of TAPES and the Pay for Performance (PFP) appraisal system for Employees in the Bargaining Unit.

  • For the purposes of the Pay for Performance (PFP) program, the City agrees that members of the unit shall be evaluated annually upon his/her annual evaluation date (usually the anniversary of the date the employee was hired or promoted into his/her position).

  • Employee shall be eligible to participate in the City's Pay for Performance (PFP) program beginning on the anniversary date of the Commencement Date, and as provided by the City's Personnel Policies.

  • Each employee who has reached the top of their pay classification ("capped out") will continue to be evaluated under the Town's Pay for Performance ("PFP") appraisal system as described in Article III, Section 3 and based on the amounts calculated in accordance with Attachment "B".

Related to Pay for Performance (PFP)

  • Long-Term Performance Award means an award under Section 10 below. A Long-Term Performance Award shall permit the recipient to receive a cash or stock bonus (as determined by the Committee) upon satisfaction of such performance factors as are set out in the recipient's individual grant. Long-Term Performance Awards will be based upon the achievement of Company, Subsidiary and/or individual performance factors or upon such other criteria as the Committee may deem appropriate.

  • Energy savings performance contract means a contract under which the rate of payments is based upon energy and operational cost savings and a stipulated maximum energy consumption level over the life of the contract.

  • Energy Performance Score means the numeric rating generated by Portfolio Manager that compares the Energy usage of the building to that of similar buildings.

  • Qualifying Performance Criteria means any one or more of the following performance criteria, either individually, alternatively or in any combination, applied to either the Company as a whole or to a business unit, Parent, Subsidiary or business segment, either individually, alternatively or in any combination, and measured either annually or cumulatively over a period of years, on an absolute basis or relative to a pre-established target, to previous years’ results or to a designated comparison group, and on a pre-tax or after-tax basis, in each case as specified by the Committee in the Award: (i) cash flow (including operating cash flow or free cash flow); (ii) earnings (including gross margin, earnings before interest and taxes, earnings before taxes, and net earnings); (iii) earnings per share; (iv) growth in earnings or earnings per share; (v) stock price; (vi) return on equity or average stockholders’ equity; (vii) total stockholder return; (viii) return on capital; (ix) return on assets or net assets; (x) return on investment; (xi) revenue; (xii) income or net income; (xiii) operating income or net operating income; (xiv) operating profit or net operating profit; (xv) operating margin; (xvi) return on operating revenue; (xvii) market share; (xviii) contract awards or backlog; (xix) overhead or other expense reduction; (xx) growth in stockholder value relative to the moving average of the S&P 500 Index or a peer group index; (xxi) credit rating; (xxii) strategic plan development and implementation (including individual performance objectives that relate to achievement of the Company’s or any business unit’s strategic plan); (xxiii) improvement in workforce diversity; (xxiv) expenses; (xxv) economic value added; (xxvi) product quality; (xxvii) number of customers; (xxviii) objective customer indicators; (xxix) customer satisfaction; (xxx) new product invention or innovation; (xxxi) profit after taxes; (xxxii) pre-tax profit; (xxxiii) working capital; (xxxiv) sales; (xxxv) advancement of the Company’s product pipeline; (xxxvi) consummation of strategic transactions; (xxxvii) reduction in cash utilization; and (xxxviii) addition of technologies and products. The Committee may appropriately adjust any evaluation of performance under a Qualifying Performance Criteria to exclude any of the following events that occurs during a performance period: (A) asset write-downs; (B) litigation or claim judgments or settlements; (C) the effect of changes in tax law, accounting principles or other such laws or provisions affecting reported results; (D) accruals for reorganization and restructuring programs; and (E) any gains or losses classified as extraordinary or as discontinued operations in the Company’s financial statements.

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.