Agreement on performance Clause Samples

Agreement on performance. 4.3.1 The Buyer and the Sellers hereby agree to adopt the Net Profits before tax of the Target Company during the Base Period of Business Results as the benchmark; thereafter the Net Profits before tax of the Target Company for every twelve (12) months (“Appraisal Year of Business Results”) shall be maintained at a compound growth rate of one hundred and ten percent (110%) (“Expected Net Profits”). The calculation formula of the Expected Net Profits for any appraisal year of the Target Company is: the business results of the Nth Appraisal Year of Business Results after the Base Period = the Net Profits before tax in the Base Period of Business Results × 110% to the power of (N-1). 4.3.2 In any Appraisal Year of Business Results thereafter, if the Target Company’s Net Profits for that year exceeds the corresponding Expected Net Profits, the Buyer shall increase the number of Shares issued to the Sellers in the same proportion for the excess as the employee incentives to the Sellers; but the number of additional Shares shall not exceed one-hundred and fifty percent (150%) of the number of Shares that shall be issued to the Sellers for that year. 4.3.3 In any Appraisal Year of Business Results thereafter, if the Target Company’s Net Profits for that year is less than the corresponding Expected Net Profits, the Buyer shall reduce the number of Shares issued to the Sellers in the same proportion for the shorter part, but such reduced issued Shares shall not be less than fifty percent (50%) of the Shares that shall be issued to the Sellers for that year. 4.3.4 When the Target Company opens a New Store or acquires the business of other car dealers, the appraisal method for the New Stores or acquired business will be agreed otherwise by both parties.
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Related to Agreement on performance

  • Non-Performance The obligation of ECOLOGY to the RECIPIENT is contingent upon satisfactory performance by the RECIPIENT of all of its obligations under this Agreement. In the event the RECIPIENT unjustifiably fails, in the opinion of ECOLOGY, to perform any obligation required of it by this Agreement, ECOLOGY may refuse to pay any further funds, terminate in whole or in part this Agreement, and exercise any other rights under this Agreement. Despite the above, the RECIPIENT shall not be relieved of any liability to ECOLOGY for damages sustained by ECOLOGY and the State of Washington because of any breach of this Agreement by the RECIPIENT. ECOLOGY may withhold payments for the purpose of setoff until such time as the exact amount of damages due ECOLOGY from the RECIPIENT is determined.

  • Continuing Performance In the event of a dispute, the Owner and the Developer agree to continue their respective performance hereunder to the extent feasible in light of the dispute, including paying ▇▇▇▇▇▇▇▇, and such continuation of efforts and payment of ▇▇▇▇▇▇▇▇ shall not be construed as a waiver of any legal right.

  • OBLIGATIONS CONTINGENT ON PERFORMANCE The obligations of the Employer hereunder, including its obligation to pay the compensation provided for herein, are contingent upon the Executive's performance of the Executive's obligations hereunder.

  • EVALUATING PERFORMANCE 7.1 The Performance Plan (Annexure A) to this Agreement sets out: 7.1.1 the standards and procedures for evaluating the Employee’s perfor- ▇▇▇▇▇; and 7.1.2 the intervals for the evaluation of the Employee’s performance. 7.2 Despite the establishment of agreed intervals for evaluation, the Employer may in addition review the Employee’s performance at any stage while the contract of employment remains in force. 7.3 Personal growth and development needs identified during any performance review discussion must be documented in a Personal Development Plan as well as the actions agreed to and implementation must take place within set time frames. 7.4 The Employee’s performance will measured in terms of contributions to the goals and strategies set out in the Employer’s IDP. 7.5 The annual performance appraisal will involve: 7.5.1. Assessment of the achievement of results as outlined in the perfor- ▇▇▇▇▇ plan: (a) Each KPA should be assessed according to the extent to which the specified standards or performance indicators have been met and with due regard to ad hoc tasks that had to be performed under the KPA. (b) An indicative rating on the five-point scale should be provided for each KPA. (c) The applicable assessment rating calculator (refer to paragraph 7.5.3. below) must then be used to add the scores and calculate a final KPA score.

  • Excuse for Nonperformance or Delayed Performance Except with respect to defaults of subcontractors, Contractor/Vendor shall not be in default by reason of any failure in performance of this contract in accordance with its terms (including any failure by Contractor/Vendor to make progress in the prosecution of the work hereunder which endangers such performance) if Contractor/Vendor has notified the Commission or designee within 15 days after the cause of the delay and the failure arises out of causes such as: acts of God; acts of the public enemy; acts of the State and any other governmental entity in its sovereign or contractual capacity; fires; floods; epidemics; quarantine restrictions; strikes or other labor disputes; freight embargoes; or unusually severe weather. If the failure to perform is caused by the failure of a subcontractor to perform or to make progress, and if such failure arises out of causes similar to those set forth above, Contractor/Vendor shall not be deemed to be in default, unless the services to be furnished by the subcontractor were reasonably obtainable from other sources in sufficient time to permit Contractor to meet the contract requirements. Upon request of Contractor, the Commission or designee shall ascertain the facts and extent of such failure, and, if such officer determines that any failure to perform was occasioned by any one or more of the excusable causes, and that, but for the excusable cause, Contractor’s progress and performance would have met the terms of the contract, the delivery schedule shall be revised accordingly, subject to the rights of the State under the clause entitled (in fixed-price contracts, “Termination for Convenience,” in cost-reimbursement contracts, “Termination”). (As used in this Paragraph of this clause, the term “subcontractor” means subcontractor at any tier).