Common use of Benchmark Review Clause in Contracts

Benchmark Review. Upon completion of the Benchmark Process, Customer and Administrator shall review the Benchmark Results during the thirty (30) day period following delivery to Customer and Administrator of the Benchmark Results, and shall in good faith discuss any appropriate adjustments to the Service Levels or Charges under this Agreement, and identify and resolve any disagreements or variances from the Benchmark Results. The Benchmarker shall disclose: (i) if the Benchmark Results show that the relevant Charges are less than three percent (3%) higher than the normalized charges paid by the average of the Comparators in the first quartile of the Comparators that were the subject of such Benchmarking Process of the relevant sample; (ii) if the results show that the relevant Charges are between three percent (3%) and twenty percent (20%) greater than the normalized charges paid by the average of the Comparators in the first quartile of Comparators; or (iii) if the results show that the relevant Charges are more than twenty percent (20%) greater than the normalized charges paid by the average of the Comparators in the first quartile of Comparators. Based on such results, Administrator may elect to offer a proposal for Customer’s consideration for adjustments to the scope of Services, Service Levels and the relevant Charges. Any adjustments shall be made on a prospective basis only, beginning thirty (30) days after the Benchmark Process is completed.