Criteria and Calculations Clause Samples

The "Criteria and Calculations" clause defines the specific standards, benchmarks, or formulas used to measure performance, determine payments, or assess compliance within an agreement. It typically outlines how certain values are to be calculated, such as sales targets, service levels, or financial metrics, and may reference external indices or detailed schedules. By clearly establishing the methods and criteria for calculations, this clause ensures transparency and reduces the risk of disputes over how key figures are determined during the contract's execution.
Criteria and Calculations a) Should the College determine it will be unable to offer an incentive to all who have applied as set out above, applications will be ranked according to the applicant with greater combination of age and seniority as of the end of the previous fiscal year in question. b) Seniority will be based on the seniority list that is distributed as of April 1 of the current fiscal year. c) Both seniority and age shall be denominated in years rounded to the second decimal. d) The applicants’ seniority total, as described above in (a), (b), and (c), shall be divided by 261 to determine seniority in years. e) The applicants’ age, as described in (a), shall be the number of full-years plus the number of days between ones’ birthdate and April 1. Days shall be expressed as a decimal fraction of a year where the number of days is divided by 365. (examples: (1) faculty member is 62 with March 1 birthday, age is 62 + 31/365 = 62.08 (2) faculty member is 62 with May 1 birthday, age is 62 = 335/365 = 62.92). f) All ages and seniority numbers shall be as on file in the applicants’ personnel file or as documented by VCC. g) Application is voluntary.
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Criteria and Calculations. Should the College determine it will be unable to offer an incentive to all who have applied as set out above, applications will be ranked according to the applicant with greater combination of age and seniority as of the end of the previous fiscal year in question.
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