Excess performance rewards Sample Clauses

The "Excess performance rewards" clause defines how additional compensation is provided when performance exceeds agreed-upon benchmarks or targets. Typically, this clause outlines the criteria for measuring excess performance, the calculation method for rewards, and the timing of such payments. For example, if a contractor completes a project ahead of schedule or surpasses quality standards, they may receive a bonus as specified by this clause. Its core function is to incentivize superior performance by offering tangible rewards, thereby aligning the interests of both parties and encouraging outcomes that exceed minimum requirements.
Excess performance rewards. All parties agree that if the target company’s actual net profit target exceeds the commitment target stipulated in Article 2.5.2, Party A agrees that the target company will reward the target company’s operating team in cash for additional rewards. The specific calculation method of reward amount and proportion is as follows: 1) If the target company completes its performance commitment target for the year and the actual net profit completed for the year is more than 10% but less than 30% compared to the previous year’s net profit growth rate, the target company should extract the net profit achieved during the year 10% as a reward; 2) The target company completes the performance commitment target for the year, and if the annual profit growth rate is more than 30% compared with the previous year, the target company should withdraw 15% of the net profit achieved in the year as an incentive.
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Related to Excess performance rewards

  • Ongoing Performance Measures The Department intends to use performance-reporting tools in order to measure the performance of Contractor(s). These tools will include the Contractor Performance Survey (Exhibit G), to be completed by Customers on a quarterly basis. Such measures will allow the Department to better track Vendor performance through the term of the Contract(s) and ensure that Contractor(s) consistently provide quality services to the State and its Customers. The Department reserves the right to modify the Contractor Performance Survey document and introduce additional performance-reporting tools as they are developed, including online tools (e.g. tools within MFMP or on the Department's website).

  • Historical Performance Information To the extent agreed upon by the parties, the Sub-Advisor will provide the Trust with historical performance information on similarly managed investment companies or for other accounts to be included in the Prospectus or for any other uses permitted by applicable law.

  • Annual Performance Evaluation On either a fiscal year or calendar year basis, (consistently applied from year to year), the Bank shall conduct an annual evaluation of Executive’s performance. The annual performance evaluation proceedings shall be included in the minutes of the Board meeting that next follows such annual performance review.

  • CONTRACTOR PERFORMANCE AUDIT The Contractor shall allow the Authorized User to assess Contractor’s performance by providing any materials requested in the Authorized User Agreement (e.g., page load times, response times, uptime, and fail over time). The Authorized User may perform this Contractor performance audit with a third party at its discretion, at the Authorized User’s expense. The Contractor shall perform an independent audit of its Data Centers, at least annually, at Contractor expense. The Contractor will provide a data owner facing audit report upon request by the Authorized User. The Contractor shall identify any confidential, trade secret, or proprietary information in accordance with Appendix B, Section 9(a), Confidential/Trade Secret Materials.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).