Retroactive recalculation Clause Samples

A retroactive recalculation clause allows for the adjustment of previously determined amounts, such as payments or charges, based on new information or corrections that come to light after the original calculation. In practice, this might apply to situations where estimates were used initially, and actual figures become available later, requiring the parties to revisit and amend prior settlements or invoices. The core function of this clause is to ensure fairness and accuracy in financial dealings by correcting discrepancies and aligning payments with actual outcomes, thereby preventing overpayments or underpayments.
Retroactive recalculation. If this salary agreement is applied retroactively the following applies concerning deduc- tions for sickness etc., deductions for leave of absence and paid overtime compensation. Individual deductions for sickness etc. are recalculated as follows: • Deductions for sickness up to and including the 14th calendar day shall be recalculated retroactively. Retroactive recalculation shall not take place in respect of deductions for sickness from and including the 15th calendar day other than to the extent that the salary increase has been taken into account in setting the sickness benefit. • Deductions for leave of absence shall be recalculated retroactively. Recalculation shall be performed individually. • Overtime compensation shall be recalculated retroactively. Recalculation shall be performed individually for each salaried employee.
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Retroactive recalculation. In case this salary agreement is applied retroactively, the following shall apply regarding salary deductions for sick leave, leave of absence and paid-out overtime compensation. Individual recalculation of sick leave deductions etc. shall be made in accordance with the following: A sick leave deduction through the 14th calendar day shall be recalculated retroactively. No retroactive recalculation shall be made for sick leave deductions from the 15th calendar day, except to the extent the salary increase has been taken into consideration at the time the sick pay was determined. A deduction for leave of absence shall be recalculated retroactively. The recalculation shall be made individually. Overtime compensation shall be recalculated retroactively. The recalculation shall be made by the average salary increase for salaried employees at the company, unless a local agreement is made to the effect that the recalculation shall be made individually for each salaried employee.
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Retroactive recalculation. The following applies regarding the recalculation of retroactive salary increases. The recalculation must be done individually for each em- ployee concerned. a) Salary supplements and other remuneration Salary supplements and other remuneration linked to the monthly sal- ary are to be recalculated retroactively. b) Leave of absence deduction Leave of absence deductions are to be recalculated retroactively. c) Sick pay Sick leave deductions during the sick pay period are to be recalculated retroactively. Sick leave deduction for the period thereafter is not to be recalculated retroactively. Sick leave deductions up to the 14th calendar day of the sick pay period are to be recalculated retroactively. However, sick leave deductions from the 15th calendar day are not to be recalculated retroactively.
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Related to Retroactive recalculation

  • Subsequent Recalculation In the event the Internal Revenue Service adjusts the computation of the Company under Section 5.2 herein so that the Executive did not receive the greatest net benefit, the Company shall reimburse the Executive for the full amount necessary to make the Executive whole, plus a market rate of interest, as determined by the Committee, within 30 days after such adjustment.

  • CPI Adjustment If the CPI Percentage Increase (as defined below) is more than [***] for the relevant Adjustment Period, then the Rent payable during that Adjustment Period shall be adjusted upward by a percentage equal to the CPI Percentage Increase (as defined below) applicable to such Adjustment Period, but not to exceed an adjustment during any Adjustment Period of greater than [***]. The term “Consumer Price Index” shall mean the unadjusted Consumer Price Index for All Urban Workers, U.S. City Average, All Items, 1982-84=100, calculated and published by the United States Department of Labor, Bureau of Labor Statistics. The “CPI Percentage Increase” shall mean, with respect to any Adjustment Period, [***]. For the avoidance of doubt, no CPI Adjustment shall be made to any payment due under this Ground Lease for any Adjustment Period if the result of such CPI Adjustment would be to (a) reduce the amount of such payment to an amount that is less than the amount of such payment due for the immediately preceding Adjustment Period or (b) to raise the amount of such payment to an amount that is greater than [***]. For illustrative purposes only, [***]. The CPI Percentage Increase for any Adjustment Period shall be calculated by the Tenant, and the Tenant shall deliver written notice to the Landlord describing such calculation in reasonable detail (a “CPI Notice”) no later than thirty (30) days after the commencement of any Adjustment Period. If the Landlord disagrees with the Tenant’s calculation of the CPI Percentage Increase, then the Landlord shall deliver to the Tenant written notice, describing the basis for such disagreement in reasonable detail (a “CPI Disagreement Notice”), not later than thirty (30) days after delivery of the CPI Notice. If the Landlord fails to deliver a CPI Disagreement Notice within thirty (30) days after delivery of any CPI Notice, then the Landlord shall be conclusively deemed to have agreed with the calculation of the CPI Percentage Increase set forth in such CPI Notice.

  • Proration of calculations If less than total program funding is subject to interest calculation procedures, the resulting interest liability calculations shall be prorated to 100% of program funding.

  • Rounding of Calculations; Minimum Adjustments All calculations under this Section 13 shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest one- hundredth (1/100th) of a share, as the case may be. Any provision of this Section 13 to the contrary notwithstanding, no adjustment in the Exercise Price or the number of Shares into which this Warrant is exercisable shall be made if the amount of such adjustment would be less than $0.01 or one-tenth (1/10th) of a share of Common Stock, but any such amount shall be carried forward and an adjustment with respect thereto shall be made at the time of and together with any subsequent adjustment which, together with such amount and any other amount or amounts so carried forward, shall aggregate $0.01 or 1/10th of a share of Common Stock, or more.

  • Basis for calculation of periodic payments All interest and commitment fee and any other payments under any Finance Document which are of an annual or periodic nature shall accrue from day to day and shall be calculated on the basis of the actual number of days elapsed and a 360 day year.