Retrospective Performance Payment Clause Samples

A Retrospective Performance Payment clause establishes a mechanism for compensating a party based on their performance, assessed after the completion of a specified period or project. Typically, this clause outlines the criteria or metrics used to evaluate performance, such as meeting certain milestones, quality standards, or cost savings, and stipulates that payment will be made only if these benchmarks are achieved. Its core practical function is to incentivize high performance by tying compensation to actual results, thereby aligning the interests of both parties and mitigating the risk of paying for subpar outcomes.
Retrospective Performance Payment. The maximum retrospective performance payment available to the State under this model is based on achieving overall federal savings as described in the MOU and in Section IV.I above. The performance payment qualifications will vary by year. Additional detail is provided in Appendix A. IV.J.3.b.vii.1. Calculation of Retrospective Performance Payment: CMS will consult with the State on methodological issues and data collection to execute the retrospective performance payment calculations.
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Retrospective Performance Payment. The maximum retrospective performance payment available to the State under this model is based on achieving overall federal savings as described in the MOU and in Section
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Related to Retrospective Performance Payment

  • 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”).

  • 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).

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • 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.

  • Annual Performance Review The Employee’s performance of his duties under this Agreement shall be reviewed by the Board of Directors or a committee of the Board of Directors at least annually and finalized within thirty (30) days of the receipt of the annual audited financial statements. The Board of Directors or a committee of the Board of Directors shall additionally review the base salary, bonus and benefits provided to the Employee under this Agreement and may, in their discretion, adjust the same, as outlined in Addendum B of this Agreement, provided, however, that Employee’s annual base salary shall not be less than the base salary set forth in Section 4(A) hereof.