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Eliot Lict <br />compensation on active deals that have been declared prior to termination <br />shall become payable in full at the time of it's eventual execution, closing, and <br />opening. (Clarify overlap with prior contract' <br />7. Compensation Carryover— It is recognized that Landform expends certain <br />effort and expense in the advancement of the project and individual users on <br />an incentive basis. As such, the HRA receives value for those efforts that <br />survive the termination of this agreement. Therefore, in the event of <br />termination of this agreement, either at expiration or before, Landform shall <br />receive compensation as outlined in Article 4, Section B, on any and all <br />development projects put under contract by the HRA for a period of XX <br />months following the termination of the agreement. This includes contracts to <br />purchase, lease, swap, develop, or otherwise dispose of property within the <br />project. Said compensation shall be in accordance with all terms and <br />conditions identified within Article 4, Section B. Once under contract, <br />compensation shall continue on a project -by- project bases until complete. <br />Compensation shall follow the particular user or buyer originating the <br />agreement regardless of subsequent renewals or extensions of the <br />contractual agreement. <br />. ................. <br />a. Activo doe's will bo doclarod, approvod, and trackod through a "Hot <br />List" incorporatcd into thc active Dashboard. This list will bc presented to thc <br />placomont on tho Hot Lict unlocs thoro has boon cufficiont intoroct in tho <br />Lict will havo no binding offoct if it has not rocoivod formal approval of tho <br />HRA. In thc event of termination of this Agreement, thc current Hot List will <br />be finalized and approved by all partics. <br />b. For Inccntivc Compcnsation coming duc in thc 12 months following <br />thc approval of thc final Hot List, full Inccntivc Compensation will bc paid <br />ph 2.c.,d., and o. abovo. <br />C. Following thc 12 m nt h t <br />h throug 2'1 .. n th t I nccn ti vc <br />Componsation will bo 80% of tho full lncontivo Componsation. <br />d. Following thc 36th" n t h thr g h th 18t n t th <br />h e I <br />Compcnsation will bc '10% of thc full Inccntivc Compcnsation. <br />o. Following tho ,18th nt th <br />h r the 60th n t <br />n th h e ln „e <br />Compcnsation will bc 20% of thc full Inccntivc Compcnsation. <br />f. Aftor tho 60 <br />Landform. , In thc event of termination of this agrccmcnt, any outstanding <br />1 Ramsey -2011 DM Agreement 1 9 2010 10 <br />8. If, by the agreement of both parties, services outlined in this proposal are <br />provided outside the Project all terms and conditions outlined in this proposal <br />shall apply on a parcel -by- parcel basis. <br />9. Exceptions /Exclusions to Incentive Compensation: <br />a. No Incentive Compensation will become due on any public infrastructure <br />(roads, bridges, utilities, etc.) projects constructed within the Project. <br />. ...................... <br />Formatted: Indent: Left: 0.75 ", Numbered + <br />Level: 1 + Numbering Style: 1, 2, 3, ... + Start <br />at: 1 + Alignment: Left + Aligned at: 0.25" + <br />Indent at: 0.5” <br />Formatted: No bullets or numbering <br />Formatted: Indent: Left: 1" <br />Formatted: Indent: Left: 1 ", No bullets or <br />numbering <br />Formatted: Indent: Left: 1" <br />