Fade out and slide element upwards as user scroll down

fade-slide-scroll.js

(function ($) {
	"use strict";

	// as user scrolls down / up, fade and move banner text
	$(document).on("ready", function () {
		var reFadeAndTranslate, deReFadeAndTranslate, \$bannerText;

		\$bannerText = $("div.banner-text");

		reFadeAndTranslate = function () {
			\$bannerText.css({
				"opacity": 1 - $(window).scrollTop() / 500,
				"transform": "translateY(" + -($(window).scrollTop()/5) + "px)"
			});
		}

		deReFadeAndTranslate = _.debounce(reFadeAndTranslate, 10);

		$(window).on("scroll", deReFadeAndTranslate);
	});
}(jQuery));