Compensation Practices Sample Clauses
The Compensation Practices clause defines the policies and procedures an organization follows regarding employee pay and benefits. It typically outlines how salaries are determined, the frequency and method of payment, and may address issues such as overtime, bonuses, or adjustments for performance. By establishing clear guidelines for compensation, this clause ensures transparency and consistency in how employees are remunerated, helping to prevent disputes and promote fairness within the workplace.
Compensation Practices. (a) Lapse of Unvested Equity Awards. The Company will in good faith endeavor to implement in all future executive hiring, severance or change-of-control agreements and retirement agreements, requirements that all unvested equity awards lapse not later than one year from termination.
(b) Clawback Upon Violation of Equity Incentive Plan Terms. Any officers, directors, or employees having responsibilities involving plan administration, who violate the terms of the 2008 Long Term Incentive plan, or any subsequent plans, shall be subject to disciplinary action as determined by the Compensation Committee or Board, or pursuant to delegated authority. Disciplinary action may include, reprimand or termination in the case of an employee, reprimand or removal from the Compensation Committee and/or Board in the case of a director, and forfeiture or repricing of options or the repayment of profits received from the exercise of options granted in connection with a knowing violation of the plan.
Compensation Practices. MAM compensates its agents as a function of the revenue they generate for the firm. All compensation packages are pre-approved by a member of higher management. Clients pre-approve all fees and commissions.
Compensation Practices. The Officer may be paid an annual bonus at the discretion of the CEO (the “Bonus”). All compensation for the Officer will be paid periodically in accordance with the Company’s normal payroll practices and will be subject to the usual, required withholding. The Company reserves the right to cancel or change any Bonus plan or Bonus scheme it offers to its officer(s) at any time, and the parties agree that the Company will not be held liable for such cancellation or change.
Compensation Practices. The Board of Directors shall adopt a resolution setting forth the following compensation principles:
Compensation Practices