Compensation Responsibility Clause Samples
The Compensation Responsibility clause defines which party is obligated to pay for specific costs, damages, or losses arising under the agreement. Typically, it outlines the types of compensation covered, such as reimbursement for expenses, payment for services rendered, or indemnification for third-party claims. By clearly assigning financial responsibility, this clause helps prevent disputes over payment and ensures that each party understands their obligations, thereby promoting fairness and clarity in the contractual relationship.
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Compensation Responsibility. Practice shall be solely responsible for establishing and paying the compensation and fringe benefits, if any, to the Medical Providers. Practice shall be solely responsible for the payment and withholding of appropriate amounts for income tax, social security, unemployment insurance, and state disability insurance taxes. Practice shall also maintain in full force and effect all worker’s compensation insurance as may be required under the worker’s compensation laws of the State.
Compensation Responsibility. 4.5.1 Unless otherwise described in this Agreement, the Transferor hereby confirms that in the event the Transferee and/or the Target Company suffers from any losses arising from legal responsibilities incurred by the Target Company before the Closing Date (except for those disclosed to the Transferee), the Transferor shall be liable for full guarantee or compensation to the Transferee, the Target Company or Vimicro Shenzhen. For the avoidance of doubt, the Transferor hereby undertakes to the Target Company, Vimicro Shenzhen and the Transferee that the Transferor shall compensate the Target Company, Vimicro Shenzhen and the Transferee for all legal responsibilities and liabilities incurred by the Target Company before the Closing Date, so as to guarantee the Target Company, Vimicro Shenzhen and the Transferee suffer from no losses.