DEFINED COMPENSATION Clause Samples
The Defined Compensation clause establishes a predetermined amount or method for calculating payment owed under a contract. This clause specifies exactly how much compensation a party will receive, often detailing the basis for calculation, such as a fixed fee, hourly rate, or formula tied to performance metrics. By clearly outlining compensation terms in advance, it eliminates ambiguity and potential disputes over payment, ensuring both parties understand their financial obligations and entitlements.
DEFINED COMPENSATION. An employee in a regular or limited-term position may, at his or her request, participate in the County's Section 457(b) Defined Compensation Plan.
DEFINED COMPENSATION. Employees, at their sole option, may authorize and direct the Employer to deposit sick leave credit pay under Section 9.03c) to a deferred compensation plan or other tax qualified plan administered by the Employer provided such option is exercised at the same annual time as regular changes in deferred compensation payroll deductions are normally permitted.