Common use of Earned Compensation Clause in Contracts

Earned Compensation. All compensation which represents payment of any amounts earned by Seller for any previously completed work for any customer or any Contract obligations for which payment was earned at any time prior to Closing shall be Seller's. If such compensation is received by Netplex or the Business after the Closing, it shall promptly be accounted for and paid or delivered to Seller and shall not be included in any calculation of earnings or expenses for the business for any period subsequent to the Closing. Any compensation collected by Seller which represents payment for Work in Progress earned after Closing through continuation or completion of such work by the Business after the Closing shall be paid to Netplex. Compensation due to either Party under this section, or any other compensation due to either Party due to audit adjustments, credits for prepaid assets, credits for prepaid expenses, vacation liabilities or other amounts agreed to by the parties, to the extent such amounts to be received are known at or before the Closing, are set forth on Schedule 8.10.