First Payment Methodology Sample Clauses
The First Payment Methodology clause defines the process and criteria for determining how the initial payment under an agreement will be calculated and made. Typically, this clause outlines the timing, amount, and method of the first payment, such as whether it is due upon contract execution, delivery of goods, or completion of a milestone. By clearly specifying these details, the clause ensures both parties understand their financial obligations from the outset, reducing the risk of disputes and facilitating smooth commencement of the contractual relationship.
First Payment Methodology. (A) First Installment. In the event that the Executive shall have been employed continuously by the Company during the period from the date of this Agreement through the first annual anniversary of the Effective Date, then the Company shall pay the Executive on the first annual anniversary of the Effective Date, an amount equal to 35% of the Executive's weighted average base salary during the 12 month period ending on such first annual anniversary.
First Payment Methodology