Fixed yearly compensation Sample Clauses

Fixed yearly compensation. As fixed compensation for the Office, the Manager, for financial year 2025 will receive a fixed annual compensation of EUR 400,000 (four hundred thousand/00) gross of any applicable withholding and legal charges (the Fixed Compensation”) and starting from financial year 2026 onwards the Fixed Compensation shall be increased and shall be equal to a fixed annual compensation of EUR 450,000 (four hundred fifty thousand/00) gross of any applicable withholding and statutory charges, payable in 12 monthly arrears. For financial year 2025, the Fixed Compensation shall be paid pro-rata temporis for the months of actual service. The Fixed Compensation will reward any activity and obligations provided in the Agreement and Annexes, including any potential Additional Assignments, unless otherwise provided in writing.