Modified Compensation Clause Samples

Modified Compensation. If premiums in excess of the commission limits described above are paid at issue or over their lifetime, commissions will be payable on a modified basis. Commission in excess of the commission limits will be spread out over a seven-year period on all plans on the premium in excess of the limits. The annual commission received on this basis will be one-sixth of the usual commission. These payments will stop upon the seventh annual payment for all annuities or the termination of the contract, if sooner. Chargebacks due to exercise of the confinement waiver benefit will be limited to those occurring within 60 days of the issue date. For Saver’s Index Annuity I and III, the commission paid will be reduced and paid according to the schedules found in the Additional Notes following the Schedule of Commissions. Please refer to the Schedule of Commissions for specific details. Additional policies and supplements, which may be developed by LBL from time to time, may be added to the Commission Rules and Schedule of Commissions by addendum and shall be subject to the same conditions as set forth herein. REPLACEMENT RULES These Replacement Rules address (1) whether any surrender charge may be assessed to the policyholder; and
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Modified Compensation. As the total consideration for the services, which the Consultant renders under the Agreement, the Consultant shall be entitled to the following: (i) a monthly consulting fee in the amount of U.S. $10,000 (the “Monthly Consulting Fee”), commencing retroactively on July 1, 2011 and ending on the date of the termination of this Agreement, and the Monthly Consulting Fee shall be payable within the first ten calendar days of each month, commencing June 1, 2014 and ending on the date of the termination of this Agreement; (ii) a monthly business-only cellular telephone allowance; (iii) Except as otherwise stated in this Section 1.1, no reimbursement of any and all other expenses (including, but not limited to, air fare, car rental, lodging, meals, business and related travel expenses) incurred by the Consultant shall be reimbursed by the Company. (iv) This Section 1.1 of the Amendment shall supersede and replace Section 2.1 of the Agreement on Compensation in its entirety.
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Modified Compensation. Compensation is modified as follows, adding the language "contract shall not exceed $449,999."
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Related to Modified Compensation

  • Fixed Compensation Each of the Co-Managers will receive certain additional fixed compensation pursuant to separate agreements with Masterworks, which is not tied specifically to this Offering or to any other specific offering, but a portion of which is deemed to be underwriting compensation for this Offering. Such additional fixed compensation relates to (i) a monthly retainer for administrative support services and (ii) fixed compensation payments to representatives of Arete. $8,224 is a reasonable estimate of costs and expenses referenced in clauses (i) and (ii) above that are appropriately allocated to this Offering.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.