Basis of Remuneration Sample Clauses

Basis of Remuneration. Contingent upon the completion of the Acquisition, Company will issue Consultant 6,000,000 ordinary shares of Company, US$0.001 par value per share (the "Shares"), which shares shall be issued pursuant to a registration statement on Form S-8 filed by Company with the Securities and Exchange Commission, provided that: (I) Consultant shall be solely responsible for all tax returns and payments required to be filed with or made to any federal, state or local tax authority with respect to Consultant's performance of the Services pursuant to this Agreement, (ii) Consultant agrees to accept exclusive liability for complying with all applicable federal, state and local laws governing self-employed individuals, including, without limitation, obligations such as the payment of taxes, social security, disability and other contributions based on the transactions contemplated by this Agreement, (iii) Consultant hereby agrees to indemnify, hold harmless and defend Company from and against any and all such taxes and contributions, as well as any penalties and interest arising therefrom, and (iv) All the reasonable and undisputed expenses incurred, such as transportation, mail, copy and fax charges, etc., shall be reimbursed to Consultant by Company within 30 days of receipt of the related invoices.
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Basis of Remuneration. The Commission shall apply to all sales orders from customers solicited by Distributor. (Customers defined as an individual or a company who have bought the product/services from the Distributor for their own use.) No remuneration shall be paid on (i) orders solicited directly by Company within the Territory; (ii) orders received from outside the Territory unless otherwise agreed in writing by Company. (iii) No remuneration will be paid to the Distributor until 100% payment pertaining to the order is received. The company reserves the right to change the remuneration/prices on products as and when required.
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Basis of Remuneration. 5.1 (a) A setting up fee of No Charge Payable three months after the start date of management
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Basis of Remuneration. 5.1 The basis of remuneration for The Service is as specified in the Agreement.
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Basis of Remuneration. No present or former officer or employee of any Group Company is entitled to any remuneration, loan, commission or other emoluments of whatever nature calculated by reference to the whole or part of the turnover, the profits or sales of any Group Company or which becomes payable in connection with the Transaction and no Group Company is party to or bound by or has proposed or required to introduce any share option, share, profit sharing, bonus or commission scheme (whether discretionary or otherwise) in respect of any of its officers or employees.
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Basis of Remuneration. HOURLY EMPLOYEES Full-time and part-time employees whose remuneration is based on an hourly rate of pay shall be paid an hourly rate of pay for the hours worked in accordance with Schedule B – Salary Tables to this Agreement. SALARIED EMPLOYEES Full-time salaried employees who are remunerated based on an annual salary rather than an hourly rate of pay, shall be paid at a minimum the salaries as set out in Schedule B to this Agreement. Part-time salaried employees shall be remunerated based on a pro rata amount of the full-time equivalent remuneration based on part-time hours of work as a proportion of full-time hours of work, e.g. PT 15.2 hours - $60,000/38*15.2=$24,000 per annum. The annual salary is inclusive of: - reasonable additional hours of work except where specifically provided for in clause 14.7. The expectation is that employees will work minimal to no additional hours on a routine basis. In consultation with the Company, employees have the flexibility to manage their working hours in a way that helps them to balance their work and personal commitments and, in return, the Company to manage peaks and troughs in workload; - any shift penalties under clause 16; and - on-call allowances and payments detailed in clause 17.1.
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Basis of Remuneration. The basis of Consultant’s remuneration for the Services shall be as follows:
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Basis of Remuneration. Company will issue Consultant five hundred seventy five [575,000] free trading shares of the Company’s stock (the "Shares"), which shares shall be issued pursuant to a registration statement on Form S-8 filed by Company with the Securities and Exchange Commission, provided that: (I) Consultant shall be solely responsible for all tax returns and payments required to be filed with or made to any federal, state or local tax authority with respect to Consultant's performance of the Services pursuant to this Agreement, (ii) Consultant agrees to accept exclusive liability for complying with all applicable federal, state and local laws governing self-employed individuals, including, without limitation, obligations such as the payment of taxes, social security, disability and other contributions based on the transactions contemplated by this Agreement, (iii) Consultant hereby agrees to indemnify, hold harmless and defend Company from and against any and all such taxes and contributions, as well as any penalties and interest arising therefrom, and (iv) All the reasonable and undisputed expenses incurred, such as transportation, mail, copy and fax charges, etc., shall be reimbursed to Consultant by Company within 30 days of receipt of the related invoices.
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Basis of Remuneration. Percentage of Realisations The JOLs’ Remuneration shall be paid from the assets of Company on the basis of a percentage of realisations as follows: Net amount realised on sale of assets after the deduction of costs of sale Remuneration Percentage Total amount recovered from Company’s debtors and contingent debtors Remuneration Percentage Maximum Allowable Percentage Rate US$0.01 - [net sale amount] [percentage rate] US$0.01 - [recovered amount] [percentage rate] [percentage rate] [further net sale amount] [percentage rate] [further recovered amount] [percentage rate] [percentage rate] [further net sale amount] [percentage rate] [further recovered amount] [percentage rate] [percentage rate] etc The Parties acknowledge that the agreed percentage rate(s) shall not exceed the maximum percentage rates prescribed in Part C of the Schedule to the Regulations (as set out above). Prior to receiving payment of the JOLs’ Remuneration from the assets of the Company the JOLs shall seek approval from the Grand Court in accordance with the procedure set out in Part III of the Regulations, provided always that in advance of obtaining the approval of the Liquidation Committee and the Grand Court the JOLs shall be entitled to receive a payment on account of up to 80% of the JOLs’ Remuneration in accordance with Regulation 10(2) of the Regulations.
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Related to Basis of Remuneration

  • Post-Retirement Benefits The present value of the expected cost of post-retirement medical and insurance benefits payable by the Borrower and its Subsidiaries to its employees and former employees, as estimated by the Borrower in accordance with procedures and assumptions deemed reasonable by the Required Lenders is zero.

  • Year of Service An Employee must complete at least Hours of Service during a Vesting Computation Period to receive credit for a Year of Service under Article V. [Note: The number may not exceed 1,000. If left blank, the requirement is 1,000.]

  • Compensation for Breakage or Non-Commencement of Interest Periods Borrower shall compensate each Lender, as promptly as practicable after written request by such Lender (which request shall set forth the basis for requesting such amounts and shall be conclusive absent manifest error), for all reasonable losses, expenses and liabilities (including any interest paid or calculated to be due and payable by such Lender to lenders of funds borrowed by it to make or carry its Eurodollar Rate Loans and any loss, expense or liability sustained by such Lender in connection with the liquidation or deployment of such funds but excluding loss of anticipated profits) which such Lender may sustain: (i) if for any reason (other than a default by such Lender) a borrowing of any Eurodollar Rate Loan does not occur on a date specified therefor in a Funding Notice or a telephonic request for borrowing, or a conversion to or continuation of any Eurodollar Rate Loan does not occur on a date specified therefor in a Conversion/Continuation Notice or a telephonic request for conversion or continuation; (ii) if any prepayment or other principal payment of, or any conversion of, any of its Eurodollar Rate Loans occurs on a date prior to the last day of an Interest Period applicable to that Loan; or (iii) if any prepayment of any of its Eurodollar Rate Loans is not made on any date specified in a notice of prepayment given by Borrower.

  • Normal Retirement Benefit Upon Termination of Employment on or after the Normal Retirement Age for reasons other than death, the Company shall pay to the Executive the benefit described in this Section 2.1 in lieu of any other benefit under this Agreement.

  • Early Retirement Benefit If the Executive terminates employment after the Early Retirement Date but before the Normal Retirement Date, and for reasons other than death or Disability, the Bank shall pay to the Executive the benefit described in this Section 2.2.

  • In-Service Distributions [X] (1) In-service distributions may be made from any of the Participant's vested Accounts, at any time upon or after the occurrence of the following events (select all applicable): [X] (a) a Participant's attainment of age 59-1/2. [X] (b) due to hardships as defined in Section 5.9 of the Plan. [ ] (2) In-service distributions are not permitted.

  • Normal Retirement Benefits A Participant shall be entitled to receive the balance held in his or her account upon attaining his or her Normal Retirement Age or at such earlier dates as the provisions of this Article VI may permit. If a Participant elects to continue working past his or her Normal Retirement Age, he or she will continue as an active Participant. Unless the Employer elects otherwise in the Adoption Agreement, distribution shall be made to such Participant at his or her request prior to his or her actual retirement. Distribution shall be made in the normal form, or if elected, in one of the optional forms of payment provided below.

  • Retirement Benefit Should the Director still be in the Directorship ------------------ of the Association upon attainment of his 70th birthday, the Association will commence to pay him $590 per month for a continuous period of 120 months. In the event that the Director should die after becoming entitled to receive said monthly installments but before any or all of said installments have been paid, the Association will pay or will continue to pay said installments to such beneficiary or beneficiaries as the Director has directed by filing with the Association a notice in writing. In the event of the death of the last named beneficiary before all the unpaid payments have been made, the balance of any amount which remains unpaid at said death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the estate of the last named beneficiary to die. In the absence of any such beneficiary designation, any amount remaining unpaid at the Director's death shall be commuted on the basis of 6 percent per annum compound interest and shall be paid in a single sum to the executor or administrator of the Director's estate.

  • Service Credits Employees on pregnancy leave shall be entitled to normal accumulation of service credits for the duration of the pregnancy leave.

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