Additional payments and compensations Clause Samples
The "Additional payments and compensations" clause defines the circumstances under which one party may be required to make extra payments or provide compensation beyond the standard contract terms. This clause typically outlines specific events, such as unforeseen costs, changes in project scope, or delays caused by the other party, that trigger such payments. Its core practical function is to ensure fairness by addressing situations where the original contract price does not cover all expenses, thereby allocating financial risk and clarifying the process for handling unexpected costs.
Additional payments and compensations. 3.4.1. Holiday allowance The employer has an annual holiday allowance scheme. The holiday allowance is 8% of the fixed annual salary that applies in the month of payment.
Additional payments and compensations. 3.4.1. Holiday allowance The employer has an annual holiday allowance scheme. The holiday allowance is 8% of the fixed annual salary that applies in the month of payment. For employees, the holiday allowance is always at least the amount of the statutory minimum holiday allowance. This minimum is pro rata for part-time employees. If the employment has lasted shorter than the calendar year, the holiday allowance is paid pro rata. If the employee leaves the employment in the course of the calendar year and has received more holiday allowance than entitled before their departure, the difference is settled upon the employee’s departure.