COMPENSATION AND TIME OF PERFORMANCE Clause Samples
COMPENSATION AND TIME OF PERFORMANCE. 7.1 The Artist shall be paid for services satisfactorily rendered pursuant to this Agreement in accordance with the terms herein, and the scope of work in Section 2. and the payment schedule set forth in section 2.2, herein, and subsequent adjustments, changes or additions as specifically provided for in this Agreement. Such payment shall be full compensation for work performed and services rendered, for all supervision, labor, supplies, materials, equipment or use thereof, taxes, and for all other necessary incidentals including transportation of the Work to the designated site.
7.2 The amount and schedule of payments to the Artist are contained in section 2.2 herein, provided that such payments shall not exceed a maximum amount of Eleven Thousand, Two Hundred and Fifty Dollars ($11,250), subject only to adjustments, changes or additions as specifically provided for in this Agreement ("Total Price").
7.3 In the event the Artist incurs costs in excess of the Total Price, the Artist shall pay such excess from his/her own funds, and FAC shall not be required to pay any part of such excess, and the Artist shall have no claim against the City on account thereof. This section shall not be construed to require the Artist to absorb excess costs not primarily attributable to the Artist’s conduct, erroneous cost estimates or failure to perform in a timely fashion.
7.4 In the event that FAC determines that services for which it has been invoiced do not meet the contract specifications and that it intends to withhold payment, FAC shall provide detailed written notice to the Artist within fifteen (15) days of receipt of invoice, specifying the failure of performance for which FAC intends to withhold payment. The Artist shall thereafter meet contract standards to the satisfaction of FAC or advise FAC that he/she disputes the City’s determination that the specifications have not been met.
7.5 FAC shall pay all invoices that meet contract specifications within thirty (30) days of receipt of invoice.
7.6 No payment to the Artist for any work performed or services rendered shall constitute a waiver or release by the City of any claims, rights or remedies it may have against the Artist under this Agreement or by law, nor shall such payment constitute a waiver, remission, or discharge by the City of any failure or fault of the Artist, to satisfactorily perform the Work and services as required under this Agreement.
COMPENSATION AND TIME OF PERFORMANCE. IN return for CCI's services, Client agrees to pay compensation as more specifically described in Exhibit "B" of this agreement. Compensation is to be denominated in US dollars, in cash, or property, as the case may be, and is either I) payable upon execution of this agreement, all as stipulated in Schedule "B", or 2) payable, in whole or part, in staged payments, as the case may be and as described in Exhibit(s) " A" and/or "B" upon CCI beginning performance, completion of a phase of its performance, or as otherwise specified by the parties.
a) Should compensation be paid, partially or wholly, and in lieu of cash, in the form of securities as payment for services in kind, then Client and CCI shall agree on the value of such securities tendered, and such valuation will be stipulated and comprise, pro-rata a stipulated portion of the Compensation, itemized in Schedule B. Should securities tendered by part of the compensation, it is agreed between the patties hereto that, once tendered, CCI shall have been deemed to have received final payment, for either all or part of their compensation under this agreement; and
b) further, all investment risk of any securities tendered, shall be agreed between the parties, to belong to CCI, to pass at the time of tender; however, it is further agreed between the parties that the above term "Securities" does not include "options to purchase" securities, of any issuer, and that options will not have an ascertainable value for purposes of compensation, thus will not be accounted for as described above. The parties also agree, however, that should any such options be granted to CCI in connection with this Agreement will be part of its compensation, or deemed to be legal consideration for CCI's services; and
c) it is mutually agreed between the parties hereto, that CCI retains the option to begin its performance under this agreement, prior to the payment of its agreed Compensation, and that if performance has begun prior to the execution of the Agreement, such performance by CCI is hereby agreed by Client to be ratified and approved as if it were undertaken after execution of this Agreement.
COMPENSATION AND TIME OF PERFORMANCE