Compensation Due Clause Samples
The 'Compensation Due' clause defines the circumstances under which one party is obligated to pay compensation to the other, typically in the event of a breach, termination, or failure to fulfill contractual obligations. This clause outlines the specific triggers for compensation, the method for calculating the amount owed, and the timeline for payment. For example, it may require payment for services rendered up to the date of termination or for damages resulting from non-performance. Its core practical function is to ensure that parties are fairly compensated for losses or work performed, thereby reducing disputes and providing financial clarity in the event of contract issues.
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Compensation Due. $161,074.00 for the above deliverables.
Compensation Due. On the first regular City payday following the final day of employment, Employee shall be paid any regularly due compensation, accrued leave, and unused sick days payable to Employee in accordance with Employer’s existing policies and procedures. Employee expressly acknowledges that he has no claims or entitlement to additional past or present pay or compensation from Employer, except as set forth herein, and he expressly waives claims for such additional compensation, pay or benefits not specifically set forth in this Agreement. Nothing in this Section or Agreement shall be construed to deny or limit Employee’s rights to continuation of health coverage as authorized and provided in the Consolidated Omnibus Budget Reconciliation Act (COBRA).
Compensation Due. The Company shall cause to be paid to Hills all accrued and unpaid salary, incentive compensation, unused vacation time, expense reimbursements and vehicle reimbursements due to him, as set forth in the Hills Agreement, through and including the Effective Date, paid pro rata as applicable.
Compensation Due. Professional educators will be paid the balance of their contracted salary after completion of their obligations. This balance will be paid as soon as feasible after receipt of the necessary funds, but no later than June 30, provided funds are made available by this date by the Kansas Department of Education.
Compensation Due. Unless otherwise specified herein, the compensation due to Employee shall vest and become payable according to the following table: $50,000.00 plus accrued interest on funds on deposit shall be paid between January 1, 1997 and January 15, 1997; $50,000.00 plus accrued interest on funds on deposit shall be paid between January 1, 1998 and January 15, 1998; $50,000.00 plus accrued interest on funds on deposit shall be paid between January 1, 1999 and January 15, 1999; and $50,000.00 plus all remaining funds on deposit shall be paid between January 1, 2000 and January 15, 2000. At the time that such compensation vests, the Company shall be entitled to offset Employee's loan repayment pursuant to the schedule specified below against such amounts then due. All such sums shall, at the time they vest, be reported on Employee's W-2 as taxable income. The Company shall withheld all applicable state and federal taxes from sums paid or due to the Employee.
Compensation Due. The parties agree to a fair market value for the Properties and the Right of Way Acquisition of $6.00 per square foot. This valuation is based on the “Complete Appraisal Presented as a Summary Report, Des Moines Creek Business Park, as of September 21, 2010”, prepared by GVA ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ dated September 21, 2010.
Compensation Due. In full satisfaction of the Company's obligations to Wiss▇▇▇ ▇▇▇er the Employment Agreement, as amended by Section 1 of Amendment No. 3 to Employment Agreement, and in consideration of the noncompetition provisions contained herein, the Company hereby agrees to pay to Wiss▇▇▇ ▇▇▇ regular salary through the Effective Date plus the total sum of $1,087,917, comprised of the following components: (i) $975,000 (representing 300% of the base salary of Wiss▇▇▇ ▇▇▇rently in effect); (ii) $16,667 (representing deferred compensation through August, 1998 due to Wiss▇▇▇); (iii) $65,000 (representing 8/12 of Wiss▇▇▇'▇ ▇▇▇entive compensation received in fiscal year 1997) and (iv) $31,250 (representing accrued vacation pay). The compensation due Wiss▇▇▇ ▇▇▇ll be paid as follows: $837,917 shall be paid on or before July 6,1998, and $250,000 shall be paid on or before July 6,1999, subject to required withholding amounts.
Compensation Due. In the event of termination by District of the Architect's services, or suspension or abandonment of this Project, there shall be due and payable within thirty
Compensation Due. ▇▇▇▇▇ agrees that the BROKER shall receive compensation when BUYER, or any other person acting on BUYER’s behalf, purchases, exchanges for, obtains an option on or leases real property located and/or shown by the BROKER to the BUYER, which compensation shall become due and payable when title passes or BUYER enters into a written or oral lease agreement for any rental of the PROPERTY during the term of this AGREEMENT.