Compensation for Personal Services Clause Samples
The "Compensation for personal services" clause defines how and when an individual or entity will be paid for services they personally provide under an agreement. It typically outlines the payment structure, such as hourly rates, salaries, or project-based fees, and may specify payment schedules, invoicing requirements, and any conditions for reimbursement of expenses. This clause ensures both parties have a clear understanding of compensation terms, reducing the risk of disputes over payment and clarifying financial expectations for the services rendered.
Compensation for Personal Services. DOE-approved standards (e.g., set forth in an advance understanding or appendix), if any, shall be applied to the Total Compensation System. The Contractor’s Total Compensation System shall be fully documented, consistently applied, and acceptable to the Contracting Officer. Costs incurred in implementing the Total Compensation System shall be consistent with the Contractor's documented Human Resources Compensation Plan as approved by the Contracting Officer.
Compensation for Personal Services. (6) The head of the contracting ac- tivity is the agency head’s designee for the purpose of FAR 31.205–6(g)(6). [64 FR 43627, Aug. 11, 1999, as amended at 72 FR 45696, Aug. 15, 2007; 80 FR 6922, Feb. 9, 2015] Sec.
Compensation for Personal Services. The payment by any person of com- pensation for the personal services of another person if those services are rendered without charge to a political committee for any purpose, except for legal and accounting services provided under 11 CFR 100.74 and 100.75, is a con- tribution. No compensation is consid- ered paid to any employee under any of the following conditions:
Compensation for Personal Services. Payment for the Consulting Services shall be in the form of a five year non-qualified stock option in the amount of 500,000 shares with an exercise price at fair market value on the Effective Date (the “Option”). The Option shall vest in semi-annual installments over a twenty-four (24) month period commencing on the Effective Date, subject to acceleration of vesting upon completion of the following milestones in the amounts set forth below. In the event this Agreement is terminated by either party, further vesting of the option is terminated.
Compensation for Personal Services a. Definition. Compensation for personal services includes all compensation paid currently or accrued by the organization for services of employees rendered during the period of the award (except as otherwise provided in subparagraph h). It includes, but is not limited to, salaries, wages, director's and executive committee member's fees, incentive awards, fringe benefits, pension plan costs, allowances for off-site pay, incentive pay, location allowances, hardship pay, and cost of living differentials.
Compensation for Personal Services. (a) There may be included among the ordinary and necessary expenses paid or incurred in carrying on any trade or business a reasonable allowance for ▇▇▇- aries or other compensation for per- ▇▇▇▇▇ services actually rendered. The test of deductibility in the case of com- pensation payments is whether they are reasonable and are in fact pay- ments purely for services.
(b) The test set forth in paragraph (a) of this section and its practical appli- cation may be further stated and illus- trated as follows:
(1) Any amount paid in the form of compensation, but not in fact as the purchase price of services, is not de- ductible. An ostensible salary paid by a corporation may be a distribution of a dividend on stock. This is likely to occur in the case of a corporation hav- ing few shareholders, practically all of whom draw salaries. If in such a case the salaries are in excess of those ordi- narily paid for similar services and the excessive payments correspond or bear a close relationship to the stock- holdings of the officers or employees, it would seem likely that the salaries are not paid wholly for services rendered, but that the excessive payments are a distribution of earnings upon the stock. An ostensible salary may be in part payment for property. This may occur, for example, where a partnership sells out to a corporation, the former partners agreeing to continue in the service of the corporation. In such a case it may be found that the salaries of the former partners are not merely for services, but in part constitute pay- ment for the transfer of their business.
(2) The form or method of fixing com- pensation is not decisive as to deduct- ibility. While any form of contingent compensation invites scrutiny as a pos- sible distribution of earnings of the en- terprise, it does not follow that pay- ments on a contingent basis are to be treated fundamentally on any basis dif- ferent from that applying to compensa- tion at a flat rate. Generally speaking, if contingent compensation is paid pur- suant to a free bargain between the employer and the individual made be- fore the services are rendered, not in- fluenced by any consideration on the part of the employer other than that of securing on fair and advantageous terms the services of the individual, it should be allowed as a deduction even though in the actual working out of the contract it may prove to be greater than the amount which would ordi- narily be paid.
Compensation for Personal Services