Disbursement of Compensation Clause Samples

The Disbursement of Compensation clause outlines the process and conditions under which payments are made to a party as compensation for services rendered, damages, or other agreed-upon reasons. Typically, this clause specifies the timing, method, and documentation required for payment, such as bank transfers upon completion of milestones or after submission of invoices. Its core practical function is to ensure both parties have a clear understanding of when and how compensation will be provided, thereby reducing disputes and ensuring timely fulfillment of financial obligations.
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Disbursement of Compensation. The Employees agree that the Cash Payment shall be disbursed as specified in Schedule 1.2 attached hereto and made a part hereof and to the bank accounts set forth therein.
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Disbursement of Compensation. Notwithstanding Paragraph 28(b), payments of compensation shall be made to the Current Vehicle Owners by the Project Administrator within 120 days following the notice to Current Vehicle Owners as provided in Paragraph 31 and shall be based upon the timely filing of a properly completed claim form, as set forth in the notice to be provided to eligible Current Vehicle Owners, referenced above at Paragraphs 31 and 32, and review and approval of that claim by the Project Administrator. Current Vehicle Owners whose claim forms are denied by the Project Administrator shall be notified in writing. Any disputes relating to any determination made by the Project Administrator that a claim form has not been properly completed, or that the Current Vehicle Owner who receives notice is not eligible for compensation shall be subject to review and determination by the Executive Committee, upon request of the Current Vehicle Owner, and such determination shall be binding on State Farm. Within 60 days of the Effective Date of this AVC, the Executive Committee, State Farm and the Project Administrator shall develop a set of criteria to be utilized in resolving such disputes. All Current Vehicles Owners who file a claim will be contacted in writing with notice if the claim is denied and such notice shall include a statement of the time period in which the Current Vehicle Owner may dispute a denial of their claim form.
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Disbursement of Compensation 
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Disbursement of Compensation. 12 3.4 Transfer of Funds to the Trustee....................................................................13
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Disbursement of Compensation. 6 ARTICLE IV.
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Disbursement of Compensation. 6.1 The LOCAL PARTNER will invoice the ▇▇▇▇▇ SWCD on a quarterly basis or within 30 days of project completion. 6.2 All payments not disputed in good faith shall be made within 35 days of receipt of invoice. 6.3 This is a lump sum “to not exceed” contract. Expenses for each task may vary from the contacted amount, however the total compensation must not exceed the agreed upon total amount.
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Related to Disbursement of Compensation

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Amount of Compensation City shall pay Contractor for performance of all Services rendered in accordance with this Contract in an amount not to exceed $3,000,000.

  • Compensation; Reimbursement At the closing of each Offering (each, a “Closing”), the Company shall compensate ▇▇▇▇▇▇▇▇▇▇ as follows:

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2. The Bank shall pay Executive as compensation a salary of not less than [$ ] per year (“Base Salary”). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall be conducted by a committee designated by the Board, and the Bank may increase, but not decrease (except a decrease that is generally applicable to all employees) Executive’s Base Salary (with any increase in Base Salary to become “Base Salary” for purposes of this Agreement). Base Salary shall not include any director’s fees that the Executive is entitled to receive as a director of the Bank or any affiliate of the Bank. Such director’s fees shall be separately paid to the Executive. (b) Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank currently or in the future to its senior executives and key management employees. Executive will be entitled to participate in any incentive compensation and bonus plans offered by the Bank in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement. (c) In addition to the Base Salary provided for by paragraph (a) of this Section 3, the Bank shall pay or reimburse Executive for all reasonable travel and other reasonable expenses incurred by Executive performing his obligations under this Agreement and may provide such additional compensation in such form and such amounts as the Board may from time to time determine. The Bank shall reimburse Executive for his ordinary and necessary business expenses including, without limitation, fees for memberships in such clubs and organizations as Executive and the Board shall mutually agree are necessary and appropriate for business purposes, and travel and entertainment expenses, incurred in connection with the performance of his duties under this Agreement.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.