Minimum Remuneration Clause Samples

Minimum Remuneration. Notwithstanding anything to the contrary herein contained, where in any financial year during the currency of the tenure of the Managing Director, the Company has no profits or its profits are inadequate, the Company will pay to the Managing Director remuneration by way of Salary, Benefits, Perquisites and Allowances, and Incentive Remuneration as specified above.

Minimum Remuneration. If, in any financial year, the Company has no profits or its profits are inadequate,the Company shall pay remuneration to its Whole-time Director in accordancewith the provisions of Schedule V of the Act and if it is not able to comply withsuch provisions, with the previous approval of the Central Government.

Minimum Remuneration. 24.1 Subject to clause 24.2, PONI and Provincial Players must be paid a minimum monthly Remuneration of R11 985.00 (eleven thousand nine hundred and eighty-five rand). 24.2 Clause 24.1 does not apply to Provincial Players contracted by a Domestic Franchise or Non-Franchise on a Free-Agent Basis, who may be paid any amount, provided that it complies with the minimum requirements of the Basic Conditions of Employment Act 75 of 1997 (as amended). 24.3 A Semi-Professional Player must be paid a minimum monthly Remuneration of R6 790.00 (six thousand seven hundred and ninety rand). 24.4 Development Players may be paid any amount. 24.5 The amounts stipulated in clause 24.1 in respect of PONIs and Provincial Players contracted by International Franchises and Domestic Franchises, shall annually on 1 July (from 1 July 2025) increase by the average rate of CPI over the preceding twelve months (calculated from 1 June to 31 May). 24.6 The Parties shall annually negotiate in good faith the increases applicable to the amounts stipulated in clause 24.3 in respect of Semi-Professional Players and the increases applicable to the amounts stipulated in clause 24.1 read with clause 24.2 in respect of PONIs and Provincial Players contracted by Non-Franchises.

Minimum Remuneration. In the event of loss or inadequacy of profits in any financial year during the tenure of the appointment, the ▇▇. ▇▇▇▇▇ ▇. Parekh shall be paid remuneration by way of salary, perquisites and allowances, and commission as set out above, as minimum remuneration, subject to restrictions, if any, set out in Schedule V to the Act, from time to time. Further, in accordance with Regulation 17(6)(e) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, he shall be paid the above remuneration even if the compensation payable to him in any year exceeds Rs. 5 crores or 2.5% of the net profits of the Company, whichever is higher or the aggregate annual remuneration of all the Executive Directors exceeds 5% of the net profits of the Company calculated as per the provisions of Section 198 of the Companies Act, 2013, during his tenure.

Minimum Remuneration. If in any financial year, during the currency of his tenure, the Company has no profits or its profits are inadequate, then in such an event, subject to the approval of the Shareholders as may be required, the remuneration by way of salary, perquisites and commission as specified in paragraphs I, II and III above will be paid as minimum remuneration subject to and in accordance with the provisions of Section 197 read with Schedule V of the Companies Act, 2013 (including any statutory modifications or re-enactments thereof, for the time being in force). REIMBURSEMENT OF EXPENSES: Expenses incurred by MD for travelling, boarding, lodging and entertainment including expenses of his family members and attendant(s) during business trips and expenses for use of car for official duties and communication expenses at residence shall be reimbursed at actuals and shall not be considered as perquisites.

Minimum Remuneration. Notwithstanding anything to the contrary herein contained where in any financial year during the currency of the tenure of ▇▇. ▇▇▇▇▇, the Company has no profits or its profits are inadequate, the Company will pay remuneration by way of salary and perquisites as specified above and shall be subject to a maximum as permitted, under Section 197, 198 and other applicable provisions, if any, of the Act and Schedule V thereto.

Minimum Remuneration. Notwithstanding anything to the contrary contained herein, where in any financial year, during the continuation of the tenure of ▇▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (DIN: 00263725), Chairman & Managing Director of the Company, the Company has no profits or its profits are inadequate, ▇▇. ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ (DIN: 00263725), shall be entitled to receive remuneration including commission subject to the provision of Sections 197 and 198 read with Schedule V and all other applicable provisions of the Companies Act, 2013 or as may be prescribed by the Central Government from time to time.

Minimum Remuneration. Further and notwithstanding anything herein, should the Company incur a loss or have inadequate profits in any financial year closing on and after March 31, 2017, during the tenure of U B ▇▇▇▇▇▇ ▇▇▇ as a Whole-time Director of the Company, the Company shall pay to U B ▇▇▇▇▇▇ ▇▇▇ an aggregate remuneration not exceeding the limits specified under Section II of Part II of Schedule V to the Companies Act, 2013 (including any statutory modifications or re-enactment(s) thereof, for the time being in force), or any other applicable for the time being in force.

Minimum Remuneration. The minimum gross remuneration of a Player with a full-season professional contract is set on a scale basis considering the number of seasons in the EuroLeague with a professional contract as established in 4.A.a: The minimum remuneration for a temporary professional contract will be prorated in relation to a full-season professional contract. The prorate will proportionally be applied to full season professional contracts that are registered after the start of the season. To qualify for the minimum remuneration in seasons 2, 3, 4 and 5+, a Player who did not have a full-season professional contract must have been on the Game List of a EuroLeague team for a minimum of 10 games each season. In any of the cases above, the seasons in which the Player has participated in the EuroLeague before the adoption of the EFA will be taken into consideration. For Players with professional contracts that were signed prior to the EFA coming into force and that provide for a remuneration lower than the minimum remuneration mentioned above, the following transitory rule applies: during the 2021–22 season no adjustment to the remuneration may be demanded by the Player. Any potential adjustments for the following seasons will be discussed and agreed by the joint working group referred to in Clause 23 prior to the end of the 2021–22 season. If a player with a youth/linked team contract has been on the Game List in at least 25 EuroLeague games (accumulated throughout different seasons of his youth/linked team contract after the entry into force of the EFA), he must be offered a professional contract, and his season’s remuneration will be calculated again on at least a pro rata basis of the minimum remuneration established for a season 1 professional contract starting from the moment he reaches this threshold.