No Entitlement to Compensation Clause Samples

The "No Entitlement to Compensation" clause establishes that a party is not entitled to receive compensation or damages under specified circumstances, typically when an agreement is terminated or certain events occur. In practice, this means that if the contract ends early or if certain actions are taken by one party, the other party cannot claim additional payments, severance, or other forms of financial redress beyond what is already stipulated. This clause serves to limit financial liability and prevent disputes over unexpected compensation claims, thereby providing certainty and managing risk for the parties involved.
No Entitlement to Compensation. No Partner acting on behalf of the Partnership shall be entitled to compensation or remuneration from the Partnership for acting as a Partner except as may be specifically provided in this agreement. The provisions of this Section shall not limit any compensation or remuneration that any Partner shall receive from any other Person with which the Partnership may be an Affiliate or in which the Partnership is a participant or partner.
View SourceView Similar (3)
No Entitlement to Compensation. Valid termination of this Agreement by one party shall not entitle the other to any compensation or damages whatsoever.
View SourceView Similar (2)
No Entitlement to Compensation. I understand that I am not entitled to any compensation or benefits in exchange for the time that I donate to AHSC, and I have no desire to receive compensation or benefits from AHSC; and
View SourceView Similar (2)
No Entitlement to Compensation. No Member acting on behalf of the Company shall be entitled to compensation or remuneration except as may be specifically provided in this Agreement or otherwise by the Members. This provision shall not limit any compensation or remuneration which any Member shall receive from any other entity with which the Company may be an affiliate or in which the Company is a participant or partner. It is specifically understood that affiliates or subsidiaries of PHC may, at the sole discretion of the Managers, render administrative or management services to the Company and shall receive payment for such services determined at the discretion of the Managers, subject to the provisions of Article 9.
View SourceView Similar (2)
No Entitlement to Compensation. I understand that I am not entitled to any compensation or benefits in exchange for the time that I donate to Mercy Corps, and I have no desire to receive compensation or benefits from Mercy Corps; and
View Source
No Entitlement to Compensation. (a) If you terminate this Agreement, except as expressly provided in this Agreement, we will not be entitled to any compensation, but will be entitled to any Fees and expenses payable under this Agreement. (b) If we terminate this Agreement, except as expressly provided in this Agreement, you will not be entitled to any compensation.
View Source
No Entitlement to Compensation. 36 8.02 Reimbursement ..................................... 37 ARTICLE 9 - TRANSFERS
View Source
No Entitlement to Compensation. No Member acting on behalf of the Company shall be entitled to compensation or remuneration except as may be specifically provided in this Agreement or otherwise by the Members. This provision shall not limit any compensation or remuneration which any Member shall receive from any other entity with which the Company may be an affiliate or in which the Company is a participant or partner. It is specifically understood that affiliates or subsidiaries of the Managing Member may render administrative or management services to the Company and shall receive payment for such services on a customary and reasonable commercial basis. Notwithstanding the foregoing, all transactions, agreements or arrangements by and among the Company, the Managing Member, the members of the Managing Member, the Investor Member, MI Manager LLC, Northstar Capital Partners LLC and/or any of their respective affiliates involving payment or other consideration to be borne by the Company or the Investor Member and all compensation payable with respect thereto shall require consent of the Non-Affiliated Member which approval may be unconditionally withheld.
View Source

Related to No Entitlement to Compensation

  • Entitlement to Benefits Notwithstanding the other provisions of this Agreement, a benefit under this Agreement shall not be granted in respect of an item of income if it is reasonable to conclude, having regard to all relevant facts and circumstances, that obtaining that benefit was one of the principal purposes of any arrangement or transaction that resulted directly or indirectly in that benefit, unless it is established that granting that benefit in these circumstances would be in accordance with the object and purpose of the relevant provisions of this Agreement.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • 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.

  • No Entitlement or Claims for Compensation By accepting this Agreement, you hereby acknowledge and agree as follows: