OPERATING COMPENSATION Clause Samples

The OPERATING COMPENSATION clause defines how and when payments are made to a party for managing or operating a business, asset, or project. Typically, it outlines the calculation method for compensation, such as fixed fees, percentages of revenue, or performance-based incentives, and specifies the timing and conditions for payment. This clause ensures that the operator is fairly compensated for their services and clarifies financial expectations, reducing the risk of disputes over payment.
OPERATING COMPENSATION. 7.1 Operating compensation and general principles of its payment 7.1.1 The Operating Compensation has been agreed upon in Appendix 5. The Operating Compensation shall only be paid for the actual operating of Air Services and for those costs incurred at the airports of Savonlinna and Helsinki that specifically apply to operations on this particular route. The Operating Compensation shall cover any and all obligations imposed on the Air Operator under this Agreement, and the compensation may only be adjusted in the cases described below in this Agreement. 7.1.2 The Operating Compensation shall include taxes and official fees, such as landing fees, route air navigation service charges, terminal navigation charges, etc., excluding the VAT which will be added to the prices and the amount of which will be determined by the legislation in force at each time (according to Finnish legislation). At the time of signing this Agreement, the VAT for passenger transport is fourteen (14%) per cent. If the amount or assessment basis of official fees imposed by authorities changes as a result of amendments to legislation or changes in taxation, the prices of this Agreement will be changed accordingly. 7.2 Changes in fuel prices 7.2.1 The Operating Compensation includes fuel costs. Appendix 4 specifies which percentage of the operating costs consists of the fuel costs. If the fuel price rises or falls by more than ten (10 %) per cent during a reporting month compared to the costs laid down in Appendix 4, the Operating Compensation shall be adjusted in proportion to the share of fuel costs in the Operating Compensation. 7.2.2 If the fuel price rises by more than fifteen per cent (15 %) during the reporting period of the costs listed in Appendix 5, the Buyer has the right to renegotiate the flights for the remainder of the period and to proportion the number of flights to the available funds.
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Related to OPERATING COMPENSATION

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125 per hour.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Management Compensation As compensation for your services in the management of the offering, we will pay you an amount equal to the management fee specified in the Invitation in respect of the Securities to be purchased by us pursuant to the Purchase Agreement, and we authorize you to charge our account with such amount. If there is more than one Representative, such compensation shall be divided among the Representatives in such proportions as they may determine.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.