Transition Services Compensation Sample Clauses
Transition Services Compensation. A. For all transition costs associated with this Exhibit C - Transition Services and this Agreement the parties agree to the payment of fees and expenses as described in Exhibit B.
Transition Services Compensation. Following the Termination Date, and as consideration for your provision of the Transition Services, the Company shall pay you at the rate of $2,000 per week, payable monthly in arrears in accordance with the Company’s normal practices.
Transition Services Compensation. During the Transition Period, M▇▇▇▇▇▇▇ shall (i) continue to receive the salary in effect as of the Effective Date, and (ii) be eligible for bonus compensation under the WDC Incentive Compensation Plan (the “ICP”) as set forth in Section III(B) below.
Transition Services Compensation. In respect of Contractor’s obligation to provide Transition Services as described in Section 24.4(i) of the Service Agreement, Contractor shall be compensated for the performance of the Transition Services on a time and materials basis as described herein:
(i) Contractor shall on a monthly basis, invoice Customer:
(A) its time, in accordance with its published standard labor rates, which shall, for the purposes hereof, be offered to the Customer at commercially reasonable rates premised on a base rate of $150 US Dollars per hour; and
(B) materials, at Contractor’s cost, without administrative or other markups;
(ii) each invoice shall:
(A) identify the applicable Transition Services and materials to which the invoice relates;
(B) provide summary details of the time spent on the applicable Transition Services;
(C) provide summary details of the fees payable for each such Transition Service; and
(D) specify the total amount payable and all applicable taxes;
(iii) in the case of a Contractor Termination Event, Contractor’s labor rates will be subject to a discount of thirty percent (30%);
(iv) in the case of a Contractor Non-Renewal, Contractor’s labor rates will be subject to a discount of fifteen percent (15%);
(v) Contractor shall provide Customer with reasonable estimates of time and materials charges prior to providing Transition Services to Customer;
(vi) within thirty (30) Business Days of receiving the invoice from Contractor, Customer shall, except in the event of a dispute as contemplated in Section 2.1(vii), pay to Contractor the amount of the applicable invoice;
(vii) in the event that Customer disputes the amount of any invoice or portion thereof, the dispute shall be resolved as follows:
(A) within thirty (30) Business Days of receiving the invoice, Customer shall pay the undisputed portion of such invoice and shall send to Contractor along with such payment a written notice of the dispute in detail and with supporting documentary evidence sufficient to provide Contractor with the nature and amount of any such dispute;
(B) within ten (10) Business Days of Contractor’s receipt of such notice, and for a period of fifteen (15) Business Days, Contractor shall make available to Customer or its designee, during normal business hours at a location designated by Contractor, all documentation in the possession of Contractor or a Contractor Affiliate reasonably necessary to enable Customer to review the invoice, the data on which it was based and the metho...
Transition Services Compensation. You are entitled to the transition services compensation provided for in this Section 3 (the “Transition Services Compensation”). It is intended and understood that the services You perform during the Transition Period shall be more than 20 percent of the average level of services performed by you over the immediately preceding 36 months while You were employed as Chairman and CEO. Payment of the Transition Services Compensation provided for in this Section 3 is contingent, along with Your agreement to abide by the Covenants and Representations contained in Section 4, on Your full Cooperation with the transition of CEO duties and responsibilities to ▇▇. ▇▇▇▇▇▇▇ during the Transition Period. If, in the judgment of the Board, You do not provide Your full Cooperation in connection with transition of CEO duties and responsibilities to ▇▇. ▇▇▇▇▇▇▇ and on written notice from the Board (which notice shall include a description of the reasons and circumstances giving rise to such notice) You do not within 30 days remedy, in a method and to the extent satisfactory to the Board, the situation identified by the Board in its written notice, the portion of the Transition Services Compensation that relates to Your full Cooperation with the transition of CEO duties and responsibilities to ▇▇. ▇▇▇▇▇▇▇ during the Transition Period shall be forfeited.
Transition Services Compensation. In consideration for the Transition Services and your execution of, and compliance with, this Agreement, during the Transition Period, you shall continue to be (a) paid your base salary at the rate in effect on the Transition Date, (b) eligible to vest in the outstanding equity awards granted to you by the Company that you hold on the Transition Date and (c) eligible to participate in the broad-based medical, dental, vision, life and disability benefits that you elected as of the Transition Date. You will receive a letter under separate cover about your ability to elect continued health coverage under COBRA. You will also receive information regarding your ability to convert your life and disability coverage in a separate document.