APPLICABLE COMPENSATION Clause Samples
The "Applicable Compensation" clause defines the specific payments, benefits, or remuneration that are due to a party under the terms of an agreement. It typically outlines what types of compensation are included, such as salary, bonuses, commissions, or other financial incentives, and may specify the conditions or timeframes under which these payments are made. By clearly identifying what constitutes compensation, this clause ensures both parties have a mutual understanding of financial obligations, reducing the risk of disputes over payment entitlements.
APPLICABLE COMPENSATION. Elections to defer compensation shall be made with respect to compensation not yet earned. In the case of bonuses or other nonperiodic payments, such compensation shall be treated as earned no earlier than the day on which the amount payable has been determined. In the case of periodic payments such as salary, such compensation shall be treated as earned no earlier than the day prior to the day on which the service period giving rise to the salary has commenced. In the case of Dividend Equivalents (awarded pursuant to The MIIX Group, Incorporated Long Term Incentive Equity Plan) converted into cash, such compensation shall be treated as earned no earlier than the day prior to the day on which such Dividend Equivalents are credited to the account maintained on behalf of the Participant under Sections 6.4 and 9.3 of the Equity Plan.
APPLICABLE COMPENSATION. Elections to defer compensation shall be made with respect to compensation not yet earned. In the case of bonuses or other nonperiodic payments, such compensation shall be treated as earned no earlier than the day on which the amount payable has been determined. In the case of periodic payments such as salary, such compensation shall be treated as earned no earlier than the day prior to the day on which the service period giving rise to the salary has commenced.
APPLICABLE COMPENSATION. The following compensation (the “Applicable Compensation”) will be paid by the Company upon the issuance and sale to an Approved Investor or Approved Investors of shares of capital stock of the Company, including shares of Series D Stock, as a result of an introduction by the Agent:
(i) the Company will deliver to the Agent common stock of the Company, par value $.001 per share (“Common Stock”), equal to 3.0% of the amount of such capital stock purchased by Existing Approved Investors, plus one or more warrants (“Warrants”) to purchase in the aggregate up to an additional 1.0% of the aggregate amount of Common Stock purchased by the Existing Approved Investors; provided that such Existing Approved Investors individually or in the aggregate purchase at least $500,000 of such capital stock; and
(ii) the Company will deliver to the Agent Common Stock equal to 5.0% of the amount of such capital stock purchased by New Approved Investors, plus one or more Warrants to purchase in the aggregate up to an additional 1.5% of the aggregate amount of Common Stock purchased by the New Approved Investors; provided that such New Approved Investors individually or in the aggregate purchase at least $500,000 of such capital stock. With the consent of the Company, the Agent may allocate a portion of its compensation to a third party or parties by so notifying the Company at the time of the sale and issuance of capital stock to the Approved Investors; provided, however, that the Agent may not do so unless payments by the Company to such third party would not violate any applicable law, rule, regulation or administrative requirement.