Basis of Remuneration. Contingent upon the completion of the Acquisition, Company will issue Consultant 6,000,000 ordinary shares of Company, US$0.001 par value per share (the "Shares"), which shares shall be issued pursuant to a registration statement on Form S-8 filed by Company with the Securities and Exchange Commission, provided that: (I) Consultant shall be solely responsible for all tax returns and payments required to be filed with or made to any federal, state or local tax authority with respect to Consultant's performance of the Services pursuant to this Agreement, (ii) Consultant agrees to accept exclusive liability for complying with all applicable federal, state and local laws governing self-employed individuals, including, without limitation, obligations such as the payment of taxes, social security, disability and other contributions based on the transactions contemplated by this Agreement, (iii) Consultant hereby agrees to indemnify, hold harmless and defend Company from and against any and all such taxes and contributions, as well as any penalties and interest arising therefrom, and (iv) All the reasonable and undisputed expenses incurred, such as transportation, mail, copy and fax charges, etc., shall be reimbursed to Consultant by Company within 30 days of receipt of the related invoices.
Basis of Remuneration. The Commission shall apply to all sales orders from customers solicited by Distributor. (Customers defined as an individual or a company who have bought the product/services from the Distributor for their own use.) No remuneration shall be paid on (i) orders solicited directly by Company within the Territory; (ii) orders received from outside the Territory unless otherwise agreed in writing by Company. (iii) No remuneration will be paid to the Distributor until 100% payment pertaining to the order is received. The company reserves the right to change the remuneration/prices on products as and when required.
Basis of Remuneration. 5.1 (a) A setting up fee of No Charge Payable three months after the start date of management
Basis of Remuneration. 5.1 The basis of remuneration for The Service is as specified in the Agreement.
Basis of Remuneration. No present or former officer or employee of any Group Company is entitled to any remuneration, loan, commission or other emoluments of whatever nature calculated by reference to the whole or part of the turnover, the profits or sales of any Group Company or which becomes payable in connection with the Transaction and no Group Company is party to or bound by or has proposed or required to introduce any share option, share, profit sharing, bonus or commission scheme (whether discretionary or otherwise) in respect of any of its officers or employees.
Basis of Remuneration. HOURLY EMPLOYEES Full-time and part-time employees whose remuneration is based on an hourly rate of pay shall be paid an hourly rate of pay for the hours worked in accordance with Schedule B – Salary Tables to this Agreement. SALARIED EMPLOYEES Full-time salaried employees who are remunerated based on an annual salary rather than an hourly rate of pay, shall be paid at a minimum the salaries as set out in Schedule B to this Agreement. Part-time salaried employees shall be remunerated based on a pro rata amount of the full-time equivalent remuneration based on part-time hours of work as a proportion of full-time hours of work, e.g. PT 15.2 hours - $60,000/38*15.2=$24,000 per annum. The annual salary is inclusive of: - reasonable additional hours of work except where specifically provided for in clause 14.7. The expectation is that employees will work minimal to no additional hours on a routine basis. In consultation with the Company, employees have the flexibility to manage their working hours in a way that helps them to balance their work and personal commitments and, in return, the Company to manage peaks and troughs in workload; - any shift penalties under clause 16; and - on-call allowances and payments detailed in clause 17.1.
Basis of Remuneration. The basis of Consultant’s remuneration for the Services shall be as follows:
Basis of Remuneration. Company will issue Consultant five hundred seventy five [575,000] free trading shares of the Company’s stock (the "Shares"), which shares shall be issued pursuant to a registration statement on Form S-8 filed by Company with the Securities and Exchange Commission, provided that: (I) Consultant shall be solely responsible for all tax returns and payments required to be filed with or made to any federal, state or local tax authority with respect to Consultant's performance of the Services pursuant to this Agreement, (ii) Consultant agrees to accept exclusive liability for complying with all applicable federal, state and local laws governing self-employed individuals, including, without limitation, obligations such as the payment of taxes, social security, disability and other contributions based on the transactions contemplated by this Agreement, (iii) Consultant hereby agrees to indemnify, hold harmless and defend Company from and against any and all such taxes and contributions, as well as any penalties and interest arising therefrom, and (iv) All the reasonable and undisputed expenses incurred, such as transportation, mail, copy and fax charges, etc., shall be reimbursed to Consultant by Company within 30 days of receipt of the related invoices.
Basis of Remuneration. Percentage of Realisations The JOLs’ Remuneration shall be paid from the assets of Company on the basis of a percentage of realisations as follows: Net amount realised on sale of assets after the deduction of costs of sale Remuneration Percentage Total amount recovered from Company’s debtors and contingent debtors Remuneration Percentage Maximum Allowable Percentage Rate US$0.01 - [net sale amount] [percentage rate] US$0.01 - [recovered amount] [percentage rate] [percentage rate] [further net sale amount] [percentage rate] [further recovered amount] [percentage rate] [percentage rate] [further net sale amount] [percentage rate] [further recovered amount] [percentage rate] [percentage rate] etc The Parties acknowledge that the agreed percentage rate(s) shall not exceed the maximum percentage rates prescribed in Part C of the Schedule to the Regulations (as set out above). Prior to receiving payment of the JOLs’ Remuneration from the assets of the Company the JOLs shall seek approval from the Grand Court in accordance with the procedure set out in Part III of the Regulations, provided always that in advance of obtaining the approval of the Liquidation Committee and the Grand Court the JOLs shall be entitled to receive a payment on account of up to 80% of the JOLs’ Remuneration in accordance with Regulation 10(2) of the Regulations.
Basis of Remuneration. Commission – in all instances except where ‘Fee in lieu of commission’ is selected in the table below, we receive a commission payment from your insurance company for arranging and ongoing management of your insurance policy. This amount is normally a percentage of the total annual premium you pay (excluding insurance premium tax (IPT)). Where a policy is arranged on a Fee in lieu of commission basis please read the remuneration description in the table below. Administration fee - when you take out a policy with us, if an administration fee has been applied by us, this will be disclosed in your documentation alongside details of the cost of the insurance. Other fees, including renewal and late payment fees, are stated in the ‘Fees and Charges’ section above. Bank account interest - we will receive additional income from interest earned on insurance monies passing through our bank account. In addition to the above, if remuneration is received on any other basis we have explained this in the table below for your information. Policy Fee in lieu of commission Profit share, profit/growth or over-rider Fee for services Work transfer Referral payments All None None None None None Remuneration Type Remuneration Description Fee in lieu of commission When you take out this policy with us we will charge you a fee for our service in place of the commission we would have received from the Insurer with whom the insurance is placed. Whenever this applies the fee charged will be agreed with you in advance and will be detailed in any quotation we provide to you. Profit share, profit/growth or over-rider Your insurer will provide us with additional income in respect of your insurance policy which is dependent upon the overall account of the business with which you are dealing or our overall Group account meeting certain criteria. This will normally be calculated as a small percentage of our whole account which, depending on the profitability of your insurance policy, can be calculated as a percentage of the total annual premium you pay (excluding Insurance Premium Tax (IPT)). Fee for services We receive a flat fee from your insurance company for services that we carry out on behalf of your Insurer in respect of the strategic management of their account with the business with which you are dealing or their whole account for all our Group companies. Work transfer Your insurer will provide us with additional income in respect of your insurance policy for additional work which ...
