Branch Compensation Sample Clauses

Branch Compensation. The Main Branch Account will be credited for all revenues received and this credit shall be based on a per file funder basis (“the commission”). EMPLOYEE shall be paid consistent compensation on a monthly basis (“compensation”) according to the attached Addendum A. The EMPLOYEE is to select and input a basis point amount into the AFN pricing engine to determine his/her Branch Margins for all of his/her managed branch(es). Such production based compensation is subject to all applicable rules regarding market area and region uniformity. Such production based compensation is subject to change only every calendar quarter with the approval of an officer of AFN. EMPLOYEE is aware and agrees to comply with all applicable restrictions imposed by Regulation Z, the Xxxx-Xxxxx Act, Anti- Steering Provisions, and other applicable rules. EMPLOYEE is to communicate and negotiate all loan terms with consumer(s) through a licensed Loan Officer employed at his/her Branch, whether a producing or non-producing Branch Manager. EMPLOYEE in no way is to influence the terms of a particular loan or manipulate the closing time-frame of any/several loans in order to potentially receive lower/higher production compensation. If a non-producing Branch Manager, EMPLOYEE will not engage in any loan origination activities nor expect payment for such activities. EMPLOYEE is aware that any potential liability arising from a Branch Manager’s willful intent to purposely vary the terms of a transaction(s) in order to affect his/her branch compensation will be held solely by such Branch Manager. EMPLOYEE agrees to indemnify AFN for such acts. EMPLOYEE waives his/her right to contest the enforceability of the former clause to each subsequent Addendum to this Agreement. All loans except “brokered loans”, not covered by the new compensation rule(s) (“other types of loans”) shall receive established Lender-Paid compensation set by AFN or any Broker cooperative, including all points and fee income. These other types of loans include, but are not limited to: (i) HELOC or open ended lines of credit; (ii) commercial loans; (iii) any other type of loan that is not subject to the new Consumer Financial Protection Bureau regulations. A “Brokered Loan” is a loan that is originated by an AFN Branch loan officer and that is underwritten and/or funded by a third party lender. EMPLOYEE is aware that AFN requires preapproval by its President, Chief Executive Officer, Vice President of Operations, or Product Ma...
Sample 1
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Branch Compensation. The Main Branch Account will be credited for all revenues received and this credit shall be based on a per file funder basis ("the commission"). EMPLOYEE shall be paid consistent compensation on a monthly basis ("compensation") according to the attached Addendum A. The EMPLOYEE is to select and input a basis point amount into the AFN pricing engine to determine his or her Branch Margins for all of his or her managed Branch(es). Such production based compensation is subject to all applicable rules regarding market area and region uniformity. Such production based compensation is subject to change only every calendar quarter with the approval of an officer of AFN. EMPLOYEE is aware and agrees to comply with all applicable restrictions imposed by Regulation Z, the Xxxx-Xxxxx Act, Anti- Steering Provisions, and other applicable rules. EMPLOYEE is to communicate and negotiate all loan terms with consumer(s) through a licensed Loan Officer employed at his or her Branch, whether a producing or non-producing Branch Manager.
Sample 1
Branch Compensation. The Main Branch Account will be credited for all revenues received and this credit shall be based on a per file funder basis ("the commission"). EMPLOYEE shall be paid consistent compensation on a monthly basis ("compensation") according to the attached Addendum A. The EMPLOYEE is to select and input a basis point amount into the STATEWIDE pricing engine to determine his/her Branch Margins for all of his/her managed branch(es). Such production-based compensation is subject to all applicable rules regarding market area and region uniformity. Such production-based compensation is subject to change only every calendar quarter with the approval of an officer of STATEWIDE. EMPLOYEE is aware and agrees to comply with all applicable restrictions imposed by Regulation Z, the Xxxx-Xxxxx Act, Anti-Steering Provisions, and other applicable rules.
Sample 1

Related to Branch 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 $125.00 per hour.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

  • Severance Compensation In the event (i) Employee terminates this Agreement for Good Reason in accordance with Paragraph 11.3 hereof; (ii) Employee is terminated for any reason (except death or disability) upon, or within six months following, a "Change in Management or Control (as such term is defined in Paragraph 11.5 hereof);" or (iii) Employee is terminated without Cause, the Company shall be obligated to pay severance compensation to Employee in an amount equal to his salary compensation (at the rate payable at the time of such termination) for a period of six (6) months from the date of termination. Notwithstanding the foregoing, if Employee is employed by a new employer, or as a consultant after the termination of this Agreement, the severance compensation payable to Employee hereunder shall be reduced by the amount of compensation that Employee actually receives from the new employer, or as a consultant. However, Employee shall have a duty to inform the Company that he has obtained such new employment, and the failure to do so is a material breach of this Agreement. In such event, the Company shall be entitled to (i) cease all payments to Employee under this Paragraph 11.4; and (ii) recover any unauthorized payments to Employee in an action for breach of contract. Notwithstanding anything else in this Agreement to the contrary, solely in the event of a termination upon or following a Change in Management or Control, the amount of severance compensation paid to Employee hereunder shall not include any amount that the Company is prohibited from deducting for federal income tax purposes by virtue of Section 280G of the Internal Revenue Code of 1986, as amended, or any successor provision. In addition to the foregoing severance compensation, the Company shall pay Employee (i) all compensation for services rendered hereunder and not previously paid; (ii) accrued vacation pay; and (iii) any appropriate business expenses incurred by Employee in connection with his duties hereunder and approved pursuant to Section 4 hereof, all through the date of termination. Employee shall not be entitled to any bonus compensation, whether vested or unvested; or any other compensation, benefits or reimbursement of any kind.

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

  • Fees and Compensation Managers and Officers may receive such compensation and fees, if any, for their services, and such reimbursement for expenses, as may be determined by resolution of the Board.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Cash Compensation The Company shall pay to the Executive compensation for his services during the Contract Period as follows:

  • Full Compensation Subrecipient agrees to accept the specified compensation as set forth in this Contract as full remuneration for performing all services and furnishing all staffing and materials required, for any reasonably unforeseen difficulties which may arise or be encountered in the execution of the services until acceptance, for risks connected with the services, and for performance by the Subrecipient of all its duties and obligations hereunder.

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