Compensation; Accounting Clause Samples
Compensation; Accounting. 4.1 As compensation for the designs and services rendered hereunder, the Company shall pay minimum compensation to the Design Partnership each year during the term of this Agreement. The minimum compensation to the Design Partnership in connection with the manufacture and sale and importation and sale of Licensed Products for each year shall be as follows: Year 1 (1997) $0 Year 2 $0 Year 3 $0 Year 4 $5,600,000 Year 5 $5,600,000 Minimum compensation for each year shall be paid on a quarterly basis, beginning with the minimum compensation payment to be made for the first calendar quarter of 2000, in the manner set forth in paragraph 6.2 below. No credit shall be permitted against minimum compensation payable in any year on account of actual or minimum compensation paid in any other year, and minimum compensation shall not be returnable. Minimum Compensation for each year of the "Renewal Term" (as defined in paragraph 8 of the Licensee Agreement) shall be an amount equal to ninety percent (90%) of the actual earned compensation due to the Design Partnership for sales of Licensed Products in 2001. For the purposes of this Agreement, the term "year" shall mean a period of twelve (12) months commencing on each January 1 during the term of this Agreement; provided, however, that the "first year", or "Year 1" shall mean the period commencing on the date hereof and expiring on December 31, 1997 (although minimum compensation shall not be due until calendar year 2000).
4.2 The Company shall pay to the Design Partnership earned compensation based on the net sales price of Licensed Products manufactured or imported and sold by the Company hereunder. Earned compensation shall equal [Omitted; Material Filed Separately With The Securities And Exchange Commission] of the net sales price of all Licensed Products sold under this Agreement, including, without limitation, sales made pursuant to paragraph 6.3 hereof; provided, however,[Omitted; Material Filed Separately With The Securities And Exchange Commission]. The Company shall prepare or cause to be prepared statements of operations for the first month in which Licensed Products are offered for sale to the trade, and for each month thereafter for so long as the Company is offering Licensed Products for sale hereunder, which statements shall be furnished to the Design Partnership together with the earned compensation due for each such month on the last day of the following month. The statement and compensation payment pro...
Compensation; Accounting. (a) As compensation for the designs and services rendered hereunder, the Company shall pay minimum compensation to the Design Partnership each year during the term of this Agreement.
Compensation; Accounting. Provide a control environment which enables reporting of financial information to internal management, help measure performance and support business decision making for the Services Recipient; • Review the compensation balances financial statements for purposes of meeting external reporting requirements; • Undertake an analytical review of transactions included within the ledger and substantiate these by liaising with departments and internal management including, but not limited to, the Business, Payroll, HR, Tax, Legal, Entity Controllers, Broker Compensation and Partnership; • Reconciliation of compensation values processed through payroll; • Collation of supporting documentation including contracts and approvals are available; • Analytical review of transactions and reporting to senior management; • Implement accounting policies and procedures for company schemes.
Compensation; Accounting. 6.1 In consideration of the license granted under this Article Licensee shall pay to Polaroid for each Licensed Product sold or otherwise disposed of for consideration on or after November 1, 1997 a royalty rate of $.30 or five percent (5%) of the net selling price of the Licensed Product whichever is greater. In consideration of the royalty specified in this Article, Polaroid agrees not to assert any of the Licensed Patents against Licensee for any Licensed Product which Licensee sold or otherwise disposed of for consideration prior to November 1,1997.
6.2 For the purposes of this Agreement the term net selling price is to mean the invoice amount billed to Licensee's customers less discounts and allowances actually allowed customers and shown on the invoice or any other writing forwarded to Licensee's customers and net of all returns actually made or allowed as supported by credit memos issued to customers. For the purpose of this Agreement, the Licensed Product shall be considered to be sold when billed out and collected; or otherwise disposed of, when leased, loaned, bartered or exchanged for goods or services or otherwise transferred for consideration to a third party.
(a) Licensee shall provide to Polaroid on or before the 20th of each month a written report specifying the number and net selling price of the Licensed Product sold or disposed of by Licensee during ft prior month. The written report due in the month of December shall be submitted on or before the 10th of said month.
(b) Licensee further agrees to provide Polaroid with a similar written report within thirty (30) days following the expiration or termination of this Agreement, covering all Licensed Product made and placed in inventory, sold or otherwise disposed of by Licensee prior to such expiration or termination date, but which were not previously reported to Polaroid. Concurrently with the making of such report, Licensee shall pay to Polaroid the amount of royalties due on such Licensed Product identified in such report which was sold or otherwise disposed of by Licensee prior to such expiration or termination date. For such Licensed Product made and placed in inventory but not sold or otherwise disposed of prior to such expiration or termination date, Licensee "I have a period of twelve (12) months to sell or otherwise dispose of such Licensed Product and pay to Polaroid the amount of royalties due and during said twelve (12) month period Licensee shall make the reports specified in ...
Compensation; Accounting. 4.1 Commencing with the First Renewal Term (as defined in Schedule C to the License Agreement), if the term hereof is extended beyond the Initial Term (as defined in paragraph 8 of the License Agreement), Company shall pay to the Design Partnership minimum compensation for each year during the term of this Agreement. The minimum compensation for each year commencing with the First Renewal Term shall be an amount equal to [Omitted; Material Filed Separately With The Securities And Exchange Commission]% of the actual earned compensation due for the immediately preceding year; provided, however, that the minimum compensation obligation for each year of the First Renewal Term shall in no event be less than [Omitted; Material Filed Separately With The Securities And Exchange Commission]; for each year of the Second Renewal Term no less than [Omitted; Material Filed Separately With The Securities And Exchange Commission]; for each year of the Third Renewal Term no less than [Omitted; Material Filed Separately With The Securities And Exchange Commission]; for each year of the Fourth Renewal Term no less than [Omitted; Material Filed Separately With The Securities And Exchange Commission]; for each year of the Fifth Renewal Term no less than [Omitted; Material Filed Separately With The Securities And Exchange Commission]; and for each year of the Sixth Renewal Term no less than [Omitted; Material Filed Separately With The Securities And Exchange Commission](each such term as defined in Schedule C to the License Agreement). Minimum compensation for each year shall be paid on a quarterly basis within thirty (30) days after the end of each quarter during the term hereof, commencing with the-first quarter of the First Renewal Term. No credit shall be permitted against minimum compensation payable for any year on account of actual or mini compensation paid for any other year, and minimum compensation shall not be returnable. For the purposes of this Agreement, the term "Year" shall mean a period of twelve (12) months commencing on each January 1 during the term of this Agreement; provided, however, that the term "first year" shall mean the 17-month period commencing on August 1, 1995 and ending on December 31, 1996.
4.2 The company shall pay to the Design Partnership earned compensation based on the Net Sales Price of Licensed Products manufactured or imported and sold by the Company hereunder. Earned compensation shall equal [Omitted; Material Filed Separately With Th...
Compensation; Accounting