Compensation Funding Sample Clauses

The 'Compensation; Funding' clause defines how and when payments will be made to a party under the agreement, as well as the sources or mechanisms for providing those funds. Typically, this clause outlines the schedule of payments, the amounts due, and any conditions that must be met for compensation to be released, such as completion of certain milestones or submission of invoices. It may also specify whether funds are provided upfront, reimbursed, or held in escrow. The core function of this clause is to ensure both parties have a clear understanding of financial obligations and the process for disbursing funds, thereby reducing the risk of payment disputes and ensuring smooth financial operations throughout the contract.
Compensation Funding. 33. The PROVIDER understands that, in accordance with section 1002.71(5)(b), Florida Statutes, the PROVIDER shall receive a prepayment each month based on the PROVIDER’s child enrollment in the VPK program. The PROVIDER understands that prepayments shall be reconciled and adjusted based on actual child attendance in the program in accordance with the Agency for Workforce Innovation’s uniform attendance policy.* The PROVIDER further understands that, if the PROVIDER and the COALITION mutually agree in writing, instead of receiving prepayments, the PROVIDER shall receive a payment each month based on reimbursement for actual child attendance in the program. 34. The PROVIDER shall return to the COALITION any overpayment due to unearned funds or as result of error or funds disallowed under this Agreement. If the PROVIDER discovers an overpayment, the PROVIDER shall repay the overpayment within the timeframe specified by the COALITION without prior notification from the COALITION. If the COALITION discovers an overpayment, the COALITION shall notify the PROVIDER of the overpayment by mail. If repayment is not made by the date specified by the COALITION, the COALITION is entitled to withhold funds from the next month’s payment. See Attachment A. 35. The PROVIDER agrees that, if the end-of-year reconciliation results in a deficiency, the COALITION may withhold funds from any payments, including school readiness, owed to the PROVIDER to cover the deficiency. If the PROVIDER ceases to deliver the VPK program, the PROVIDER agrees to return the deficient funds. If the PROVIDER fails to return the deficient funds, the PROVIDER is subject to collection efforts. 36. The PROVIDER understands that, in accordance with section 1002.71, Florida Statutes, payments for a child shall not exceed funding for one full-time equivalent (FTE) child. The PROVIDER further understands that, in accordance with 37. The PROVIDER agrees to follow all payment procedures adopted by the COALITION and the Agency for Workforce Innovation. 38. If the PROVIDER is a Head Start Agency, the PROVIDER understands that, in accordance with federal law, the PROVIDER’s Head Start programs must be “in addition to, and not in substitution for, comparable services previously provided without Federal assistance” (Title 42, United States Code, section 9835(c)). 39. If the PROVIDER receives federal funds under ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code, sections 6311-6322 (Title I), the PROVIDER understands that, in accordanc...
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Compensation Funding. Consistent with state law, any payments by the University to ▇▇. ▇▇▇ under this Agreement that cannot be paid from public funds, shall be paid with non-public Foundation funds.
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Compensation Funding 
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Related to Compensation Funding

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • Compensation Table Attachment C of each Approved Service Order is a compensation table setting forth the manner in which the City will pay the Maximum Service Order Compensation (“Compensation Table”). Each Compensation Table is subject to the terms and conditions set forth below in Subsections 10.4 through 10.7.

  • Compensation Benefits and Reimbursement (a) The compensation specified under this Agreement shall constitute the salary and benefits paid for the duties described in Section 2. The Bank shall pay Executive as compensation a salary of not less than [$ ] per year (“Base Salary”). Such Base Salary shall be payable biweekly, or with such other frequency as officers and employees are generally paid. During the period of this Agreement, Executive’s Base Salary shall be reviewed at least annually. Such review shall be conducted by a committee designated by the Board, and the Bank may increase, but not decrease (except a decrease that is generally applicable to all employees) Executive’s Base Salary (with any increase in Base Salary to become “Base Salary” for purposes of this Agreement). Base Salary shall not include any director’s fees that the Executive is entitled to receive as a director of the Bank or any affiliate of the Bank. Such director’s fees shall be separately paid to the Executive. (b) Executive will be entitled to participate in and receive benefits under any employee benefit plans including, but not limited to, retirement plans, supplemental retirement plans, pension plans, profit-sharing plans, health-and-accident insurance plans, medical coverage or any other employee benefit plan or arrangement made available by the Bank currently or in the future to its senior executives and key management employees. Executive will be entitled to participate in any incentive compensation and bonus plans offered by the Bank in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement. (c) In addition to the Base Salary provided for by paragraph (a) of this Section 3, the Bank shall pay or reimburse Executive for all reasonable travel and other reasonable expenses incurred by Executive performing his obligations under this Agreement and may provide such additional compensation in such form and such amounts as the Board may from time to time determine. The Bank shall reimburse Executive for his ordinary and necessary business expenses including, without limitation, fees for memberships in such clubs and organizations as Executive and the Board shall mutually agree are necessary and appropriate for business purposes, and travel and entertainment expenses, incurred in connection with the performance of his duties under this Agreement.

  • Trustee Compensation The Trustees as such shall be entitled to reasonable compensation from the Trust. They may fix the amount of their compensation. Nothing herein shall in any way prevent the employment of any Trustee for advisory, management, administrative, legal, accounting, investment banking, underwriting, brokerage, or investment dealer or other services and the payment for the same by the Trust.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.