Compensation; Independent Contractor Status Sample Clauses

Compensation; Independent Contractor Status. (a) The Company shall pay the Chairman a Chairman's fee of $25,000 per fiscal quarter of the Company (pro-rated for partial quarters), payable after the end of each quarter. If the Chairman does not desire to receive his Chairman's fee in the form of cash, he may elect from time to time to receive it in other forms under the various plans available to the Company's outside directors. The Chairman shall not receive the normal Board retainer or any meeting fees, but shall continue to receive all other benefits received by the Company's outside directors, including but not limited to (i) life insurance, and (ii) benefits provided under the Company's Directors Retirement Plan. The Chairman shall also be fully reimbursed for all of his Company-related expenses. (b) For fiscal 1999 only, in order to further incentivize the Chairman along lines that benefit shareholders, the Chairman will also be paid a bonus, which will only be paid to the extent the Company's present business (without acquisitions) exceeds the budgeted EBT of $6,134,000. A 10% increase in EBT (to $6,747,400) renders a bonus of $30,000, and a 20% increase in EBT (to $7,360,800) renders a bonus of $100,000. Intervening percentage increases are pro-rated. The bonus will be paid at the end of the year at the same time executive bonuses are paid, and will be paid in the form of stock or options under the Directors Fee Replacement Plan. (c) The parties agree that the Chairman shall occupy the status of an independent contractor, and thus shall be responsible for all tax payments as to his compensation hereunder. Inasmuch as the Chairman is not an employee of the Company, the Company shall not withhold any income or employment taxes from his compensation.
Sample 1
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Compensation; Independent Contractor Status. (a) In consideration of the Vice Chairman's services as Vice Chairman, the Company has granted the Vice Chairman a 75,000 share option under the 1996 Officers Stock Option Plan. The Company shall pay him no other separate compensation as Vice Chairman, but will pay him the normal Board retainer and meeting fees, after the end of each quarter. If the Vice Chairman does not desire to receive his retainer and/or meeting fees in the form of cash, he may elect from time to time to receive them in other forms under the various plans available to the Company's outside directors. The Vice Chairman shall continue to receive all other benefits as may be received by the Company's outside directors, including but not limited to (i) life insurance, and (ii) benefits provided under the Company's Directors Retirement Plan, as amended, until such time as such benefits and/or plans are terminated. The Vice Chairman shall also be fully reimbursed for all of his Company-related expenses in accordance with Company policy. (b) The parties agree that the Vice Chairman shall occupy the status of an independent contractor, and thus shall be responsible for all tax payments as to his compensation hereunder. Inasmuch as the Vice Chairman is not an employee of the Company, the Company shall not withhold any income or employment taxes from his compensation.
Sample 1
Compensation; Independent Contractor Status. 2.01 Loads moved using Company 1's Brokerage Authority. (a) As compensation for Agent's service under this Agreement, Agent will receive commission payments on a weekly basis for each load: (i) obtained and booked by Agent, (ii) successfully moved using Company 1's brokerage authority by a Carrier under contract with Agent, and (iii) billed to customer by Company 1. Agent's commission will be a percentage of the total "Gross margin" created by such load as set forth on [ADDENDUM A] hereto. Calculation of "Gross Margin" shall mean all revenue generated by the properly completed shipment minus all costs and amounts paid to the carrier, regardless of type.
Sample 1

Related to Compensation; Independent Contractor Status

  • Independent Contractor Status The Sub-Adviser shall for all purposes hereof be deemed to be an independent contractor and shall, unless otherwise provided or authorized, have no authority to act for or represent the Trust or the Adviser in any way or otherwise be deemed an agent of the Fund or the Adviser.

  • INDEPENDENT CONTRACTOR; NO AGENCY Nothing in this Agreement will in any way be construed to render Influencer to be or to be construed as an agent, employee or representative of Brand. Influencer is and will perform the Services hereunder as an independent contractor. Influencer acknowledges and agrees that Influencer will not be eligible for any employee benefits (nor do they desire any of them) and expressly waives any entitlement to such benefits. Influencer further agrees to indemnify Brand and hold it harmless to the extent of any obligation imposed on Brand resulting from Influencer’s being determined not to be an independent contractor.

  • Status as Independent Contractor The Advisor shall perform its services as an independent contractor and not as an employee of the Company or affiliate thereof. It is expressly understood and agreed to by the parties that the Advisor shall have no authority to act for, represent or bind the Company or any affiliate thereof in any manner, except as may be expressly agreed to by the Company in writing. In rendering such services, the Advisor will be acting solely pursuant to a contractual relationship on an arm’s-length basis. This Agreement is not intended to create a fiduciary relationship between the parties and neither the Advisor nor any of the Advisor’s officers, directors or personnel will owe any fiduciary duty to the Company or any other person in connection with any of the matters contemplated by this Agreement.

  • Independent Contractor Relationship Both parties hereto, in the performance of this Contract, shall act in an individual capacity and not as agents, employees, partners, joint ventures or associates of one another. The employees or agents of one party shall not be deemed or construed to be the employees or agents of the other party for any purposes whatsoever.

  • Employees and Independent Contractors Party agrees that it shall comply with the laws of the State of Vermont with respect to the appropriate classification of its workers and service providers as “employees” and “independent contractors” for all purposes, to include for purposes related to unemployment compensation insurance and workers compensation coverage, and proper payment and reporting of wages. Party agrees to ensure that all of its subcontractors or sub-grantees also remain in legal compliance as to the appropriate classification of “workers” and “independent contractors” relating to unemployment compensation insurance and workers compensation coverage, and proper payment and reporting of wages. Party will on request provide to the Agency of Human Services information pertaining to the classification of its employees to include the basis for the classification. Failure to comply with these obligations may result in termination of this Agreement.

  • Independent Contractor; Authority Notwithstanding the Services provided by the Administrator pursuant to this Agreement, the Administrator shall be deemed to be an independent contractor with respect to the Services. The management, policies and operations of the Parties (including the ultimate approval of the making or disposition of the Painting by the Issuer or Masterworks Cayman, and the terms and conditions thereof) shall be the responsibility of the Parties other than the Administrator.

  • Independent Contractor; Workers’ Compensation Insurance The Contractor is performing as an independent entity under this Contract. No part of this Contract shall be construed to represent the creation of an employment, agency, partnership or joint venture agreement between the parties. Neither party will assume liability for any injury (including death) to any persons, or damage to any property, arising out of the acts or omissions of the agents, employees or subcontractors of the other party. The Contractor shall provide all necessary unemployment and workers’ compensation insurance for the Contractor’s employees, and shall provide the State with a Certificate of Insurance evidencing such coverage prior to starting work under this Contract.

  • Capacity/Independent Contractor In providing the Services under this Agreement it is expressly agreed that the Contractor is acting as an independent contractor and not as an employee. The Contractor and the Client acknowledge that this Agreement does not create a partnership or joint venture between them, and is exclusively a contract for service.

  • Contractor Status The Contractor, under the code of the Internal Revenue Service (IRS), is an independent contractor, and neither the Contractor's employees nor contract personnel are, or shall be deemed, the Client's employees.

  • Independent Contractor The Contractor and its employees, agents, representatives, and subcontractors are independent contractors and not employees or agents of the State of Florida and are not entitled to State of Florida benefits. The Department and Customer will not be bound by any acts or conduct of the Contractor or its employees, agents, representatives, or subcontractors. The Contractor agrees to include this provision in all its subcontracts under the Contract.

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