Compensation of Transition Partner Sample Clauses

Compensation of Transition Partner. A Transition Partner shall receive a distribution each year by applying the percentages in the table below to such partner's "Previous Annual Income." The term "Previous Annual Income" shall mean the dollar amount of the partner's average distribution received during the five years, not necessarily consecutive, out of the last ten years, in which such partner's compensation was the highest, and any other monies received by or credited to him or her in the form of taxable income reported to the Internal Revenue Service on Form K-1. PERCENTAGE Age at Payment Age at Retirement 60 61 62 63 64 65 61 61.5 62 41.0 64.2 63 20.5 42.8 66.9 64 20.5 21.4 44.6 69.6 65 20.5 21.4 22.3 46.4 72.3 66 20.5 21.4 22.3 23.2 48.2 75.0 67 20.5 21.4 22.3 23.2 24.1 50.0 68 20.5 21.4 22.3 23.2 24.1 25.0 69 20.5 21.4 22.3 23.2 24.1 25.0 70 20.5 21.4 22.3 23.2 24.1 25.0 [COMMENT: The above table is illustrative of a scaling down of payments to a retiring partner. Another, less complicated version might reduce the retiring partner's compensation in each year after retirement by an amount equal to 20 percent of his or her compensation in the preceding year.]
Sample 1
AutoNDA by SimpleDocs

Related to Compensation of Transition Partner

  • Compensation to Contractor The terms related to the price of the goods and/or services to be provided under this Agreement and the terms of payment to the Contractor are described in more detail in Attachment “B” to this Agreement: Price and Payment Information.

  • CONTRACTOR'S RESPONSIBILITY FOR EMPLOYEES The Contractor shall be responsible for the professional and technical competence of its employees and will select, for work under this Contract, reliable individuals who will perform effectively in the implementation of this Contract, respect the local customs, and conform to a high standard of moral and ethical conduct.

  • Compensation for Employees Employees shall receive compensation at the biweekly or hourly rate for the range and step or flat rate assigned to the class in which they are employed.

  • Compensation for Additional Services Additional Services shall be compensated as set forth on Exhibit A for the stipulated payment amounts set forth therein. Other Additional Services not set forth on Exhibit A that are required or requested by the Owner shall be compensated as agreed, using the methodology set forth on Exhibit A, prior to the Design Professional undertaking such Additional Services; provided, however, that if such compensation cannot be agreed, the Additional Services shall be performed at the hourly rates set forth and listed in Exhibit B, plus reimbursable expenses pursuant to Article 4.1.3 below, with a limitation as to maximum amount specified.

  • Additional Services Compensation Additional Services Compensation shall be the fees determined in accordance with Article 7 to be paid by the Owner to the Professional Consultant in connection with the performance of Additional Services.

  • Eligibility for Overtime Compensation (a) Overtime compensation rates for all hours worked in excess of the workday and workweek identified below shall be as follows:

  • SALARY DETERMINATION FOR EMPLOYEES IN ADULT EDUCATION PCA Article B.3 does not apply in School District No. 34 (Abbotsford).

  • Transition to Retirement 24.1 An Employee may advise their Employer in writing of their intention to retire within the next five years and participate in a retirement transition arrangement.

  • Financial Services Compensation Scheme We are a participant in the Financial Services Compensation Scheme (the “FSCS”). As a retail client you may be eligible to claim compensation from the FSCS in certain circumstances if we, any approved bank, our nominee company or eligible custodian are in default. Most types of investment business are covered in full for the first £85,000 of any eligible claim. Not every investor is eligible to claim under this scheme: for further information please contact us, or the FSCS directly at xxx.xxxx.xxx.xx.

  • RESPONSIBILITY FOR EMPLOYEES To the extent that the Contract involves the provision of the Services to UNDP by the Contractor’s officials, employees, agents, servants, subcontractors and other representatives (collectively, the Contractor’s “personnel”), the following provisions shall apply:

Time is Money Join Law Insider Premium to draft better contracts faster.