Compensation Plan Terms Sample Clauses

Compensation Plan Terms. 7.1 The maximum amount payable for all products and services provided under this Agreement shall not exceed $ $3,980,684 for the five-year term. Included in the total is $80,000 of contingency fees which are not guaranteed to the vendor. At County’s option, the contingency fees may be used to purchase additional goods and services listed in Exhibit B and Appendix B-1. Additional purchases shall be made via a Contract Release Purchase Order to the Contractor. Any additional goods and services requested by the County that is not included in the Agreement shall be added via an Amendment to the Agreement with goods, services and pricing negotiated and agreed upon by both parties. 7.2 Progress payments shall be made to Contractor by County based on net forty-five (45) days payment terms, following receipt of invoices that may be issued after acceptance of designated milestones as shown below in Compensation Plan Table. All payments are based upon County’s acceptance of Contractor’s performance as evidenced by successful completion of all of the deliverables as set forth for each milestone. County shall have no obligation to pay unless Contractor has successfully completed and County has approved the Milestone for which payment is due. 7.3 Payment for any part or parts of the System provided hereunder, or inspection or testing thereof by County, shall not constitute acceptance or relieve Contractor of its obligations under this Agreement. County may inspect the components of the System when delivered and reject upon notification to Contractor any and all the System, which does not conform to the Specifications or other requirements of this Agreement. Components of the System, which are rejected shall be promptly corrected, repaired or replaced by Contractor. If County receives components of the System with defects or nonconformities not reasonably apparent on inspection, then County reserves the right to require prompt correction, repair or replacement by Contractor in accordance with Contractor’s warranty obligations. 7.4 Work shall commence immediately upon execution of the Agreement.
Sample 1
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Related to Compensation Plan Terms

  • Compensation Plans Following any termination of the Executive's employment, the Company shall pay the Executive all unpaid amounts, if any, to which the Executive is entitled as of the Date of Termination under any compensation plan or program of the Company, at the time such payments are due.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • Compensation Plan 1. Subject to any applicable regulation and the Company's/its contractor approval, the applicant shall choose a Compensation Plan on the Affiliate Participation Form. An Affiliate may not change the elected Compensation Plan. 2. The Company/its contractor may change an Affiliate's Compensation Plan, at any time and at its sole and absolute discretion, by sending such Affiliate a notice to such effect by e-mail. In the event Affiliate does not agree to such change, it shall notify the Company by return e-mail within three (3) days of receiving such notice from the Company, and the Agreement shall terminate immediately. In the event Affiliate does not notify the Company within three (3) days from the notice, it shall be deemed as an approval by the Affiliate to such change in the Compensation Plan. It is hereby clarified that Affiliate will continue to receive payment with respect to Traders identified by a Tracker ID prior to the date of any such change in the Compensation Plan, in accordance with the applicable Compensation Plan at the date such Traders registered to the Site(s).

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • VACATION PLAN 2 All employees in the bargaining unit shall earn paid vacation time 3 under this Article. Vacation benefits are earned on a fiscal year 4 basis--July 1 to June 30. 5 8.1 Unit members are entitled to vacation with pay at the rates 6 to be found in the following schedule: 7 8.1.1 . 83 of a day for each month worked during the first 8 three (3) years.

  • Deferral Plan The deferral portion of the plan shall involve an employee spreading four (4) years' salary over a five (5) year period, or such other schedule as may be mutually agreed between the employee and the Hospital. In the case of the four (4) years' salary over a five (5) year schedule, during the four (4) years of salary deferral, 20% of the employee's gross annual earnings will be deducted and held for the employee. Such deferred salary will not be accessible to the employee until the year of the leave or upon the collapse of the plan. In the case of another mutually agreed upon deferral schedule, the percentage of salary deferred shall be adjusted appropriately.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • Reporting Subawards and Executive Compensation a. Reporting of first-tier subawards.

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