Compensation Reduction Agreements Sample Clauses

Compensation Reduction Agreements. You will obtain compensation reduction agreements, as applicable, from Covered Employees and Account Owners.
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Compensation Reduction Agreements. The amount of a Voluntary Deferral made under the Plan shall be in accordance with a written Compensation Reduction Agreement provided by the Deferred Compensation Committee for that purpose. The amount of a salary deferral election shall be made no later than December 1 preceding the Plan Year for which the deferral is made. The amount of an annual bonus deferral election shall be made no later than September 1 of the Fiscal Year to which such annual bonus relates. Other Compensation deferral elections shall be made prior to the time such amounts have been earned. Notwithstanding the foregoing, (i) an Employee who first becomes a Participant during any Plan Year may make salary deferral elections for such Plan Year within 30 days of becoming a Participant if permitted by the Deferred Compensation Committee member(s) representing such Participating Employer, and (ii) a Participant wishing to defer a guaranteed signing bonus must make a deferral election in respect of such guaranteed bonus within three weeks of commencement of employment if permitted by the Deferred Compensation Committee member(s) representing such Participating Employer. The Compensation Reduction Agreement shall designate the amount to be deferred in whole percentages of Compensation and/or as a dollar amount. Salary deferrals shall be applied on a pro rata basis to each pay period during the Plan Year. In addition, a Participant shall be permitted to designate a Beneficiary on a form prescribed for such purpose by the Deferred Compensation Committee. To be effective, a Compensation Reduction Agreement and beneficiary designation form must be received and approved by the Deferred Compensation Committee.
Sample 1

Related to Compensation Reduction Agreements

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Servicing Compensation As compensation for the activities of the Servicer hereunder, the Servicer shall be entitled to the Servicing Fee with respect to each Mortgage Loan payable solely from payments of interest in respect of such Mortgage Loan, subject to Section 3.24. In addition, the Servicer shall be entitled to recover unpaid Servicing Fees out of Late Collections, Insurance Proceeds, condemnation proceeds or Liquidation Proceeds and as otherwise permitted by Section 3.11(a) and out of amounts derived from the operation and sale of an REO Property to the extent permitted by Section 3.23. Except as expressly provided in Sections 6.04 and 7.02 herein, the right to receive the Servicing Fee may not be transferred in whole or in part except in connection with the transfer of all of the Servicer’s responsibilities and obligations under this Agreement; provided, however, that the Servicer may pay from the related Servicing Fee any amounts due to a related Sub-Servicer pursuant to a Sub-Servicing Agreement entered into under Section 3.02; provided further that the Servicer may assign a portion of its Servicing Fee to an affiliate of the Servicer in connection with the ownership by such affiliate of the servicing rights attributable to the Mortgage Loans (provided that any right, title or interest of such affiliate in such portion of the Servicing Fee shall be subject to termination of the Servicer in accordance with the terms of this Agreement). Additional servicing compensation in the form of assumption or modification fees, late payment charges, insufficient funds fees, reconveyance fees and other ancillary fees (other than Prepayment Premiums) shall be retained by the Servicer (subject to Section 3.24) only to the extent such fees or charges are received by the Servicer. The Servicer shall also be entitled pursuant to Section 3.11(a)(iv) to withdraw from the Collection Account, and pursuant to Section 3.23(b) to withdraw from any REO Account, as additional servicing compensation, interest or other income earned on deposits therein, subject to Section 3.12 and Section 3.24. The Servicer shall be required to pay all expenses incurred by it in connection with its servicing activities hereunder (including premiums for the insurance required by Section 3.14, to the extent such premiums are not paid by the related Mortgagors or by a related Sub-Servicer, it being understood however, that payment of such premiums by the Servicer shall constitute Servicing Advances), servicing compensation of any Sub-Servicer and to the extent provided herein in Section 6.03, the indemnification of the Trustee, and shall not be entitled to reimbursement therefor except as specifically provided herein.

  • Services and Compensation Consultant agrees to perform for the Company the services described in Exhibit A (the “Services”), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

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