CONSIDERATION COMMITTEE Sample Clauses

CONSIDERATION COMMITTEE. 1.2.1. A consideration committee shall be set up in which the life division manager participates as an ex-officio member and in which the other members shall be one partner (elected by lot or by agreement between the partners) from each office. 1.2.2. Election of members for next consideration year shall take place each year in November/December. 1.2.3. The committee shall be set up for one consideration year at a time so that the committee which has fixed the base consideration for the financial year shall also fix the bonus consideration for the same financial year. 1.2.4. Within the framework stated above the consideration committee shall decide the share of the advance profit to be used for base consideration and the share to be used for bonus consideration. 1.2.5. Prior to the 3rd payment of consideration in the coming year and not later than on February 15 the consideration committee shall decide the distribution of the base consideration for the coming year on the basis of an evaluation of the individual partner and of the whole and the committee shall decide the evaluation criteria. 1.2.6. For the first 2 months account payments shall be made corresponding to the amounts paid the foregoing year. When the base consideration for the coming year has been decided, the account payments for the first 2 months shall be adjusted. 1.2.7. At the end of the financial year, when the financial result is known the consideration committee distributes the bonus consideration. The bonus consideration is granted to the individual partner on the basis of a careful evaluation of his/her performance for the year and the committee shall decide the evaluation criteria. 1.2.8. Where the individual partner is not satisfied with the base consideration fixed by the consideration committee for him/her or with the distribution of the bonus consideration, he/she may bring the issue before the management, which shall then decide whether changes of the distribution should be made. The issue shall be brought before the management not later than one week after the partner has received information about his/her base consideration for the coming year. The decision of the management may be brought before the executive committee not later than 4 weeks after a partner has been notified of it. 1.2.9. When new partners are taken in, the base consideration shall be decided by the life division manager, who shall obtain the approval of the consideration committee, prior to the admission of ...