Extended Compensation Clause Samples
The Extended Compensation clause establishes the conditions under which payment or compensation to a party continues beyond the original terms of an agreement. Typically, this clause applies when a project or service extends past its anticipated completion date, or when additional work is required that was not initially foreseen. By specifying how and when extra compensation is calculated and paid, the clause ensures that parties are fairly remunerated for additional time or effort, thereby preventing disputes over payment for extended services.
Extended Compensation. 32 Extended compensation will not be considered part of said contract determining the true 33 per diem rate. 34
Extended Compensation. Teachers required to spend additional days shall be compensated at a rate of 1/184 of their teaching salary.
Extended Compensation. Any employee who is asked and agrees to work beyond one hundred eighty (180) days shall receive additional compensation based on 1/180 of the employee’s regular contracted salary for each day of the contract extension. Extended compensation is designed for positions whose duties and responsibilities require time beyond the regular contract day and/or year, which is between September 1st and August 31st. Extended compensation will be prorated for all positions, except librarians and the Yelm Extension School counselor. These days will be utilized as agreed upon between the District and Association as some activities may occur throughout the school year. Career & Technical Education (CTE) employees are eligible for compensation and advisor stipends paid from vocational funding, so long as there is no overlap of duties and/or pay. These positions include: Agriculture and Renewable Natural Resources, Business Education, Technology and Industry Education, Publishing, Automotive Education, Thespian, Marketing Education and Health Science Education employees.
Extended Compensation. In the event that there occurs a sale of --------------------- substantially all the assets of the Company or a sale of a sufficient amount of stock in the Company, whether by tender offer, original issuance, or a single or series of related stock purchaser and sale agreements and/or transactions sufficient to confer on the purchaser or purchasers thereof (whether individually or in a group) the ability to elect a majority of the Board of Directors of the Company, the Company shall be obligated to pay to the Employee the sum of $200,000.00 per year, such sum to be paid in annual installments in arrears (the "Extended Compensation") for a period not to exceed the earlier of five (5) years or the life of the Employee, the first installment to be paid on the date which is one year after the occurrences of the event giving rise to the payment; provided however, that such Extended Compensation shall be paid in lien of, and not in addition to, any compensation paid pursuant to Section 5 hereof. No payment of Extended Compensation shall be made without first obtaining the affirmative vote of at least seventy-five percent (75%) of the shareholders of the Company (which calculation shall be made without regard to any shares held by Employees) immediately prior to the change in control of the Company as described above; such vote shall determine the right of the Employee to receive the Extended Compensation, on the condition that full disclosure be made of all material costs concerning all payments to be made pursuant to this Section 6. Notwithstanding the provisions of Section 9 hereof, the obligation of the Company to make payments of Extended Compensation shall terminate only upon the death of the Employee or the expiration of the five (5) year term.
Extended Compensation. In the event that there occurs a sale of --------------------- substantially all the assets of the Company or a sale of a sufficient amount of stock in the Company, whether by tender offer, original issuance, or a single or series of related stock purchase and sale agreements and/or transactions sufficient to confer on the purchaser or purchasers thereof (whether individually or in a group) the ability to elect a majority of the Board