METHODS OF COMPENSATION and PAYMENT OPTIONS Sample Clauses

METHODS OF COMPENSATION and PAYMENT OPTIONS. Agency will determine, in its discretion, Work Order Contract (WOC) payment methodology which may be based on any one or a combination of the following: Option (a): CPFF; Option (b): Fixed Price; Option (c): T&M; Option (d): Price Per Unit Assigned WOCs will identify the method(s) of compensation and progress payment option for each WOC, phase of Services or project phase. Consultant shall complete all Services and provide all deliverables as defined in the WOC. If the applicable compensation is exhausted, but Services and deliverables are not complete, Consultant shall complete the Services and provide the deliverables to Agency’s satisfaction without additional compensation. The amount payable under a WOC may be adjusted by Agency or renegotiated to: Reduce the NTE, Fixed-Price or Fixed-Fee amount associated with WOC Tasks/deliverables that were not authorized by Agency or not performed by Consultant; Reduce the NTE, Fixed-Price or Fixed-Fee amount commensurate with deductive amendments to reduce the risk associated with the project or to reduce the scope of work required under the WOC; Increase the NTE, Fixed-Price or Fixed-Fee amount for additional Tasks/deliverables added to the SOW via amendment to the WOC.
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METHODS OF COMPENSATION and PAYMENT OPTIONS. Agency will determine, in its discretion, Work Order Contract (WOC) payment methodology which may be based on any one or a combination of the following: (a) Cost Plus Fixed Fee with Not-to-Exceed (CPFF); Option (b): Fixed Price;
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METHODS OF COMPENSATION and PAYMENT OPTIONS. Consultant shall complete all Services and provide all deliverables as defined in the Contract. If the applicable compensation is exhausted, but Services and deliverables are not complete, Consultant shall complete the Services and provide the deliverables to Agency’s satisfaction without additional compensation. The amount payable under the Contract may be adjusted by Agency or renegotiated to: • Reduce the NTE, Fixed-Price or Fixed-Fee amount associated with tasks/deliverables that were not authorized by Agency or not performed by Consultant; • Reduce the NTE, Fixed-Price or Fixed-Fee amount commensurate with deductive amendments to reduce the risk associated with the Project or to reduce the scope of work required under the Contract; • Increase the NTE, Fixed-Price or Fixed-Fee amount for additional tasks/deliverables added to the scope of work via amendment to the Contract.
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METHODS OF COMPENSATION and PAYMENT OPTIONS. Agency will determine, in its discretion, Work Order Contract (WOC) payment methodology which may be based on any one or a combination of the following: Option (a): CPFF; Option (b): Fixed Price; Option (c): T&M; Option (d): Price Per Unit Assigned WOCs will identify the method(s) of compensation and progress payment option for each WOC, phase of Services or project phase. Consultant shall complete all Services and provide all deliverables as defined in the WOC. If the applicable compensation is exhausted, but Services and deliverables are not complete, Consultant shall complete the Services and provide the deliverables to Agency’s satisfaction without additional compensation. The amount payable under a WOC may be adjusted by Agency or renegotiated to: Reduce the NTE, Fixed-Price or Fixed-Fee amount associated with WOC Tasks/deliverables that were not authorized by Agency or not performed by Consultant; Reduce the NTE, Fixed-Price or Fixed-Fee amount commensurate with deductive amendments to reduce the risk associated with the project or to reduce the scope of work required under the WOC; Increase the NTE, Fixed-Price or Fixed-Fee amount for additional Services via amendment to the WOC, subject to the conditions and limitations set forth in the PA terms and conditions Part II, Section 25. A.1 METHODS OF COMPENSATION (a) CPFF [Note: CPFF is not applicable for Consultants that have NBRs. CPFF is commonly used for preliminary engineering phase (Professional Services and Related Services prior to Final Design).] Agency will pay Consultant actual costs plus the negotiated fixed fee, up to the NTE established in the WOC, to complete the Services required under the WOC. Actual Costs. Actual costs are limited to: Consultant Direct Salary Costs –the direct salary rate (up to the maximum rate approved for use under the PA for each classification) paid to the specific employee(s) productively engaged in work to complete the Services required under the WOC. Consultant Allowable Indirect Costs - (See section I, Indirect Costs) Consultant ODCs (without mark-up) – As approved under the WOC. Subconsultant Costs (without mark-up, up to the maximum rates approved for use under the PA or WOC) - direct salary rates, indirect costs (see section I- Indirect Costs), NBRs and ODCs that have been billed to Consultant and recognized by Consultant as valid, undisputed and payable for subconsultants productively engaged in work to complete the Services required under the WOC. Fixed-F...
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METHODS OF COMPENSATION and PAYMENT OPTIONS. Agency will determine, in its discretion, WOC payment methodology which may be based on any one or a combination of the following:  Option (a): Fixed Price;  Option (b): Time and Materials with NTE (T&M).
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Related to METHODS OF COMPENSATION and PAYMENT OPTIONS

  • Compensation and Payment Terms (a) Consultant’s fees for the Services shall be calculated at the rate(s) set forth in Exhibit “A” attached hereto. The Maximum Compensation to Consultant for the Services performed under this Agreement is One Hundred Ninety-Six Thousand Six Hundred Ninety-Seven and 70/100 Dollars ($196,697.70). In no event shall the amount paid by County to Consultant under this Agreement exceed said Maximum Compensation without an approved change order. (b) Consultant understands and agrees that the Maximum Compensation stated is an all-inclusive amount and no additional fee, cost or reimbursed expense shall be added whatsoever to the fees stated in the attached Exhibit “A.” (c) County will pay Consultant based on the following procedures: Upon completion of the tasks identified in the Scope of Services, Consultant shall submit to County staff person designated by the County Consultant, one (1) electronic (pdf) copy of the invoice showing the amounts due for services performed in a form acceptable to County. County shall review such invoices and approve them within 30 calendar days with such modifications as are consistent with this Agreement and forward same to the Auditor for processing. County shall pay each such approved invoice within thirty (30} calendar days. County reserves the right to withhold payment pending verification of satisfactory work performed.

  • COMPENSATION AND PAYMENTS 1.1 The Owner shall pay the Contractor to furnish all labor, equipment, materials and incidentals necessary for the construction of the Work described in the Specifications and shown on the Drawings the Contract Amount as shown below. Base Bid $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 Alternate Bid number and name or "no Alternates" $0.00 1.2 The Contractor’s requisition shall contain sufficient detail and supporting information for the Owner to evaluate and support the payment requested. 1.2.1 Payments are due and payable twenty-five working days from the date of receipt of a Contractor requisition which is approved by the Owner. 1.2.2 Provisions for late payments are governed by 5 M.R.S. Chapter 144, Payment of Invoices Received from Business Concerns, and interest shall be calculated at 1% per month.

  • Compensation and Payment 3.1 Consultant’s fees shall be calculated at the rates set forth in the attached Exhibit A. The Maximum Compensation for the performance of Services within the Scope of Services described in Exhibit A is ten thousand five hundred eighty-five dollars and no/100 ($10,585.00) as set forth in Exhibit A. In no case shall the amount paid by County under this Agreement exceed the Maximum Compensation without a written agreement executed by the parties. 3.2 All performance of the Scope of Services by Consultant including any changes in the Scope of Services and revision of work satisfactorily performed will be performed only when approved in advance and authorized by County. 3.3 County will pay Consultant based on the following procedures: Upon completion of the tasks identified in the Scope of Services, Consultant shall submit to County staff person designated by the County Engineer, one (1) electronic (pdf) copy of the invoice showing the amounts due for services performed in a form acceptable to County. County shall review such invoices and approve them within 30 calendar days with such modifications as are consistent with this Agreement and forward same to the Auditor for processing. County shall pay each such approved invoice within thirty (30) calendar days. County reserves the right to withhold payment pending verification of satisfactory work performed.

  • Payment Options The exercise price shall be paid by one or any combination of the following forms of payment that are applicable to this option, as indicated on the cover page hereof: (i) by check payable to the order of the Company; or (ii) delivery of an irrevocable and unconditional undertaking, satisfactory in form and substance to the Company, by a creditworthy broker to deliver promptly to the Company sufficient funds to pay the exercise price, or delivery by the Optionee to the Company of a copy of irrevocable and unconditional instructions, satisfactory in form and substance to the Company, to a creditworthy broker to deliver promptly to the Company cash or a check sufficient to pay the exercise price; or (iii) subject to Section 7(b) below, if the Common Stock is then traded on a national securities exchange or on the Nasdaq National Market (or successor trading system), by delivery of shares of Common Stock having a fair market value equal as of the date of exercise to the option price. In the case of (iii) above, fair market value as of the date of exercise shall be determined as of the last business day for which such prices or quotes are available prior to the date of exercise and shall mean (i) the last reported sale price (on that date) of the Common Stock on the principal national securities exchange on which the Common Stock is traded, if the Common Stock is then traded on a national securities exchange; or (ii) the last reported sale price (on that date) of the Common Stock on the Nasdaq National Market (or successor trading system), if the Common Stock is not then traded on a national securities exchange.

  • Method of Compensation It is understood by the parties that, insofar as pay is concerned, employees temporarily filling a position in a higher broadband level shall be paid according to the same compensation method as promoted employees pursuant to the Rules of the State Personnel System.

  • 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 and Method of Payment Subject to any limitations set forth in this AGREEMENT, CITY agrees to pay CONSULTANT the amounts specified in EXHIBIT "B" "COMPENSATION" and made a part of this AGREEMENT. The total compensation, including reimbursement for actual expenses, shall not exceed unless additional compensation is approved in writing by the City Council or City Manager. Each month CONSULTANT shall furnish to CITY an original invoice for all work performed and expenses incurred during the preceding month. The invoice shall detail charges by the following categories: labor (by sub-category), travel, materials, equipment, supplies, sub-consultant contracts and miscellaneous expenses. CITY shall independently review each invoice submitted by the CONSULTANT to determine whether the work performed and expenses incurred are in compliance with the provisions of this AGREEMENT. In the event that no charges or expenses are disputed, the invoice shall be approved and paid according to the terms set forth below. In the event any charges or expenses are disputed by CITY, the original invoice shall be returned by CITY to CONSULTANT for correction and resubmission. Except as to any charges for work performed or expenses incurred by CONSULTANT which are disputed by CITY, CITY will use its best efforts to cause CONSULTANT to be paid within thirty (30) days of receipt of CONSULTANT’s invoice. Payment to CONSULTANT for work performed pursuant to this AGREEMENT shall not be deemed to waive any defects in work performed by CONSULTANT.

  • Deferred Compensation Account The Employer shall maintain on its books and records a Deferred Compensation Account to record its liability for future payments of deferred compensation and interest thereon required to be paid to the Employee or his beneficiary pursuant to this Agreement. However, the Employer shall not be required to segregate or earmark any of its assets for the benefit of the Employee or his beneficiary. The amount reflected in said Deferred Compensation Account shall be available for the Employer's general corporate purposes and shall be available to the Employer's general creditors. The amount reflected in said Deferred Compensation Account shall not be subject in any manner to anticipation, alienation, sale, transfer, assignment, pledge, encumbrance, attachment or garnishment by creditors of the Employee or his beneficiary, and any attempt to anticipate, alienate, transfer, assign or attach the same shall be void. Neither the Employee nor his beneficiary may assert any right or claim against any specific assets of the Employer. The Employee or his beneficiary shall have only a contractual right against the Employer for the amount reflected in said Deferred Compensation Account and shall have the status of general unsecured creditors. Notwithstanding the foregoing, in order to pay amounts which may become due under this Agreement, the Employer may establish a grantor trust (hereinafter the "Trust") within the meaning of Section 671 of the Internal Revenue Code of 1986, as amended. The assets in such Trust shall at all times be subject to the claims of the general creditors of the Employer in the event of the Employer's bankruptcy or insolvency, and neither the Employee nor any beneficiary shall have any preferred claim or right, or any beneficial ownership interest in, any such assets of the Trust prior to the time such assets are paid to the Employee or beneficiary pursuant to this Agreement. The Employer shall credit to said Deferred Compensation Account the amount of any salary to which the Employee becomes entitled and which is deferred pursuant to Section 1 hereof, such amount to be credited as of the first business day of each month. The Employer shall also credit to said Deferred Compensation Account an Interest Equivalent in the amount and manner set forth in Section 3 hereof.

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

  • Performance and Payment Bonds The authority and responsibility for requesting performance and payment bonds shall rest with the Customer. Under this Contract, the Customer issuing the purchase order may request a performance and payment bond, as deemed necessary by the size of the job. Inability to provide a bond may result in the Contractor being found in default of the purchase order.

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