Modification of Compensation Sample Clauses

Modification of Compensation. AgFirst acknowledges and agrees that its compensation under the Servicing Agreements for its reduced central servicing obligations with respect to each Loan shall be calculated at the applicable Servicing Fee Rate set forth in the applicable Servicing Agreement less [material omitted pursuant to a request for confidential treatment and filed separately with the SEC]. In consideration of Xxxxxx Mac's performance of the servicing obligations transferred by this Transfer Agreement, Xxxxxx Mac shall receive a Servicing Fee with respect to each Loan calculated at a Servicing Fee Rate of [material omitted pursuant to a request for confidential treatment and filed separately with the SEC]. AgFirst acknowledges and agrees that any such Servicing Fee payable to Xxxxxx Mac does not include any transfer fees separately payable by AgFirst to Xxxxxx Mac with respect to a Loan in connection with the transfer of central servicing rights and obligations from HarvestOne Funding, LLC and Western Farm Credit Bank to AgFirst. AgFirst further acknowledges and agrees that, except for: (1) a $500 fee with respect to each partial release for which AgFirst prepares the documentation or other servicing action for which AgFirst performs legal work; and (2) any field servicer fees payable to AgFirst under the Servicing Agreements, AgFirst shall not be entitled to any other servicing compensation under the Servicing Agreements, including any compensation in the form of assumption fees, late payment charges, interest calculated at a penalty rate, or other service charges imposed upon borrowers in connection with servicing the Loans. AgFirst shall deposit that portion of the Servicing Fee and other servicing compensation due to Xxxxxx Mac in the Collection Account with the related Installment Payment and report that amount to Xxxxxx Mac in the Central Servicer Report for the related Collection Period.
Sample 1
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Modification of Compensation. Upon the mutual written agreement of the Company and the Executive, which may occur one or more times during the Initial Term of this Agreement or any renewal term, the Executive and the Company may agree that all or a portion of the compensation payable by the Company to the Executive pursuant to the provisions of this Article II or other provisions of this Agreement shall be suspended until such time as the financial circumstances of the Company more appropriately permit the payment of such compensation. With respect to any compensation, the payment of which is suspended, such compensation payment suspended shall accrue for the benefit of the Executive and shall be promptly paid in one or more installments upon the Company's attainment of the financial capability to effect such payment. If requested by the Executive, the Company shall cause to be prepared and delivered to the Executive one or more promissory notes evidencing such accrued but unpaid compensation hereunder and the principal of such note or notes shall bear interest at an annual rate equal to the corporate prime rate as charged from time to time by Northern Trust Bank of Florida, N.A., Sarasota, Florida.
Sample 1
Modification of Compensation. (a) For the period from the Effective Date through December 31, 2001, the Executive will continue to receive his Minimum Salary (currently payable at the rate of $1,600,000 per year). (b) For the year ended December 31, 2001, the Executive will receive (i) a guaranteed bonus of $1,500,000, which amount has been determined based on (A) the Corporation having revenue and operating income (which are the measures used for determining Executive's bonus in 2001) for the first six months of 2001 that will equal or exceed the respective budgeted amounts for that period, and (B) the amount of the full bonus for 2001 that Executive would have earned (i.e., $3,000,000) had Executive remained as Chief Executive Officer through all of 2001 and the Corporation achieves the budgeted revenue and operating income figures for the full year; and (ii) an additional amount based on the extent to which the Corporation achieves its revenue and operating income targets included in the Corporation's budget for the last six months of 2001, as calculated in accordance with the following sentence. The amount payable pursuant to (ii) shall be determined by adding the percentages of budgeted revenues and operating income for the last six months of 2001 which are represented by the actual revenues and operating income, respectively, for that period, dividing that sum by 2, and then multiplying that percentage by $750,000. By way of example, if the actual revenue for the last six months of 2001 is 100% of the budgeted revenue for that period, and operating income for the last six months of 2001 is 90% of budgeted operating income, the bonus for the period will be $712,500 (i.e., 95% times $750,000). The $1,500,000 guaranteed bonus will be paid by no later than August 31, 2001 and the bonus payable in respect of the last six months will be paid by no later than February 28, 2002. (c) Commencing in the year 2002 and continuing in each subsequent year through the end of the Term, the Minimum Salary will be increased as of January 1st of each year by 5% over the Minimum Salary in effect on December 31st of the preceding year. In addition, during each of those years, Executive will be entitled to a bonus based on the extent to which the Corporation achieves its revenue and operating income targets budgeted for that year, calculated as follows: add the percentages of budgeted revenues and operating income for the year which are represented by the actual revenues and operating income, respectiv...
Sample 1
Modification of Compensation. Notwithstanding the provisions of Section 7 below, the parties recognize that some of the products that are being or will be offered to customers for Specialty Physician Management Services may not fit the economic model envisioned at Section 7. In such a situation, the parties agree that they will in good faith attempt to revise the economic structure to create a budget tailored to the needs of the customer, and to appropriately divide the Service Fee. If the parties cannot agree to any modification of compensation hereunder, they shall submit their disputes to arbitration pursuant to Subsection 11.10.
Sample 1
Modification of Compensation. WPCTSA and Seniors First agree to amend Article 17, “Compensation”, in the Partnership Agreement to reflect a not to exceed amount of $123,640 annually.
Sample 1

Related to Modification of Compensation

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • 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.

  • Changes to Compensation Notwithstanding anything contained herein to the contrary, Employee acknowledges that the Company specifically reserves the right to make changes to Employee’s compensation in its sole discretion including, but not limited to, modifying or eliminating a compensation component. The Parties agree that such changes shall be deemed effective immediately and a modification of this Agreement unless, within seven (7) days after receiving notice of such change, Employee exercises his right to terminate this Agreement without cause or for “Good Reason” as provided below in Paragraph No.

  • Modification of Agreement This Agreement may be modified, amended, suspended or terminated, and any terms or conditions may be waived, but only by a written instrument executed by the parties hereto.

  • Compensation of Consultant Town agrees to pay to Consultant for satisfactory completion of all services included in this Agreement a total fee of Fifty Thousand ($50,000.00) for the Project as set forth and described in Exhibit B - Compensation Schedule and incorporated herein as if written word for word. Lump sum fees shall be billed monthly based on the percentage of completion. Hourly not to exceed fees shall be billed monthly based on hours of work that have been completed. Direct Costs for expenses such as mileage, copies, scans, sub- consultants, and similar costs are included in fees and shall be billed as completed. Consultant agrees to submit statements to Town for professional services no more than once per month. These statements will be based upon Consultant's actual services performed and reimbursable expenses incurred, if any, and Town shall endeavor to make prompt payments. Each statement submitted by Consultant to Town shall be reasonably itemized to show the amount of work performed during that period. If Town fails to pay Consultant within sixty (60) calendar days of the receipt of Consultant's invoice, Consultant may, after giving ten (10) days written notice to Town, suspend professional services until paid. Nothing contained in this Agreement shall require Town to pay for any work that is unsatisfactory as reasonably determined by Town or which is not submitted in compliance with the terms of this Agreement. The Scope of Services shall be strictly limited. Town shall not be required to pay any amount in excess of the original proposed amount unless Town shall have approved in writing in advance (prior to the performance of additional work) the payment of additional amounts.

  • Supplemental Compensation Pursuant to Section 7 of the Agreement, Supplemental Compensation is payable as follows.

  • Modification of Services Credit Union reserves the right to modify the Service from time to time without making prior notice to Member, provided, however, that Credit Union will give you at least thirty (30) days notice prior to making any modifications to the Service that would materially alter their functionality.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • ALTERATION OF AGREEMENT A. It is hereby agreed that any alteration or modification of this Agreement shall be binding upon the parties only if agreed to in writing by both parties. B. The waiver of any condition of this Agreement by either party shall not constitute a precedent in the future enforcement of all terms and conditions herein.

  • Form of Compensation Compensation for overtime shall be paid except where, upon request of the Employee, and with the approval of the Employer, or its representative, overtime may be granted in the form of time off in lieu of overtime hours worked.

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