No Salary Clause Samples
The "No Salary" clause establishes that the individual or party subject to the agreement will not receive a salary or regular wage for their services or involvement. In practice, this means that compensation, if any, may be provided in other forms such as equity, commissions, or reimbursement of expenses, but not as a fixed periodic payment. This clause is commonly used in agreements with volunteers, founders, or advisors to clarify that no standard salary is expected, thereby preventing misunderstandings about compensation and ensuring all parties are aware of the financial terms.
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No Salary. The Executive agrees that he shall not be entitled to receive a salary during the term of this Agreement unless pursuant to an amendment hereto signed by the Executive and the Company. So long as the Executive remains a non-salaried employee, the Executive shall not receive any of the social insurance benefit required by the government.
No Salary. In respect of the period during which the Employee fails to carry out his work contrary to his obligations, the Employer shall not owe him any salary, unless this CLA stipulates otherwise.
No Salary. Except as set forth herein, or as subsequently agreed --------- to in writing, no Partner shall receive any salary, commission or fee for service rendered on behalf of the Partnership.
No Salary. The General Partner shall receive no salary or other --------- compensation from the Partnership, but shall be entitled to its share of allocations and distributions made by the Partnership determined in the manner set forth herein.
No Salary. 15 3.11 Loans to Divisional Companies...................... 15 ARTICLE 4:
No Salary. Except upon the affirmative Vote of all Members, no --------- Member or Affiliate will be entitled to any salary or other form of compensation paid by the Company for services rendered to the Company. The foregoing prohibition will not apply to a Member's allocation of any Profits pursuant to Article 4 or receipt of any Distribution contemplated by this Agreement pursuant to Article 5 or Article 12.
No Salary. For the performance of Employee's duties hereunder, the Company shall pay Employee no salary through July 31, 2005. Thereafter, Employee shall be entitled to receive an annual salary in the amount of $250,000 (the "Base Compensation").
No Salary. 11 ARTICLE 4: