RUMUNERATION Sample Clauses

RUMUNERATION. All Officers shall be paid at twice (2) monthly intervals with a total of twenty-four (24) payments per year. Payroll periods will be calculated up to the 15th and the last day of each month. The company has a direct deposit system and payment shall be made to the Officer’s account, on the 3rd and 18th of each month.
Sample 1Sample 2
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RUMUNERATION. The remuneration of the Executive shall be as follows: 1) The Company shall pay the Executive an annual salary of HK$700,000, payable no less frequently than monthly. Such salary shall include any sum receivable as other remuneration from any other member of the Group (if any), and shall be reviewed by the Board each year at the time of the annual salary reviews for senior executives provided that the Executive shall abstain from voting and shall not be counted in the quorum in respect of any resolution regarding the amount payable to himself in relation to his employment under this Agreement which is proposed at any meeting of the Board; 2) The Company's Board may, in respect of every financial year of the Company, grant to the Executive a discretionary bonus, provided that bonuses payable by the Company to its executive directors in any financial year shall not exceed ten per cent of the net profits (after tax and after extraordinary items) of the Company for such year as shown in its audited accounts. Said discretionary bonus shall be payable within thirty (30) days after the Company's accounts for the relevant year have been audited and certified, provided that such discretionary bonus shall be paid only on a pro rata basis in respect of any financial year of the Company during a portion only of which the Executive has served the Company hereunder, unless his employment shall have been terminated pursuant to Clause 8.2, in which case no discretionary bonus is payable. 3) In addition to the above benefits, the Executive shall also be entitled to such other benefits under any applicable employee benefit plan (including medical & hospital coverage insurance, spouse and dependable medical insurance).
Sample 1
RUMUNERATION. The remuneration of the Executive shall be as follows: a) The Company shall pay the Executive an annual salary of HK$600,000, payable no less frequently than semi-monthly, without any deductions, withholdings or offsets. Such salary shall include any sum receivable as director's fees or other remuneration from any other member of the Group (if any), and shall be reviewed by the Board each year at the time of the annual salary reviews for senior executives provided that the Executive shall abstain from voting and shall not be counted in the quorum in respect of any resolution regarding the amount payable to himself in relation to his employment under this Agreement which is proposed at any meeting of the Board; b) The Company shall, immediately upon the Executive's execution and delivery of this Agreement, and on each anniversary date of this Agreement, issue to the Executive such number of the Company's freely tradable Common Shares valued at HK$400,000. After each such issuance each year, the Company shall have the right to repurchase such shares issued with respect to such year at HK$1 if either the Executive voluntarily terminates his employment under this Agreement or the Company terminates the Executive's employment under this Agreement under Clause 8.2 below, provided that at the end of each 90-day period after each date of each issuance, the Company's repurchase right under this Clause 4(b) with respect to one quarter of such shares issued with respect to such year terminates. For the avoidance of doubt, for each annual issuance, the right of repurchase terminates 360 days after such issuance. The shares issuable under this Clause 4(b), if freely tradable, shall be valued at the last trade on the exchange where they are primarily traded or, if not traded on an exchange, generally at the reported last sale or reported closing bid price last quoted by an established over-the-counter quotation service (the "Market Price"). Restricted securities will be valued at a 15% discount from the Market Price. Notwithstanding any provision herein to the contrary, if the Company fails to issue any such Common Shares to the Executive as provided in this Clause 4(b) for whatever reason within six months after such issuance is due, the Company shall immediately pay the Executive HK$200,000 and shall pay the Executive an additional HK$200,000 on the anniversary of the date when such issuance is due, and the Company's obligation to issue Common Shares under this Clause...
Sample 1

Related to RUMUNERATION

  • Managers Compensation Any or all Managers may receive such reasonable compensation for their services, whether in the form of salary or otherwise, with expenses, if any, as the Board may reasonably determine. Any such compensation and expense will be paid by the Member.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125 per hour.

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • CONSULTANT’S COMPENSATION Consultant’s Compensation means the fees and expenses incurred directly in connection with the performance or furnishing of Basic and Additional Services for which the Owner shall pay the Consultant as indicated in Exhibit A.

  • PROFESSIONAL COMPENSATION A. The salaries of employees covered by this Agreement are set forth in the appendixes which are attached hereto and incorporated in this Agreement. Each employee shall have the yearly option of receiving his/her salary in one of the following ways: 1. Each employee hired after July 1, 1987, shall receive his/her total salary divided into twenty-four (24) equal payments on the fifth (5th) and twentieth (20th) of each month. If the 20th of the month falls on a holiday or weekend, the payday will be on the first business day immediately following. 2. Employees employed in the District prior to July 1, 1987, may have their total salary divided as stated above or they may choose to have their pay divided into twenty-one (21) equal installments, beginning with the August 20th payroll each contract year. B. Total salary for less than full-time employees shall be paid as indicated in 1 or 2 above, beginning at the date of hire, but the salary shall be adjusted based on the yearly number of work days for employees as set by the school calendar, and then pro-rated on the portion of the year and/or day worked by the individual employee. C. It is understood and agreed that each employee shall elect payment for the subsequent year in accordance with the previous year's selection unless the Business Office is notified in writing of such employee's change in selection on or before August 15. D. Pay deductions will be made only for the following authorized items: 1. Mandatory/voluntary government deductions. 2. IRS Section 125 deductions. 3. Insurance carriers designated by this Agreement or approved by the Employer. 4. Deductions as authorized in other articles of this Agreement. E. The Employer may make direct payroll check deposits to banks, savings and loan associations, and other financial and with which the Employer has a written agreement dealing with payroll deposits. Such direct payroll deposits would be made only upon the written request/approval of the employee. F. The Employer shall reimburse employees for actual costs of college tuition and fees, upon completion of coursework. This reimbursement shall be limited to a total of 6 credit hours or 18 SBCEU’s or 180 SCECH’s or a combination thereof in a five-year period. (3 SBCEU’s = 1 credit hour or 30 SCECH’s = 1 credit hour) Each year of the five year period will be based on the school fiscal year (July 1 to June 30). The rate of reimbursement shall be limited to the actual amount of tuition and fees paid, but shall not exceed the amount charged by Grand Valley State University per graduate credit hour. The Employee will be required to provide proof of payment and proof of successful completion of the course. G. Employees asked to substitute during their planning period will be paid at a rate of $25.00 per planning period. The employee will receive a coupon for an early dismissal or late arrival, or other site based incentives along with the compensation. This coupon may be used at any time so long as it does not interfere with the employee’s normal duties, i.e. staff meetings, IEPC. More than one coupon may be used at the same time with the approval of the Administration. A coupon is attached to this agreement, (see Appendix F). Employees asked to teach additional students for a period shall be eligible for the substitute rate above.

  • Complaints and Compensation If you have a complaint of any kind, please be sure to let us know. We will do our utmost to resolve the issue. You can put your complaint in writing to us at:

  • Full Compensation Subrecipient agrees to accept the specified compensation as set forth in this Contract as full remuneration for performing all services and furnishing all staffing and materials required, for any reasonably unforeseen difficulties which may arise or be encountered in the execution of the services until acceptance, for risks connected with the services, and for performance by the Subrecipient of all its duties and obligations hereunder.

  • WAGES AND COMPENSATION Section 1:

  • Services and Compensation Consultant shall perform the services described in Exhibit A (the “Services”) for the Company (or its designee), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

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