Common use of Schedule of Employees Clause in Contracts

Schedule of Employees. Attached hereto as Exhibit C is a schedule (the “Reimbursable Employee Expense Schedule”) that sets forth: (a) a list of Manager’s employees (including the Property Manager) who shall be employed on-site in the direct management and operation of the Property; (b) the respective titles and salary of each such employee; (c) the length of time that each such employee has been employed by Manager; (d) whether each such employee works full or part-time (and if they work part-time, the number of hours they work per week); (e) the cost of salary, wages and bonus that may be charged to the Property for each such employee; and (f) whether each such employee is bonded or covered under Manager’s comprehensive crime insurance policy. The Reimbursable Employee Expense Schedule shall also identify any employees of Manager who are not located at the Property but whose salaries may be charged to the Property pro rata based upon services actually rendered by such employees directly to the Property (in which event the Reimbursable Employee Expense Schedule shall set forth the salaries of such offsite employees and the maximum percentage thereof that may be charged to the Property). In no event shall Manager be entitled to charge to the Property any employee-related expenses: (i) that relate to general or supervising management personnel, accountants or auditors; (ii) for which a separate fee is charged by Manager pursuant to this Agreement or otherwise; or (iii) that are not specifically set forth on the approved Reimbursable Employee Expense Schedule. The expenses chargeable to the Property pursuant to the Reimbursable Employee Expense Schedule may be modified from time to time only as part of the Approved Annual Business Plan or as otherwise agreed upon by Owner and Manager in writing.

Appears in 3 contracts

Samples: Property Management Agreement (Boston Capital Real Estate Investment Trust Inc), Property Management Agreement (Boston Capital Real Estate Investment Trust Inc), Property Management Agreement (Boston Capital Real Estate Investment Trust Inc)

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Schedule of Employees. Attached hereto as Exhibit C 2 (Employee Schedule) is a schedule (the “Reimbursable Employee Expense Schedule”) that sets forth: (a) a list of Manager’s employees (including the Property Manager) who shall to be employed on-site in the direct management and operation of the Property; (b) Site Wide Managed Areas, and of off-site employees providing services for the management of the Site Wide Managed Areas, including the names of such employees, their respective titles and salary ranges. All on-site employees (who are identified in Section A of each such employee; Exhibit 2 (cEmployee Schedule)) shall spend one hundred (100%) percent of their working time on matters related to the length Site Wide Managed Areas. As noted in Sections B and C of time that each such employee has been employed by Manager; Exhibit 2 (dEmployee Schedule), no portion of the compensation of any offsite personnel or any senior management or principal of the SWPM shall be includible as a Property Management Expense. Employees whose compensation may not be charged (in whole or in part) whether each such employee works full include, but are not limited to, general or part-time (supervising management personnel, accountants, and if they work part-timeauditors. Notwithstanding anything in this Agreement to the contrary, the number Site Wide Managed Areas manager and all other on-site staff must be approved by the Port Authority in advance, following the submittal by the SWPM of hours they work per week); details on the proposed property manager’s and staff’s background and experience. Exhibit 2 (eEmployee Schedule) shall be updated promptly by the cost of salary, wages SWPM to provide current information at all times and bonus that may such updated Exhibit 2 (Employee Schedule) shall be charged delivered by the SWPM to the Property for each such employee; Port Authority. All changes to Exhibit 2 (Employee Schedule) and all changes to staffing and staff allocations are subject to the prior approval of the Port Authority. Additionally, Exhibit 2 (fEmployee Schedule) whether each such employee is also indicates which employees are bonded or are covered under Managerthe SWPM’s comprehensive crime insurance policy. The Reimbursable Employee Expense Schedule SWPM shall also identify any employees discharge and/or cause to be discharged from the Site Wide Managed Areas all persons unnecessary or ineffective in providing or performing the Services and/or the SWPM’s duties hereunder consistent with the Standard of Manager who are not located Performance. In addition, at the Property but whose salaries may be charged Port Authority’s request, the SWPM will terminate the employment at the WTC of any employee of the SWPM who in the Port Authority’s sole judgment does not meet the standards of the Port Authority for the operation of the Site Wide Managed Areas, to the Property pro rata based upon services actually rendered extent permitted by such employees directly to the Property (in which event the Reimbursable Employee Expense Schedule shall set forth the salaries of such offsite employees law and the maximum percentage thereof that may be charged to the Property). In no event shall Manager be entitled to charge to the Property any employee-related expenses: (i) that relate to general or supervising management personnel, accountants or auditors; (ii) for which a separate fee is charged by Manager pursuant to this Agreement or otherwise; or (iii) that are not specifically set forth on the approved Reimbursable Employee Expense Schedule. The expenses chargeable to the Property pursuant to the Reimbursable Employee Expense Schedule may be modified from time to time only as part of the Approved Annual Business Plan or as otherwise agreed upon by Owner and Manager in writingapplicable collective bargaining agreements.

Appears in 1 contract

Samples: Site Wide Property Management Agreement

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