Service Percentage Clause Samples
The Service Percentage clause defines the proportion or rate at which services are billed or compensated under an agreement. Typically, this clause specifies a fixed or variable percentage that applies to the value of services rendered, such as a consultant receiving 10% of project revenue or a contractor being paid a percentage of total costs. Its core practical function is to establish a clear and agreed-upon method for calculating payments, thereby preventing disputes over compensation and ensuring transparency in financial arrangements.
Service Percentage. The "Service Percentage" for each Management Member (or Ex-Management Member, as applicable) shall be the Total Service Percentage multiplied by the quotient obtained by dividing (x) the number of Retainable Service Points allocated to such Management Member (or, in the case of any Ex-Management Member, the allocated and retained Service Points of such Ex-Management Member as determined in accordance with the schedule set forth in Section 8.3(b) hereof) by (y) 1000 (or, if the pool of allocated Service Points has been increased above 1000 (such increased number, the "Total Service Pool Points"), the Total Service Pool Points). For purposes of this Agreement, (A) the "Total Service Percentage" means five percent (5%), (B) the "Adjusted Total Service Percentage" means the product of (x) the Total Service Percentage and (y) the Carry Adjustment Factor, (C) the "Adjusted Total Vested Service Percentage" means the product of (x) the Adjusted Total Service Percentage and (y) the Vested Service Factor, and (D) the "Vested Service Factor" means, at any date of determination, the quotient obtained by dividing (x) the Aggregate Retainable Service Points by (y) the total Service Points then allocated to Management Members and Ex-Management Members (it being understood that such total may be less than 1000).
Service Percentage. FOR AMENDED PLANS (Plan Section 6.4(f)) If the vesting schedule has been amended to a less favorable schedule, enter the pre-amended schedule below:
Service Percentage. EXCLUDED VESTING SERVICE
Service Percentage. The "Service Percentage" for each Management Member (or Ex-Management Member, as applicable) shall be the Total Service Percentage multiplied by the quotient obtained by dividing (x) the number of Retainable Service Points allocated to such Management Member (or, in the case of any Ex-Management Member, the number of Ex-Management Retained Service Points held by such Ex-Management Member) by (y) 1000 (or, if the pool of allocated Service Points has been increased above 1000 (such increased number, the "Total Service Pool Points"), the Total Service Pool Points). For purposes of this Agreement, (A) the "Total Service Percentage" means five percent (5%), (B) the "Adjusted Total Vested Service Percentage" means the product of (x) the Total Service Percentage and (y) the Carry Adjustment Factor.
Service Percentage. VESTING FOR EMPLOYER MATCHING CONTRIBUTIONS The vesting schedule for Employer matching contributions, based on a Participant's Years of Service (or Periods of Service if the Elapsed Time Method is elected) shall be as follows: