Common use of Staff Compensation Clause in Contracts

Staff Compensation. The Agent agrees that, as of the date of this Agreement, only those staff filling the positions described below will receive any part of their compensation paid from or charged to the Development, and then only for services provided by the Agent with respect to the Development. Thereafter, the Agent agrees that only those staff whose positions and compensation are detailed in the Budget approved by the Owner and the Authority will be paid from or charged to the Development. Per the Authority's written Management Fee Policy, as amended from time to time, a Central Office Employee performing temporary replacement duties may also be paid from or charged to the Development. The Agent understands that a material factor in its appointment by the Owner and approval by the Authority as the exclusive managing agent of the Development is the high level of experience and competence of the staff assigned to or providing services to or for the benefit of the Development. The staff positions paid from or charged to the Development are listed below:

Staff Compensation. The Agent agrees that, as of the date of this Agreement, only those staff filling the positions described below will receive any part of their compensation paid from or charged to the Development, and then only for services provided by the Agent with respect to the Development. Thereafter, the Agent agrees that only those staff whose positions and compensation are detailed in the Budget approved by the Owner and the Authority will be paid from or charged to the Development. Per the Authority's written Management Fee Policy, as amended from time to time, a Central Office Employee performing temporary replacement duties may also be paid from or charged to the Development. The Agent understands that a material factor in its appointment by the Owner and approval by the Authority as the exclusive managing agent of the Development is the high level of experience and competence of the staff assigned to or providing services to or for the benefit of the Development. The staff positions paid from or charged to the Development are listed below::