TIME AND COMPENSATION Sample Clauses

TIME AND COMPENSATION. The Licensor grants this license to Licensee with the understanding that within 45 days of the end of the License Period, Licensor and Licensee shall enter into good faith negotiations to determine the compensation due for the next License Period. If good faith negotiation and payment are not completed within 15 days of the end of the License Period, Licensor may consider this License Agreement to have terminated automatically. The good faith negotiation of compensation under this agreement must be commemorated in a separate writing agreed to by both parties.
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TIME AND COMPENSATION. You shall make yourself available for services by telephone calls, as well as at least one meeting every other month which can be implemented by telephone calls, one annual meeting at the company's facility plus additional meetings if your schedule permits. Upon signing this agreement you will receive nonqualified stock options to purchase 271,528 shares of Common Stock of HBT at an exercise price per share of $0.18. Fifty percent of the options shall become exercisable on the date of the option grant, 25% will become exercisable one year after the date of the option grant and the remaining options will become exercisable in a series of 36 successive equal monthly installments upon your completion of each additional month of service as an advisor or other capacity with the company over the 36 month period measured from the one-year anniversary date of the option grant. The options will be issued pursuant, and subject to, the terms of the Hemobiotech 2003 Stock Option/Stock Issuance Plan and the Non Qualified Stock Option Agreement, which will be provided separately. All reasonable expenses incurred by you during the course of your service as an advisory board member will be reimbursed by HBT within 45 days after submission by you of appropriate receipts documenting such expenses.
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TIME AND COMPENSATION. The Manager shall devote such time to management as the Manager deems to be necessary to conduct the Company’s business. The Manager shall be entitled to be reimbursed by the Company, as an expense of the Company, for the actual, reasonable, and necessary expenses incurred by it on behalf of the Company, upon submitting an itemized account of the expenses to the Company.
Sample 1
TIME AND COMPENSATION. You shall make yourself available for services by telephone calls, as well as at least one meeting every other month which can be implemented by telephone conference calls, one annual meeting at the company's facility plus additional meetings if your schedule permits. Upon signing this agreement you will receive a fee of $1500 per month to be paid at the end of each month and nonqualified stock option to purchase 15,000 shares of Common Stock of HBT at an exercise price per share of $0.85. In addition, at the end of each year of service on the advisory board, you will be granted an additional nonqualified stock option to purchase 5,000 shares of Common Stock of HBT at an exercise price equal to the then market value of the Common Stock. In each case, 25% of the Common Stock underlying the option shall become exercisable on [HEMOBIOTECH LOGO] the first anniversary of the option grant, provided you are still serving on the advisory board on such date, and the balance of the Common Stock underlying the option shall become exercisable in a series of 36 successive equal monthly installments upon your completion of each additional month of service on the advisory board over the 36-month period measured from the one-year anniversary date of the option grant. The options will be issued pursuant, and subject to, the terms of the HBT stock option plan which will be provided separately. All reasonable expenses incurred by you during the course of your service as an advisory board member will be reimbursed by HBT within 45 days after submission by you of appropriate receipts documenting such expenses.
Sample 1
TIME AND COMPENSATION. 1. In such designated Extended Time Schools, teachers shall work a mandated seven hour work day, inclusive of a duty-free lunch period, and an additional five workdays immediately preceding the start date designated at the beginning of the school year. Effective February 2006, teachers in ETS shall report on Brooklyn-Queens Day for professional development.
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Related to TIME AND COMPENSATION

  • 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:

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

  • Fees and Compensation Managers and Officers may receive such compensation and fees, if any, for their services, and such reimbursement for expenses, as may be determined by resolution of the Board.

  • Severance Compensation In the event (i) Employee terminates this Agreement for Good Reason in accordance with Paragraph 11.3 hereof; (ii) Employee is terminated for any reason (except death or disability) upon, or within six months following, a "Change in Management or Control (as such term is defined in Paragraph 11.5 hereof);" or (iii) Employee is terminated without Cause, the Company shall be obligated to pay severance compensation to Employee in an amount equal to his salary compensation (at the rate payable at the time of such termination) for a period of six (6) months from the date of termination. Notwithstanding the foregoing, if Employee is employed by a new employer, or as a consultant after the termination of this Agreement, the severance compensation payable to Employee hereunder shall be reduced by the amount of compensation that Employee actually receives from the new employer, or as a consultant. However, Employee shall have a duty to inform the Company that he has obtained such new employment, and the failure to do so is a material breach of this Agreement. In such event, the Company shall be entitled to (i) cease all payments to Employee under this Paragraph 11.4; and (ii) recover any unauthorized payments to Employee in an action for breach of contract. Notwithstanding anything else in this Agreement to the contrary, solely in the event of a termination upon or following a Change in Management or Control, the amount of severance compensation paid to Employee hereunder shall not include any amount that the Company is prohibited from deducting for federal income tax purposes by virtue of Section 280G of the Internal Revenue Code of 1986, as amended, or any successor provision. In addition to the foregoing severance compensation, the Company shall pay Employee (i) all compensation for services rendered hereunder and not previously paid; (ii) accrued vacation pay; and (iii) any appropriate business expenses incurred by Employee in connection with his duties hereunder and approved pursuant to Section 4 hereof, all through the date of termination. Employee shall not be entitled to any bonus compensation, whether vested or unvested; or any other compensation, benefits or reimbursement of any kind.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Employees and Compensation Schedule 3.12 contains a true and complete list of all employees of the Station, their job description, date of hire, salary and amount and date of last salary increase. Schedule 3.12 also contains a true and complete list as of the date of this Agreement of all employee benefit plans or arrangements applicable to the employees of the Station and all fixed or contingent liabilities or obligations of Seller with respect to any person now or formerly employed by Seller at the Station, including pension or thrift plans, individual or supplemental pension or accrued compensation arrangements, contributions to hospitalization or other health or life insurance programs, incentive plans, bonus arrangements, and vacation, sick leave, disability and termination arrangements or policies, including workers' compensation policies, and a description of all fixed or contingent liabilities or obligations of Seller with respect to any person now or formerly employed at the Station or any person now or formerly retained as an independent contractor at the Station.

  • Expenses and Compensation Except for expenses specifically assumed or agreed to be paid by the Portfolio Manager under this Agreement, the Portfolio Manager shall not be liable for any expenses of the Portfolio or the Trust, including, without limitation: (i) interest and taxes; (ii) brokerage commissions and other costs in connection with the purchase and sale of securities or other investment instruments with respect to the Portfolio; and (iii) custodian fees and expenses. For its services under this Agreement, Portfolio Manager shall be entitled to receive a fee, which fee shall be payable monthly in arrears at the annual rate of 0.45% of the average daily net assets of the Account.

  • Consulting Compensation In consideration for the services to be provided by the Consultant pursuant to Section 1, above, the Consultant shall be compensated as follows:

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Fixed Compensation Each of the Co-Managers will receive certain additional fixed compensation pursuant to separate agreements with Masterworks, which is not tied specifically to this Offering or to any other specific offering, but a portion of which is deemed to be underwriting compensation for this Offering. Such additional fixed compensation relates to (i) a monthly retainer for administrative support services and (ii) fixed compensation payments to representatives of Arete. $8,224 is a reasonable estimate of costs and expenses referenced in clauses (i) and (ii) above that are appropriately allocated to this Offering.

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