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. 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. 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. 2. The gross annual salary of teachers who work this additional time in Extended Time Schools shall be in accordance with the salary schedules set forth in Appendix F1.
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 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.
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

Related to TIME AND COMPENSATION

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

  • 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 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.

  • 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.

  • 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 $125.00 per hour.

  • 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.

  • WAGES AND COMPENSATION Section 1:

  • Employees and Compensation (A) Shown on Schedule 6.15(A) is a list of the name of each employee, sales agent or other Person, separately identified as to part-time or full-time, who is currently employed in the Business by Seller, together with each Person’s job classification, date of hire, and current rate of compensation (or method for computing same). All employees of Seller are “at will” employees whose employment may be terminated by Seller at any time, with or without notice or cause. (B) Schedule 6.15(B) hereto lists all compensation and benefit plans, contracts and arrangements maintained, sponsored or participated in by Seller or any of its Affiliates in connection with the Business and in effect as of the date hereof including, without limitation, all pension (including all such employee pension benefit plans as defined in Section 3(2) of ERISA), profit-sharing, savings and thrift, fringe benefit, bonus, incentive or deferred compensation, severance pay and medical and life insurance plans and employee welfare plans as defined in Section 3(1) of ERISA that are sponsored by Seller or any of its Affiliates and in which any employees of Seller participate (collectively, “Employee Benefit Plans”). (C) As to Employee Benefit Plans sponsored by Seller or its Affiliates that are “employee pension benefit plans” as defined in Section 3(2) of ERISA, such plans sponsored by Seller or its Affiliates are tax qualified under Section 401(a) of the Code, are not currently under examination by, nor are any matters pending before, the Internal Revenue Service, the Employee Benefits Security Administration or any quasi-government agency, are not subject to any claim, suit or arbitration (other than routine claims for benefits), are not subject to the minimum funding standards of Code Section 412, are in compliance with and have been administered in accordance with their terms and in compliance with all applicable requirements of law, including, but not limited to, the Code and ERISA, and there have been no prohibited transactions as defined in Code Section 4975 or ERISA Section 406 with respect to such plans that could subject Seller or its Affiliates to a tax or penalty under Code Section 4975 or ERISA Section 502(i). (D) Neither Seller nor any of its Affiliates has incurred any Liability under Title IV of ERISA that has or could, after the Effective Date, become a Lien upon any of the Purchased Assets pursuant to ERISA Section 4068. (E) Neither Seller nor any of its Affiliates is or has ever been required to contribute to any “multiemployer plan,” as such term is defined in Section 4001(a)(3) of ERISA, in which any employees of Seller in connection with the Business participate. (F) Except as set forth in Schedule 6.15(F), no Employee Benefit Plan provides medical, surgical, hospitalization, death or similar benefits (whether or not insured) for employees for period extending beyond their retirement or other termination of service, other than (i) coverage mandated by applicable law, or (ii) death benefits under any pension plan. (G) For the purposes of this Section 6.15, Seller shall include all trades or business under common control with Seller as provided in the regulations under Code Section 414(c).

  • 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.

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