This document is a policy statement that defines the way an associate will be compensated for originating client business for the firm. It provides the percentage of fees paid to the associate, along with a "cap" amount in any given year. It also addresses carry-over amounts to the next calendar year and the issue of the associate leaving the firm.
Harris Texas Policy Statement on Compensating Associates Originating Client Business is a comprehensive guideline provided by Harris Texas to clarify their approach and practices regarding compensation for associates involved in originating client business. This policy outlines the principles and procedures that Harris Texas follows to reward and incentivize associates for their efforts in bringing in new clients. At Harris Texas, the Compensation policy is designed to promote a fair and transparent process of remunerating associates involved in originating client business. This approach aims to recognize the significant role played by associates in expanding the client base and contributing to the overall growth and success of the company. The policy identifies several types of compensation arrangements for associates originating client business, which include: 1. Commission-based Compensation: Under this arrangement, associates receive a percentage of the revenue generated from the clients they have brought in. The specific percentage is typically determined based on various factors, including the type of business, the associate's level of experience, and the client's contribution to the company's profitability. 2. Bonus-based Compensation: In addition to the base salary, associates may be eligible for bonuses based on their performance in originating client business. These bonuses can be structured as a percentage of the revenue generated from the client or as a lump sum amount tied to predefined milestones or targets. 3. Long-term Incentive Plans: Harris Texas may also employ long-term incentive plans to motivate and reward associates for their contributions in originating client business. These plans often involve stock options, profit-sharing programs, or equity grants which vest over time, providing associates with a stake in the company's long-term success. 4. Team-based Compensation: In certain cases, Harris Texas may implement a team-based compensation approach, where associates working together to bring in new client business are collectively rewarded. The compensation is typically divided among the team members based on their respective contributions and responsibilities. Furthermore, the Harris Texas Policy Statement ensures that the compensation practices are compliant with all applicable laws, regulations, and industry standards. It emphasizes the importance of integrity and ethical conduct in all client interactions and encourages associates to adhere to the highest professional standards. It is crucial for associates to be familiar with and understand the specific details of the Harris Texas Policy Statement on Compensating Associates Originating Client Business. By aligning their efforts with these guidelines, associates can confidently pursue new client prospects, knowing they will be fairly rewarded for their contributions.Harris Texas Policy Statement on Compensating Associates Originating Client Business is a comprehensive guideline provided by Harris Texas to clarify their approach and practices regarding compensation for associates involved in originating client business. This policy outlines the principles and procedures that Harris Texas follows to reward and incentivize associates for their efforts in bringing in new clients. At Harris Texas, the Compensation policy is designed to promote a fair and transparent process of remunerating associates involved in originating client business. This approach aims to recognize the significant role played by associates in expanding the client base and contributing to the overall growth and success of the company. The policy identifies several types of compensation arrangements for associates originating client business, which include: 1. Commission-based Compensation: Under this arrangement, associates receive a percentage of the revenue generated from the clients they have brought in. The specific percentage is typically determined based on various factors, including the type of business, the associate's level of experience, and the client's contribution to the company's profitability. 2. Bonus-based Compensation: In addition to the base salary, associates may be eligible for bonuses based on their performance in originating client business. These bonuses can be structured as a percentage of the revenue generated from the client or as a lump sum amount tied to predefined milestones or targets. 3. Long-term Incentive Plans: Harris Texas may also employ long-term incentive plans to motivate and reward associates for their contributions in originating client business. These plans often involve stock options, profit-sharing programs, or equity grants which vest over time, providing associates with a stake in the company's long-term success. 4. Team-based Compensation: In certain cases, Harris Texas may implement a team-based compensation approach, where associates working together to bring in new client business are collectively rewarded. The compensation is typically divided among the team members based on their respective contributions and responsibilities. Furthermore, the Harris Texas Policy Statement ensures that the compensation practices are compliant with all applicable laws, regulations, and industry standards. It emphasizes the importance of integrity and ethical conduct in all client interactions and encourages associates to adhere to the highest professional standards. It is crucial for associates to be familiar with and understand the specific details of the Harris Texas Policy Statement on Compensating Associates Originating Client Business. By aligning their efforts with these guidelines, associates can confidently pursue new client prospects, knowing they will be fairly rewarded for their contributions.
