Annual Base Compensation. The Company agrees to pay the Executive during the term of this Agreement a salary at the rate of $700,000 per annum, payable in cash not less frequently than monthly. 4.
Annual Base Compensation. As compensation for services rendered under this Agreement, Employee shall be entitled to receive from Company an annual base salary of $375,000 (before standard deductions) during the first year of this Agreement. Employee's annual base salary shall be subject to review and adjustment by the Compensation Committee of the Company (the "Compensation Committee") on an annual basis, provided that any such adjustment shall not result in a reduction in Employee's annual base salary below $375,000, without Employee's consent. Employee's annual base salary shall be payable at regular intervals in accordance with the prevailing practice and policy of the Company.
Annual Base Compensation. “Annual Base Compensation” shall mean the total of the Executive’s most recent annual salary and target incentive under the Company’s Executive Incentive Plan.
Annual Base Compensation. During the Employment Period the Company shall pay to the Employee a base salary at the annual rate (the "ANNUAL BASE COMPENSATION") of $250,000. The Annual Base Compensation shall be paid in regular installments in accordance with the Company's general payroll practices, and shall be subject to all required federal, state and local withholding taxes. The Employee's Annual Base Compensation shall be reviewed by the Board annually, and may, in the discretion of the Board be increased, provided that there shall be no obligation on the part of the Company to increase the Employee's Annual Base Compensation, further provided that in no event shall the Employee's Annual Base Compensation be less than the greater of (i) the amount indicated in the first sentence of this Section 3.1 or (ii) the highest amount such Annual Base Compensation may have been increased to by the Board subsequent to the date of this Agreement in its discretion.
Annual Base Compensation. The Company shall pay to Employee an annual base salary (the "Annual Base Compensation") in the amount of two hundred twenty five thousand dollars ($225,000). The Annual Base Compensation shall be paid in regular installments in accordance with the Company's general payroll practices, and shall be subject to the payment by the Company of all required federal, state and local withholding taxes. Employee's Annual Base Compensation shall be reviewed by the Company's CEO and the Compensation Committee of the Board (the "Compensation Committee") annually.
Annual Base Compensation. As compensation for services rendered under this Agreement, Employee shall be entitled to receive from Company an annual base salary (before standard deductions) of no less than $75,000 during the initial term of this Agreement. Employees' annual base salary shall be subject to review and adjustment by the Compensation Committee of the Company on an annual basis, provided that there shall not be any downward adjustment. Employees' annual base salary shall be payable at regular intervals in accordance with the prevailing practice and policy of the Company.
Annual Base Compensation. Employer shall pay Xxxxxxxxx as annual base compensation (the “Annual Base Compensation”), payable in equal semimonthly payments, the sum of Nine Hundred Eighty Thousand Dollars ($980,000) during the term of this Agreement, which may be increased at the discretion of the Committee (as defined below), from time to time.
Annual Base Compensation. During the Employment Period the Company shall pay to Employee an annual base salary (the "Annual Base Compensation") in the amount of One Hundred Seventy Five Thousand and 00/100 dollars ($175,000.00). The Annual Base Compensation shall be paid in regular installments in accordance with the Company's general payroll practices, and shall be subject to all required federal, state and local withholding taxes. Employee's Annual Base Compensation shall be reviewed annually by the Board, and may, in the discretion of the Board, be increased between three and five percent (3-5%) from the prior year's Annual Base Compensation. Notwithstanding the forgoing, Employee's Annual Base Compensation shall be reduced by fifty percent (50%) until the Company achieves Four Million dollars ($4,000,000.00) in annualized revenue ("Target Revenue") as determined by the Company's Chief Financial Officer, subject to Board approval. Employee shall not be entitled to a retroactive increase in his Annual Base Compensation as of the commencement of the Initial Term or Extension Term, but shall be entitled to a retroactive increase in his Annual Base Compensation as of the date on which the Company's annualized revenue equals or exceeds the Target Revenue.
Annual Base Compensation. The Company shall pay to Executive for any and all services that Executive may render to the Company an annual base compensation of Six Hundred Fifty Thousand Dollars ($650,000), payable in equal installments on the Company’s regular payroll dates. The Compensation Committee of the Management Committee of the Company shall review Executives annual base compensation after the end of each calendar year commencing with the year ended December 31, 2005 in light of additional responsibilities which may be assumed by Executive, the result of operations and prospects of the Company, the compensation being paid to other persons holding similar positions with comparable companies and such other factors as it deems relevant; provided, however, that no such raise in compensation will be effective unless approved by the Company’s members acting through the Compensation Committee of the Board of Directors of GLR (“Member Approval”). Following each such review, and subject to Member Approval, the annual base compensation of Executive may be increased but may not be decreased below its then existing level.
Annual Base Compensation. During the Employment Period the Company shall pay to Executive an annual base salary-in the amount of Seven Hundred Thousand and 00/100 Dollars ($700,000.00) (the "Annual Base Compensation"). The Annual Base Compensation shall be paid in regular installments in accordance with the Company's regular payroll practices, and shall be subject to all required federal, state and local withholding taxes. Executive's Annual Base Compensation shall be reviewed annually by the Compensation Committee of the Company's Board of Directors, which shall make a recommendation for possible salary modifications subject to approval by the Company's Board of Directors, and any such modified amount shall become the Annual Base Compensation hereunder.
