Salary and Incentives. 4.1 The Executive shall be paid monthly on the 1st day of each month (or last working day prior to the 1st) for his services for the prior month, at a salary rate of £406,500 per annum (inclusive of any director’s fees and salaries which may be payable to the Executive by the Company or any Associated Company), less normal deductions for tax and employee National Insurance contributions.
Salary and Incentives. Your annual base salary will be $350,000 In addition, you will be eligible to participate in the Zarlink Bonus Plan at 50% of base salary. Details of the plan will be communicated to you.
Salary and Incentives. Your annual base salary will be $350,000. In addition, you will be eligible to participate in the Zarlink Bonus Plan at 50% of base salary. Details of the plan will be communicated to you. In order to provide you with an incentive to remain in the employ of the Company, you will be entitled to receive a retention bonus equal to $350,000. The retention bonus, less applicable statutory deductions and withholdings, will be payable after the completion of one (1) year of employment; provided however, if your employment is earlier terminated by the Company without Cause, you will be entitled to receive 100% of the retention bonus or any unpaid portion thereof upon termination. The retention bonus payment will be made within 30 days after the anniversary date of employment, or in the case of termination without Cause, on the Termination Date.
Salary and Incentives. Through September 30, 2005, you will continue in your role as Chairman, CEO, and President, and you will receive your regular base salary, paid in accordance with the customary payroll practice in the monthly amount equal to $100,000, subject to applicable FICA and income tax withholding obligations. In addition to the monthly salary described above, for fiscal year 2006 you will also receive Long Term Incentive Awards of stock and cash under the Long Term Senior Management Incentive Plan ("LTSMIP") based on an award pool of 8% of the Company's excess after-tax earnings over and above 5% compound annual growth rate from a fixed five-year average earnings base and both of which will be prorated to reflect the number of days from the beginning of the fiscal year through your Resignation Date. Such payments will be calculated and paid in the same manner as LTSMIP Awards have been calculated and paid in the past for the Company's other senior executive officers participating in such plans, except that the stock and the cash awards payable to you will be immediately fully vested and no longer be subject to any risk of forfeiture. For fiscal year 2006 you will also receive an award under the Annual Management Incentive Plan ("MIP"), prorated for the fiscal year through your Resignation Date. The MIP Award will be based on the PBT performance scale approved by the Human Resources Committee of the Board on July 25, 2005. This award will not be restricted in any way and will not be subject to risk of forfeiture. The LTSMIP Awards and the Annual MIP Award described above will be subject to applicable FICA and income tax withholding obligations. From your Resignation Date through September 30, 2009 (the "Separation Date"), you will be employed in a non-officer capacity, with the title of Chairman and CEO Emeritus of the Company (the "Employment Period"), and during the Employment Period you will be paid half your regular base salary, paid in accordance with the customary payroll practice in a monthly amount equal to $50,000, subject to applicable FICA and income tax withholding obligations (the "Base Salary"); provided, however, that you shall not be entitled to the Base Salary so long as you, without good and sufficient reason (i.e., being directed to perform services inconsistent with the Requested Services (as defined below)) or in the absence of a material breach of this Agreement by the Company, willfully refuse to perform your duties and obligations contemplate...
Salary and Incentives. Salary. During the Term, the Company will pay Employee an annual salary of two hundred eighty-four thousand dollars ($284,000) (the “Base Salary”), subject to applicable tax withholding and payable in accordance with the Company’s normal payroll practices; provided that Employee’s Base Salary may be reduced to the extent that Employee elects to defer any portion thereof under the terms of any deferred compensation or savings plan maintained by the Company. During the Term, the Board of Directors shall review Employee’s Base Salary on an annual basis and, in its discretion, may award merit increases of Employee’s Base Salary in accordance with Company policy. Employee’s Base Salary may also be reduced during the Term, provided that such reduction must be consistent with across-the-board salary reductions made with respect to similarly situated employees of the Company.
Salary and Incentives. 5.1 The Executive shall receive a monthly salary of HRK 230,769.24 (gross), payable latest until the 15th day of each month for his services during the previous month (inclusive of any director’s fees and salaries which may be payable to the Executive by the Company or any Associated Company), less normal deductions for tax and employee contributions.
Salary and Incentives. You will continue to receive an amount equivalent to your current base salary at the current annual rate of Three Hundred Forty-Five Thousand Dollars ($345,000.00), in semi-monthly payments through February 28, 1999. You will receive Operational Incentive Plan (OIP) bonus payments of $172,500.00 for 1997 and 1998, said payments to be payable in February of 1998 and February of 1999, respectively. You will be deemed to be an OIP 1 or equivalent if such designation is changed. You will not be eligible to receive any incentive payment with respect to 1999 or any year thereafter. You will also receive a payment equivalent to the Strategic Incentive Plan (SIP) bonus with respect to 1997, said payment to be payable in February of 1998. You will not be eligible to receive any SIP payment with respect to 1998 or any year thereafter.
Salary and Incentives
