Compensation and Benefits During the Employment Term Sample Clauses

Compensation and Benefits During the Employment Term. (a) The Executive's base compensation shall be at the rate of $5,000 per month, for the term of this Agreement, payable in regular semi-monthly installments in accordance with the Company's practice for its executives, less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Company's Directors at their sole discretion.
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Compensation and Benefits During the Employment Term. (a) SALARY. Commencing upon the date of this Agreement, Executive will be paid the first year an annual base salary of $150,000, the second year an annual base salary of $162,000, the third year an annual base salary of $174,000, payable in accordance with the then current payroll policies of Company or as otherwise agreed to by the parties (the "Salary"). At any time and from time to time the Salary may be increased for the remaining portion of the term if so determined by the Board of Directors of Company after a review of Executive's performance of his duties hereunder. Executive will not be entitled to receive sales commissions.
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Compensation and Benefits During the Employment Term. (a) The Executive's base compensation shall be at the rate of $________ per month, for the term of this Agreement, payable in regular semi-monthly installments. At the election of the Executive, his compensation may be payable in shares of the Company's common stock, registered on Form S-8 under the Securities Act of 1933 or such other form as may be appropriate, or at the election of the Executive pursuant to an exemption from registration under the Act. Cash compensation shall be less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Company's board of directors at its sole discretion. Any unpaid balance during the year shall be adjusted and paid on or before each fiscal year end. (b) In addition to the Executive's base compensation, Executive will be entitled to a bonus as determined by the Company's board of directors from time to time. Further, the Executive shall be entitled to a special bonus in the event that lenders or investment bankers working with the Company require the personal guarantee of the Executive. In the event of a change in control of the Company, resulting in Executive ceasing to serve as the Company's chief executive officer and chief operating officer, Executive shall be entitled to receive and the Company shall pay to Executive within ninety (90) days of the change in control a sum equal to three (3) years of the base salary then payable to Executive under this Employment Agreement, and issue to Executive the shares underlying the common stock purchase warrants provided in 4(d) below, based upon and adjusted exercise price equal to par value of the shares at the date of the change in control. (c) The Executive shall be entitled to reimbursement of all reasonable, ordinary and necessary business related expenses incurred by him in the course of his duties and upon compliance with the Company's procedures. (d) The Executive shall be granted common stock purchase warrants, exercisable on a cashless basis, for 400,000 shares per annum commencing on February 1, 2012 and on each consecutive February 1st for a period of five (5) years, based upon an exercise price equal to the lower of: (i) the par value of the shares of common stock; or (ii) $.03 per share. The warrants will provide for an expiration date two (2) years following each annual grant, as set forth in the warr...
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Compensation and Benefits During the Employment Term. (a) SALARY. Commencing upon the date of this Agreement, Executive will be paid a base salary of $30,000 the first year, $70,000 the second year and $120,000 for years three through five. At any time and from time-to-time the base salary may be increased for the remaining portion of the term if so determined by the Board of Directors of the Company after a review of Executive's performance of his duties hereunder. Executive will not be entitled to receive sales commissions.
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Compensation and Benefits During the Employment Term. The Executive shall be entitled to the following compensation and benefits:
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Compensation and Benefits During the Employment Term a. The Executive's base compensation shall be at the rate of $10,000 per month, for the term of this Agreement, payable in regular semi-monthly installments in accordance with the Company's practice for its executives. At the election of the Executive, his compensation may be payable in shares of the Company's common stock, registered on Form S-8 under the Securities Act of 1933 or such other form as may be appropriate, or at the election of the Executive pursuant to an exemption from registration under the Act. Cash compensation shall be less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Company's board of directors at its sole discretion. Any unpaid balance during the year shall be adjusted and paid on or before each fiscal year end.
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Compensation and Benefits During the Employment Term. The Executive’s base compensation shall be at the rate of $750 per month, for the term of this Employment Agreement, payable in regular semi-monthly installments. In addition to the Executive’s base compensation, Executive will be entitled to a bonus as determined by the Company’s board of directors from time to time, if and when declared by the board of directors. The Executive shall be entitled to reimbursement of all reasonable, ordinary and necessary business related expenses incurred by him in the course of his duties and upon compliance with the Company’s procedures. The Executive shall also be granted common stock purchase warrants, exercisable on a cashless basis, for 7,000,000 shares of common stock (the "Options"), pursuant to an employee stock option plan to be adopted by the Company's board of directors (the "ESOP"). The Parties understand that the Options shall be subject to certain vesting provisions and such other terms and conditions as shall be contained in the ESOP.
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Compensation and Benefits During the Employment Term 
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Related to Compensation and Benefits During the Employment Term

  • Compensation and Benefits During Employment During the Employment, the Company shall provide compensation and benefits to the Executive as follows.

  • Compensation and Benefits Upon Termination of Employment (a) If the Company shall terminate the Executive's employment after a Change in Control other than pursuant to Section 3(b), 3(c) or 3(d) and Section 3(f), or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive, as severance compensation and in consideration of the Executive's adherence to the terms of Section 5 hereof, the following:

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • Employment Termination This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

  • Term of Employment; Termination (a) The “

  • Employment Termination Date The Employment Termination Date shall be as follows: (i) if the Executive’s employment is terminated by Executive’s death, the date of Executive’s death; (ii) if the Executive’s employment is terminated pursuant to any other provision of this Agreement, the date specified in the Notice of Termination (the “Employment Termination Date”).

  • Duties During the Period of Employment As Employer’s Executive Vice President and Chief Operating Officer, Employee shall have full responsibility, subject to the control of Employer’s President and Chief Executive Officer and/or the authorized designee of Employer’s Board of Directors, for the supervision of all assigned aspects of Employer’s business and operations, including all activities related to banking, operations, wealth management, insurance and employee benefit services, and the discharge of such other duties and responsibilities to Employer, not inconsistent with such position, as may from time to time be reasonably assigned to Employee by Employer’s President and Chief Executive Officer, or the authorized designee of Employer’s Board of Directors. Employee shall report to Employer’s President and Chief Executive Officer. Employee shall devote Employee’s best efforts to the affairs of Employer, serve faithfully and to the best of Employee’s ability and devote all of Employee’s working time and attention, knowledge, experience, energy and skill to the business of Employer, except that Employee may affiliate with professional associations, and business, civic and charitable organizations, provided that such affiliations are not inconsistent with and do not interfere with the performance of Employee’s duties under this Agreement. Employee shall serve on the Board of Directors of, or as an officer of Employer’s affiliates, without additional compensation if requested to do so by the Board of Directors of Employer. Employee shall receive only the compensation and other benefits described in this Agreement for Employee’s services to affiliates of Employer.

  • During the Term of Employment (a) Executive shall be eligible to participate in any life, health and long-term disability insurance programs, pension and retirement programs, stock option and other incentive compensation programs, and other fringe benefit programs made available to senior executive employees of the Company from time to time, and Executive shall be entitled to receive such other fringe benefits as may be granted to him from time to time by the Company's Board of Directors.

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

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