Examples of Annual Base Salary in a sentence
For services performed by Executive under this Agreement, Bank shall pay Executive an annual base salary during the Employment Period at the rate of Five Hundred Ninety-two Thousand Dollars ($592,000) per year, minus applicable withholdings and deductions, payable at the same times as salaries are payable to other executive employees of the Bank ("Annual Base Salary").
In reviewing adjustments to Annual Base Salary, the Compensation Committee shall consider relevant market data regarding executive salaries at peer financial institutions and the performance of the Corporation and the Bank under the Executive’s leadership.
If Executive’s employment shall be terminated by reason of his disability, the Bank shall pay Executive his then current Annual Base Salary (less applicable taxes and withholdings) prorated through the date of termination, together with the amount of any unreimbursed business expenses as of the date of termination and, except as otherwise provided in this Section 3(e), the Corporation and the Bank shall have no further obligation to the Executive under this Agreement.