Annual Base Salary and Target Bonus Continuation Sample Clauses

Annual Base Salary and Target Bonus Continuation. For a period of twelve (12) months beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal the sum of Executive's then-current Annual Base Salary and Target Bonus for the year in which the Date of Termination occurs. Payments under any long term cash incentive plan are not part of or included in this calculation.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Annual Base Salary and Target Bonus Continuation. For the remainder of the Employment Period, the Company shall pay to the Executive, the Executive’s then-current Annual Base Salary and Current Target Bonus as would have been paid to the Executive had the Executive remained in the Company’s employ throughout the Employment Period; provided that in all cases the Executive shall receive, at minimum, the then-current Annual Base Salary and Current Target Bonus for the remainder of the Employment Period, or for a period beginning on the Date of Termination and ending one year thereafter, whichever is longer. The Company at any time may elect to pay the balance of such payments then remaining in a lump sum, in which case the total of such payments shall be discounted to present value on the basis of the applicable Federal short-term monthly rate as determined according to Code Section 1274 (s) for the month in which the Executive’s Date of Termination occurred.
Sample 1Sample 2See All (6)
Annual Base Salary and Target Bonus Continuation. For a period of twenty-four (24) months beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the sum of (1) Executive’s then-current Annual Base Salary for the year in which the Date of Termination occurs and (2) the average of the annual incentive bonuses paid to the Executive with respect to the three fiscal years of the Company ending before the Date of Termination. Such monthly payments shall be made on the first day of each month during the payment period. Payments under any long term cash incentive plan or equity incentive plan are not part of or included in this calculation.
Sample 1
Annual Base Salary and Target Bonus Continuation. (i) If the Date of Termination of the Executive under this Section 4.1 occurs on or prior to the second anniversary of the Effective Date, then, for a period of two years, beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the Executive’s then-current Annual Base Salary for the year in which the Date of Termination occurs. Additionally, in this case, for a period of one year, beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the Executive’s then-current Target Bonus for the year in which the Date of Termination occurs. Payments under any long term cash incentive plan are not part of or included in these calculations.
Sample 1

Related to Annual Base Salary and Target Bonus Continuation

  • Annual Base Salary During the Term, the Executive shall receive a base salary at an initial rate of $550,000 per annum, which shall be paid in accordance with the customary payroll practices of the Company, subject to review annually for possible increase, but not decrease, in the Board’s discretion (the “Annual Base Salary”).

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Annual Base Compensation The Company agrees to pay the Executive during the term of this Agreement a salary at the rate of $335,000 per annum, payable in cash not less frequently than monthly.

  • 1Base Salary During the Period of Employment, the Company shall pay the Executive a base salary (the “Base Salary”), which shall be paid biweekly or in such other installments as shall be consistent with the Company’s regular payroll practices in effect from time to time. The Executive’s Base Salary shall be at an annualized rate of Seven Hundred Thousand dollars ($700,000.00). The Compensation Committee of the Board (the “Compensation Committee”) will review the Executive’s rate of Base Salary on an annual basis and may, in its sole discretion, increase (but not decrease) the rate then in effect.

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Base Salary and Incentive Compensation The Company shall pay to Executive (i) his Base Salary (as in effect as of the date of his termination) and (ii) Incentive Compensation (in an aggregate amount equal to the applicable portion of the cash Incentive Compensation received by the Executive for the most recent fiscal year prior to his termination) as follows: Years of Base Payout Service Salary Incentive Compensation Period Less than one 3 months 25% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 3 months One but less than two 6 months 50% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 6 months Two but less than three 9 months 75% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 9 months Three or More 12 months 100% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 12 months To the extent permitted under Code Section 409A, the sum of applicable Base Salary and Incentive Compensation shall be divided into equal monthly payments and paid to the Executive over the applicable Payout Period shown in the table above, depending on the Executive’s years of service at the time of Termination.

  • Base Salary The Company shall pay to Executive a base salary (“Base Salary”) of $250,000 per year, payable in accordance with the payroll policies from time to time in effect at the Company. Executive’s Base Salary may be subject to increase (but shall not be subject to decrease) on an annual basis as the Board of Directors of the Company or any committee thereof (the “Board of Directors”) shall determine.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.

  • Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.

Time is Money Join Law Insider Premium to draft better contracts faster.