Base Salary and Guaranteed Cash Bonus Sample Clauses

Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $150,000 payable in cash in accordance with the Company's usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the compensation committee of the Company's board (the "Committee"); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments, starting with the quarterly installment for and payable in the first quarter of 2008. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year. Notwithstanding the foregoing, the guaranteed annual cash bonus for 2007 shall be equal to 25% (or such higher percentage, if any, that the Committee may determine) of the annual base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than December 31, 2007.
Sample 1Sample 2See All (4)
AutoNDA by SimpleDocs
Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $180,000 payable in cash in accordance with the Company’s usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the Committee (as defined herein); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. “Committee” means the Compensation Committee of the Board, or, if the Company does not then have a Compensation Committee, the Board. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments, starting with the quarterly installment for and payable in the second quarter of 2009. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year. Notwithstanding the foregoing: (i) the guaranteed annual cash bonus for 2008 shall be equal to 25% (or such higher percentage, if any, that the Committee may determine) of the annual base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than 60 days after the Effective Date; (ii) a guaranteed bonus for the first quarter of 2009 equal to 25% (or such higher percentage, if any, that the Committee may determine) of the quarterly base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than 90 days after the Effective Date; and (iii) the guaranteed bonus for the second quarter of 2009 shall be payable no later than 120 days after the Effective Date.
Sample 1
Base Salary and Guaranteed Cash Bonus. The Company will pay to Consultant during the Term a fee at the initial annual rate of $150,000.00 per year payable in cash on the 1st and 15th of each month. The fee shall be determined, at least, on an annual basis by the Committee (as defined herein); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. “Committee” means the Compensation Committee of the Board, or, if the Company does not then have a Compensation Committee, the Board. (B) DOWN LINES. Consultant shall also be entitled to the following:
Sample 1
Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $180,000 payable in cash in accordance with the Company’s usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the Committee (as defined herein); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. “Committee” means the Compensation Committee of the Board, or, if the Company does not then have a Compensation Committee, the Board. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year.
Sample 1

Related to Base Salary and Guaranteed Cash Bonus

  • 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.

  • Base Salary During the Employment Term, the Company shall pay Executive a base salary at the annual rate of $250,000, payable in regular installments in accordance with the Company's usual payment practices. Executive shall be entitled to such increases in Executive's base salary, if any, as may be determined from time to time in the sole discretion of the Board. Executive's annual rate of base salary, as in effect from time to time, is hereinafter referred to as the "Base Salary."

  • 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”):

  • Salary and Bonus ii. Awards of stock, stock options, and stock appreciation rights. Use the dollar amount recognized for financial statement reporting purposes with respect to the fiscal year in accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) (FAS 123R), Shared Based Payments.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • 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”).

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365);

  • 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.