Basic Salary Bonus Clause Samples

Basic Salary Bonus. 6.1 The Company shall pay Employee, as compensation for all of the services to be rendered by him hereunder during each Employment Year, a salary of $250,000 per Employment Year (as adjusted upward by the Board from time to time) (the "Basic Salary"), payable in substantially equal bi-weekly payments, less such deductions or amounts as are required to be deducted or withheld by applicable laws or regulations, deductions for employee contributions to welfare benefits provided by the Company or a Subsidiary to Employee and less such other deductions or amounts, if any, as are authorized by Employee. Unless otherwise agreed by Employee and the Board, the Basic Salary should be increased by five percent (5%) per Employment Year during the Term from the Base Salary in effect during the immediately preceding full Employment Year. The Basic Salary shall be prorated for the month in which employment by the Company or a Subsidiary commences or terminates, and for any Employment Year which is less than 12 months in duration. The Basic Salary may be increased from time-to-time by the Board (without Employee's participation as a director) and once increased, shall not thereafter be reduced. 6.2 Employee will be paid cash bonuses at the discretion of the Board (without Employee's participation as a director) in accordance with the bonus plan attached as Exhibit B hereto (the "Bonus").