CEO Compensation Sample Clauses

CEO Compensation. Purely for administrative purposes including employee benefits and payroll taxes, the CEO shall enter into the CEO Employment Agreement with the AOG and shall be deemed an employee of the AOG. He/she will work for the benefit of and will devote approximately equal time to both organizations. The Endowment shall agree to reimburse the AOG for one half of the cost of all the CEO’s compensation and employee benefits and of the employer portion of all applicable payroll taxes. Such reimbursement may be made in accordance with a shared services and shared facilities agreement to be negotiated between the AOG and the Endowment. (According to Labor Law, the CEO has to work for one organization.)
Sample 1
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CEO Compensation. Mr. Xxxxxx'x xxxual base salary of $280,000 was established by the Committee in September 1999 with consideration of base salaries paid to chief executive officers of comparable companies and in recognition of the challenges he faced with regard to leading the Company's business. During fiscal 2000, Mr. Xxxxxx'x xxxual base salary remained at $280,000. The Committee approved the bonus paid to the CEO as a retention device to reflect the extraordinary circumstances of the Company over the past several years. The annual base salary for Mr. Xxxxxxx, xxe Company's President and Chief Executive Officer until July 1999 and Chief Executive Officer until September 1999, was determined by the Committee based on Mr. Xxxxxxx'x xxxformance in 1998, his substantial experience as chief executive of another public medical device company in the cardiovascular field, and in recognition of the challenges he faced with regard to leading the Company's business. TAX LIMITATION Under the Federal tax laws, a publicly-held company such as the Company is not allowed a Federal income tax deduction for compensation paid to certain executive officers to the extent that compensation exceeds $1 million per officer in any year. In order to qualify option grants under the Company's 1996 Stock Option Plan ("1996 Plan") for an exemption available to performance-based compensation, the stockholders have approved certain provisions of the 1996 Plan, including a limit on the maximum number of shares of common stock for which any one participant may be granted stock options each calendar year over the term of the 1996 Plan. Accordingly, any compensation deemed paid to an executive officer when he exercises an outstanding option under the 1996 Plan with an exercise price equal to the fair market value of the option shares on the grant date will qualify as performance-based compensation that will not be subject to the $1 million limitation. The Committee will not limit the dollar amount of the cash compensation payable to the Company's executive officers to the $1 million limit. Compensation Committee: John X. Xxxxxxx, X.D. Josexx Xxxxx
Sample 1
CEO Compensation. Mr. Xxxxxx'x xxxual base salary of $280,000 was established by the Committee in September 1999 with consideration of base salaries paid to chief executive officers of comparable companies and in recognition of the challenges he faced with regard to leading the Company's business. During fiscal 2000, Mr. Xxxxxx'x xxxual base salary remained at $280,000. The Committee approved the bonus paid to the CEO as a retention device to reflect the extraordinary circumstances of the Company over the past several years.
Sample 1
CEO Compensation. Should Employee become Company CEO, as contemplated by this Agreement: (i) Employee shall be given a seat on the Company's Board of Directors; and (ii) Employee's compensation shall be adjusted to the amounts set forth in Section 2.a. above. Further, in such event Employee shall be granted an additional option to acquire an additional two hundred fifty thousand (250,000) shares of the Company's common stock at a strike price of fifty cents ($.50) per share, further subject to the Stock Option Agreement annexed as part of Schedule 1 hereto. Such additional options will thereafter vest at the rate of sixty-two thousand five hundred (62,500) shares per year (upon each annual anniversary of the date of Employee's promotion to CEO).
Sample 1
CEO Compensation. 13 SECTION 5.14 Performance of Contracts . . . . . . . . . . . . . . 14 SECTION 5.15 Vesting of Reserved Employee Shares . . . . . . . . . 14 SECTION 5.16 Employee Non-disclosure and Developments Agreements . 14 SECTION 5.17
Sample 1
CEO Compensation. The Chief Executive Officer's annual compensation will initially be $140,000 with a bonus amount of $40,000 based on performance of the business compared to plan objectives.
Sample 1
CEO Compensation. The Shareholders agree that for a period of at least two years from the date hereof they shall not initiate a shareholder vote, and in the event of such vote, shall vote AGAINST any change in the compensation of the CEO as such exists on the date hereof and reflected in the Company's Form 20-F for calendar year 2006. For such purpose, the Shareholders agree to vote FOR maintaining the CEO compensation of Shaked at its current amounts and terms despite the fact that the CEO shall no longer be Chairman.
Sample 1
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CEO Compensation. As of the Effective Date, all prior compensation arrangements for the Executive are replaced with the following:
Sample 1

Related to CEO Compensation

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Consulting Compensation In consideration for the services to be provided by the Consultant pursuant to Section 1, above, the Consultant shall be compensated as follows:

  • Severance Compensation In the event (i) Employee terminates this Agreement for Good Reason in accordance with Paragraph 11.3 hereof; (ii) Employee is terminated for any reason (except death or disability) upon, or within six months following, a "Change in Management or Control (as such term is defined in Paragraph 11.5 hereof);" or (iii) Employee is terminated without Cause, the Company shall be obligated to pay severance compensation to Employee in an amount equal to his salary compensation (at the rate payable at the time of such termination) for a period of six (6) months from the date of termination. Notwithstanding the foregoing, if Employee is employed by a new employer, or as a consultant after the termination of this Agreement, the severance compensation payable to Employee hereunder shall be reduced by the amount of compensation that Employee actually receives from the new employer, or as a consultant. However, Employee shall have a duty to inform the Company that he has obtained such new employment, and the failure to do so is a material breach of this Agreement. In such event, the Company shall be entitled to (i) cease all payments to Employee under this Paragraph 11.4; and (ii) recover any unauthorized payments to Employee in an action for breach of contract. Notwithstanding anything else in this Agreement to the contrary, solely in the event of a termination upon or following a Change in Management or Control, the amount of severance compensation paid to Employee hereunder shall not include any amount that the Company is prohibited from deducting for federal income tax purposes by virtue of Section 280G of the Internal Revenue Code of 1986, as amended, or any successor provision. In addition to the foregoing severance compensation, the Company shall pay Employee (i) all compensation for services rendered hereunder and not previously paid; (ii) accrued vacation pay; and (iii) any appropriate business expenses incurred by Employee in connection with his duties hereunder and approved pursuant to Section 4 hereof, all through the date of termination. Employee shall not be entitled to any bonus compensation, whether vested or unvested; or any other compensation, benefits or reimbursement of any kind.

  • 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.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Employee Compensation The wages, salaries and other compensation paid to employees who will be employed for the benefit of the Project, and to others who perform special services for the benefit of the Project, to the extent not otherwise paid through a Cash Management System, shall be paid by Owner from a Project Account pursuant to this Section 9.2.

  • No Compensation Except as provided in this Section 7.4 and elsewhere in this Agreement (including the provisions of Articles V and VI hereof regarding distributions, payments and allocations to which it may be entitled), the General Partner shall not be compensated for its services as general partner of the Partnership.

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

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