Compensation and Benefits During the Employment Term Sample Clauses

Compensation and Benefits During the Employment Term. (a) The Executive's base compensation shall be at the rate of $5,000 per month, for the term of this Agreement, payable in regular semi-monthly installments in accordance with the Company's practice for its executives, less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Company's Directors at their sole discretion.
Sample 1Sample 2See All (6)
AutoNDA by SimpleDocs
Compensation and Benefits During the Employment Term. (a) SALARY. Commencing upon the date of this Agreement, Executive will be paid the first year an annual base salary of $126,000, the second year an annual base salary of $138,000, the third year an annual base salary of $150,000, payable in accordance with the then current payroll policies of Company or as otherwise agreed to by the parties (the "Salary"). At any time and from time to time the Salary may be increased for the remaining portion of the term if so determined by the Board of Directors of Company after a review of Executive's performance of his duties hereunder. Executive will not be entitled to receive sales commissions.
Sample 1Sample 2See All (4)
Compensation and Benefits During the Employment Term. The Executive’s base compensation shall be at the rate of $10,000 per month, for the term of this Agreement, payable in regular semi-monthly installments in accordance with the Company’s practice for its executives. At the election of the Executive, his compensation may be payable in shares of the Company’s common stock, registered on Form S-8 under the Securities Act of 1933 or such other form as may be appropriate, or at the election of the Executive pursuant to an exemption from registration under the Act. Cash compensation shall be less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Company’s board of directors at its sole discretion. Any unpaid balance during the year shall be adjusted and paid on or before each fiscal year end. - In addition to the Executive’s base compensation, Executive will be entitled to a bonus as determined by the Company’s board of directors from time to time. In addition, in the event of a change in control of the Company, resulting in Executive ceasing to serve as the Company’s Chief Executive Officer, President and Chairman, Executive shall be entitled to receive and the Company shall pay to Executive within ninety (90) days of the change in control a sum equal to five (5) years of the base salary then payable to Executive under this Employment Agreement, and issue to Executive the shares underlying the common stock purchase warrants provided in 4(d) below, based upon and adjusted exercise price equal to par value of the shares at the date of the change in control. - The Executive shall be entitled to reimbursement of all reasonable, ordinary and necessary business related expenses incurred by him in the course of his duties and upon compliance with the Company’s procedures. - The Executive shall be granted common stock purchase warrants, exercisable on a cashless basis, for 144,000 shares per annum commencing on March 30, 2007 and on each consecutive Xxxxx 00 xx for a period of five (5) years, based upon an exercise price of $7.00 per share. The warrants will provide for an expiration date two (2) years following each annual grant, as set forth in the warrant agreement that will be attached to this employment agreement. - The Company hereby ratifies the grant to Executive of common stock purchase options to purchase 50,000 shares of common stock heretofore...
Sample 1See All (4)
Compensation and Benefits During the Employment Term. (a) SALARY. Commencing upon the date of this Agreement, Executive will be paid a base salary of $30,000 the first year, $70,000 the second year and $120,000 for years three through five. At any time and from time-to-time the base salary may be increased for the remaining portion of the term if so determined by the Board of Directors of the Company after a review of Executive's performance of his duties hereunder. Executive will not be entitled to receive sales commissions.
Sample 1Sample 2Sample 3
Compensation and Benefits During the Employment Term. The Executive shall be entitled to the following compensation and benefits:
Sample 1Sample 2
Compensation and Benefits During the Employment Term a. The Executive's base compensation shall be at the rate of $10,000 per month, for the term of this Agreement, payable in regular semi-monthly installments in accordance with the Company's practice for its executives. At the election of the Executive, his compensation may be payable in shares of the Company's common stock, registered on Form S-8 under the Securities Act of 1933 or such other form as may be appropriate, or at the election of the Executive pursuant to an exemption from registration under the Act. Cash compensation shall be less applicable withholding for income and employment taxes as required by law and other deductions as to which the Executive shall agree. Such base compensation shall be subject to increases as and when determined by the Company's board of directors at its sole discretion. Any unpaid balance during the year shall be adjusted and paid on or before each fiscal year end.
Sample 1
Compensation and Benefits During the Employment Term. The Executive’s base compensation shall be at the rate of $750 per month, for the term of this Employment Agreement, payable in regular semi-monthly installments. In addition to the Executive’s base compensation, Executive will be entitled to a bonus as determined by the Company’s board of directors from time to time, if and when declared by the board of directors. The Executive shall be entitled to reimbursement of all reasonable, ordinary and necessary business related expenses incurred by him in the course of his duties and upon compliance with the Company’s procedures. The Executive shall also be granted common stock purchase warrants, exercisable on a cashless basis, for 7,000,000 shares of common stock (the "Options"), pursuant to an employee stock option plan to be adopted by the Company's board of directors (the "ESOP"). The Parties understand that the Options shall be subject to certain vesting provisions and such other terms and conditions as shall be contained in the ESOP.
Sample 1
AutoNDA by SimpleDocs
Compensation and Benefits During the Employment Term 
Sample 1Sample 2Sample 3See All (77)

Related to Compensation and Benefits During the Employment Term

  • Compensation and Benefits Upon Termination (a) If Executive’s employment is terminated by reason of death or Disability, the Company shall pay Executive’s Base Salary, at the rate then in effect, in accordance with the payroll policies of the Company, through the date of such termination (in the event of Executive’s death, the payments will be made to Executive’s beneficiaries or legal representatives) and Executive shall not be entitled to any further Base Salary or any applicable bonus, benefits or other compensation for that year or any future year, except as may be provided in Sections 5(d) or (e) below or an applicable benefit plan or program, or to any severance compensation of any kind, nature or amount.

  • Employment Termination This Agreement and the employment of the Executive shall terminate upon the occurrence of any of the following:

  • Term of Employment; Termination (a) The “

  • Compensation Upon Termination of Employment If the Executive’s employment hereunder is terminated, in accordance with the provisions of Article III hereof, and except for any other rights or benefits specifically provided for herein to be effective following the Executive’s period of employment, the Company will provide compensation and benefits to the Executive only as follows:

  • Severance Compensation upon Termination of Employment If the Company shall terminate the Executive’s employment other than pursuant to Section 5(a), (b) or (c) or if the Executive shall terminate his employment for Good Reason, then the Company shall pay to the Executive as severance pay in a lump sum, in cash, on the fifth day following the Date of Termination, an amount equal to three (3) times the average of the aggregate annual compensation paid to the Executive during the three (3) fiscal years of the Company immediately preceding the Change of Control by the Company subject to United States income taxes (or, such fewer number of fiscal years if the Executive has not been employed by the Company during each of the preceding three (3) fiscal years).

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Compensation and Benefits As compensation for all services performed by the Executive under and during the term hereof and subject to performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise:

  • Early Termination of the Employment Period Notwithstanding Section 1(b) hereof, the Employment Period shall end upon the earliest to occur of (i) a Termination For Cause, (ii) a Termination Without Cause, (iii) a Voluntary Termination, (iv) a Termination Due to Retirement, (v) a Termination Due to Disability, or (vi) a Termination Due to Death.

  • Term of Employment and Termination The Company and Executive acknowledge that Executive's employment is and shall continue to be at-will, as defined under applicable law, and that Executive's employment with the Company may be terminated by either Party at any time for any or no reason (subject to the notice requirements of this Section 4). This "at-will" nature of Executive's employment shall remain unchanged during Executive's tenure as an employee and may not be changed, except in an express writing signed by Executive and a duly authorized officer of the Company. The term of this Agreement and Executive’s employment hereunder shall commence on the Effective Date and continue until terminated as set forth in this Section 4. The date on which Executive’s employment terminates, as determined by the Company, regardless of the reason, shall be referred to herein as the “Separation Date.” Upon termination of Executive's employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.

  • Benefits Upon Termination of Employment If the Executive is entitled to benefits pursuant to this Section 2, the Company agrees to pay or provide to the Executive as severance payment, the following:

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