Compensation and Other Benefits Clause Samples

Compensation and Other Benefits. As compensation for the services to be rendered hereunder, during the Term the Company shall pay to the Executive the salary and bonuses, and shall provide the benefits, as set forth in this Section 2.

Compensation and Other Benefits. As compensation in full for the services to be rendered by Executive hereunder, the Company shall pay, and Executive shall accept, the following compensation:

Compensation and Other Benefits. Subject to the provisions of this Agreement, the Company shall pay and provide the following compensation and other benefits to the Executive during the Term as compensation for services rendered hereunder:

Compensation and Other Benefits. The Company shall provide the following compensation and other benefits to Executive during the Term in consideration of Executive’s performance of all of his obligations under this Agreement:

Compensation and Other Benefits. Subject to the provisions of this Agreement, including, without limitation, the termination provisions contained in Section 4, the Company shall pay and provide the following compensation and other benefits to the Officer as compensation for all services rendered hereunder:

Compensation and Other Benefits. (a) During the Service Period, Executive shall be paid by the Company an annual base salary in an amount equal to One Hundred Eighty Thousand Dollars ($180,000) (the “Base Salary”), payable in accordance with the Company’s normal payroll practices. The Base Salary shall be reviewed by the Compensation Committee of the Board of Parent no less often than once each calendar year and may be increased, but not decreased, based on such a review. (b) Executive shall be eligible to receive, in addition to the Base Salary described above, an annual bonus payment (a “Performance Bonus”) in an amount up to Sixty Three Thousand Dollars ($63,000) for such year (a “Performance Bonus Amount”) to be determined by December 31, 2009, and thereafter, the last day of each calendar year during the Service Period, or as soon thereafter as practicable, but in no event later than March 15 of the subsequent calendar year, as follows: (i) Executive shall be eligible to receive a bonus payment in an amount up to 75% of the Performance Bonus Amount, which bonus payment, if any, shall be determined in the sole discretion of the SVP-CFO of the LIN Companies and the Compensation Committee, based upon such factors as each may determine to be relevant, which may include the performance of the LIN Companies and Executive, general business conditions, and the relative achievement by Executive or the LIN Companies of any goals established by the SVP-CFO, the Board of Parent or the Compensation Committee. (ii) Executive shall be eligible to receive a bonus payment calculated as set forth in this paragraph (ii) using a baseline bonus amount equal to twenty-five percent (25%) of the Performance Bonus Amount (the “Results Bonus Base Amount”). The amount of the bonus awarded to Executive, if any, under this paragraph (ii) (the “Results Bonus”) shall be an amount calculated as a percentage of the Results Bonus Base Amount (the “Results Bonus Percentage”). The Results Bonus Percentage shall be the percentage set forth on Schedule 5(b)(ii)(A) hereto that corresponds to the respective percentages by which Parent has achieved the EBITDA and revenue targets established by the Board of Parent for the applicable year, as determined by the Compensation Committee of the Board of Parent (the “Budget Target”). The parties acknowledge and agree that for convenience of reference Schedule 5(b)(ii)(B) shows for illustrative purposes the amount of the Results Bonus corresponding to each Results Bonus Percentage r...

Compensation and Other Benefits. Executive shall be entitled to receive from the Partnership the following compensation and benefits for the services to be rendered by Executive hereunder:

Compensation and Other Benefits. (a) As compensation for his services hereunder, the Company shall pay Employee, during the Employment Period, a base salary payable in equal semi-monthly installments at an annual rate of $600,000, provided that such salary shall be reviewed annually by the Company's Board, or a committee thereof, which may, in its sole discretion, increase (but not decrease) such salary. (b) The Company shall also pay Employee, during the Employment Period, an annual target bonus, payable in January of each year for the preceding year, in an amount equal to forty-five percent (45%) of Employee's base salary (payable under Section 3(a) of this Agreement) measured against objective criteria to be determined by the Company's Board, or a committee thereof, after good faith consultation with Employee. (c) Employee shall be entitled to continue to participate in all group health and insurance programs and all other fringe benefit or retirement plans which the Company may, in its sole and absolute discretion, elect to make available to its employees generally, provided Employee meets the qualifications therefor. (d) Employee shall be eligible to participate in the Company's 1998 Long- Term Incentive Plan (the "Plan") and any other incentive plans of the Company. Upon the Employee's Disability (as defined in the Plan), termination of employment with the Company due to Retirement (as defined in the Plan) or death, Employee (or the legal representative of his estate, in the case of Employee's death) shall be entitled to: (i) full vesting and immediate exercisability of any outstanding stock options and other equity awards (and lapse of any forfeiture provisions) granted to Employee at any time; and (ii) with respect to stock options granted to Employee on or after January 1, 2000, Employee (or the legal representative of his estate, in the case of Employee's death) shall be entitled to exercise such stock options at any time during the three (3) year period from the date of Employee's Disability, Retirement or death. (e) Employee shall be entitled to paid vacation in accordance with the Company's policy applicable to senior executives, but in no event less than four (4) weeks per calendar year. (f) Without limiting the generality of Section 3(c), the Company shall pay or reimburse Employee for the reasonable expenses incurred by the Employee in connection with obtaining professional tax and financial planning advice, up to a maximum of $7,500 in any calendar year during the Employm...

Compensation and Other Benefits. The Executive’s compensation during the Employment Period shall be determined by the Board upon recommendation of the committee of the Board having responsibility for approving the compensation of senior executives, subject to the provisions below: