Compensation and Related Matters Clause Samples
The "Compensation and Related Matters" clause defines the terms under which an individual or entity will be paid for their services or work. It typically outlines the amount, frequency, and method of payment, and may also address additional benefits, reimbursements, or bonuses. By clearly specifying these details, the clause ensures both parties understand their financial obligations and entitlements, reducing the risk of disputes over payment and related issues.
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Compensation and Related Matters. During the Term of the Executive’s employment, as compensation and consideration for the performance by the Executive of the Executive’s duties, responsibilities and covenants pursuant to this Agreement, the Company shall pay the Executive and the Executive agrees to accept in full payment for such performance the amounts and benefits set forth below.
Compensation and Related Matters. As full compensation for the Executive’s performance of his duties and responsibilities hereunder during the Term, the Company shall pay the Executive the compensation and provide the benefits set forth below and in paragraph 5 of this Agreement:
Compensation and Related Matters. During the Employment Term, Executive shall be entitled to the following compensation and benefits:
Compensation and Related Matters. Executive’s compensation for his services shall be as follows:
Compensation and Related Matters. (a) Commencing on the Effective Date and throughout the Term of employment, the Company shall pay to the Executive an annualized Base Salary at a rate of Two Hundred Ten Thousand Dollars ($210,000) per year in twenty-four equal installments at the rate of twice per month, or in such other convenient periodic payments as the Company and the Executive may mutually agree. Compensation shall be reviewed on an annual basis and shall be subject to a minimum increase in a percentage not less than that of the annual increase in the cost of living.
(b) The Company has previously granted to Executive under the Company Stock Plan incentive stock options entitling the Executive to purchase from the Company FOUR HUNDRED FIFTY THOUSAND (450,000) shares of Common Stock, at an initial exercise price of thirty two cents ($.32) per share, in accordance with Option Agreement attached as Exhibit B hereto (the “Option Agreement”). Such options shall be subject to the vesting schedule and other terms set forth in the Option Agreement.
(c) In addition to Executive’s Base Salary, Executive shall be entitled to participate in any bonus and other benefit plans that the Company provides or may establish for the benefit of its senior executives, including, without limitation, the Management Incentive Plan the terms of which will be determined by the Company, with the approval of the Executive, within 90 days of the Effective Date. The Management Incentive Plan will provide for an annualized target bonus for the Executive of not less than Fifty Thousand Dollars ($50,000) payable semiannually for each year of Executive’s employment with the Company if the goals and objectives agreed between the Company and the Executive in connection with the finalization of the Management Incentive Plan are met or exceeded.
(d) During the Term, the Company shall provide Executive with the same insurance and other benefits that the Company makes available to its other employees in accordance with the policies and procedures presently established by the Company or as may be changed from time to time.
(e) During the Term, the Executive shall be entitled to receive prompt reimbursement for all reasonable expenses incurred by the Executive in performing services hereunder, including all business travel and living expenses while away from home on business or at the request of and in the service of the Company; provided, that such expenses are incurred and accounted for in accordance with the policies and pr...
Compensation and Related Matters. For services rendered by the Executive hereunder during the Term, the Executive shall be compensated as follows:
Compensation and Related Matters. During the Term:
Compensation and Related Matters. This Section 2 sets forth the compensation and benefits to be provided to the Executive during the Term.
Compensation and Related Matters. The Company shall provide the Employee with the compensation and benefits set forth in this Section 3 during the Term. Authority to take action under this Section 3 with respect to the Employee’s compensation and benefits may be delegated by the Board to its compensation committee and/or the CEO.
Compensation and Related Matters. As compensation and consideration for the performance by Executive of his obligations pursuant to this Agreement, Executive shall be entitled to the following: