Compensation Benefits Etc Sample Clauses

Compensation Benefits Etc. Subject to Section 3(d)(i):
Compensation Benefits Etc. UPON, AND EFFECTS OF, TERMINATION.
Compensation Benefits Etc a)Compensation as Consultant. Effective on the Transition Date, Green’s compensation as a consultant (“Consulting Compensation”) shall be $406,000 for the 12-month period beginning on the Transition Date and ending on April 30, 2020, which amount may be reviewed and increased at the discretion of the Board or any committee of the Board duly authorized to take such action. The Consulting Compensation shall be payable in equal monthly installments on the 15th day of each month during the Consulting Term (with the final payment to be made on April 15, 2020). During the Consulting Term, Green agrees to pay all taxes due on amounts paid to him for services as a consultant and is solely responsible for timely remittance to appropriate authorities of all federal, state, and local taxes and changes incident to the payment of compensation for such consulting services. Without limitation, the parties hereto agree that the Company shall not be responsible for, nor withhold, any taxes, assessments, or other fees incurred by or on behalf of Green with respect to his consulting services, including federal, state, and local withholding taxes. (b)Employee Benefit Plans; COBRA. (1)Until the Transition Date, Green shall continue his participation in the employee benefit plans, programs, and policies maintained by the Company in accordance with the terms and conditions to participate in such plans, programs, and policies as in effect from time to time. (2)Upon and after the Transition Date, Green shall no longer be eligible to participate in the employee benefit plans, programs, and policies maintained by the Company, other than through continuation coverage opportunities afforded under the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended (“COBRA”). (3)During the Consulting Term, if Green timely elects to continue coverage under the Company’s group health plan pursuant to COBRA, then, on behalf of Green, the Company shall pay (on a monthly basis) the medical COBRA premiums of Green in the same percentage as the Company pays the premiums for active employees under the Company group health insurance plan; provided, however, that this obligation of the Company shall cease on the earlier of (A) the date when Green is no longer eligible for COBRA upon his being eligible for Medicare, (B) the date that Green is eligible to be covered under another substantially equivalent group health insurance plan provided by a subsequent employer, or (C) the date that Green is...
Compensation Benefits Etc. During the Employment Period, the Executive shall be compensated as follows:
Compensation Benefits Etc a)Annual Base Salary. Executive’s base salary shall be $285,000 per year, which amount may be reviewed and increased from time to time at the discretion of the Board or any committee of the Board duly authorized to take such action. Executive’s base salary shall be payable in accordance with the Company’s standard payroll practices and policies for executives and shall be subject to such withholdings as are required by law or as are otherwise permissible under such practices or policies. (b)Annual Bonus. The Company shall pay an annual bonus for a fiscal year to Executive no later than 2½ months after the close of such fiscal year, in the amount, and subject to the terms and conditions of, the Company’s Management Cash Incentive Program (or any predecessor or successor cash incentive plan thereto), which may be reviewed at the discretion of the Board or any committee of the Board duly authorized to take such action. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding; provided, however, that Executive’s target annual bonus amount shall not be reduced to an amount below 40% of Executive’s then-current base salary. (c)Employee Benefit Plans. Executive shall be eligible to participate, on terms no less favorable to Executive than the terms for participation of any other executive of the Company at the same level within the Company as Executive, in the employee benefit plans, programs and policies maintained by the Company in accordance with the terms and conditions to participate in such plans, programs and policies as in effect from time to time. (d)Equity Awards. Executive shall receive Equity awards at the discretion of the Board, subject to the terms and conditions set forth in the applicable ISP and any corresponding notice, agreement or certificate under the ISP. (e)Acceleration of Vesting of Equity. The following terms shall apply to all of Executive’s Equity outstanding as of the Effective Date, and to all future grants of Equity:
Compensation Benefits Etc 

Related to Compensation Benefits Etc

Termination Compensation If Employee's employment hereunder is terminated pursuant to Sections 7(a) or 7(e) of this Agreement, the Company shall pay the Employee his full base salary through the termination date, plus, within five (5) business days of the termination date, any bonuses, incentive compensation, or other payments due which pursuant to the terms of any compensation or benefit plan have been earned or vested as of the termination date. If Employee's employment is terminated by the Company under Section 7(c) without cause, or if there is a change in control of the Company as defined Section 7(d), all unexercised options granted to Employee under the Company's Incentive Stock Plan or Amended Incentive Stock Plan shall accelerate and shall immediately vest. If Employee's employment is terminated pursuant to Sections 7(b), 7(c) or 7(d) of this Agreement, the Company shall pay the Employee the following: