Common use of Compensation, Compensation Plans, Perquisites Clause in Contracts

Compensation, Compensation Plans, Perquisites. Upon execution of this Agreement and for all services rendered by Executive in any capacity during the Period of Employment, including, without limitation, services as an executive, officer, director or member of any committee of the Company or of any subsidiary, division or affiliate thereof, effective January 1, 2002, Executive shall be paid as compensation a base annual salary of $240,000, payable in equal monthly payments of $20,000, together with annual increases, in no event less than ten (10%) per cent per annum, and together with such increases as shall be awarded by the Company from time to time effective in accordance with the Company's regular administrative practices of other salary and bonuses applicable to executives of the Company (such as attendance fees for Board of Directors meetings) in effect from time to time, together with incentive awards or bonuses provided for herein, if any, and such annual short-term and long-term incentive awards and bonuses, including qualified and non-qualified stock options, provided for under any compensation plan, or any successor compensation plan in effect as of the date of this Agreement or that may be adopted by the Company during any period of employment, or as may be awarded from time to time by the Board of Directors of the Company or a duly authorized committee thereof in its sole discretion. Any increase in salary or in annual incentive award or other compensation, including stock options, paid or payable to Executive shall in no way diminish any other obligation of the Company under this Agreement. Nothing in this Agreement shall preclude other benefits awarded in accordance with the Company policy and improvement of reward opportunities in such plans or other plans in accordance with the practice of the Company on or after the date of this Agreement. Any provision of the Company's Additional Compensation Plan (or any successor plan) to the contrary notwithstanding, any Awards due to Executive before, or made to Executive on account of, or following a Change in Control of the Company, that occurs during the Period of Employment (whether for services rendered prior to or after such Change in Control) shall be paid wholly in cash within ninety (90) days after the awards are made.

Compensation, Compensation Plans, Perquisites. Upon execution of this Agreement and for all services rendered by Executive in any capacity during the Period of Employment, including, without limitation, services as an executive, officer, director or member of any committee of the Company or of any subsidiary, division or affiliate thereof, effective January 1, 20022012, Executive shall be paid as compensation a base annual salary of $240,000, payable in equal monthly payments of $20,000, together with annual increases, in no event less than ten (10%) per cent per annum, and together with such increases as shall be awarded by the Company from time to time effective in accordance with the Company's regular administrative practices of other salary and bonuses applicable to executives of the Company (such as attendance fees for Board of Directors meetings) in effect from time to time, together with incentive awards or bonuses provided for herein, if any, and such annual short-term and long-term incentive awards and bonuses, including qualified and non-qualified stock options, provided for under any compensation plan, or any successor compensation plan in effect as of the date of this Agreement or that may be adopted by the Company during any period of employment, or as may be awarded from time to time by the Board of Directors of the Company or a duly authorized committee thereof in its sole discretion. Any increase in salary or in annual incentive award or other compensation, including stock options, paid or payable to Executive shall in no way diminish any other obligation of the Company under this Agreement. Nothing in this Agreement shall preclude other benefits awarded in accordance with the Company policy and improvement of reward opportunities in such plans or other plans in accordance with the practice of the Company on or after the date of this Agreement. Any provision of the Company's Additional Compensation Plan (or any successor plan) to the contrary notwithstanding, any Awards due to Executive before, or made to Executive on account of, or following a Change in Control of the Company, that occurs during the Period of Employment (whether for services rendered prior to or after such Change in Control) shall be paid wholly in cash within ninety (90) days after the awards are made.

Compensation, Compensation Plans, Perquisites. Upon execution of this Agreement and for all services rendered by Executive "Executive" in any capacity during the Period of Employment, including, without limitation, services as an executive, officer, director or member of any committee of the Company "Company" or of any subsidiary, division or affiliate thereof, effective January 1, 20021999, Executive "Executive" shall be paid as compensation a base annual salary of One Hundred Eighty ($240,000180,000.00) Thousand Dollars, payable in advance in equal monthly payments of $20,000Fifteen Thousand Dollars, together with annual increases, in no event less than ten (10%) per cent per annum, and together with such increases as shall be awarded by the Company "Company" from time to time effective in accordance with the "Company's 's" regular administrative practices of other salary and bonuses applicable to executives of the Company "Company" (such as attendance fees for Board of Directors meetings) in effect from time to time, together with incentive awards or bonuses provided for herein, if any, and such annual short-term and long-term incentive awards and bonuses, including qualified and non-qualified stock options, provided for under any compensation plan, or any successor compensation plan in effect as of the date of this Agreement or that may be adopted by the Company "Company" during any period of employment, or as may be awarded from time to time by the Board of Directors of the Company "Company" or a duly authorized committee thereof in its sole discretion. Any increase in salary or in annual incentive award or other compensation, including stock options, paid or payable to Executive "Executive" shall in no way diminish any other obligation of the Company "Company" under this Agreement. Nothing in this Agreement shall preclude other benefits awarded in accordance with the Company "Company" policy and improvement of reward opportunities in such plans or other plans in accordance with the practice of the Company "Company" on or after the date of this Agreement. Any provision of the "Company"'s Additional Compensation Plan (or any successor plan) to the contrary notwithstanding, any Awards due to Executive "Executive" before, or made to Executive "Executive" on account of, or following a Change in Control of the "Company", that occurs during the Period of Employment (whether for services rendered prior to or after such Change in Control) shall be paid wholly in cash within ninety (90) days after the awards are made.

Compensation, Compensation Plans, Perquisites. Upon execution of this Agreement and for all services rendered by Executive in any capacity during the Period of Employment, including, without limitation, services as an executive, officer, director or member of any committee of the Company or of any subsidiary, division or affiliate thereof, effective January 1May 10, 20022006, Executive shall be paid as compensation a base annual salary of $240,0000. This will continue through January 2007. Beginning in February 2007, R & X Xxxx, Inc. shall be paid as compensation a base annual salary of $30,000, payable in equal monthly payments of $20,000, together with annual increases, in no event less than ten (10%) per cent per annum2,500, and together with such increases as shall be awarded by the Company from time to time effective in accordance with the Company's regular administrative practices of other salary and bonuses applicable to executives of the Company (such as attendance fees for Board of Directors meetings) in effect from time to time, together with incentive awards or bonuses provided for herein, if any, and such annual short-term and long-term incentive awards and bonuses, including qualified and non-qualified stock options, provided for under any compensation plan, or any successor compensation plan in effect as of the date of this Agreement or that may be adopted by the Company during any period of employment, or as may be awarded from time to time by the Board of Directors of the Company or a duly authorized committee thereof in its sole discretion. Any increase in salary or in annual incentive award or other compensation, including stock options, paid or payable to Executive shall in no way diminish any other obligation of the Company under this Agreement. Nothing in this Agreement shall preclude other benefits awarded in accordance with [Xxx: I don’t think the Company policy and improvement of reward opportunities in such plans or other plans in accordance with the practice of the Company on or after the date of this Agreement. Any provision of the Company's Additional Compensation Plan (or any successor plan) to the contrary notwithstanding, any Awards due to Executive before, or made to Executive on account of, or following a Change in Control of the Company, that occurs during exists] During the Period of Employment Executive there will be no benefits provided. R & X Xxxx, Inc. will furnish office space for STIV at no monthly charge. During the time the Company is subject to the Investment Company Act of 1940, as amended, no compensation of any form whatsoever (whether for services rendered prior to or after such Change in Controlincluding grants of stock options) shall be granted or paid wholly in cash within ninety (90) days after the awards are madeviolation of such Act, and any provisions of this Agreement in violation of such Act shall be deemed null and void.