Compensation During Term of Employment Sample Clauses

Compensation During Term of Employment. 4.1 In the event of a Change in Control, the Company shall pay or cause to be paid to Employee during the Term of Employment such salary and incentive bonus compensation as may be determined by the Board of Directors of the Company, paid in accordance with the Company's normal payroll practices; provided that in no event shall Employee's salary in any year of the Term of Employment be less than the annual level thereof immediately prior to the date of such Change in Control, and incentive bonus compensation in any year of the Term of Employment shall be no less than the average annual incentive bonus compensation paid by the Company to the employee during the three (3) fiscal years ending prior to the Change in Control.
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Compensation During Term of Employment. Employee will be provided with the following salary, expense reimbursement and additional employee benefits during the Term of employment hereunder:
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Compensation During Term of Employment. As compensation for Employee's services hereunder during the Term of Employment, and in consideration of Employee's agreement contained herein, Employer shall pay Employee an annual base salary of $165,000.00 paid in accordance with Employer's normal pay schedules on a semi-monthly basis, with appropriate taxes and withholdings deducted therefrom as required of or by Employer. In addition, Employee shall receive a bonus ("EBITDA Bonus") each calendar year based on the earnings before federal income taxes, any state taxes based on income or receipts, depreciation and amortization of the Employer ("EBITDA"). If EBITDA in any calendar year during the term of this Agreement is five percent (5.0%) or more but less than ten percent (10%) of the gross revenues of the Employer for such calendar year, Employer shall pay Employee a bonus equal to ten percent (10.0%) of Employee's base salary for such calendar year and if EBITDA for any calendar year during the term of this Agreement is equal to or more than ten percent (10%) of gross revenues of the Employer for such calendar year, Employer shall pay Employee a bonus equal to twenty percent (20%) of Employee's base salary for such calendar year. Such cash bonuses, if any, will be paid prior to March 31 of the year following each calendar year during the term of this Agreement. Notwithstanding the above, Employee shall only be entitled to such cash bonus if he is employed at the end of such calendar year and through the earlier of (i) the date the bonus is paid, or (ii) March 31 of the year following the calendar year for which such bonus is calculated.
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Compensation During Term of Employment 
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Related to Compensation During Term of Employment

  • 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:

  • Termination of Employment Period The employment of the Employee by the Company pursuant to this Agreement shall terminate upon the occurrence of any of the following:

  • Period of Employment The “Period of Employment” shall be a period of three (3) years commencing on the Effective Date and ending at the close of business on the third anniversary of the Effective Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives written notice at least sixty (60) days prior to the expiration of the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Period of Employment (such notice to be delivered in accordance with Section 18). The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Term of Employment; Termination (a) The “

  • Expiration of Employment Period If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.

  • Expiration of Employment Term Unless the parties otherwise agree in writing, continuation of Executive’s employment with the Company following the expiration of the Employment Term shall be deemed an employment at-will and shall not be deemed to extend any of the provisions of this Agreement and Executive’s employment may thereafter be terminated at will by either Executive or the Company; provided that the provisions of Sections 6, 7 and 8 of this Agreement shall survive any termination of this Agreement or Executive’s termination of employment hereunder.

  • Term of Employment The term of employment hereunder shall commence on the Effective Time and shall end on the day preceding the second anniversary date of the Effective Time, subject to earlier termination as hereinafter provided (the "Employment Term"). After the expiration of the Employment Term unless extended in writing by mutual agreement of the parties hereto, the employment relationship thereafter will continue as employment "at will" and, accordingly after the expiration of the Employment Term, Employee and Employer will be each free to terminate such employment relationship at any time, for any reason, with or without notice or cause. Employer may terminate Employee's employment under this Agreement at any time, without prior notice, for "due cause" upon the good faith determination by the Board of Directors of Employer (the "Board"), which will be the parent of Employer, that "due cause" exists for the termination of the employment relationship. The term "due cause" shall mean any of the following events: (i) any intentional misapplication by Employee of Employer's funds or any fraud committed by Employee upon Employer; or (ii) Employee's conviction of a crime involving moral turpitude or a felony, or (iii) Employee's breach, non-performance or non-observance of the terms of this Agreement which is not cured (if curable) within ten (10) days of Employee's receipt of written notice thereof; or (iv) any other action by Employee involving willful and deliberate malfeasance or gross negligence in the performance of Employee's duties, responsibilities and agreements; or (v) Employee's death; or (vi) Employee's disability or mental or physical incapacity resulting in his inability to substantially perform all of his duties and responsibilities for Employer for a period of at least ninety (90) consecutive days. During the Employment Term, Employer may also terminate the employment of Employee other than for "due cause" provided that in such event Employee shall be entitled to receive the remaining base salary payments due hereunder for the remainder of the Employment Term, but in no event less than three months' base salary, and any accrued and unpaid bonus. In the event of such termination for other than "due cause," all other rights and benefits Employee may have under the employee and/or executive benefit plans and arrangements of Employer generally shall be determined in accordance with the terms and conditions of such plans and arrangements. The parties acknowledge and agree that during the Employment Term, Employer shall not (i) decrease Employee's annual base salary, (ii) materially diminish Employee's duties and responsibilities or (iii) require Employee to relocate on a full time basis from outside the geographic area comprised of Broward and Palm Beach Counties in the state of Florida (the "Geographic Area").

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. The Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

  • Employment Period The Company hereby agrees to continue the Executive in its employ, and the Executive hereby agrees to remain in the employ of the Company subject to the terms and conditions of this Agreement, for the period commencing on the Effective Date and ending on the third anniversary of such date (the "Employment Period").

  • Duration of Employment 5.1 A seafarer shall be engaged for the period specified in Appendix 1 to this Agreement and such period may be extended or reduced by the amount shown in Appendix 1 for operational convenience. The employment shall be automatically terminated upon the terms of this Agreement at the first arrival of the ship in port after expiration of that period, unless the Company operates a permanent employment system.

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