Common use of Compensation Package Clause in Contracts

Compensation Package. (a) The Company shall pay to the Employee, and the Employee agrees to accept, base salary of two hundred and fifty thousands dollars ($250,000) per year, payable in accordance with normal payroll policies of the Company and shall be subject to all usual and customary payroll deductions including all applicable withholding taxes. (b) The Employee's annual base salary increase over the prior year's base salary each year during the term hereof should be the sole discretion of the Company's Board of Directors based on Company and the Employee's performance.

Appears in 1 contract

Sources: Employment Agreement (Singing Machine Co Inc)

Compensation Package. (a) The Company shall pay to the Employee, and the Employee agrees to accept, base salary of two hundred and fifty thousands thousand dollars ($250,000) per year, payable in accordance with normal payroll policies of the Company and shall be subject to all usual and customary payroll deductions including all applicable withholding taxes. (b) The Employee's annual base salary increase over the prior year's base salary each year during the term hereof should be the sole sold discretion of the Company's Board of Directors based on Company and the Employee's performance.

Appears in 1 contract

Sources: Employment Agreement (Singing Machine Co Inc)