Compensation; Reimbursement Sample Clauses

Compensation; Reimbursement. (a) The Employer shall pay to the Employee as compensation for all services rendered by the Employee during the term of this Agreement a basic annualized salary of $200,000 per year (the "Basic Salary"), or such other amount as the parties may agree on from time to time, payable in equal monthly installments or in other more frequent installments, as determined by the Employer. The Board of Directors of the Employer shall have the right to increase the Employee's compensation from time to time by action of the Board of Directors. In addition, the Board of Directors of the Employer, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to the Employee in addition to the bonuses provided for in Section 3(b). The compensation provided for in this Section 3(a) shall be in addition to any pension or profit sharing payments set aside or allocated for the benefit of the Employee. (b) In addition to the Basic Salary paid pursuant to Section 3(a), the Employer may pay as incentive compensation an annual bonus based upon the Employee's performance, as determined each year by the Board of Directors of the Employer. (c) The Employer shall reimburse the Employee for all reasonable expenses incurred by the Employee in the performance of his duties under this Agreement; provided, however, that the Employee must furnish to the Employer an itemized account, satisfactory to the Employer, in substantiation of such expenditures. (d) The Employee shall be entitled to continue the use of his current corporate vehicle and such fringe benefits, including, but not limited to, medical and insurance benefits, as may be provided from time to time by the Employer to other senior officers of the Employer. (e) As soon as possible after the effective date of this Agreement, the Employer shall adopt a restricted stock award plan pursuant to which stock awards will be granted for a total of 24,040 shares of the Employer's Common Stock, or approximately 7.5 percent of the Employer's shares outstanding on the date hereof, on a fully diluted basis. Restricted stock issued pursuant to such awards shall be subject to a restriction that the first $38 of distributions, whether dividends, upon liquidation, or otherwise shall be withheld by the Employer and distributed to the other holders of Employer's Common Stock. Such awards shall vest evenly on a monthly basis over three years (1/36 per month) beginning on the effective date of a Successful Recapital...

Compensation; Reimbursement. (a) During the Term of Employment, the Corporation (or at the Corporation's option, any subsidiary or affiliate thereof) shall pay to the Employee an annual base salary ("Base Salary") of One hundred Ninety-Eight Thousand Dollars ($198,000), payable in installments as is the policy of the Corporation with respect to employees of the Corporation at substantially the same employment level as the Employee, but in no event less frequently than once per month. Thereafter, the Base Salary shall be subject to increase at the option and in the sole discretion of the Board of Directors of the Corporation. (b) Employee shall be eligible for an annual bonus as determined by the Board of Directors of the Corporation based on Employee's performance. The bonus payment to Employee for a calendar year is contingent upon the Employee being retained as an employee of the Corporation at the time such payments are made. (c) Employee shall be eligible for an annual stock option grant consistent with the Corporation's Stock Option Plan with said grant being determined by the Board of Directors of the Corporation based on the Corporation's performance. (d) During the Term of Employment, the Employee shall be entitled to such fringe benefits as are made available from time to time to the employees of the Corporation at substantially the same employment level as the Employee, including, without limitation, 4 weeks paid vacation. (e) The Corporation shall reimburse Employee, in accordance with the practice from time to time for other officers of the Corporation, for all reasonable and necessary traveling expenses, disbursements and other reasonable and necessary incidental expenses incurred by him for or on behalf of the Corporation in the performance of his duties hereunder upon presentation by the Employee to the Corporation of appropriate vouchers, receipts and reports.

Compensation; Reimbursement. Employer shall pay employee and employee agrees to accept from employer, in full payment for employee's services hereunder, compensation at the rate of (16) Dollars ($ ) per annum, payable (17) . In addition to the foregoing, employer will reimburse employee for any and all necessary, customary, and usual expenses incurred by him while traveling for and on behalf of the employer pursuant to employer's directions.

Compensation; Reimbursement. During the Term, the Company shall pay or provide to the Executive, in full satisfaction for his services provided hereunder, the following:

Compensation; Reimbursement. At the closing of the Public Offering (the “Closing”), the Company shall compensate W▇▇▇▇▇▇▇▇▇ as follows:

Compensation; Reimbursement. (a) In consideration for the Services to be performed hereunder by ▇▇▇▇, Client shall pay PINE the fees listed in Appendix B attached hereto within thirty (30) days after the date of Client’s receipt of an invoice, which shall be paid by Client monthly in advance of services rendered. Client understands and agrees that to the extent, subsequent to the execution of this Agreement, Client hires either internal or external resources to provide services duplicative of those listed in Appendix A hereto, such activity will in no way: (i) excuse any payment obligation of Client for fees due under this Agreement as detailed in Appendix B hereto, or (ii) affect in any way the terms of this Agreement unless this Agreement is terminated prior to the expiration of the Term in accordance with Section 12 below. (b) During the Term, Client shall reimburse PINE for all reasonable and necessary travel and lodging expenses and other out-of-pocket expenses incurred by PINE in connection with the performance of the duties of the CCO and/or PFO hereunder upon presentation of appropriate receipts and other reasonable documentation as the Client may request. (c) To the extent that Appendix B sets forth escalating fees by year, ▇▇▇▇’s fees will increase to the rates set forth on Appendix B for the applicable year effective as of January 1st of the stated year. On January 1st of each year subsequent to the year period(s) set forth on Appendix B (as applicable, the “Fee Adjustment Date”), the fees in effect for the previous calendar year shall be increased by an amount equal to the percentage increase in the US Consumer Price Index – All Urban Consumers – U.S. City Average – All Items compiled by the US Bureau of Labor Statistics (“CPI-U”), as published thirty (30) days prior to the Fee Adjustment Date, for the preceding twelve (12) month period. In the absence of CPI-U being published, the Parties shall agree in writing to use another index that most closely resembles CPI-U.

Compensation; Reimbursement. At the closing of each Offering (each, a “Closing”), the Company shall compensate ▇▇▇▇▇▇▇▇▇▇ as follows:

Compensation; Reimbursement. The Managers may not receive compensation for their services; however, the Company may reimburse the Managers for all direct out-of-pocket expenses incurred by them in managing the Company.

Compensation; Reimbursement. No compensation shall be payable by the Partnership to any Partner or to an Affiliate of any Partner unless permitted pursuant to the AGHC Prospectus and Section 5.