Employment and Compensation Sample Clauses

Employment and Compensation. The parties acknowledge and agree that: (a) During the Term (defined below), I will be employed by Employer as the Chairman and Chief Executive Officer of Employer. I will report directly to, and only to, the Board of Directors of Employer (the "Board"), and my responsibilities in such position will be to manage and oversee the operations of Employer as is customary for the chairman and chief executive officer of a corporation and is consistent with the past practice of Employer as existed prior to the date of this Agreement, including without limitation, principal decision-making authority regarding day-to-day business operations, hiring of employees, firing of employees, client relations, client development, cash management, growth opportunities, capital expenditures and business opportunities. I shall have all executive powers and authority which are necessary to enable me to discharge my duties as Chairman and Chief Executive Officer of Employer and/or which are commonly incident to such office. (b) I agree that I will not be entitled to receive any salary hereunder until such time as the company has completed an initial seed financing of at least $150,000. From and after that point, my initial base salary will be $16,500 per month (the "Base Salary"), less standard tax withholdings, payable in equal installments in frequency customary under Employer's payroll policies as in effect from time to time which shall in no event be less than semi-monthly, and my Base Salary will be subject to upward adjustments at any time and from time to time at the discretion of the compensation committee of the Board. Under no circumstances during the Term will my Base Salary, bonus levels (discussed below) or benefits (discussed below) be reduced without my advanced written consent which may be withheld by me in my sole and absolute discretion. (c) I will be eligible to participate in all benefit plans of Employer offered to similarly-situated executives of Employer from time to time on a basis no less favorable than that afforded to any other director, officer or employee of Employer, as such plans are determined and administered by Employer in its sole discretion. (d) On the date that is two business days following the release of Employer's audited financial statements for the prior fiscal year, commencing with the fiscal year ending December 31, 2003, I shall receive a bonus in an amount equal to seven percent (7%) of the EBITDA of Employer, as shown on such

Employment and Compensation. The Parties wish to enter into an employment agreement for an unfixed period, in accordance with the conditions and provisions of this Employment Agreement. The date of commencement of the Manager’s employment, his job, his direct supervisor and other issues relating to the conditions of the Manager’s employment, including consideration, are set out in Appendix A, which is attached hereto.

Employment and Compensation. 1. The Board hereby employs the Assistant Principal for one (1) year commencing July 1, 2024, and terminating on June 30, 2025, with such responsibilities and duties in connection with and as may be fixed by the Board in this Agreement and in its policies, rules and regulations. The Assistant Principal will work for two hundred and twenty (220) days per contract year. 2. The Board shall pay to the Assistant Principal a salary of ONE HUNDRED THOUSAND DOLLARS ($100,000) for their work during the contract year in equal installments in accordance with the rules of the Board governing payments of other administrative staff members in the District. The Assistant Principal hereby accepts employment upon the terms and conditions hereinafter set forth. 3. In addition to the annual salary stated in paragraph A.2 of this Agreement, the Board shall make a contribution on behalf of the Assistant Principal to the State of Illinois Teachers' Retirement System (“TRS”), in satisfaction of the Assistant Principal’s entire required (9.0%) retirement contribution to TRS. It is the intention of the parties to qualify all such payments paid by the Board on the Assistant Principal’s behalf as employer payments pursuant to Section 414(h) of the Internal Revenue Code of 1986, as amended. The Assistant Principal does not have any right or claim to these amounts except as they may become available at the time of retirement or resignation from TRS. Both parties acknowledge that the Assistant Principal did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to TRS, and that such contributions are made as a condition of employment to secure the Assistant Principal’s future services, knowledge, and experience. 4. Any salary or other modification made during the term of this Agreement shall be in the form of a written amendment and shall become a part of this Agreement, but such modification shall not be construed as a new Agreement with the Assistant Principal, or as an extension of the termination date of this Agreement. 5. During the term of this Agreement, the Assistant Principal shall hold a valid Professional Educator License and Endorsement issued by the State of Illinois Teachers’ Certification Board qualifying them to act as the Assistant Principal for the District.

Employment and Compensation. 1. The Board hereby employs the Principal for one (1) year, commencing on July 1, 2010, and terminating on June 30, 2011. The salary for the period July 1, 2010 through June 30, 2011 shall be Ninety Two Thousand Seven Hundred Fifty Three ($92,753). The salary shall be payable in equal installments in accordance with the rules of the Board governing payments of other administrative staff members in the District. The Principal hereby accepts employment upon the terms and conditions hereinafter set forth. 2. In addition to the annual salary stated in paragraph A.1 of this contract, the Board shall pay on behalf of the Principal to the State of Illinois Teachers’ Retirement System, 8% of the required contributions to said pension system. The Principal shall not have any right or claim to said amounts, except as they may become available at the time of retirement or resignation from the State of Illinois Teachers’ Retirement System. Both parties acknowledge that the Principal did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the Teachers’ Retirement System, and further acknowledge that such contributions are made as a condition of employment to secure the Principal’s future services, knowledge and experience. 3. Any salary or other adjustment or modification made during the life this contract shall be in the form of a written amendment and shall become a part of this contract, but such adjustment or modification shall not be construed as a new contract with the Principal, nor as an extension of the termination date of this contract. 4. During the term of this contract, the Principal shall hold a valid and properly registered certificate issued by the State of Illinois Teachers’ Certification Board qualifying him to act as a Principal in the School District. 5. The Principal shall submit, at Board expense, to a physical or mental examination by a physician licensed in Illinois to practice medicine and surgery in all its branches whenever the Board deems such examination necessary and in accordance with applicable law. As a condition of employment, the Principal also agrees to comply with all health requirements established by law. 6. The Principal acknowledges that, pursuant to The School Code and by accepting the terms of a multi-­‐year contract, he waives all rights to tenure in the School District only for the term of the multi-­‐year contract and any multi-­‐year extensi...

Employment and Compensation. 1. The Board hereby employs the Administrator for two (2) years, commencing on July 1, 2012, and terminating on June 30, 2014. The salary for the period July 1, 2012 through June 30, 2013 shall be Ninety Nine Thousand Six Hundred Fifty Five Dollars and two cents ($99,655.02) for the 2012-2013 contract year. The salary for the period July 1, 2013 through June 30, 2014 shall be One hundred One Thousand Six Hundred Forty Eight dollars and Twelve cents. ($101,648.12). This salary is payable in 26 equal installments per year in accordance with the rules of the Board governing payments of other administrative staff members in the District. The Administrator hereby accepts employment upon the terms and conditions hereinafter set forth. 2. In addition to the annual salary stated in paragraph A.1 of this contract, the Board shall pay on behalf of the Administrator to the State of Illinois Teachers’ Retirement System, 85% of required contributions to said pension system. The Administrator shall not have any right or claim to said amounts, except as they may become available at the time of retirement or resignation from the State of Illinois Teachers’ Retirement System. Both parties acknowledge that the Administrator did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the Teachers’ Retirement System, and further acknowledge that such contributions are made as a condition of employment to secure the Administrator’s future services, knowledge and experience. 3. Any salary or other adjustment or modification made during the life this contract shall be in the form of a written amendment and shall become a part of this contract, but such adjustment or modification shall not be construed as a new contract with the Administrator, nor as an extension of the termination date of this contract. 4. During the term of this contract, the Administrator shall hold a valid and properly registered certificate issued by the State of Illinois Teachers’ Certification Board qualifying him to act as an Administrator in the School District. 5. The Administrator shall submit, at Board expense, to a physical or mental examination by a physician licensed in Illinois to practice medicine and surgery in all its branches whenever the Board deems such examination necessary and in accordance with applicable law. As a condition of employment, the Administrator also agrees to comply with all health requirements est...

Employment and Compensation. 1. The counselor will be an employee of Brazosport College. 2. Brazosport College accepts responsibility for salary and associated benefits for the counselor. 3. Funding for this position will be shared by the College and ISD. If funding is discontinued by either party, this position is subject to discontinuance. 4. Vacation and sick leave, as awarded by Brazosport College, will be honored by Angleton Independent School District.

Employment and Compensation. Non certificated personnel shall not be assigned to perform work in the instructional setting which will substitute on a full time basis, and/or replace an employee in his assignment or employment. All, unless otherwise provided in this agreement, employees shall be placed on the annual salary schedule in accordance with the criteria for salary schedule placement as contained in the Collective Bargaining Agreement.

Employment and Compensation. The Company has agreed to employ Executive for an indefinite period and Executive has agreed to become so employed, on the terms and conditions set forth herein. The commencement date of the employment, Executive’s position, the reporting duties and other work-related terms, including salary, entitlements and fringe benefits, are specified in Appendix A attached hereto.

Employment and Compensation. The Employer hereby employs the --------------------------- Employee and the Employee accepts such employment President and Secretary. The Employee shall have such duties as set forth by the Employer and shall report directly to the Board of Directors of Employer.