Executive's Base Salary is reduced, or there is any material delay in the payment of Executive's Base Salary, or there is any material reduction in the nature and amount of benefits (including benefits under the Incentive Plan or the Stock Option Plan or any successor plans thereto) theretofore provided to Executive pursuant to Section 2;
Executive's Base Salary. The Annual Bonus shall be pro-rated for any year of employment and paid in a single lump sum no later than March 15, of the year following the calendar year in which the Annual Bonus, if any, was earned. For clarity, any Annual Bonus payment made to Executive shall be purely discretionary and shall not form part of Executive’s contractual compensation under this Agreement. The first review of the target Annual Bonus percentage will occur in January 2020 and thereafter the target Annual Bonus percentage shall be reviewed on an annual basis. If the Company makes an Annual Bonus payment to Executive in respect of a particular calendar year, it shall not be obliged to make subsequent Annual Bonus payments in respect of subsequent calendar years. Executive must be employed by the Company on December 31st of the calendar year on which the bonus is based in order to be eligible to receive the Annual Bonus. Any Annual Bonus payments shall be paid to Executive less applicable deductions and withholding as required by law. Nothing in this Agreement will preclude the Board from changing or altering the objective criteria referred to under Section 4(b)(i), in whole or in part, in the Board’s sole discretion.
Executive's Base Salary. The Annual Bonus shall be pro-rated for any year of employment and paid in a single lump sum no later than March 15, of the year following the calendar year in which the Annual Bonus, if any, was earned. For clarity the Executive will be eligible to receive an Annual Bonus for each calendar year where the objective criteria referred to in Section 4(b)(i) above are met unless as a result of the overall performance of the Company and any Group Company in any particular calendar year, the Board or an authorized delegate thereof determines that: (i) no annual bonuses (or equivalent payments) will be paid to any senior executives of the Company and/or of any Group Company with respect to such calendar year, in which case the Annual Bonus will not be paid to the Executive; or (ii) reduced annual bonuses (or equivalent payments) will be paid to any senior executives of the Company and/or of any Group Company with respect to each calendar year, in which case the Annual Bonus payable to the Executive shall also be reduced. Executive must be employed by the Company on December 31st of the calendar year on which the bonus is based in order to be eligible to receive the Annual Bonus. Any Annual Bonus payments shall be paid to Executive less applicable deductions and withholding as required by law. Nothing in this Agreement will preclude the Company from changing or altering the objective criteria referred to under Section 4(b)(i), in whole or in part, in the Company’s sole discretion.
Executive's Base Salary. Executive’s base salary shall be in an amount set by the Board, but under no circumstances will be less than One Million Dollars ($1,000,000) per annum (“Base Salary”), which Base Salary shall be payable in regular installments in accordance with the Company’s general payroll practices and shall be subject to customary withholding and other deductions required by law or authorized in writing by Executive.
Executive's Base Salary. For any Fiscal Year in which the Executive is employed by the Company hereunder for a period constituting less than an entire Fiscal Year (such period, a "Partial Year"), the incentive compensation payable hereunder in respect of any such period shall be (i) based upon the Company's level of performance during the Partial Year, and (ii) shall be in an amount equal to the incentive compensation which would be so payable if such period constituted the entire Fiscal Year in which it occurs multiplied by a fraction, the numerator of which shall be the number of days in the Partial Year and the denominator of which shall be 365. The incentive compensation payable hereunder in respect of the 1997 Fiscal Year shall be $71,521 (the product of
Executive's Base Salary is reduced other than as the result of a program applied on a proportionately equivalent basis to all executives of the Bank; or any other failure by the Bank to comply with Section 4(i);
Executive's Base Salary. If Executive chooses not to participate in an outplacement program, he will be reimbursed for out-of- pocket expenses related to a job search or establishment of a business up to seven and one half percent (7.5%) of his Base Salary in lieu of such service.
Executive's Base Salary. If the Executive’s termination occurs during the 3-month period prior to a Change in Control, the same payments schedule as set forth in Section 6(c) shall apply with any additional severance amount owed due to the increased Severance Payment paid within thirty (30) days of the Change in Control.
Executive's Base Salary as defined in Section 3 as then in effect, shall continue to be paid for a period of twelve (12) months ("Payment Period") or balance of Agreement whichever is longer.
Executive's Base Salary. The Annual Bonus is part of a variable and discretionary program, generally considered at the end of each calendar year with the eligibility cutoff date for participation being October 1st in the performance year for which any bonus may be paid. It is tied to the achievement of certain performance goals established for the Company and each individual and prorated for the individual’s performance period. The total bonus pool generated for distribution, if any, is determined at the discretion of the Geron’s Board of Directors (the “Board”) and then distributed based on individual performance. If the Company determines, in its reasonable discretion, that Executive has engaged in any misconduct intended to affect the payment of her Annual Bonus or has otherwise engaged in any act or omission that would constitute Cause for termination of employment, as defined by Section 1.2 of the Agreement, Executive will automatically and immediately forfeit her entire Annual Bonus. If the Annual Bonus has already been paid to Executive, such Annual Bonus will be deemed unearned, and the Company shall have the right to recover the entire amount of the Annual Bonus paid to Executive for the calendar year(s) in which such misconduct or other act or omission constituting Cause occurred. Without limiting the foregoing, any such misconduct or other act or omission constituting Cause will subject Executive to disciplinary action up to and including termination of employment. In addition, any Annual Bonus paid to Executive for the calendar year(s) in which such misconduct or other Cause occurred is subject to recoupment in accordance with The Dxxx–Fxxxx Xxxx Street Reform and Consumer Protection Act and any implementing regulations, any other clawback policy adopted by the Company and any compensation recovery policy otherwise required by applicable laws, regulations or statutes. Recovery by the Company of an Annual Bonus in accordance with this Section shall not constitute an event giving rise to a right by Executive to voluntarily terminate her employment for Cause based on such recovery by the Company, nor shall it constitute “constructive termination”, or any similar term or circumstance under the Agreement or any other plan or agreement with the Company.
