WORKERS' COMPENSATION BENEFITS In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.
Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.
Payment of Salary Executive acknowledges and represents that the Company has paid all salary, wages, bonuses, accrued vacation, commissions and any and all other benefits due to Executive.
Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.
Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary
Base Salary During the Employment Term, the Company shall pay the Executive a base salary at the annual rate of $258,000 (“Base Salary”), payable in regular installments in accordance with the Company’s customary payment practices. The Base Salary shall be subject to annual review by the Board or the Compensation Committee (or similar committee) of the Company whereupon the Base Salary may be increased (but not decreased) at their sole discretion.
Compensation and Employers Liability Insurance a. Statutory California Workers' Compensation coverage including broad form all-states coverage.