Minimum Annual Base Salary Clause Samples
The Minimum Annual Base Salary clause sets a guaranteed lowest yearly salary that an employee must receive from their employer. This clause typically specifies a fixed dollar amount or a formula for calculating the minimum salary, ensuring that the employee's base pay does not fall below this threshold regardless of performance or company circumstances. Its core function is to provide financial security for the employee and to establish clear compensation expectations, thereby preventing disputes over salary reductions or inadequate pay.
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Minimum Annual Base Salary. The Executive’s minimum annual base salary (the “Minimum Annual Base Salary”) shall be Four Hundred Fifty Thousand Dollars ($450,000), payable in accordance with the Company’s normal payroll practices for its executive officers. The Minimum Annual Base Salary may be increased from time to time at the discretion of the Compensation Committee of the Board of Directors of the Company, any other committee authorized by the Board of Directors or any officer having authority over executive compensation.
Minimum Annual Base Salary. In no event shall Employee’s annual Base Salary be reduced below the initial Base Salary of Four Hundred Fifty Thousand Dollars and Zero Cents ($450,000.00), unless pursuant to an across-the-board salary reduction affecting other similarly situated senior executive-level employees of Company.