Common use of Position and Compensation Clause in Contracts

Position and Compensation. The Executive currently is serving as Vice President and Chief Financial Officer of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.

Appears in 2 contracts

Samples: Severance and Change of Control Agreement (Packaging Dynamics Corp), Severance and Change of Control Agreement (Packaging Dynamics Corp)

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Position and Compensation. The Executive currently is serving as Executive Vice President and Chief Financial Officer President, BagcraftPapercon of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.

Appears in 1 contract

Samples: Severance and Change of Control Agreement (Packaging Dynamics Corp)

Position and Compensation. The Executive currently is serving as Vice President and Chief Financial Officer Chairman of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.

Appears in 1 contract

Samples: Control Agreement (Packaging Dynamics Corp)

Position and Compensation. The Executive currently is serving as Vice President President, Finance and Chief Financial Officer Corporate Controller of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.

Appears in 1 contract

Samples: Severance and Change of Control Agreement (Middleby Corp)

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Position and Compensation. The Executive currently is serving as Vice President and Chief Financial Officer General Manager of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.

Appears in 1 contract

Samples: Severance and Change of Control Agreement (Packaging Dynamics Corp)

Position and Compensation. The Executive currently is serving as Vice President and Chief Financial Executive Officer of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.

Appears in 1 contract

Samples: Control Agreement (Packaging Dynamics Corp)

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