REMUNERATION AND BENEFITS Sample Clauses
The REMUNERATION AND BENEFITS clause defines the compensation and additional perks that an employee is entitled to receive from their employer. This typically includes details about salary, bonuses, health insurance, retirement plans, and other benefits such as paid leave or company-provided equipment. By clearly outlining the financial and non-financial rewards associated with the position, this clause ensures both parties have a mutual understanding of the employment package, reducing the risk of disputes over pay or entitlements.
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REMUNERATION AND BENEFITS. 3.1 Manitoba shall pay to Employee as remuneration for her services, within the Executive Assistant to the Minister (EXM) classification, a basic annual salary of $58,271 payable in equal bi-weekly installments of $2,233.73, at the accepted regular Manitoba Civil Service pay periods, pro-rated where necessary for any shorter period.
3.2 Manitoba shall make:
(a) all deductions required in respect of Income Tax, Canada Pension Plan, Employment Insurance; and
(b) any other deductions required to be made from payments to Employee, whether in accordance with any applicable laws or statutes, or otherwise; and
(c) any deductions requested by Employee and agreed to by Manitoba.
3.3 The remuneration to Employee shall be adjusted at such times as salary adjustments are made in the salary range of excluded employees in the employ of Manitoba.
3.4 Employee shall be considered as an employee for purposes of The Civil Service Superannuation Act.
3.5 Employee is entitled to participate fully in the group benefit programs that have been or may be established for the employees of Manitoba including its programs relating to group insurance, long-term disability, and health benefits programs, comparable to those provided to civil servants. Employee will be eligible to participate in the group benefit programs after the waiting periods established by Manitoba. The waiting periods commence on the effective date as per section 1.1.
3.6 Employee, with the approval of Manitoba, is eligible to receive other benefits normally granted to employees employed by Manitoba.
REMUNERATION AND BENEFITS. (a) The Company will pay the Executive an annual salary of $270,000 (Canadian funds), less required deductions (the "Base Salary"). The Base Salary will be payable semi-monthly.
(b) The Base Salary will be reviewed on an annual basis. This review will not result in a decrease in the Base Salary nor will it necessarily result in an increase to the Base Salary.
(c) The Executive will be eligible for an annual cash bonus of up to 40 percent of the Base Salary, if the Chief Executive Officer and the Board of Directors in their absolute discretion determine that the Executive has achieved the performance objectives agreed to between the Executive and the Chief Executive Officer. Any bonus payable during the first year of the Executive's employment will be pro rated. Payment of a bonus in any one year will not indicate the payment of a bonus in any other year.
(d) The Company will facilitate the Executive's enrolment in the Company's insurance benefits plans, as amended from time to time. In all cases, eligibility to participate in the plans and to receive benefits under the plans will be subject to the terms and requirements of the plans themselves and/or the insurance provider. The Company is not responsible for the payment of benefits in any circumstance. Further, the Company reserves the right to change any of the insurance benefit plans or providers, however, if the Company is unable to maintain similar coverage as to the insurance benefits plans or the providers, then the Executive will be provided with compensation to assist in securing his own coverage, such compensation to be determined by the Company.
(e) The Executive will be eligible for participation in the Company's share incentive plan, subject to the terms of the plan.
(f) The Company will reimburse the Executive for all reasonable expenses actually and properly incurred by the Executive in connection with the performance of his duties. The Executive will provide the Company with receipts supporting his claims for reimbursement.
REMUNERATION AND BENEFITS. If the employment of the Interim Deacon is other than full-time specify the percentage of employment compared to full-time: %.
REMUNERATION AND BENEFITS. Subject to the Company’s policies and practices, during the Term, the Executive shall be entitled to the following remuneration and benefits (on a cumulative basis):
REMUNERATION AND BENEFITS. (A) Hub shall pay the Executive the Basic Compensation in such payment periods as are established from time to time by Hub for its employees, subject to deduction and remittance to the appropriate governmental authority of all applicable taxes and other amounts.
(B) The Executive shall be entitled to and Hub shall provide the Benefits.
(C) Hub shall reimburse the Executive for reasonable travel and other business expenses incurred by the Executive in performing the Services, in accordance with approved budgets.
(D) The Executive shall be entitled to the Vacation, to be scheduled at the mutual convenience of the parties.
REMUNERATION AND BENEFITS. Base Salary - Your annual base salary will be CAD 555,0000, less applicable statutory deductions and withholdings, payable in accordance with the Company 's payroll practices, as are in effect from time to time. Your base salary is intended to compensate you for all hours worked, and therefore, you will only be Error! Unknown document property name. Confidential - Company Proprietary Exhibit 10.33 - 2 - paid overtime pay if and to the extent required by the Employment Standards Act, 2000, as it may be amended from time to time (the "ESA"). ICP - Beginning the Effective Date, your Incentive Compensation Program (ICP) target bonus shall be 60% of your annual base salary, subject to periodic review. Normally, ICP payments are made during the first quarter of the following calendar year. This bonus is based on a Company Financial Factor and a Personal Performance Factor which are determined each year by the Company in its sole discretion . Upon the Separation, Veralto will adopt is own Inventive Compensation Program, though your target will remain the same. In 2023, the Company Financial Factor component will be subjection to proration in accordance with the time spent participating in each of the I CP and future EAS incentive compensation programs during the calendar year as a result of the Separation. For 2023, the ICP will be prorated based on your target prior to the Effective Date and the target applicable after the Effective Date. The payment of this bonus is at the discretion of the Company. The Company reserves the right to amend the conditions at any time. Subject to the applicable scheme rules or guidance in place from time to time, the award of any incentive compensation is conditional upon your continued employment and, except as may be strictly required pursuant to the ESA, no incentive compensation (or pro rata portion thereof) shall be paid if your employment has terminated for any reason or if you are under notice of termination (whether given by the Company or you) as at the date on which such incentive compensation might otherwise have been payable, and you shall not be entitled to any compensation or damages on account of any lost entitlement or expectation under any incentive compensation plan upon termination of employment for any reason (whether voluntary or involuntary, lawful or unlawful, and with or without cause), except as strictly required by the ESA. Benefits You will be eligible to part1c1pate in the benefits offered by the Compan...
REMUNERATION AND BENEFITS. 4.1 The remuneration of the Executive will be reviewed annually by the Company and communicated to the Executive in writing and paid in accordance with the Unilever Group’s payroll practice, as amended from time to time.
4.2 The Executive will not be entitled to receive any fees or other remuneration additional to the agreed remuneration by virtue of, or in respect of, any directorships that may be held from time to time of any Unilever Group company.
4.3 Any remuneration arising from a directorship of an organisation outside the Unilever Group shall be treated in accordance with the prevailing Company policy.
4.4 Details of the Executive’s pension entitlement shall be notified to him separately in writing by the Company.
4.5 The Company shall reimburse the Executive, against production of receipts, for all reasonable travelling, hotel, entertainment and other out-of-pocket expenses which he may from time to time incur in the proper execution of his duties hereunder and pursuant to any Company policy in force from time to time.
REMUNERATION AND BENEFITS a. The annual base salary (“Annual Base Salary”) payable to the Executive for his services hereunder for each year of the term of this Agreement shall be determined by the CEO upon recommendation by the Compensation Committee and set out in a separate document, subject to the provisions of Section 7, and exclusive of bonuses, benefits and other compensation as provided for herein. The Annual Base Salary payable to the Executive pursuant to the provisions of this section 5 shall be payable in such manner as other payments are made by the Corporation to senior executives or in such other manner as may be mutually agreed upon, less, in any case, all applicable deductions or withholdings as required by law. The Annual Base Salary shall be in accordance with Schedule “A” subject to the provisions of Section 7.
b. The Corporation shall provide the Executive with employee benefits comparable to those provided by the Corporation from time to time to other senior executives of the Corporation. Benefits to be enjoyed by the Executive during the term of this Agreement shall be in accordance with Schedule “B”, as amended from time to time, and shall include reimbursement of any properly incurred expenses as provided for in Section 10 hereof.
c. The Executive will be eligible to participate in the “Long-Term Incentive Program” (LTIP) upon the July 1st immediately following accepting employment with the corporation. The value of the LTIP is determined at the beginning of the LTIP term in relation to the Executive’s on-target-earnings. (OTE = Executive’s annual base salary + variable compensation at target). This value target will be used for the three-year term of the incentive plan.
REMUNERATION AND BENEFITS. 5.1. The Executive shall be paid a basic salary at the rate of S$16,000 per month with monthly CPF contributions by the Company in accordance with the applicable legislation, regulations and policies from time to time, payable in arrears at the end of every month or in accordance with the Group’s policies.
5.2. The Executive’s performance will be reviewed from time to time, and the Company may make such adjustments, if any, as it deems fit to the Executive’s basic salary as set out in Clause 5.1, subject to the written approval of Mediaplus BVI.
5.3. In addition to the basic salary as set out in Clause 5.1 above, in respect of each financial year, the Executive shall be entitled to receive achievement bonus which shall be computed in the following manner:
(a) in the event that the consolidated net profit before tax of the Group in respect of any financial year is not less than S$500,000, an achievement bonus equivalent to six (6) months’ salary shall be payable to the Executive; and
(b) in the event that the consolidated net profit before tax of the Group in respect of any financial year is equal to or more than $250,000 but less than S$500,000, an achievement bonus equivalent to three (3) months’ salary shall be payable to the Executive. For the avoidance of doubt, no achievement bonus shall be payable to the Executive in the event that the consolidated net profit before tax of the Group in respect of any financial year is less than S$250,000.
5.4. The Board or its nominee may in its absolute discretion in addition to the payments referred to in Clause 5.1 and Clause 5.3, make such other payments, bonuses, allowances or benefits to the Executive, subject to the written approval of Mediaplus BVI.
5.5. The Executive shall be entitled during his employment to such other benefits generally accorded to employees holding a similar position, as may be determined by the Board or its nominee and in accordance with the prevailing Group policies.
5.6. The Company shall reimburse to the Executive all travelling, hotel, entertainment and other expenses reasonably and properly incurred by him in the reasonable and proper performance of his duties hereunder upon the Executive providing the Company with such vouchers or other evidence of actual payment of such expenses as the Company may require.
5.7. The Executive shall be entitled during his employment to 21 days of paid annual leave for each year of employment (pro-rated for periods of employment of less than one year...
REMUNERATION AND BENEFITS. (a) The Corporation shall pay to the Executive as compensation for his services provided hereunder an annual base salary ("Annual Base Salary") for each year of the term of this Agreement, which shall be determined by the Reporting Manager and the CEO (and the Compensation Committee, as may be required) and set out in a separate document, subject to the provisions of Section 8, and which shall be exclusive of bonuses, benefits and other compensation as provided for herein. The Annual Base Salary shall be payable in accordance with the Corporation's regular payroll practices for senior executives or in such other manner as may be mutually agreed upon, less, in any case, all applicable deductions or withholdings as required by law. As of the date of this Agreement, the Annual Base Salary is USD $400,000.00.
(b) The Corporation shall provide the Executive with employee benefits comparable to those provided by the Corporation from time to time to other senior executives of the Corporation. Benefits to be enjoyed by the Executive during the term of this Agreement shall include, but not be limited to, those benefits set forth in Schedule “A”, as amended from time to time, and shall include reimbursement of any properly incurred expenses as provided for in Section 11 hereof.