Retroactive Salary. The Parties agree that, upon the occurrence of the Qualified Financing Closing, Executive shall be entitled to receive an amount representing a retroactive salary increase, which shall be calculated as the difference between the Base Salary actually paid to Executive and the Base Salary set forth in Section 1 for the period beginning on March 17, 2017 and ending on the day immediately prior to the Effective Date (the “Retroactive Salary”). The Retroactive Salary shall be payable to Executive in a lump sum in cash on the Qualified Financing Date.
Appears in 3 contracts
Sources: Employment Agreement (Actuate Therapeutics, Inc.), Employment Agreement (Actuate Therapeutics, Inc.), Employment Agreement (Actuate Therapeutics, Inc.)