Salary and Incentive Compensation. The Company shall pay to Executive a salary from and after the Effective Date at the annual rate of $475,000 (the “Salary”). The Salary shall be paid in such installments and at such times in accordance with the Company’s standard payroll practices. The Salary shall be reviewed by the Board or, if applicable, the Compensation Committee (the “Committee”) of the Board of Managers of the Company (the “Board”) periodically in accordance with the Company’s normal compensation review practices for executive officers, in connection with which the Salary shall be subject to increases, but not decreases, at such times as shall be determined by the Committee in its discretion. Executive shall also be entitled to participate in the Focus Financial Partners, LLC Annual Cash Bonus Plan or any successor annual incentive plan (with annual target bonus opportunity to be set at 125% to 150% of Salary) and the Company’s Incentive Unit Plan or any successor equity-based compensation plan (with annual target equity incentive opportunities to be set at 125% to 150% of Salary, and the value of such Incentive Units to which Executive is entitled shall equal the cash bonus awarded to the Executive pursuant to the Company’s Annual Cash Bonus Plan (or a successor plan), applying the Black Scholes method consistent with the Company’s past practice to determine the corresponding number of Incentive Units to be issued to Executive for that annual period) adopted for each fiscal year for executive officers as determined by the Committee, subject to the normal review practices and procedures of the Committee. As of the Effective Date, the Incentive Units previously granted to Executive and identified on Exhibit B shall be deemed fully vested notwithstanding the terms of any of the respective Incentive Unit Agreements governing any of the Incentive Units. The Company shall deduct or cause to be deducted from the Salary, bonuses and other compensation payable to Executive all taxes and amounts required by law to be withheld.
Salary and Incentive Compensation. For services rendered under this Agreement, the Company shall pay the Executive a monthly salary of $13,462.50 paid semi-monthly in accordance with the Company’s customary payroll practice.
Salary and Incentive Compensation. The compensation for the Executive shall include both a salary (“Base Salary”) and participation in short term and long term incentive plans. This compensation will be reviewed by the Compensation Committee of the Board of Directors (“Compensation Committee”) on at least an annual basis, and upon such annual review, may be changed or adjusted as deemed appropriate by the Compensation Committee or by the Board of Directors. The Company agrees that any modification of the Executive’s salary and incentive compensation will be documented in the official minutes and/or other documentation of the Compensation Committee.
Salary and Incentive Compensation. For all services rendered by the Executive in any capacity during the Employment Period under this Agreement, the Executive shall be paid as compensation (i) an annual salary of $125,000, or such higher salary as may be negotiated from time to time by the Bank and the Executive (hereinafter referred to as the "annual base salary") plus (ii) a bonus payable within 30 days after ------------------ the end of each calendar year equal to ten percent (10%) of the net pre-tax profits of the Bank during such year up to a maximum of fifty percent (50%) of the Executive's then annual base salary. The annual base salary shall be payable in equal bi-weekly installments. For purposes of calculating Executive's bonus, "net pre-tax profits" means the Bank's gross revenues for such calendar year -------------------- less all operating expenses and charges to income in accordance with generally accepted accounting principles, consistently applied.
Salary and Incentive Compensation. During the Employment Period Executive shall be entitled to compensation from the Company as follows:
Salary and Incentive Compensation. For all services rendered by the Executive in any capacity during the Employment Period under this Agreement, subject to Section 7(e) hereof, the Executive shall be paid as compensation (1) an annual salary of $185,000, or such higher salary as may be negotiated from time to time by Numerex and the Executive. Such salary shall be payable in accordance with the standard pay schedule established for Numerex executives and any discretionary bonus shall be payable in the manner and at the time specified by the Board of Directors.
Salary and Incentive Compensation. The Employee’s initial annual base salary (the “Annual Base Salary”), payable in accordance with the Company’s general payroll practices, in effect from time to time, shall be at the annual rate of $295,000. The Company’s Board of Directors (the “Board”) shall review such base salary at least annually and may from time to time direct such upward adjustments in Annual Base Salary as the Board deems to be necessary or desirable in its sole and absolute discretion.
Salary and Incentive Compensation. For all services rendered by the Executive in any capacity during the Employment Period under this Agreement, the Executive shall be paid as compensation (i) an annual salary of $68,500, or such higher salary as may be negotiated from time to time by the Association and the Executive plus (ii) such incentive compensation or bonus as may be awarded to the Executive from time to time by the Board of Directors. Such salary shall be payable in 52 equal weekly installments and any such incentive compensation or bonus shall be payable in the manner and at the time specified by the Board of Directors.
Salary and Incentive Compensation. For each year during the Term of this Agreement, the University shall pay Xxxxxx an annual salary from public and private funds in the total amount of Three Hundred and Fifty Thousand ($350,000.00) Dollars, payable in twenty-six (26) equal installments as consistent with KSA payroll (the AAnnual Salary@). The University’s obligation to Xxxxxx shall only extend for one Contract Year at a time pursuant to Kansas Board of Regents policy, but shall automatically renew for one year at the expiration of the prior Contract Year. At the conclusion of Xxxxxx’x last Contract Year as established by this Agreement, the University’s obligation shall not renew. To the extent that this Agreement purports to obligate the University to pay the Annual Salary beyond a current Contract Year, KSA expressly assumes the University’s obligation to make such payments beyond that current Contract Year, and KSA expressly represents and warrants that it is legally authorized to do so. At the sole discretion of the President, Xxxxxx will be eligible for merit-based increases to his Annual Salary during the Term based upon his job performance; provided, however, that any such increases, if awarded, shall be consistent with the overall merit-based average salary increase available to all faculty and staff. Additionally, Xxxxxx shall be eligible for other increases to his Annual Salary and Incentive Compensation as determined and agreed by the parties and approved by the President derived solely from private or KSA agency funds. The parties agree that Xxxxxx shall receive the following bonus and incentive compensation:
Salary and Incentive Compensation. Effective as of the Amendment 1 Effective Date, all references to “125% to 150%” in Section 3.1 of the Employment Agreement are hereby deleted and replaced with “150% to 200%.”
