Section 3(b) of the Employment Agreement Sample Clauses

Section 3(b) of the Employment Agreement. The first sentence of Section 3(b) of the Employment Agreement is hereby amended and restated in its entirety as follows: “In addition to Base Salary, Executive will have an opportunity to earn a cash bonus (the “Annual Bonus”) each calendar year during the Employment Period, commencing with calendar year 2011, as determined by the Compensation Committee, with a target annual bonus equal to seventy-five (75%) of Executive’s Base Salary (the “Target Bonus”) with respect to each calendar year during the Continuing Employment Period (prorated for calendar year 2011), based upon the achievement with respect to any calendar year of performance objectives as approved by the Compensation Committee (the “Target Bonus Objectives”). For the avoidance of doubt, (i) the prorated target annual bonus for the first half of calendar year 2011 shall be equal to seventy percent (70%) of the amount of Executive’s Base Salary paid in respect of the period beginning on January 1, 2011 and ending on June 30, 2011 and (ii) the prorated target annual bonus for the second half of calendar year 2011 shall be equal to seventy-five percent (75%) of the amount of Base Salary paid to Executive in respect of the period beginning on July 1, 2011 and ending on December 31, 2011.
Sample 1
AutoNDA by SimpleDocs

Related to Section 3(b) of the Employment Agreement

  • of the Employment Agreement Section 4.4.3 of the Employment Agreement is hereby amended and restated in its entirety to read as follows:

  • Amendment of Employment Agreement The Employment Agreement is hereby amended as follows:

  • Termination of Employment Agreement (a) Effective as of the Effective Date and immediately prior to the Effective Time, the Employment Agreement is hereby terminated and shall be of no further force or effect whatsoever; provided, however, that, and notwithstanding anything in this Agreement to the contrary, such termination shall be contingent on the closing of the Merger.

  • Termination of Employment Agreements Any and all Employment Agreements entered into between the Company or any of its Subsidiaries and the Executive prior to the date of this Agreement are hereby terminated.

  • Termination of Consulting Agreement As of the Effective Date, the Consulting Agreement is hereby terminated and is of no further force or effect.

  • Employment Agreement On the terms and conditions set forth in this Agreement, the Company agrees to employ the Executive and the Executive agrees to be employed by the Company for the Employment Period set forth in Section 2 hereof and in the position and with the duties set forth in Section 3 hereof. Terms used herein with initial capitalization are defined in Section 10.12 below.

  • Prior Employment Agreement Effective as of the Agreement Date, this Agreement supersedes any prior employment agreement between the Employee and the Company.

  • Employment and Consulting Agreements Xxxxxxx X. Xxxx and Xxxx X. Xxxxxx shall have executed and delivered employment agreements with BRI, and Xxxxxx Xxxx shall have executed and delivered a Consulting Agreement with BRI.

  • No Employment Agreement Nothing in this agreement shall give the Executive any rights to (or impose any obligations for) continued employment by the Company or any Affiliate or subsidiary thereof or successor thereto, nor shall it give such entities any rights (or impose any obligations) with respect to continued performance of duties by the Executive.

  • Employment Agreements Each of the persons listed on Schedule 9.12 shall have been afforded the opportunity to enter into an employment agreement substantially in the form of Annex VIII hereto.

Time is Money Join Law Insider Premium to draft better contracts faster.