Annual Basic Salary definition
Examples of Annual Basic Salary in a sentence
In the case of the Executive's death, the Companies shall pay to the Executive's beneficiaries or estate, as appropriate, (i) promptly after the Executive's death, the unpaid Annual Basic Salary to which he is entitled pursuant to subsection 5(a) through the date of his termination, and (ii) as soon as practicable after the close of the Companies' fiscal year in which the Executive's death occurs, a prorated portion of any unpaid Bonus Compensation determined by the Boards.
The Annual Basic Salary and increments will be decided by the Nomination and Remuneration Committee / Board of Directors depending on the performance of the Managing Director, the profitability of the Company and other relevant factors.
The Enhanced Death Benefit formula is two (2) times the sum of your Annual Basic Salary and Target Bonus for the fiscal year in which the death occurs.
The Annual Basic Salary shall be subject to any withholdings which are required to be deducted by law and shall be payable by bank credit transfer in equal monthly instalments in arrears on or about the last working day of each calendar month paid by ▇▇▇▇▇▇ Digital in accordance with its regular payroll practice for its senior executives as in effect from time to time.
If the Appointment is terminated by ▇▇▇▇▇▇ Digital for Cause or the Executive serves notice to voluntarily terminate his employment by serving notice under Section 1(a)(iii) then ▇▇▇▇▇▇ Digital shall pay to the Executive in a lump sum in cash within thirty days after the Date of Termination, any portion of the Executive’s Annual Basic Salary earned through the Date of Termination that has not been paid and earned annual bonuses for completed financial years prior to the Date of Termination.
The Annual Basic Salary shall be reviewed for adjustment by the Board at least annually prior to the end of each calendar year during the Executive’s employment with ▇▇▇▇▇▇ Digital.
If the Appointment is terminated by ▇▇▇▇▇▇ Digital due to Disability or terminated automatically upon the Executive’s death then ▇▇▇▇▇▇ Digital shall pay to the Executive (or the Executive’s estate, as applicable) in a lump sum in cash within 30 days after the Date of Termination, any portion of the Executive’s Annual Basic Salary earned through the Date of Termination that has not been paid and earned annual bonuses for completed financial years prior to the Date of Termination.