Base Salary definition
Examples of Base Salary in a sentence
Nothing in this Retention Agreement is intended to alter your at-will employment relationship, and except as otherwise modified herein with respect to your Base Salary, Target Percentage, bonus eligibility and severance eligibility, all other provisions of the Employment Agreement and your Employee Confidential Information, Invention Assignment, Non-Solicitation and Non-Competition Agreement (the “Covenants Agreement”) remain in full force and effect.
Additionally, for any Annual Bonus that you may be eligible to receive attributable to the 2026 calendar year, your Target Percentage shall be increased to 40% of your then-current Base Salary (the “Modified Target Percentage”).
If Employee s employment is terminated by Employer during the Third Period without Cause, Employer will provide not less than six (6) months notice of termination or an amount equal to six (6) months of Employee s Base Salary in lieu of notice plus the severance payments and Carried Interest described in Section 7 below.
Employer agrees to pay to Employee during the Employment Term an annual base salary in the amount of Six Hundred Ninety-Six Thousand, Eight Hundred Ninety-one US Dollars and Fifty-six Cents ($696,891.56) per Employment Year less payroll deductions and all required withholdings, or such higher amount as the CEO shall from time to time determine (the Base Salary ).
Notwithstanding any such designation, Executive shall continue to receive the Base Salary in accordance with Section 4(a) and coverage under the Benefit Plans in accordance with Section 4(b), to the extent permitted by the then-current terms of the applicable benefit plans and as provided under the FMLA, if applicable, until the earliest to occur of: (A) Executive becomes eligible for disability income benefits under Company’s disability income plan, or (B) the termination of Executive’s employment.