Position; Compensation Sample Clauses

Position; Compensation. Employee shall be elected an Executive Vice President of UOL and Vice President of Business Development of its HTR subsidiary. Subject to overall control of the Boards of Directors of UOL and HTR, Employee shall be responsible for corporate development matters for HTR. In consideration of Employee's services hereunder, UOL shall, beginning with the pay period commencing _______________, 1997, pay Employee a minimum annual base salary of One Hundred Ten Thousand and no/100s Dollars ($110,000) per annum, payable in equal monthly installments in accordance with UOL's normal payroll practices, plus an annual performance bonus determined in accordance with the Bonus Pool provisions set forth in Exhibit A. Employee's annual base salary will increase to One Hundred Forty Thousand and no/100s Dollars ($140,000) on the first anniversary hereof. Employee's annual base salary for the year beginning on the second anniversary hereof shall be determined by Farzxx Xxxxxxxxx. Xxployee's total compensation shall be reviewed by the Board of Directors of UOL on an annual basis during the term hereof (including renewal terms) and may be increased (but not decreased) as UOL deems appropriate in its sole discretion. Employee shall subject to UOL Shareholder approval, be entitled to the grant of an option to purchase 3,000 shares of UOL Common Stock at an option price of $23.00 per share for a term of five years. In addition, Employee shall be eligible, during the term hereof, to receive options for the purchase of UOL stock determined in accordance with the Option Pool provisions set forth in Exhibit B. Employee shall be entitled to a signing bonus in the amount of $69,000.00 payable upon the earlier of (i) successful completion of a firm underwritten public offering of UOL Common Stock, or (ii) December 31, 1998.
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Position; Compensation. You shall be employed as and perform the duties of the Executive Vice President and Chief Financial Officer for EOL and its subsidiaries. You will report to EOL’s Chief Executive Officer (“CEO”). You will receive an annualized salary, payable in accordance with EOL’s regular payroll practices, of at least $250,000, a $125,000 bonus opportunity based on annual performance in your first year of employment, a one time $40,000 signing bonus payable across 6 months, reimbursement of up to $60,000 in relocation expenses. Your salary shall be subject to annual review and adjustment at the discretion of EOL’s Board of Directors (the “Board”). Each year following your first year of employment, your bonus opportunity will be based on annual performance objectives as defined by EOL’s CEO. Your actual bonuses may be more or less than the target bonus established by the CEO, and shall be dependent upon the extent to which your actual performance meets, exceeds, or falls below the performance objectives set forth by the CEO. Bonuses paid to you shall be paid in a single lump sum, subject to lawful deductions, unless payment of the bonus amount in a lump sum would violate any applicable law or regulation. To the extent practicable, any bonuses paid to you shall be paid at such time as bonuses are regularly paid to senior executives of EOL, but in any event shall be paid on or before March 15 of the year following the year to which the bonus payment relates. You will be eligible to participate in the Company’s benefit plans including Medical, Dental, Life, Short and Long Term disability and 401K on the first of the month following your date of hire. You will accrue four weeks of vacation per year. You will receive 675,000 restricted shares of XXXXX Online, Inc. common stock on the date you commence your employment, the terms of which shall be set forth in a grant agreement, a form of which is attached hereto as Exhibit A. These shares are being issued as an inducement grant under the NASDAQ rules and not under the EOL 2005 Stock Award and Incentive Plan, as amended. The shares will vest in equal installments on the first three anniversaries of such date. You will be eligible for future grants of stock and stock options as the Compensation Committee of the Board deems appropriate, based on overall corporate performance and individual performance, and in accordance with the terms of the EOL 2005 Stock Award and Incentive Plan, as amended.
Position; Compensation a. Effective as of immediately following the Closing, your sole position with the Company shall be Strategic Advisor. In this role, your time commitment is expected to be 25% of the time commitment of a full-time executive. You shall remain subject to Section 2 of your Employment Agreement, other than clause (i) thereof, and any activities that you perform with respect to other businesses shall not interfere with your duties to the Company.
Position; Compensation. Physician's annual base compensation for services rendered pursuant to this Appointment shall be One Hundred Fifty Thousand Dollars ($150,000) for the term of this Appointment. Physician shall continue to receive all standard Company benefits and shall be entitled to four (4) weeks paid vacation per year. On or about the inception date of this Appointment, Physician shall receive 50,000 stock options at market price with a three year vesting period. The terms of the Stock Option Agreement and the Company Stock Option Plan shall control the RMO's rights and interests in said options, which shall be in addition to any other Company stock options he may have as of the date of this Appointment. Physician shall be entitled to receive the following as incentive compensation:
Position; Compensation. Employee initially shall be employed in the position, and for the compensation, described on Exhibit A attached hereto. Employee expressly understands and agrees that from time to time Employer in its sole discretion may change the job responsibilities or title of Employee, and may modify the compensation payable to Employee.

Related to Position; Compensation

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Special Compensation The Company shall pay to the Executive a lump sum equal to three times the sum of (a) the highest per annum base rate of salary in effect with respect to the Executive during the three-year period immediately prior to the termination of employment plus (b) the Highest Bonus Amount. Such lump sum shall be paid by the Company to the Executive within ten business days after the Executive's termination of employment, unless the provisions of Section 3(e) below apply. The amount of the aggregate lump sum provided by this Section 3(c), whether paid immediately or deferred, shall not be counted as compensation for purposes of any other benefit plan or program applicable to the Executive.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

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