Term of Employment; Compensation. The Company agrees to employ Executive from July 1, 2001 until June 30, 2003 (the “Term”) as its President and Chief Operating Officer, with the responsibilities normally associated with such position (the “Executive Position”). The Company will pay Executive for his services during the term of his employment hereunder at an annual rate of Two Hundred Fifty Thousand Dollars ($250,000.00) subject to increases thereafter as determined by the Company’s Board of Directors and Compensation Committee, payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Thereafter, this Agreement shall be automatically renewed for successive periods of two (2) years, unless you or the Company shall give the other party not less than three (3) months prior written notice of non-renewal. Section 2.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof until September __, 2003, as President and Chief Executive Officer, with the responsibilities normally associated with such position. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of One Hundred Twenty Five Thousand Dollars ($125,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. This salary will be subject to annual review and increase (but not decrease) by the Board of Directors of the Company or the Compensation Committee thereof.
Term of Employment; Compensation a. The Company agrees to employ Employee as an employee from the date hereof, for a period of five (5) years or until the earlier termination of this Agreement pursuant to the terms hereof. The Company will pay Employee base salary for his services rendered hereunder at an initial annual rate of $150,000. Upon receipt by the Company of an investment commitment of at least $5,000,000 and physical receipt of at least $1,000,000 of such commitment, Employee's base salary shall increase to an annual rate of $225,000 effective October 1, 2008. Employee shall have the option to receive any amounts which were not paid to Employee from October 1, 2008 until such time as the increase in salary becomes payable in cash or restricted common stock of the Company at the then current market price. Employee's salary shall be paid in accordance with the Company's regular payroll practices as determined by the Company, subject only to such payroll and withholding deductions as are required by law and such other payroll deductions, as are determined by the Company policy or as Employee may approve. Employee shall receive an annual salary review and shall be considered for salary increases consistent with the profitability of the Company and with the salary increases of the other executive level employees of the Company.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof for three (3) years thereafter. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of One Hundred and Fifty Thousand U.S. Dollars ($150,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Such annual compensation shall be subject to an annual review and may be increased as mutually agreed upon by the Company and the Employee. Employee shall also be eligible for any bonuses and other cash and non-cash compensation customarily awarded by the Company or Selfcare to senior executives of the Company or Selfcare.
Term of Employment; Compensation. Employee’s employment hereunder shall commence at 12:01 a.m. on the first day following the consummation of the transactions contemplated in the Purchase Agreement, and shall end at 11:59 p.m. on June 30, 2008 (the “Term”), unless renewed or as mutually agreed upon by the parties or sooner terminated by Employer for Cause or by Employee for Good Reason in accordance with the terms and conditions set forth in this Agreement. During the term hereof, Employer shall pay Employee an annual salary of $200,000.00 (prorated for the remainder of fiscal year 2006 based upon a 365-day year). Employee shall also be included or entitled to participate in such employee benefit programs as are maintained from time to time by Employer on the same terms and conditions as similarly situated employees. Employee shall be entitled to receive the same or comparable benefits to those currently received from the Company.
Term of Employment; Compensation. Employee's employment hereunder shall commence at 12:01 a.m. on the first day following the consummation of the transactions contemplated in the Purchase Agreement, and shall end at 11:59 p.m. on December 31, 2008 (the "Term"), unless renewed or as mutually agreed upon by the parties or sooner terminated by Employer for Cause or without Cause or by Employee for Good Reason in accordance with the terms and conditions set forth in this Agreement. During the term hereof, Employer shall pay Employee an annual salary of $160,000.00 (prorated for the remainder of fiscal year 2007 based upon a 365-day year). Employee shall also be included or entitled to participate in such employee benefit programs as are maintained from time to time by Employer on the same terms and conditions as similarly situated employees.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof until February 9, 2003, in a senior managerial capacity, initially as Vice President and a Director, with the responsibilities normally associated with such position. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of Sixty Thousand Dollars ($60,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Employee shall also be entitled to participate in the current bonus plan of Miracor Diagnostics, Inc. on the same terms and conditions as other executives similarly situated, subject to Miracor Diagnostics, Inc.'s right, in any event, to modify or terminate such plan.
Term of Employment; Compensation. The Company agrees to employ Employee effective July 1, 2008 until June 30, 2011, subject to Section 6 below, in a senior managerial capacity, initially as non-executive Chairman of the Board, with the responsibilities normally associated with such position. The Company will pay Employee for his services during the term of the Employee’s employment hereunder and for prior services for which payment has been accrued as provided in Exhibit A hereto. Capitalized terms not defined herein shall have the meanings ascribed to them in Exhibit A.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof as , with the responsibilities normally associated with such position. The term of the Employee’s employment with the Company shall be three years commencing on the date of this Agreement (the “Original Term”) and shall be automatically extended for successive terms of three-years each (each an “Extended Term”) unless and until the Employee’s employment with the Company is terminated pursuant to the terms of this Agreement. The Company will pay Employee for his services during the term of the Employee’s employment hereunder at an annual rate of RMB ¥ (the “Base Salary”), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. The Base Salary will be subject to annual increases at the discretion of the Company’s Board of Directors. Subject to the discretion of the Board of Directors, a certain amount of stock options may be granted to the Employee. Terms and conditions of the stock options shall be set forth in a separate agreement.
Term of Employment; Compensation. The Company agrees to employ Xxxxx X. Xxxxx from the Effective Date, in the full time capacity of Chief Financial Officer and Treasurer of the Company, with the responsibilities normally associated with such position, and employment shall continue until terminated as hereafter provided. The Company will pay Executive for his services at an annual rate of one hundred thousand twenty dollars ($120,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Executive’s performance will be evaluated annually. Executive shall also be entitled to participate in all employee benefit plans of the Company on the same terms and conditions as other employees similarly situated, subject to the Company’s right, in any event, to modify or terminate such plans. The Company shall pay Executive’s individual medical and dental insurance premiums and shall provide paid monthly parking. In addition, Executive shall be eligible to receive such stock options as may be recommended by the Compensation Committee of the Board of Directors (the “Board”) and approved by the Board.
