ANNUAL SALARY INCREASE; ANNUAL BONUS Sample Clauses

ANNUAL SALARY INCREASE; ANNUAL BONUS. On each January 1 during the Employment Term, the Employee shall receive an annual salary increase equal to the greater of (i) 3% of the Employee’s then current Annual Base Salary (which Annual Base Salary shall, during the period commencing on the Effective Date through the earlier of (i) the date on which the Company satisfies the Capital Deployment Hurdle or (ii) July 31, 2012, be deemed to be for this purpose $400,000), or (ii) the annual percentage increase cost of living in the city of New York as determined by the Compensation Committee of the Board. In addition, during the Employment Term, the Employee shall be eligible to receive an annual discretionary incentive payment under the Company’s annual cash bonus plan as in effect from time to time equal to either 50%, 75% or 125% of the Employee’s then current Annual Base Salary (the “Annual Bonus”), upon the attainment of one or more pre-established performance goals established by the Compensation Committee and approved by the Board, which shall include, but not be limited to, operating the Company in a safe and sound manner and complying with all federal or state laws, rules and regulations.
Sample 1Sample 2Sample 3See All (4)
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ANNUAL SALARY INCREASE; ANNUAL BONUS. During the Employment Term, Employee shall receive an annual salary increase equal to the greater of (i) 3% of Employee’s Initial Base Salary or Continuing Base Salary, as the case may be, or (ii) the annual percentage increase cost of living in the city of New York as determined by the Compensation Committee of the Board. In addition, during the 2 Employment Term, the Employee shall be eligible to receive an annual discretionary incentive payment under the Company’s annual cash bonus plan as in effect from time to time equal to either 50%, 75% or 125% of Employee’s Initial Base Salary or Continuing Base Salary, as the case may be (the “Annual Bonus”), upon the attainment of one or more pre-established performance goals established by the Company’s Compensation Committee and approved by the Company’s Board of Directors, which shall include, but not be limited to, operating the Company in a safe and sound manner and complying with all federal or state laws, rules and regulations.
Sample 1See All (4)
ANNUAL SALARY INCREASE; ANNUAL BONUS. On each January 1 during the Employment Term, the Employee shall receive an annual salary increase equal to the greater of (i) 3% of the Employee’s then current Annual Base Salary (which Annual Base Salary shall, during the period commencing on the Effective Date through December 31, 2011, be deemed to be for this purpose $400,000), or (ii) the annual percentage increase cost of living in the city of New York as determined by the Compensation Committee of the Board. In addition, during the Employment Term, the Employee shall be eligible to receive an annual discretionary incentive payment under the Company’s annual cash bonus plan as in effect from time to time equal to either 50%, 75% or 125% of the Employee’s then current Annual Base Salary (the “Annual Bonus”), upon the attainment of one or more pre-established performance goals established by the Company’s Compensation Committee and approved by the Company’s Board of Directors, which shall include, but not be limited to, operating the Company in a safe and sound manner and complying with all federal or state laws, rules and regulations.
Sample 1See All (4)

Related to ANNUAL SALARY INCREASE; ANNUAL BONUS

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • Salary Increases During the period of employment as provided in Paragraph 1(b) hereof, the base salary of the Executive shall be reviewed no less frequently than annually by the Board or the Compensation Committee of the Board to determine whether or not the same should be increased in light of the duties and responsibilities of the Executive and the performance thereof, and if it is determined that an increase is merited, such increase shall be promptly put into effect and the base salary of the Executive as so increased shall constitute the base salary of the Executive for purposes of Paragraph 3(a).

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • 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 Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Base Salary and Incentive Compensation The Company shall pay to Executive (i) his Base Salary (as in effect as of the date of his termination) and (ii) Incentive Compensation (in an aggregate amount equal to the applicable portion of the cash Incentive Compensation received by the Executive for the most recent fiscal year prior to his termination) as follows: Years of Base Payout Service Salary Incentive Compensation Period Less than one 3 months 25% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 3 months One but less than two 6 months 50% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 6 months Two but less than three 9 months 75% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 9 months Three or More 12 months 100% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 12 months To the extent permitted under Code Section 409A, the sum of applicable Base Salary and Incentive Compensation shall be divided into equal monthly payments and paid to the Executive over the applicable Payout Period shown in the table above, depending on the Executive’s years of service at the time of Termination.

  • 1Base Salary During the Period of Employment, the Company shall pay the Executive a base salary (the “Base Salary”), which shall be paid biweekly or in such other installments as shall be consistent with the Company’s regular payroll practices in effect from time to time. The Executive’s Base Salary shall be at an annualized rate of Seven Hundred Thousand dollars ($700,000.00). The Compensation Committee of the Board (the “Compensation Committee”) will review the Executive’s rate of Base Salary on an annual basis and may, in its sole discretion, increase (but not decrease) the rate then in effect.

  • Base Salary The Company shall pay to Executive a base salary (“Base Salary”) of $250,000 per year, payable in accordance with the payroll policies from time to time in effect at the Company. Executive’s Base Salary may be subject to increase (but shall not be subject to decrease) on an annual basis as the Board of Directors of the Company or any committee thereof (the “Board of Directors”) shall determine.

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

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