Base Compensation / Contract Bonuses Sample Clauses

Base Compensation / Contract Bonuses. During the Term, Executive’s salary (the “Base Compensation”) shall be no less than the annualized equivalent of $240,000 beginning June 10, 2010, shall be no less than the annualized equivalent of $260,000 beginning January 1, 2012 and shall be payable at the same times and under the same conditions as salaries are paid to the Company’s other employees. In consideration of the terms and conditions of this Agreement, the Company shall also pay Executive a cash contract bonus in the amount of $75,000 (a “Contract Bonus”) within 30 calendar days of the Executive’s execution of this Agreement and upon each of January 1, 2012, January 1, 2013, January 1, 2014 and January 1, 2015. If the Executive terminates his employment with the Company during the Term, he will not be entitled to any subsequent Contract Bonuses and must repay the most recent Contract Bonus paid to him less a prorated amount of such Contract Bonus equal to the period of employment since the date the Contract Bonus was earned.
Sample 1Sample 2
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Base Compensation / Contract Bonuses. During the Term, Executive’s salary (the “Base Compensation”) during each Contract Year shall be no less than as set forth below, shall be greater than the base compensation paid to any of the Executive’s subordinates and shall be payable at the same times and under the same conditions as salaries are paid to the Company’s other employees. In addition, in consideration of the terms and conditions of this Agreement, Company shall pay Executive the following cash bonuses (a “Contract Bonus”) upon the commencement of each Contract Year of the Term. Contract Year Base Compensation Contract Bonus 1 $ 220,000 $ 50,000 2 $ 240,000 $ 50,000 3 $ 260,000 $ 50,000
Sample 1
Base Compensation / Contract Bonuses. Effective January 1, 2009 through the end of the Term, Executive’s salary (the “Base Compensation”) shall be no less than a monthly rate of thirty-nine thousand dollars ($39,000) and shall be payable at the same times and under the same conditions as salaries are paid to the Company’s other employees.
Sample 1

Related to Base Compensation / Contract Bonuses

  • Base Compensation a. The Company and the Bank agree to pay Executive during the term of this Agreement a base salary at the rate of $ per year, payable in accordance with customary payroll practices.

  • 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”):

  • 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.

  • Base Salary and Incentive Compensation Executive’s initial annual base salary shall be three hundred nine thousand dollars ($309,000). Executive’s base salary shall be redetermined annually by the Board or a Committee thereof. The base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in substantially equal installments on a bi-weekly or more frequent basis. In addition to Base Salary, Executive shall be eligible to receive cash incentive compensation as determined by the Board or a Committee thereof from time to time, and shall also be eligible to participate in such incentive compensation plans as the Board or a Committee thereof shall determine from time to time for employees of the same status within the hierarchy of the Company.

  • 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, 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”).

  • Annual Base Compensation The Company agrees to pay the Executive during the term of this Agreement a salary at the rate of $335,000 per annum, payable in cash not less frequently than monthly.

  • 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.

  • Cash Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

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