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.
Base Salary and Incentive Compensation. Executive’s initial annual base salary (“Base Salary”) shall be $195,000. Executive’s Base Salary shall be redetermined at least thirty (30) days before each annual compensation determination date established by the Company during the Period of Employment in an amount to be fixed by the Board of Directors of the Company or a Committee thereof or a duly authorized officer (the “Board”). The Base Salary, as redetermined, may be referred to herein as “Adjusted Base Salary.” The Base Salary or Adjusted Base Salary shall be payable in substantially equal bi-weekly installments and shall in no way limit or reduce the obligations of the Company hereunder. In addition to Base Salary or Adjusted Base Salary, Executive shall be eligible during the Period of Employment to receive cash incentive compensation as determined by the Board from time to time (the “Incentive Compensation”), and shall be eligible to participate in such incentive compensation plans as the Board shall determine from time to time for employees of the same status within the hierarchy of the Company.
Base Salary and Incentive Compensation. Executive’s initial annual base salary shall be five hundred four thousand seven hundred dollars ($504,700). 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.
Base Salary and Incentive Compensation. Executive’s annual base salary shall be $205,000. Executive’s base salary shall be redetermined annually by the Chief Executive Officer, the Board or a Committee thereof. The annual base salary in effect at any given time is referred to herein as “Base Salary.” The Base Salary shall be payable in a manner consistent with the general payroll policy of the Company. In addition to Base Salary, Executive shall be eligible to participate in such incentive compensation plans and Employee Benefit Plans as the Board or a Committee thereof shall determine from time to time for senior executives of the Company. As used herein, the term “Employee Benefit Plans” includes, without limitation, each pension and retirement plan; supplemental pension, retirement and deferred compensation plan; savings and profit-sharing plan; stock ownership plan; stock purchase plan; stock option plan; life insurance plan; medical insurance plan; disability plan; and health and accident plan or arrangement established and maintained by the Company.
Base Salary and Incentive Compensation. (i) After termination of the Executive's employment as provided in Section 4 above and until the expiration of the Term, the Company will pay to the Executive, as severance compensation and in lieu of any separation payments otherwise provided upon termination of employment under any other severance pay or similar plan or policy of the Company:
Base Salary and Incentive Compensation. The Company shall pay to Executive (i) Executive’s Base Salary (as in effect as of the date of Executive’s termination) and (ii) Incentive Compensation (in an aggregate amount equal to the applicable portion of the Incentive Compensation received by the Executive for the most recent fiscal year prior to Executive’s termination) as follows: Years of Service with Base Payout
Base Salary and Incentive Compensation. Your annual base salary during the Term shall be paid at the annual rate of $250,000 for the remainder of calendar year 1999, $275,000 for the calendar year 2000 and $300,000 for the calendar year 2001 ("Base Salary"), payable in accordance with the Company's standard payroll practices. Unless otherwise specified herein, the Company shall make such deductions, withholdings and other payments from all sums payable pursuant to this Agreement which you request or that are required by law for taxes and other charges.
Base Salary and Incentive Compensation. Executive’s initial annual base salary shall be $260,000. Executive’s base salary shall be redetermined annually by the Board or a Committee thereof; provided, that following a Change in Control (as defined below), Executive’s base salary may not be reduced except for across-the-board reductions similarly affecting all or substantially all management employees. 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 bi-weekly installments. 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.
Base Salary and Incentive Compensation. Effective as of August 16, 2002, Executive's initial annual base salary shall be $155,000 while employed by the Company in the United States. At the completion of the expatriate assignment and return to MPL, Executive's base salary shall be determined by the Chief Executive Officer and approved by the Board of Directors based on competitive salary conditions at that time in Australia. Executive's base salary shall be redetermined annually by the Chief Executive Officer, the Board or a Committee thereof. The annual base salary in effect at any given time is referred to herein as "Base Salary." The Base Salary shall be payable in a manner consistent with the general payroll policy of the Company or MPL, as the case may be. In addition to Base Salary, Executive shall be eligible to participate in such incentive compensation plans and Employee Benefit Plans as the Board or a Committee thereof shall determine from time to time for senior executives of the Company. As used herein, the term "Employee Benefit Plans" includes, without limitation, each pension and retirement plan; supplemental pension, retirement and deferred compensation plan; savings and profit-sharing plan; stock ownership plan; stock purchase plan; stock option plan; life insurance plan; medical insurance plan; disability plan; and health and accident plan or arrangement established and maintained by the Company or MPL and applicable to employees resident in the country of residence of the Executive. Nothing in this Agreement shall serve to modify or diminish any accumulated benefits to which Executive shall otherwise be entitled.
Base Salary and Incentive Compensation. Soffe shall continue to pay to Executive (i) his Base Salary (as in effect as of the date of such termination) that would have been payable hereunder to Executive from the date of such termination through the End Date, and (ii) any Incentive Compensation payable pursuant to subsection 2(b) of this Agreement, calculated as if Executive were still an employee of Soffe through the End Date.
