Base Compensation and Bonus. (a) The Executive shall receive annual base compensation during the Term of this Agreement of not less than $825,000 in cash (“Base Compensation”). Such amounts shall be payable in substantially equal semi-monthly installments. Subject to the terms of this Agreement, during the Term, the Compensation Committee of the Board (the “Compensation Committee”) shall consult with the Executive and review the Executive’s Base Compensation at annual intervals, and may adjust the Executive’s annual Base Compensation from time to time.
Base Compensation and Bonus. X.X.X. shall pay EMPLOYEE as base --------------------------- compensation for all services to be rendered by EMPLOYEE compensation of $415,000 Thousand Dollars for the period 1 Jul. 2002 through 30 Jun. 2003, $430,000 Thousand Dollars for the period 1 July 2003 through 30 Jun. 2004 and $445,000 for the period 1 Jul. 2004 through 30 Jun. 2005. Each base compensation amount is respective and specific to the time period of which the EMPLOYEE'S service
Base Compensation and Bonus. During the Employment Term, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, as a base salary for the full-time employment referred to in Section 1 hereof, compensation (“Base Compensation”) at the rate of Forty-One Thousand Two Hundred and Fifty Dollars ($41,250) per calendar month (a rate equivalent to $495,000 per annum), less standard payroll deductions and tax withholdings. Said Base Compensation shall be payable in intervals not less than twice a month in accordance with Company payment policy for executives in effect from time to time. Executive’s Base Compensation will be subject to adjustment from time to time as determined by the Board.
Base Compensation and Bonus. Effective November 1, 2008, Employee's base rate of annual compensation shall be increased to $300,000.00, and shall thereafter be increased (but not thereafter decreased) periodically upon review of Employee's performance by the Board ("BASE COMPENSATION"). Employee shall also be eligible for an incentive bonus, upon terms and conditions to be established by the Board, for an annual amount up to and not to exceed 50% of Base Compensation.
Base Compensation and Bonus. (a) During the first 30 months of the Employment Term, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, a base salary for the full time employment referred to in Section 1 hereof of $265,000 per year ("Salary"), and a bonus of. $135,000 per year ("Bonus"), of which 50% shall be guaranteed and 50% shall be subject to Executive meeting certain minimum operating results as established by the Board of Directors or the compensation committee thereof during the first quarter of each year of the Employment Term. Salary shall be payable in intervals of not less than twice a month in accordance with the Company's payment policy for executives in effect from time to time. The Bonus shall be payable within ten (10) days from the time the amount of Bonus has been determined, but in any case not later than February 15, 2003 for the first year of the Employment Term and February 15, 2004 for the second year of the Employment Term.
Base Compensation and Bonus. The Executive shall receive annual base compensation during the Term of this Agreement of not less than $1,000,000 in cash (“Base Compensation”). Such amounts shall be payable in substantially equal semi-monthly installments in accordance with the Corporation’s customary payroll practices. Subject to the terms of this Agreement, during the Term, the Compensation Committee of the Board (the “Compensation Committee”) shall consult with the Executive and review the Executive’s Base Compensation at annual intervals, and may adjust the Executive’s annual Base Compensation from time to time. The Executive shall also be eligible to receive an annual incentive cash bonus for each calendar year ending during the Term of this Agreement with target bonus of 175% of Base Compensation, with the actual amount of such bonus to be determined by the Compensation Committee, using such performance measures as the Compensation Committee deems to be appropriate. Such bonus, if any, shall be paid to the Executive no later than sixty (60) days after the end of the year to which the bonus relates. Except as otherwise provided in Sections 5 or 6, (i) the annual bonus will be subject to the terms of any Corporation bonus plan under which it is granted and (ii) in order to be eligible to receive an annual bonus, the Executive must be employed by the Corporation on the last day of the applicable calendar year.
Base Compensation and Bonus. During the Employment Term, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, a base salary for the full time employment referred to in Section 1 hereof of $260,000 per year (“Salary”), or such higher amount as approved by the Company’s Board of Directors or any committee thereof. Executive shall be eligible to receive an annual bonus (“Bonus”), of $90,000, or such higher amount as approved by the Company’s Board of Directors or any committee thereof, based upon performance standards as established in writing by the President and Chief Executive Officer of LeapFrog and the Board of Directors, with consultation with Executive, provided Executive is employed as of December 31 of the year of the Bonus.
Base Compensation and Bonus. From April 1, 2002 through December 31, 2003, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, a base salary for the employment referred to in Section 1 hereof of $265,000 per year ("Salary"), and a bonus of $135,000 per year ("Bonus"), of which 50% shall be guaranteed and 50% shall be subject to Executive meeting certain minimum operating results as established by the Board of Directors or the compensation committee thereof during the first quarter of each year of the Employment Term. From January 1, 2004 through March 31, 2005, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, a base salary for the employment referred to in Section 1 hereof of $132,500 per year ("Salary"), and a bonus of $67,500 per year ("Bonus"), under the same terms mentioned above. Salary shall be payable in intervals of not less than twice a month in accordance with the Company's payment policy for executives in effect from time to time. The Bonus shall be payable within ten (10) days from the time the amount of Bonus has been determined, but in any case not later than February 15th of the following calendar year. For any days of service provided by Executive to the Company over and above those set forth in Section 1.1 above, the Company shall pay Executive at a rate of $2,000 per day.
Base Compensation and Bonus. Section 2.1 of the Employment Agreement shall be modified to read: "From April 1, 2002 through December 31, 2003, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, a base salary for the employment referred to in Section 1 hereof of $265,000 per year ("Salary"), and a bonus of $135,000 per year ("Bonus") of which 70% shall be guaranteed and 30% shall be subject to Executive meeting certain minimum operating results as established by the Board of Directors or the Compensation Committee thereof during the first quarter of each year of the Employment Term. From January 1, 2004 through March 31, 2005, the Company shall pay to Executive, and Executive shall be entitled to receive from the Company, a base salary for the employment referred to in Section 1 hereof of $132,500 per year ("Salary"), and a bonus of $67,500 per year ("Bonus"), under the same terms mentioned above. Salary shall be payable in intervals of not less than twice a month in accordance with the Company's payment policy for executives in effect from time to time. The Bonus shall be payable within ten (10) days from the time the amount of Bonus has been determined, but in any case not later than February 15th of the following calendar year. For any days of service provided by Executive to the Company over and above those set forth in Section 1.1 above, the Company shall pay Executive at a rate of $2,000 per day."
Base Compensation and Bonus. The Company shall pay the Employee as --------------------------- compensation for his services a base salary at the annualized rate of $200,000 (the "Base Compensation") beginning February 18, 1998 and continuing through February 18, 1999. In addition, the Company shall pay the Employee an additional incentive bonus (the "Bonus") in the amount of up to $100,000, $50,000 of which will be based upon the Company's achievement of those certain milestones set forth on Exhibit A hereto and $50,000 of which will be based upon milestones to --------- be agreed to by Employee and the Company's Board of Directors. Base Compensation and Bonus shall be subject to applicable tax withholding and shall be paid periodically in accordance with normal Company payroll practices, and such Bonus shall be determined and paid twice yearly, on or about August 18 and February 18 of each year. The Company covenants and agrees that, prior to November 1, 1998, the Company's Board of Directors, or the compensation committee thereof, will propose target Base Compensation and Bonus amounts for payment to the Employee during the twelve months ending February 17, 2000.
