Common use of Base Salary and Incentive Compensation Clause in Contracts

Base Salary and Incentive Compensation. Executive's initial annual base salary shall be $190,000. 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.

Appears in 1 contract

Samples: Executive Employment Agreement (Optium Corp)

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Base Salary and Incentive Compensation. Executive's ’s initial annual base salary shall be $190,000282,150. Executive's ’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 ’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.

Appears in 1 contract

Samples: Executive Employment Agreement (Finisar Corp)

Base Salary and Incentive Compensation. Executive's ’s initial annual base salary shall be $190,000260,000. Executive's ’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 ’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.

Appears in 1 contract

Samples: Executive Employment Agreement (Finisar Corp)

Base Salary and Incentive Compensation. Executive's initial ’s annual base salary shall be initially continue at its current level of $190,000518,000. Executive's ’s base salary shall be reviewed and redetermined annually by the Board or a Committee thereof; provided, that following thereof on an annual basis commencing with the end of the Company’s 2005 fiscal year (such review to occur at such time as the Board or a Change in Control (as defined belowCommittee thereof reviews compensation levels for other executive officers of the Company), 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 bitwice-weekly monthly 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.

Appears in 1 contract

Samples: Executive Employment Agreement (Circor International Inc)

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Base Salary and Incentive Compensation. Executive's initial annual base salary shall be $190,000250,000. 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.

Appears in 1 contract

Samples: Executive Employment Agreement (Optium Corp)

Base Salary and Incentive Compensation. Executive's ’s initial annual base salary shall be $190,000444,000. Executive's ’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 ’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.

Appears in 1 contract

Samples: Executive Employment Agreement (Finisar Corp)

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