Compensation During Term of Employment Sample Clauses

Compensation During Term of Employment. 4.1 In the event of a Change in Control, the Company shall pay or cause to be paid to Employee during the Term of Employment such salary and incentive bonus compensation as may be determined by the Board of Directors of the Company, paid in accordance with the Company's normal payroll practices; provided that in no event shall Employee's salary in any year of the Term of Employment be less than the annual level thereof immediately prior to the date of such Change in Control, and incentive bonus compensation in any year of the Term of Employment shall be no less than the average annual incentive bonus compensation paid by the Company to the employee during the three (3) fiscal years ending prior to the Change in Control.
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Compensation During Term of Employment. Employee will be provided with the following salary, expense reimbursement and additional employee benefits during the Term of employment hereunder:
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Compensation During Term of Employment. As compensation for Employee's services hereunder during the Term of Employment, and in consideration of Employee's agreement contained herein, Employer shall pay Employee an annual base salary of $165,000.00 paid in accordance with Employer's normal pay schedules on a semi-monthly basis, with appropriate taxes and withholdings deducted therefrom as required of or by Employer. In addition, Employee shall receive a bonus ("EBITDA Bonus") each calendar year based on the earnings before federal income taxes, any state taxes based on income or receipts, depreciation and amortization of the Employer ("EBITDA"). If EBITDA in any calendar year during the term of this Agreement is five percent (5.0%) or more but less than ten percent (10%) of the gross revenues of the Employer for such calendar year, Employer shall pay Employee a bonus equal to ten percent (10.0%) of Employee's base salary for such calendar year and if EBITDA for any calendar year during the term of this Agreement is equal to or more than ten percent (10%) of gross revenues of the Employer for such calendar year, Employer shall pay Employee a bonus equal to twenty percent (20%) of Employee's base salary for such calendar year. Such cash bonuses, if any, will be paid prior to March 31 of the year following each calendar year during the term of this Agreement. Notwithstanding the above, Employee shall only be entitled to such cash bonus if he is employed at the end of such calendar year and through the earlier of (i) the date the bonus is paid, or (ii) March 31 of the year following the calendar year for which such bonus is calculated.
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Compensation During Term of Employment 
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Related to Compensation During Term of Employment

  • During the Term of Employment (a) Executive shall be eligible to participate in any life, health and long-term disability insurance programs, pension and retirement programs, stock option and other incentive compensation programs, and other fringe benefit programs made available to senior executive employees of the Company from time to time, and Executive shall be entitled to receive such other fringe benefits as may be granted to him from time to time by the Company's Board of Directors.

  • Compensation Following Termination of Employment In the event that Executive's employment hereunder is terminated, Executive shall be entitled to the following compensation and benefits upon such termination:

  • Termination of Employment Period The employment of the Employee by the Company pursuant to this Agreement shall terminate upon the occurrence of any of the following:

  • Period of Employment The “Period of Employment” shall be a period of three (3) years commencing on the Employment Commencement Date and ending at the close of business on the third (3rd) anniversary of the Employment Commencement Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives notice, in writing, at least thirty (30) days prior to the expiration of this Agreement and the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Agreement or modify its terms. The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Constructive Termination” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Term of Employment; Termination (a) The “

  • Expiration of Employment Period If Executive’s employment shall be terminated due to the normal expiration of the Employment Period, this Agreement shall terminate without further obligations to Executive, other than for payment of Accrued Obligations and the timely payment or provision of Other Benefits.

  • Expiration of Employment Term Unless the parties otherwise agree in writing, continuation of Executive’s employment with the Company following the expiration of the Employment Term shall be deemed an employment at-will and shall not be deemed to extend any of the provisions of this Agreement and Executive’s employment may thereafter be terminated at will by either Executive or the Company; provided that the provisions of Sections 6, 7 and 8 of this Agreement shall survive any termination of this Agreement or Executive’s termination of employment hereunder.

  • Term of Employment The Executive’s employment under this Agreement will commence on the date hereof and will continue for a period of one (1) year thereafter, subject to earlier termination as provided in Section 8 (the “Term”). This Agreement and the Term will be automatically renewed and extended for periods of one (1) year unless the Company or the Executive provides written notice no less than thirty (30) days prior to the expiration of the then-current Term of its or the Executive’s desire not to renew this Agreement.

  • Duties During the Period of Employment As Employer’s Executive Vice President and Chief Operating Officer, Employee shall have full responsibility, subject to the control of Employer’s President and Chief Executive Officer and/or the authorized designee of Employer’s Board of Directors, for the supervision of all assigned aspects of Employer’s business and operations, including all activities related to banking, operations, wealth management, insurance and employee benefit services, and the discharge of such other duties and responsibilities to Employer, not inconsistent with such position, as may from time to time be reasonably assigned to Employee by Employer’s President and Chief Executive Officer, or the authorized designee of Employer’s Board of Directors. Employee shall report to Employer’s President and Chief Executive Officer. Employee shall devote Employee’s best efforts to the affairs of Employer, serve faithfully and to the best of Employee’s ability and devote all of Employee’s working time and attention, knowledge, experience, energy and skill to the business of Employer, except that Employee may affiliate with professional associations, and business, civic and charitable organizations, provided that such affiliations are not inconsistent with and do not interfere with the performance of Employee’s duties under this Agreement. Employee shall serve on the Board of Directors of, or as an officer of Employer’s affiliates, without additional compensation if requested to do so by the Board of Directors of Employer. Employee shall receive only the compensation and other benefits described in this Agreement for Employee’s services to affiliates of Employer.

  • Qualifying Termination of Employment A “Qualifying Termination of Employment” shall mean a termination of Executive’s employment during the Protected Period either (a) by the Company other than for Cause or (b) by Executive for a Good Reason. A termination of employment due to the Executive’s death or Disability during the Protected Period shall not constitute a Qualifying Termination of Employment.

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