Term Compensation. The Bank shall pay to Executive as compensation for his services during the Term hereunder an annual salary equal to his current salary with the Bank, which annual salary shall be paid in regular installments in accordance with the Bank’s general payroll practices, including those related to withholding for taxes, insurance and similar items. In no event shall Executive’s annual salary for any year be less than his annual salary in effect for the year 2001.
Term Compensation. 2.1 The term of this Agreement shall run from the Effective Date through the later of (a) March 15, 2020, and (b) the date on which Consultant is no longer entitled to any further vesting of Shares (as defined below) in accordance with this Agreement or the Separation Agreement (the “Term”), subject to earlier termination as set forth in this Agreement. This Agreement shall automatically end at the expiration of the Term (with the exception of any obligations of Consultant that continue, as set forth in this Agreement).
Term Compensation. 3.1. The Agreement has an initial one-year term, which will automatically be extended for additional two-year periods upon the completion of the initial one-year term or any two-year extension period thereafter until (i) the Executive voluntarily terminates employment or (ii) TPR gives contrary written notice to the Executive at least 60 days prior to the completion of the initial one-year term or any two-year extension period thereafter.
Term Compensation. The term of this Agreement shall be four (4) years. Xxxxxxxx shall receive as compensation for this Agreement cash in the amount of 0.32 times the twelve month trailing EBITDA (EBITDA, is comprised of revenues less all operating expenses, net of depreciation, amortization, taxes and interest)of MRI Services, LC and Ultra Diagnostics, LLC, measured as of December 31, 1999, based upon generally accepted accounting practices, bearing interest at eight (8) percent per annum. This amount shall be paid in installments as follows: $62,500 of this amount plus accrued interest on the entire amount due shall be paid on August 9, 2000; $62,500 of the amount plus accrued interest on the entire remaining amount due shall be paid on November 9, 2000; and the remaining amount plus accrued interest on the said entire remaining amount due shall be paid on November 9, 2001; and
Term Compensation. This Agreement shall commence as and when provided in the Employment Agreement between the Company and Txxx X. Xxxx, the principal of Contractor, originally entered into on October 20, 2003, and amended pursuant to the First Amendment to Employment Agreement dated October 5, 2005, and the Second Amendment to Employment Agreement dated July 19, 2008, which date is referred to herein as the “Effective Date”. This Agreement shall govern the parties’ relationship and shall terminate by its terms upon the first to occur of (i) the eighteenth (18) month following the Effective Date, or (ii) a Change of Control (as defined below), unless (iii) earlier terminated as provided in this Agreement (“Termination Date”). For Services performed, NutraCea shall pay Contractor a gross amount of $15,000 per month, due the first day of the month for the first twelve (12) months following the Effective Date. NutraCea shall pay Contractor a gross amount of $7,500 for the remaining six (6) months of the term of this Agreement, provided that Txxx X. Xxxx, directly and/or through Contractor or any other successor in interest, has not exercised (from the options granted by NutraCea to Contractor or to Txxx X. Xxxx) options to acquire more than one hundred and ten thousand (110,000) shares of stock in NutraCea. If Txxx X. Xxxx and/or Contractor (directly and/or through any successor) has exercised options to acquire more than one hundred and ten thousand (110,000) shares of stock in NutraCea, this Agreement shall terminate the earlier of (i) twelve (12) months following the Effective Date or (ii) at the time of exercise. Upon a termination of this Agreement due to a Change of Control, NutraCea shall pay to Contractor all amounts payable hereunder for the balance of the full eighteen (18) month term. Such unpaid balance shall be payable in a one lump sum within 30 days of the Change of Control event. This Agreement also shall terminate prior to its Termination Date immediately upon and by reason of Txxx X. Xxxx’x death or Permanent Disability, in which event the Company shall pay to the Contractor the unpaid balance of any compensation owed to the Contractor pursuant to the terms hereof. Such unpaid balance shall be payable in a one lump sum within 30 days of death or disability event. All payments to Contractor under this Agreement will be by bank check and in United States dollars. For purposes of this Agreement, “Change of Control” of NutraCea is defined as the date of (i) the con...
Term Compensation. The term of this AGREEMENT shall be effective as of the date hereof and shall be perpetual of such date, and subject to the right of either party hereto to cancel the AGREEMENT at any time upon not less than thirty (30) days written notice by certified mail of one party to another. XXXXXXX agrees to pay DISPATCHER a minimum of (3%) THREE to (8%) EIGHT PERCENT of the face value of the contract between the SHIPPER/BROKER, CARRIER as stated on the FREIGHT rate confirmation sheet. Compensation percentage varies based on the following: • *3% when rate per mile is less than 2; • **5% when rate per mile is from 2 to less than 4; • **8% when rate per mile is 4 and greater. *Introductory offer for the first month on all rate per mile and applicable to the specified rate per mile thereafter. **Compensation percentages after the first month as specified. Example: Face value on rate confirmation sheet $1000.00. Trip miles for delivery is 400 miles. 𝑹𝒂𝒕𝒆 𝒑𝒆𝒓 𝒎𝒊𝒍𝒆 = 𝑭𝒂𝒄𝒆 𝒗𝒂𝒍𝒖𝒆 𝒐𝒏 𝑹𝒂𝒕𝒆 𝑪𝒐𝒏𝒇𝒊𝒓𝒎𝒂𝒕𝒊𝒐𝒏 𝒔𝒉𝒆𝒆𝒕 𝐓𝐫𝐢𝐩 𝐦𝐢𝐥𝐞𝐬 𝐟𝐨𝐫 𝐝𝐞𝐥��𝐯𝐞𝐫𝐲 𝑹𝒂𝒕𝒆 𝒑𝒆𝒓 𝒎𝒊𝒍𝒆 (𝒓𝒑𝒎) = 𝟏𝟎𝟎𝟎 𝟒𝟎𝟎 = $2.5 𝑟𝑝𝑚 Therefore, the compensation percentage for this transaction would be 5% of the face value on the Freight Rate confirmation sheet. $𝟏𝟎𝟎𝟎. 𝟎𝟎 × 𝟓% = $𝟓𝟎. 𝟎𝟎 Xxxxxxx further agrees to pay DISPATCHER at the time of securing FREIGHT.
Term Compensation a. TERM — Starting on January 1, 2004 for a term of 3 years.
Term Compensation. RENEWAL. Employer agrees to employ Employee for an initial term of three (3) years ("Initial Term"), effective as of April 1, 1993 ("Effective Date"), and to compensate Employee as described on Exhibit A attached hereto and incorporated herein by this reference. Upon the expiration of the Initial Term, this Agreement shall renew for one (1) year terms; provided that this Agreement shall not renew if either party gives written notice to the other not less than thirty (30) days prior to the end of the Initial Term (or any renewals thereof) of its intent not to renew the Agreement, and provided further that either party may terminate this Agreement at any time after the Initial Term, with or without cause, upon the giving of thirty (30) days written notice to the other of its intent to do so. If this Agreement is terminated by either party on thirty (30) days notice, Employee shall continue to render services faithfully during such period and his employment hereunder shall terminate at the end of the notice period. At its sole option, Employer may elect to pay Employee, as severance pay, the base salary due Employee for the unexpired portion of the notice period, thereby immediately terminating Employee's employment in lieu of permitting Employee to continue performing his duties during the notice period. Except as limited in the next following sentence, Employee's compensation shall be reviewed by Employer not less frequently than annually during the term of this Agreement and any extensions or renewals thereof, may be adjusted upward or downward in Employer's sole exercise of its reasonable business discretion and shall be full compensation for all services performed by Employee under this Agreement. During the Initial Term, Employee's compensation may be reduced only for "Cause."
Term Compensation. The term of this Agreement shall be two (2) years from the Effective Date of this Agreement (the “Term”). Seller shall receive $100 in consideration of this Agreement in each of the two years.
Term Compensation. The Executive is hereby employed by the Banks for a period of twelve (12) years, commencing the 30th day of May, 2000, with an annual salary of $260,000, plus incentive bonuses. Such salary and bonuses are subject to increase or decrease as determined by the Boards of Directors of the Banks ("Boards").
