Common use of Adjustments in Compensation Clause in Contracts

Adjustments in Compensation. For each subsequent fiscal year of the Company during the Term of Employment, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) shall review Executive’s Total Annual Compensation in good faith in accordance with the Company’s customary procedures and practices as in place from time to time regarding the total compensation of senior executives, and, subject to Executive’s right to terminate his employment for Good Reason (as defined in Section 6.2(d) hereof), may adjust the amount of Executive ’s Total Annual Compensation, and the portion thereof payable in Base Salary and in the form of Restricted Share Awards.

Appears in 3 contracts

Samples: Employment Agreement (Rand Logistics, Inc.), Employment Agreement (Rand Logistics, Inc.), Employment Agreement (Rand Logistics, Inc.)

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Adjustments in Compensation. For each subsequent fiscal year of the Company during the Term of EmploymentEmployment following the Company’s fiscal year ending March 31, 2015, the Compensation Committee of the Company’s Board of Directors (the “Compensation Committee”) shall review Executive’s Total Annual Compensation in good faith in accordance with the Company’s customary procedures and practices as in place from time to time regarding the total compensation of senior executives, and, subject to Executive’s right to terminate his employment for Good Reason (as defined in Section 6.2(d) hereof), may adjust the amount of Executive ’s Total Annual Compensation, and the portion thereof payable in Base Salary and in the form of Restricted Share Awards.

Appears in 1 contract

Samples: Employment Agreement (Rand Logistics, Inc.)

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