Adjustments to Base Compensation Sample Clauses

Adjustments to Base Compensation. The Base Compensation shall be adjusted annually to reflect the increase, if any, in the cost-of-living by adding thereto an amount obtained by multiplying the Base Compensation by the percentage of which the level of the Consumer Price Index for the United States has increased over its level as of the date of commencement of the term of Agreement (herein called, together with Base Compensation, the “Adjusted Base Compensation”). Following the end of each year of this Agreement and within thirty (30) days after the release of the United States Bureau of Labor Statistics of the figures for such year, Bank shall pay to the Executive Vice President the amount of any additional compensation to which he is entitled as a result of such cost-of-living adjustment.
Sample 1Sample 2See All (6)
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Adjustments to Base Compensation. The Base Compensation shall be adjusted annually to reflect the increase, if any, in the cost-of-living by adding thereto an amount obtained by multiplying the Base Compensation by the percentage of which the level of the Consumer Price Index for the United States has increased over its level as of the date of commencement of the term of Agreement (herein called, together with Base Compensation, the "Adjusted Base Compensation"). Following the end of each year of this Agreement and within thirty (30) days after the release of the United States Bureau of Labor Statistics of the figures for such year, Bank shall pay to the Employee the amount of any additional compensation to which he is entitled as a result of such cost-of-living adjustment.
Sample 1Sample 2See All (6)
Adjustments to Base Compensation. On October 1, 1998 (the "Adjustment Date"), Langxxx'x xxxe salary, as set forth in subsection 3(a) above, shall be increased for and in the same proportion as the increase, subsequent to September 30, 1997 in the Consumer Price Index for Urban Wage Earners in the Los Angeles-Long Beach Area ("CPI"), but not to exceed twelve percent (12%). On each succeeding anniversary of the Adjustment Date during the Employment Term, Langxxx'x xxxe annual salary, as previously adjusted and in effect on the day immediately preceding such anniversary date, shall be further increased for and in the same proportion as the increase in the CPI during the immediately preceding twelve (12) months, but not to exceed twelve percent (12%). In the event publication of the CPI is discontinued during the Employment Term, the parties shall utilize for purposes hereof such other index or indices as are generally accepted in the business community as being the most equivalent index or indices to the CPI. In addition, subject to the approval of its Board of Directors, the Bank may further increase Langxxx'x xxxic salary hereunder at any time or times during the term of this Agreement.
Sample 1
Adjustments to Base Compensation. (a) For each working day during any Contract Year (after February 22, 1999 solely with respect to the First Contract Year) that the [**], the installment of Base Compensation to be paid by WL for the fourth Contract Quarter of such Contract year shall be reduced by an amount equal to (i) [**], times (ii) the number [**] on such day. (b) In the event that actual Rxs exceed Target Rxs for a Contract Year, the installment of Base Compensation to be paid by WL for the fourth Contract Quarter of such Contract Year will be increased by an amount equal to (i) [**] for the First Contract Year and (ii) [**] for the second Contract Year, for each whole [**] increment by which actual Rxs exceed Target Rxs in such Contract Year. Such payment amounts in subsequent Contract Years shall be negotiated in good faith by the parties hereto. (c) In the event that Target Rxs exceed actual Rxs for a Contract Year, the installment of Base Compensation to be paid by WL for the fourth Contract Quarter of such Contract Year will be reduced by [**] of total Base Compensation for such Contract Year for each whole [**] increment by which Target Rxs exceed actual Rxs in such Contract Year; provided, that in no event shall the application of this provision alone reduce the total Base Compensation for such Contract Year (as provided in Section 1 above) by more than [**] and provided, further, that if the application of this clause (c) together with clause (d) below would reduce the total Base Compensation in a Contract Year by more than [**], as between clauses (c) and (d), only the provision resulting in the greater reduction of Base Compensation for such Contract Year shall be applied (and not both). (d) In the event that the Ascent Sales Force fails to deliver at least [**] of the Target Details in any Contract Year, the installment of Base Compensation to be paid by WL for the fourth Contract Quarter of such Contract Year will be reduced by [**] of total Base Compensation for such Contract Year (as provided in Section 1 above) for each whole [**] increment by which such number of Target Details exceeds the number of Details actually performed by the Ascent Sales Force during such Contract Year. (e) Tables A-1 and A-2 attached hereto set forth, by way of example, the adjustment to Base Compensation pursuant to clauses (b) and (c) for the first two Contract Years.
Sample 1

Related to Adjustments to Base Compensation

  • Base Compensation The Bank agrees to pay the Employee during the ----------------- term of this Agreement a salary at the rate of $76,000 per annum, payable in cash not less frequently than monthly; provided, that the rate of such salary shall be reviewed by the Board of Directors of the Bank not less often than annually, and Employee shall be entitled to receive annually an increase at such percentage or in such an amount as the Board of Directors in its sole discretion may decide.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Reduction of Compensation If the Firm fails to meet the submission date by less than thirty days for the draft report and/or working papers submitted to the Office of the State Auditor for review and approval or by less than thirty days from the completion date for the final reports and/or corrections to the working papers prescribed herein, the District may, with the consent of the Office of the State Auditor, reduce the agreed compensation by an amount not to exceed ten percent of the total contract price for the applicable fiscal year. If reports and/or corrections to the working papers are overdue by 30 days or more, the District may reduce, with the consent of the Office of the State Auditor, the agreed compensation by an amount not to exceed twenty percent of the total contract price for the Rev. 10/20 applicable fiscal year.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Payment of Compensation Consultant shall submit to City a monthly itemized statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. City shall, within 30 days of receiving such statement, review the statement and pay all approved charges thereon.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $550,000 per annum (as increased from time to time, the “Annual Base Salary”), which shall be paid in accordance with the customary payroll practices of the Company. Such Annual Base Salary shall be reviewed (and may be increased, but not decreased) from time to time by the Board or an authorized committee of the Board.

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

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