Common use of Adjustments to Base Salary Clause in Contracts

Adjustments to Base Salary. The base monthly salary shall be automatically increased by Two Thousand Five Hundred Dollars ($2,500) per month each time the Company acheives the following milestones (to be measured at the end of each fiscal quarter): i) achieving One Million Five Hundred Thousand Dollars ($1,500,000) in Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”); ii) upon achieving Two Million Five Hundred Thousand Dollars ($2,500,000) in EBITDA; upon achieving Three Million Five Hundred Thousand Dollar ($3,500,000) in EBITDA; upon acheving Four Million Five Hundred Thousand Dollars ($4,500,000) in EBITDA.

Appears in 3 contracts

Samples: Executive Employment Agreement (Location Based Technologies, Inc.), Executive Employment Agreement (Location Based Technologies, Inc.), Executive Employment Agreement (Location Based Technologies, Inc.)

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Adjustments to Base Salary. The base monthly salary Base Salary shall be automatically increased by Two Thousand Five Hundred Dollars ($2,500) per month upon Company first achieving each time the Company acheives of the following milestones (to be measured at the end of each fiscal quarterquarter on the basis of the trailing twelve (12) months): (i) achieving One Million Five Hundred Thousand Dollars ($1,500,000) in Earnings Before Interest Taxes Interest, Taxes, Depreciation and Amortization (“EBITDA”)) ; (ii) upon achieving Two Million Five Hundred Thousand Dollars ($2,500,000) in EBITDA; upon achieving (iii) Three Million Five Hundred Thousand Dollar ($3,500,000) in EBITDA; upon acheving and (iv) Four Million Five Hundred Thousand Dollars ($4,500,000) in EBITDA.

Appears in 3 contracts

Samples: Executive Employment Agreement (Location Based Technologies, Inc.), Executive Employment Agreement (Location Based Technologies, Inc.), Executive Employment Agreement (Location Based Technologies, Inc.)

Adjustments to Base Salary. The base monthly salary shall be automatically increased by Two One Thousand Five Hundred Dollars ($2,5001,500) per month each time the Company acheives any of the following milestones (to be measured at the end of each fiscal quarter): i) the Company achieves 25,000 activations; ii) achieving One Million Five Hundred Thousand Dollars ($1,500,000) in Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”); iiiii) upon achieving Two Million Five Hundred Thousand Dollars ($2,500,000) in EBITDA; upon achieving Three Million Five Hundred Thousand Dollar ($3,500,000) in EBITDA; upon acheving Four Million Five Hundred Thousand Dollars ($4,500,000) in EBITDA.

Appears in 1 contract

Samples: Executive Employment Agreement (Location Based Technologies, Inc.)

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Adjustments to Base Salary. The base monthly salary shall be automatically increased by Two One Thousand Five Hundred Dollars ($2,5001,500) per month each time the Company acheives any of the following milestones (to be measured at the end of each fiscal quarter): i) the Company achieves 5,000 activations; ii) achieving One Million Five Hundred Thousand Dollars ($1,500,000) in Earnings Before Interest Taxes Depreciation and Amortization (“EBITDA”); iiand iii) upon achieving Two acheving Five Million Five Hundred Thousand Dollars ($2,500,000) in EBITDA; upon achieving Three Million Five Hundred Thousand Dollar ($3,500,000) in EBITDA; upon acheving Four Million Five Hundred Thousand Dollars ($4,500,0005,000,000) in EBITDA.

Appears in 1 contract

Samples: Executive Employment Agreement (Location Based Technologies, Inc.)

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