Adjustments to Base Salary. The Compensation Committee of the Board (or in the absence of a compensation committee, the Board committee performing equivalent functions or the entire Board of Directors of the Company) shall review the Base Salary of the Employee and determine whether to adjust it; provided however that the Base Salary for any fiscal year shall not be less than the initial Base Salary to be paid to the Employee hereunder. The first such review shall occur prior to July 1, 1998 (California time); thereafter, such reviews shall occur within three months of the end of each of the Company's fiscal years, commencing with the Company's fiscal year ending December 31, 1998.
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Samples: Employment Agreement (SRS Labs Inc), Employment Agreement (SRS Labs Inc)
Adjustments to Base Salary. The Compensation Committee of the Board (or in the absence of a compensation committee, the Board committee performing equivalent functions or the entire Board of Directors of the Company) shall review the Base Salary of the Employee and determine whether to adjust it; provided however that the Base Salary for any fiscal year shall not be less than the initial Base Salary to be paid to the Employee hereunder. The first such review shall occur prior to July 1, 1998 (California timeTime); thereafter, such reviews shall occur within three months of the end of each of the Company's fiscal years, commencing with the Company's fiscal year ending December 31, 1998.
Appears in 1 contract
Samples: Employment Agreement (SRS Labs Inc)
Adjustments to Base Salary. The Compensation Committee of the Board (or in the absence of a compensation committee, the Board committee performing equivalent functions or the entire Board of Directors of the Company) shall review the Base Salary of the Employee and determine whether to adjust it; provided however that the Base Salary for any fiscal year shall not be less than the initial Base Salary to be paid to the Employee hereunder. The first such review shall occur prior to July 1December 31, 1998 (California time)1998; thereafter, such reviews shall occur within three months of the end of each of the Company's fiscal years, commencing with the Company's fiscal year ending December 31June 30, 19981999.
Appears in 1 contract