Base Salary and Annual Bonus. For a period of twelve (12) months after the Termination Date, Base Salary and Target Annual Bonus (as defined herein) shall be payable, at the election of the Company, either bi- weekly or a lump sum within ten (10) days of the Termination Date, unless such termination is by the Company without Cause, in which event such amount of Base Salary and Target Annual Bonus shall be paid in a lump sum within ten (10) days of the Termination Date.
Base Salary and Annual Bonus. The Company shall pay Executive an amount equal to the sum of Executive’s annual Base Salary and Target Annual Bonus, which shall be paid in substantially equal installments in accordance with the Company’s normal payroll practices commencing on the sixtieth (60th) day following the Termination Date through the first (1st) anniversary of the Termination Date, provided that the first such payment shall include any amounts that would have otherwise been paid during the period from the Termination Date through the sixtieth (60th) day following the Termination Date.
Base Salary and Annual Bonus. The Company shall pay the Executive, no later than 30 days after Executive’s termination of employment, in a single sum, an amount equal to two times the sum of (x) the Executive’s annual salary at the time of termination; and (y) the average Annual Bonus paid or payable to Executive in respect of the three calendar years immediately preceding the year in which termination occurs. In the event Executive’s termination occurs after the end of a calendar year, but before a bonus earned in that calendar year has been paid, the Company shall pay such bonus to Executive in addition to the amount otherwise payable under this paragraph (a).
Base Salary and Annual Bonus. The Company shall pay Executive an amount equal to the sum of Executive’s Base Salary plus Executive’s Average Bonus Amount, multiplied by two (2). For purposes of this Section 3.8.1, “Average Annual Bonus” means the amount equal to the annual average of the annual bonuses earned in respect of a fiscal year of the Company that was paid or payable to Executive by the Company and any affiliate for each of the three fiscal years of the Company that immediately precede the fiscal year in which the Change of Control occurs, but not less than the greater of (A) Executive’s highest annual target bonus during any of such three preceding fiscal years or (B) Executive’s targeted bonus for the fiscal year in which the Change of Control occurs. Such amounts shall be paid on the sixtieth (60th) day following the Termination Date, provided, however, that if Executive’s termination of employment is an Anticipatory Termination, such amount shall be paid on the sixtieth (60th) day immediately following the Change of Control and shall be reduced by any payment previously made under Section 3.4.1.
Base Salary and Annual Bonus. For all of the services rendered by Employee pursuant to this Agreement, the Corporation shall pay Employee his Base Salary, payable in accordance with the Corporation’s normal pay practices so long as employed under this Agreement. In no event shall Employee’s Base Salary be decreased, but it may, from time to time be increased at the discretion of the Corporation. In addition, the Corporation shall pay Employee an Annual Bonus as determined by the Board of Directors from time to time.
Base Salary and Annual Bonus. Your current annual base salary is $300,000, less standard payroll deductions and tax withholdings, paid on the Company’s normal payroll schedule. You will be eligible to participate in the Company’s annual bonus program in accordance with its terms, with the target bonus of $275,000 and performance metrics to be established by the board of directors of the Company (the “Board”) or the compensation committee of the Board (the “Committee”) in its sole discretion. Your compensation will be subject to periodic review in accordance with Company practices.
Base Salary and Annual Bonus. During the period of the Executive's employment hereunder, the Trust shall pay to the Executive an annual base salary of $375,000 ("Base Salary"), such Base Salary to be paid in accordance with the Trust's standard payroll practices and subject to all applicable withholdings. The Base Salary may, subject to the approval of the Board of Trustees, be increased from time to time in accordance with normal business practices of the Trust and, if so increased, shall become the new Base Salary for the calendar year and shall not thereafter during the term of this Agreement be decreased. The Executive shall be eligible for an annual bonus ("Annual Bonus") of up to a maximum of 130% of his Base Salary (with the target bonus being 100% of Base Salary), based on his performance and the performance of the Trust as determined by the Compensation Committee of the Board.
Base Salary and Annual Bonus. During the Term, the Company shall pay to the Employee, commencing as of the Start Date, a base salary (the “Base Salary”) at an annual rate of not less than two hundred thousand Dollars ($200,000) per year, less applicable taxes and customary withholdings, such Base Salary to be paid in conformity with the Company’s payroll policies relating to its employees, but in any event not less frequently than monthly. In addition, during the Term, the Employee shall be eligible to receive an annual bonus of up to one hundred fifty thousand Dollars ($150,000), which shall be payable on an annual basis, at the end of each fiscal year, if the Employee is still employed by the Company at the end of such fiscal year. Furthermore, and subject to any additional obligations of the Company pursuant to Section 8 of this Agreement, if the Employee works for a portion of such fiscal year, then the bonus shall be payable on a pro rata basis only. The Company’s obligation for payment of compensation hereunder shall be subject to all present and future laws, rules, regulations and orders affecting such obligation. No withholding, deduction, reduction or limitation of payments hereunder by reason of any such law, rule, regulation or order shall be deemed a breach of this Agreement or relieve the Employee from the Employee’s obligations hereunder or give the Employee any right to terminate this Agreement. If the Company is unable to make full payments hereunder because of any wage control law or regulation, the Company shall pay the Employee any portion of such payment (which is not paid when due) at such time when such law or regulation no longer prohibits such payment (unless such law or regulation prohibits such retroactive payments).
Base Salary and Annual Bonus. The Company shall pay Executive an amount equal to the sum of Executive’s Base Salary plus Executive’s Average Bonus Amount, multiplied by three (3) (such amount, the “CIC Severance Amount”), which shall be paid in substantially equal installments in accordance with the Company’s normal payroll practices commencing on the sixtieth (60th) day following the Termination Date through the third (3rd) anniversary of the Termination Date, provided that the first such payment shall include any amounts that would have otherwise been paid during the period from the Termination Date through the sixtieth (60th) day following the Termination Date. For purposes of this Section 3.8.1.i, “Average Bonus Amount” means the amount equal to the annual average of the annual bonuses earned in respect of a fiscal year of the Company that was paid or payable to Executive by the Company and any subsidiary for each of the three fiscal years of the Company that immediately precede the fiscal year in which the Change of Control occurs (or which immediately precede Executive’s Termination Date if a Change of Control has not yet occurred), or in any case such lesser number of full fiscal years of the Company as Executive was employed by the Company, but not less than the greater of (A) Executive’s highest Target Annual Bonus Opportunity during any of such three preceding fiscal years or (B) Executive’s Target Annual Bonus Opportunity for the fiscal year in which the Change of Control occurs (or the year in which Executive’s Termination Date occurs if a Change of Control has not yet occurred). Notwithstanding the foregoing, if Executive’s termination of employment is an Anticipatory Termination, then, in lieu of any payments pursuant to the first sentence of this Section 3.8.1.i, Executive’s payments shall commence or continue in accordance with Section 3.4.1 (including, without limitation, the requirements of Section 3.9.4), except that (x) the payments shall continue through third (3rd) anniversary of the Termination Date and (y) the amount of each payment made following the Change of Control shall be substantially equally adjusted such that the aggregate amount of payments received by Executive pursuant to Section 3.4.1 and this Section 3.8.1.i through the third (3rd) anniversary of the Termination Date equals the CIC Severance Amount.
Base Salary and Annual Bonus. You will be paid a base salary at the rate of Two Hundred Fifty Thousand Dollars ($250,000) per annum, less applicable tax and payroll deductions, payable in accordance with Xxxxx’x prevailing payroll practices. The base salary in effect at any time during the Term is referred to herein as “Base Salary.” In addition to your Base Salary, with respect to each of the first four years of the Term (assuming you are still employed by Cowen) you will be paid, less applicable tax and payroll deductions, a minimum annual bonus in the amount of One Million Seven Hundred Fifty Thousand Dollars ($1,750,000) so that your total compensation for each such fiscal year is no less than Two Million Dollars ($2,000,000). Commencing in the fifth year of the Term (i.e., 2010), assuming you are still employed by Cowen, you shall be entitled to receive a minimum annual bonus equal to One Million Seven Hundred Fifty Thousand Dollars ($1,750,000), of which Seven Hundred Fifty Thousand Dollars ($750,000) shall be paid within two-and-one-half months after the end of the fiscal year in which such bonus was earned and One Million Dollars ($1,000,000) of which shall be deferred in accordance with the provisions of Section 409A (“Section 409A”) of the Internal Revenue Code of 1986, as amended, and the guidance and regulations promulgated thereunder (the “Code”) and shall be paid to you immediately following the six-month anniversary of your termination of employment (or earlier, if permitted by Section 409A). In addition, in each year in which you are employed by Cowen you shall be entitled to earn an additional annual performance-based bonus pursuant to a Company bonus plan as determined by the Compensation Committee of the Board of Directors of Cowen. The total annual bonus that may be earned by you for any year during the Term is referred to herein as the “Annual Bonus.” Your Annual Bonuses for the 2006 through the 2010 fiscal years, and for any years thereafter, may at the discretion of the Board of Directors of Cowen, and consistent with other senior executives of Cowen, include a certain percentage of shares, restricted shares, options, or other form of equity ownership in Cowen.
