Base Salary and Bonus. As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.
Base Salary and Bonus. As compensation for the Executive’s services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit “A”. Such base salary may be increased but not decreased during the Term in the Company’s discretion based upon the Executive’s performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company’s executives. In addition to such base salary, the Executive shall be entitled during the Term to a performance bonus and shall be eligible to participate in and receive payments or awards from all other bonus and other incentive compensation, stock option and restricted stock plans as may be adopted by the Company, all as determined by the Compensation Committee of the Board of Directors in its sole discretion.
Base Salary and Bonus. If Executive’s employment terminates under this § 4.4, ICE’s only obligation under this Employment Agreement shall (subject to applicable withholdings) be (1) to pay Executive or, if Executive dies, Executive’s estate the base salary and annual bonus, if any, which were due and payable on the date Executive’s employment terminated and (2) to reimburse Executive or, if Executive dies, Executive’s estate for any expenses which Executive had already incurred and which would have otherwise been reimbursed but for such termination of employment.
Base Salary and Bonus. If Executive’s employment terminates under this § 4.4, INTCX’s only obligation under this Employment Agreement shall (subject to applicable withholdings) be (1) to pay Executive or, if Executive dies, Executive’s estate the base salary and annual bonus, if any, which were due and payable on the date Executive’s employment terminated and (2) to reimburse Executive or, if Executive dies, Executive’s estate for any expenses which Executive had already incurred and which would have otherwise been reimbursed but for such termination of employment.
Base Salary and Bonus. (a) During the Employment Period, Executive shall earn a base salary at the rate of $275,000 per annum, payable in regular installments in accordance with the Company's payroll policy. Executive's annual base salary, as in effect from time to time, is hereinafter referred to as "Salary". Such Salary shall be subject to review and increase (but not decrease) by the Board not less frequently than annually. In no event shall the amount of Executive's Salary (as may be increased from time to time) be reduced during the Employment Period.
(b) During the Employment Period, Executive shall also be eligible to earn an annual bonus ("Bonus") for each fiscal year of the Company, subject to the Company's annual reduction of indebtedness by $50 million, equal to the following amount: (1) if the Company achieves 100% of target EBITDA for such fiscal year as set forth on Exhibit A hereto ("Target EBITDA"), a Bonus in the amount equal to 50% of the annual amount of Salary in effect on the last day of such fiscal year ("Target Bonus"); (2) if the Company achieves 85% of Target EBITDA for such fiscal year, a Bonus in an amount equal to 50% of Target Bonus; (3) if the Company achieves 115% of target EBITDA, a Bonus in an amount equal to 150% of Target Bonus. If the Company achieves between 85% and 100% or between 100% and 115% of Target EBITDA for such fiscal year, Executive's Bonus shall based on a linear sliding scale between the applicable targets. If the Company achieves more than 115% of Target EBITDA in any such fiscal year, Executive's Bonus shall increase dollar for dollar, provided that in no event shall the maximum Bonus payable to Executive exceed 200% of his Target Bonus (and Company performance beyond the point at which 200% of the Target Bonus is reached shall not result in any further increase in the Bonus). The Bonus for each fiscal year shall be paid to Executive by the Company in cash not later than the ninety (90) days after the end of such fiscal year.
Base Salary and Bonus. The Company shall continue to pay to Executive his Base Salary (as in effect as of the date of such termination) and bonus (calculated on a pro rata basis based upon the assumption that Executive would have fulfilled the requirements to earn his target bonus) that would have been payable hereunder to Executive from the date of such termination for a period of twelve months following the termination.
Base Salary and Bonus. During the Employment Period, the Company shall pay Executive a base salary at a rate of not less than $500,000 for calendar year 2009 and, thereafter, not less than $1,000,000 per year (“Base Salary”). Executive’s Base Salary shall be paid in approximately equal installments in accordance with the Company’s customary payroll practices. The Compensation Committee of the Board of Holdings (the “Compensation Committee”) shall review Executive’s Base Salary for increase (but not decrease) no less frequently than annually and consistent with the executive compensation practices and guidelines of the Company and Holdings. If Executive’s Base Salary is increased by the Company, such increased Base Salary shall then constitute the Base Salary for all purposes of this Agreement. In addition to Base Salary, Executive shall be eligible to receive an annual bonus (the “Performance Bonus”). Unless the Board of Holdings and Executive mutually agree otherwise, the amount of the Performance Bonus for each year during the Employment Period subsequent to 2008 shall be calculated in accordance with the schedule set forth below. The Target EBITDA for 2009 and thereafter shall be determined by the Compensation Committee in consultation with management of the Company. The Target EBITDA for a particular year shall be determined for each year within thirty (30) days following approval of the Company’s budget for such year by the Board of Holdings. EBITDA, for all purposes of this Agreement, shall be defined as, and shall use the same calculations and methodologies used for determining Consolidated EBITDA as defined by the Credit Agreement among Clear Channel Capital I, LLC, as successor to BT Triple Crown Merger Co., Inc., and Clear Channel Communications, Inc., the Subsidiary Co-Borrowers (as defined by the Credit Agreement), the Foreign Subsidiary Revolving Borrowers (as defined by the Credit Agreement), from time to time a party thereto, Citibank, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, and each lender from time to time party thereto dated May 13, 2008 (the “Credit Agreement”), as amended from time to time, except that for purposes of this Amendment, unless otherwise approved by the Compensation Committee and the Board of Holdings, Achieved EBITDA will (i) exclude EBITDA generated from joint venture entities formed after the date hereof to the extent not included in the calculation of Target EBITDA and (ii) include EBITDA that is excluded from Consoli...
Base Salary and Bonus. PPD shall pay Employee an amount equal to times the sum of Employee’s (i) base salary for the First Period (determined as if Employee was employed for the entire First Period if employed for less than the First Period) and (ii) the greater of (x) Employee’s target bonus under the PPD incentive cash bonus plan in which Employee is eligible to participate immediately prior to the Termination Date or (y) the average of the cash bonuses received in the First Period and in the twelve-month period immediately preceding the First Period, said amount to be paid on the Payment Date.
Base Salary and Bonus. As compensation for the Employee’s services under this Agreement, the Employee shall receive, and the Company shall pay, a base salary of One Hundred Sixty-Five Thousand and No/100 Dollars ($165,000.00) (the “Base Salary”). The Base Salary may be increased, but not decreased, during the Term, in the Board of Directors’ discretion, based upon the Employee’s performance and any other factors the Board of Directors deems relevant. The Base Salary shall be payable in accordance with the policy then prevailing for the Company’s Employees. In addition, the Employee shall be entitled to participate in and receive payments from all other bonus and other incentive compensation plans as may be adopted by the Company on the same basis as other Employee officers of the Company.
Base Salary and Bonus. The Company shall pay to Executive a base salary at the rate of $350,000, per annum. Beginning May 2004, and annually thereafter, the Executive's base salary will be reviewed for a potential increase. In addition, the Executive will be eligible to receive bonus payments based on performance against objectives mutually agreed between Executive and the CEO. For 100% performance, the bonus payout is set at $157,500 annually.
