Base Salary and Bonus Compensation. (a) In consideration for all rights and services provided by Employee, Employee shall receive an annual base salary of $516,000.00 (the “Base Salary”). Such Base Salary shall be payable at such intervals as salaries are paid by the Company to other employees of the Company, subject to the usual and required employee payroll deductions and withholdings. The Base Salary shall be subject to minimum annual increases of 7% over the prior year’s Base Salary, with any increase in excess of such minimum to be determined by the Company’s Board of Directors (or the Compensation Committee of such Board of Directors), in its sole and absolute discretion.
(b) In addition to the Base Salary, Employee will be eligible to receive an annual discretionary bonus (the "Annual Bonus"). Employee’s Annual Bonus during the Term shall be unconditionally guaranteed at a non-discretionary minimum of 10% of the then applicable Base Salary, provided that any amount in addition thereto shall be within the sole and absolute discretion of the Company's Board of Directors (or the Compensation Committee of the Board of Directors) and shall be based upon Employee’s achievement of certain mutually agreed objectives and goals and/or Employee’s contribution to the success of the Company’s financial and business objectives and goals for the fiscal year with respect to which the Annual Bonus is calculated, such determination to be made by the Company's Board of Directors (or the Compensation Committee of the Board of Directors) in its sole and absolute discretion. The Company's overall financial performance will also be considered in determining whether any of the discretionary portion of the Annual Bonus is awarded and, if so, the amount. Employee must remain continuously employed by Company through the date on which the Annual Bonus is paid to be eligible to receive such Annual Bonus. Any Annual Bonus shall be subject to all required federal, state and local tax withholding.
(c) Employee also is being granted a non-qualified stock option (the “Option”) to purchase an aggregate of 800,000 shares of the common stock (the “Common Stock”) of the Company’s parent corporation, Wyndcrest DD Holdings, Inc. (“Wyndcrest”). Such Option will vest as follows: one-eighth (1/8) thereof shall vest on the date six (6) months following the Commencement Date and one-eighth (1/8) portions thereof shall vest on the final date of each 6 month period thereafter until such Option is fully vested, provided that, subje...
Base Salary and Bonus Compensation. Your annual base salary is currently $293,273, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company’s normal payroll schedule. You are eligible to participate in the Company’s Cash Bonus Plan for Senior Management of Cerus Corporation (the “Bonus Plan”), in accordance with the terms, conditions and limitations of the plan. Annual bonuses are not guaranteed and such bonuses, if any, are awarded at the sole discretion of the Company’s Board of Directors (“Board”). As provided in the Bonus Plan, you must remain employed through the date the bonus is paid in order to earn and be eligible to receive a bonus; no pro rata or partial bonuses will be provided. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. The Company may modify your compensation from time to time as it deems necessary. In addition to any equity awards you have previously received, you shall be eligible to receive additional equity awards under the Company’s 2008 Equity Incentive Plan and various equity incentive and bonus programs that may be approved from time to time by the Board in its sole discretion.
Base Salary and Bonus Compensation. The Company recognizes that Employee will have significantly increased responsibilities on the effective date of Company’s registration statement for its initial public offering with the United States Securities and Exchange Commission, and accordingly upon said effective date Employee’s Base Salary shall be increased to $380,000.00 per year.
Base Salary and Bonus Compensation. Beginning May 1, 2009, your annual base salary will be $220,000, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company’s normal payroll schedule. You are eligible to participate in the Company’s Cash Bonus Plan for Senior Management of Cerus Corporation (the “Bonus Plan”), in accordance with the terms, conditions and limitations of the plan. Annual bonuses are not guaranteed and such bonuses, if any, are awarded at the sole discretion of the Company’s Board of Directors (“Board”). As provided in the Bonus Plan, you must remain employed through the date the bonus is paid in order to earn and be eligible to receive a bonus; no pro rata or partial bonuses will be provided. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. The Company may modify your compensation from time to time as it deems necessary.
Base Salary and Bonus Compensation. Your initial annual base salary shall be $415,000, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company’s normal payroll schedule. You will be eligible to participate in the Company’s Cash Bonus Plan for Senior Management of Cerus Corporation, in accordance with the terms, conditions and limitations of the plan. You will be eligible to receive an annual bonus for calendar year 2004 if you remain an employee in good standing through March 1, 2005 (the expected bonus payout date). Provided this condition is met, you are guaranteed a minimum 2004 annual bonus of $175,000, which bonus amount is subject to increase to up to a total of seventy-five percent (75%) of the base salary amount you actually receive from the Company during 2004. For calendar year 2005, you may be eligible to receive an annual bonus, which, at the Board’s sole discretion, may consist of both cash compensation and a restricted stock grant (at an approximate split of 60% cash and 40% restricted stock), with a total combined value of up to one hundred percent (100%) of the base salary amount you receive in 2005, if you remain an employee in good standing through March 1, 2006 (the expected bonus payout date). Other than for calendar year 2004, annual bonuses are not guaranteed and such bonuses, if any, are awarded at the sole discretion of the Board based on its assessment of your performance and the Company’s performance with respect to corporate and personal objectives. You must remain employed through the end of the year in order to earn and be eligible to receive a bonus, and no pro rata or partial bonuses will be provided. No bonuses are earned until the Board confirms such bonuses in writing. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. The Board may modify your compensation from time to time as it deems necessary.
Base Salary and Bonus Compensation. (a) In consideration for all rights and services provided by Employee, Employee shall receive an annualized base salary during the Term (the “Base Salary”), which shall be payable at such intervals as salaries are paid by the Company to other employees of the Company, subject to the usual and required employee payroll deductions and withholdings. The Base Salary shall be $300,000.00 during the period commencing on the Commencement Date and ending on December 31, 2006, and shall be increased to $450,000.00 effective January 1, 2007. The Base Salary for each of calendar years 2008 and 2009 shall be in an amount equal to one hundred seven percent (107%) of the respective prior calendar year’s Base Salary (i.e., $481,500.00 from January 1, 2008 through December 31, 2008, and $515,205.00 from January 1, 2009 through December 31, 2009).
(b) In addition to the Base Salary, Employee will be eligible to receive an annual bonus (the “Annual Bonus”). With respect to calendar year 2006, Employee shall receive an Annual Bonus in a maximum amount equal to $150,000.00, fifty percent (50%) of which shall be contingent upon satisfaction in full of the net profit target set forth in Exhibit A attached hereto. The first $75,000.00 of the maximum Annual Bonus for 2006 shall be paid to Employee on January 31, 2007. There shall be no conditions or contingencies with respect to the payment of the first $75,000.00 of the maximum Annual Bonus for 2006. The remaining $75,000.00 of the maximum Annual Bonus for 2006 shall be paid to Employee upon completion (not later than March 31, 2007) by the Company’s outside auditors of their audit of the Company’s financial statements for its 2006 fiscal year, but only if such financial statements as so audited indicate that the net profit target set forth in Exhibit A was satisfied in full. Employee’s Annual Bonus for each of the calendar years 2007, 2008 and 2009 shall be unconditionally guaranteed at a non-discretionary minimum of 10% of the then applicable Base Salary for such year, payable (subject to the penultimate sentence of this paragraph) on January 31 of the subsequent calendar year, provided that any amount in addition thereto shall be within the sole and absolute discretion of the Company's Board of Directors (or the Compensation Committee of the Board of Directors) and shall be based upon Employee’s achievement of certain mutually agreed objectives and goals and/or Employee’s contribution to the success of the Company in achievin...
Base Salary and Bonus Compensation. Beginning April 18, 2011, your annual base salary will be $415,000, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company’s normal payroll schedule. You are eligible to participate in the Company’s Cash Bonus Plan for Senior Management of Cerus Corporation (the “Bonus Plan”), in accordance with the terms, conditions and limitations of the plan. The target bonus percentage for your position is 60% of base salary (subject to Federal & State taxes). Annual bonuses are not guaranteed and such bonuses, if any, are awarded at the sole discretion of the Board based on its assessment of your performance and the Company’s performance with respect to corporate and personal objectives. As provided in the Bonus Plan, you must remain employed through the date the bonus is paid in order to earn and be eligible to receive a bonus; no pro rata or partial bonuses will be provided. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. The Company may modify your compensation from time to time as it deems necessary.
Base Salary and Bonus Compensation. Employee’s Base Salary set forth in Section 4(a) of the Employment Agreement shall be increased to $750,000 per year effective as of the date of this Amendment. Additionally, under Section 4(b) of the Employment Agreement Employee shall be eligible to receive up to 100% of Employee’s then applicable Base Salary as Employee’s Annual Bonus. In evaluating Employee’s performance Company shall consider items such as Employee’s role in the completion of each successful underwritten public or private offering of debt or equity securities of the Company and Employee’s participation in prolonged roadshows and other instances of significant travel necessitating Employee’s absence from his family for protracted periods of time.
Base Salary and Bonus Compensation. Your annual base salary is currently $490,000, less standard payroll deductions and withholdings and paid semi-monthly in accordance with the Company’s normal payroll schedule. You are eligible to participate in the Company’s Cash Bonus Plan for Senior Management of Cerus Corporation (the “Bonus Plan”), in accordance with the terms, conditions and limitations of the plan. Annual bonuses are not guaranteed and such bonuses, if any, are awarded at the sole discretion of the Board based on its assessment of your performance and the Company’s performance with respect to corporate and personal objectives. As provided in the Bonus Plan, you must remain employed through the date the bonus is paid in order to earn and be eligible to receive a bonus; no pro rata or partial bonuses will be provided. The Board shall have the sole discretion to change or eliminate the annual bonus program at any time, and to determine the amount of bonus earned, if any. The Board may modify your compensation from time to time as it deems necessary.
Base Salary and Bonus Compensation. For the remainder of 2000 and thereafter, Parent shall, or shall cause the Surviving Corporation to, provide Continuing Employees with no less favorable base salary in effect immediately prior to the Effective Time. For the remainder of 2000, the ASA Acquisition Incentive Compensation Plan and the Team Incentive Award Program shall remain in effect. The bonus pools payable under these plans shall be allocated by Xxxxxxx X. Xxxxxxx or his delegate and the amounts payable under these plans shall be paid on or before March 15, 2001. For 2001, Parent shall, or shall cause the Surviving Corporation to, with the approval of Xxxxxxx X. Xxxxxxx and Xxxxxx Xxxxxx, adjust the base salaries of Continuing Employees in such a manner as to account for the smaller target bonus and incentive opportunities available to them through Aon Consulting, Inc.'s current Incentive Performance Plan. Current 2000 base salaries and 1999 bonus payments for Continuing Employees shall serve as the basis for adjustments for 2001 base salaries and bonus payments.
