Common use of Base Salary and Bonus Clause in Contracts

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.

Appears in 2 contracts

Samples: Executive Employment Agreement (Haemonetics Corp), Executive Employment Agreement (Haemonetics Corp)

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Base Salary and Bonus. The Company shall pay to Executive a base salary at the rate of $350,000500,000, 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 CEOBoard of Directors. For 100% performance, the bonus payout is set at $157,500 250,000 annually.

Appears in 1 contract

Samples: Executive Employment Agreement (Haemonetics Corp)

Base Salary and Bonus. The Company shall agrees to pay or cause to be paid to the Executive during the Term a base salary at the rate of $350,000, 432,000 per annumannum (hereinafter referred to as the "Base Salary" for the Term). Beginning May 2004, and annually thereafter, the Executive's base salary The Base Salary will be reviewed payable in accordance with the Company's customary practices applicable to its executives. The Executive shall also be eligible for a potential increase. In addition, the Executive will be eligible bonus equal to receive bonus payments based on performance against objectives mutually agreed between Executive and the CEO. For as much as 100% performanceof Base Salary (the "Target Bonus"), with the amount of such bonus payout is set at $157,500 annuallyto be subject to the discretion of the Board.

Appears in 1 contract

Samples: Executive Employment Agreement (Valeant Pharmaceuticals International)

Base Salary and Bonus. The Company shall pay base salary payable to Executive a base salary shall be at the rate of $350,000300,000 per year through June 30, 2005 and at the rate of $350,000 per annum. Beginning May 2004, and annually year thereafter, the payable in periodic installments in accordance with Company practice. The Board of Directors may from time to time award bonuses to Executive in an amount equal to Executive's salary. The payment of base salary will and bonuses shall be reviewed for a potential increase. In additionsubject to all applicable federal, the Executive will be eligible to receive bonus payments based on performance against objectives mutually agreed between Executive state and the CEO. For 100% performancelocal withholding taxes, the bonus payout is set at $157,500 annuallysocial security deductions and similar obligations.

Appears in 1 contract

Samples: Employment Agreement (Essential Reality Inc)

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Base Salary and Bonus. The Company From the Effective Date through the end of the Employment Period, Executive shall pay to Executive be paid a base monthly salary at the rate of $350,00010,416.67, per annum. Beginning May 2004subject to all applicable withholding for taxes, and annually thereafterfor his services as an employee hereunder, the Executive's base salary will be reviewed for a potential increasepayable in accordance with Company’s normal payroll practices. In addition, during the Employment Period Executive will shall be eligible for an annual cash incentive bonus under Company’s annual bonus plan in an amount up to receive bonus payments 30% of Executive’s base salary, based on Company’s performance against objectives mutually agreed between Executive and the CEO. For 100% Executive’s individual performance, the bonus payout is set at $157,500 annually.

Appears in 1 contract

Samples: Executive Employment Agreement (Superior Bancorp)

Base Salary and Bonus. The During the Employment Period, the Company shall pay to Executive a base salary at the rate of $350,000, 225,000 per annumyear ("Base Salary"). Beginning May 2004, and annually thereafter, the Executive's base salary will Base Salary shall be reviewed for a potential increasepaid in approximately equal installments in accordance with the Company's customary payroll practices. In additionaddition to Base Salary, the Executive will shall be eligible to receive an annual target bonus payments based on of $100,000 upon attaining performance against objectives mutually agreed between Executive and goals established by the CEO. For 100% performance, the bonus payout is set at $157,500 annuallyCompany.

Appears in 1 contract

Samples: Employment Agreement (Imclone Systems Inc/De)

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