Base Salary and Guaranteed Cash Bonus Sample Clauses

Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $150,000 payable in cash in accordance with the Company's usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the compensation committee of the Company's board (the "Committee"); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments, starting with the quarterly installment for and payable in the first quarter of 2008. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year. Notwithstanding the foregoing, the guaranteed annual cash bonus for 2007 shall be equal to 25% (or such higher percentage, if any, that the Committee may determine) of the annual base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than December 31, 2007.
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Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $144,000 payable in cash in accordance with the Company’s usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the Committee (as defined herein); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. “Committee” means the Compensation Committee of the Board, or, if the Company does not then have a Compensation Committee, the Board. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments, starting with the quarterly installment for and payable in the second quarter of 2009. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year. Notwithstanding the foregoing: (i) the guaranteed annual cash bonus for 2008 shall be equal to 25% (or such higher percentage, if any, that the Committee may determine) of the annual base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than 60 days after the Effective Date; (ii) a guaranteed bonus for the first quarter of 2009 equal to 25% (or such higher percentage, if any, that the Committee may determine) of the quarterly base salary in effect at the beginning of the Term and shall be paid in a single lump sum payment no later than 90 days after the Effective Date; and (iii) the guaranteed bonus for the second quarter of 2009 shall be payable no later than 120 days after the Effective Date.
Sample 1
Base Salary and Guaranteed Cash Bonus. The Company will pay to Consultant during the Term a fee at the initial annual rate of $150,000.00 per year payable in cash on the 1st and 15th of each month. The fee shall be determined, at least, on an annual basis by the Committee (as defined herein); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. “Committee” means the Compensation Committee of the Board, or, if the Company does not then have a Compensation Committee, the Board. (B) DOWN LINES. Consultant shall also be entitled to the following:
Sample 1
Base Salary and Guaranteed Cash Bonus. The Company will pay to Executive during the Term a base salary at the initial annual rate of $180,000 payable in cash in accordance with the Company’s usual payroll practices with respect to senior executives. The base salary shall be determined at least annually by the Committee (as defined herein); provided that the base salary may be increased, but not decreased, from that in effect for the prior year. “Committee” means the Compensation Committee of the Board, or, if the Company does not then have a Compensation Committee, the Board. In addition, the Company will pay to Executive during the Term a guaranteed annual cash bonus equal to 25% of the annual base salary, which bonus shall be paid in four substantially equal quarterly installments. Each quarterly installment shall be paid no later than the end of the quarter in which the installment is earned. Notwithstanding the foregoing, if the annual base salary increases during any calendar year, then the guaranteed annual cash bonus payments in that year shall be increased accordingly so that the total guaranteed annual cash bonus paid for that year is equal to 25% of the total base salary for that year.
Sample 1

Related to Base Salary and Guaranteed Cash Bonus

  • 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 The Company shall pay to the Executive an annual base salary of $200,000, payable on a monthly basis commencing on the Effective Date (as the same may be adjusted herein, the “Base Salary”). The Base Salary shall be paid in accordance with the Company’s payroll policies.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Salary and Bonus Awards of stock, stock options, and stock appreciation rights. Use the dollar amount recognized for financial statement reporting purposes with respect to the fiscal year in accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) (FAS 123R), Shared Based Payments.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $550,000 per annum (as increased from time to time, the “Annual Base Salary”), which shall be paid in accordance with the customary payroll practices of the Company. Such Annual Base Salary shall be reviewed (and may be increased, but not decreased) from time to time by the Board or an authorized committee of the Board.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Base Compensation The Bank agrees to pay the Employee during the ----------------- term of this Agreement a salary at the rate of $76,000 per annum, payable in cash not less frequently than monthly; provided, that the rate of such salary shall be reviewed by the Board of Directors of the Bank not less often than annually, and Employee shall be entitled to receive annually an increase at such percentage or in such an amount as the Board of Directors in its sole discretion may decide.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

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