Base Salary and Incentive Bonus. Notwithstanding anything to the contrary contained in the Employment Agreement, including, without limitation, Sections 4(a) and 4(b) of the Employment Agreement, Executive shall forgo (A) one hundred percent (100%) of her base salary in excess of the amount necessary to cover Executive’s required contributions to her employment benefits and related payroll taxes for the pay period beginning on April 1, 2020 and continuing thereafter to and through June 30, 2020 and (B) one hundred percent (100%) of the Incentive Bonus that Executive would have otherwise been entitled in accordance with and subject to the terms and conditions of the Employment Agreement for the pay period beginning on April 1, 2020 and continuing thereafter to and through January 7, 2021. Executive shall continue to remain eligible to receive a prorated portion of the Incentive Bonus for the period between January 8, 2020 through March 31, 2020 in accordance with and subject to the terms and conditions of the Employment Agreement.
Base Salary and Incentive Bonus. The Company shall continue to pay to Executive his Base Salary (as in effect as of the date of such termination) and Incentive Bonus based upon the assumption that Executive would have fulfilled the requirements to earn his Incentive Bonus at target that would have been payable hereunder to Executive from the date of such termination for a period of twenty-four (24) months following the termination (and a prorated portion for any partial year). The Company shall continue to pay to Executive his Base Salary (as in effect as of the date of such termination) no less frequently than monthly in accordance with the Company’s normal payroll procedures, beginning with the first payroll date after the date of termination of Executive’s employment and continuing for twenty-four (24) months immediately following the termination. The Company also shall pay to Executive an Incentive Bonus for each Company fiscal year (and a pro rata amount for each partial Company fiscal year) during the twenty-four (24) months immediately following Executive’s termination of employment in an amount equal to the target bonus Executive would have received had he fulfilled the requirements to earn his Incentive Bonus that would have been payable during such time (or pro rata amount of such bonus for any partial Company fiscal year) with the Incentive Bonus for any fiscal year or partial year to be paid after the end of such fiscal or partial year and within two and one-half (2-1/2) months thereafter. Notwithstanding the foregoing, all payments to be made or benefits to be provided under this Section are subject to the provisions of Section 5(f) and (h) below.
Base Salary and Incentive Bonus. Notwithstanding anything to the contrary contained in the Employment Agreement, including, without limitation, Sections 4(a) and 4(b) of the Employment Agreement, Executive shall forgo one hundred percent (100%) of the base salary and Incentive Bonus that Executive would have otherwise been entitled in accordance with and subject to the terms and conditions of the Employment Agreement for the pay period beginning on March 18, 2020 and continuing thereafter to and through January 7, 2021. Executive shall continue to remain eligible to receive a prorated portion of the Incentive Bonus for the period between January 8, 2020 through March 17, 2020 in accordance with and subject to the terms and conditions of the Employment Agreement.
Base Salary and Incentive Bonus. (a) During the Term and subject to the provisions of Section 2(c), the Company shall pay Pine a base salary, not less frequently than semi-monthly, of not less than $480,000 per year ("base salary"). The Company agrees that the Compensation Committee of its Board of Directors (the "Committee") shall review Pine's base salary each year with a view to making appropriate upward adjustments to reflect Pine's contribution to the profitability of the Company; provided, however, that the Company shall not be obligated to make an adjustment in any particular year.
Base Salary and Incentive Bonus. During the Term, the Company shall pay Guild a base salary of not less than $360,000 per year ("base salary"), payable in equal semi-monthly installments. In addition, Guild shall be entitled to receive a minimum incentive bonus of $90,000 (the "Incentive Bonus") in respect of each year during the Term, if the Company and/or Guild achieves the performance goals for that year which are established by the Company's Chief Executive Officer and Guild prior to the beginning of that year. The Incentive Bonus for each year shall be payable in quarterly installments, based on the Company's best estimates of actual performance against performance goals. The foregoing shall not preclude Guild from receiving salary increases or awards of bonuses, incentive or other types of additional compensation (in addition to the Incentive Bonus) which the Company in its sole discretion may wish to pay.
Base Salary and Incentive Bonus. Paragraph 3 hereof ("salary continuation") and (B) an amount equivalent to 75% of one-third of the aggregate amount of the bonuses received by you with respect to each of the three calendar years immediately preceding such event (it being understood that for this purpose the bonus with respect to any year is the bonus presently awarded in the first quarter of the succeeding year) and (ii) for each succeeding twelve months remaining in the term of this Agreement, (A) an amount equivalent to the annual salary as determined in Paragraph 3 hereof and (B) an amount equivalent to 50% of one-third of the aggregate amount of the bonuses received by you with respect to each of the three calendar years immediately preceding such event (it being understood that for this purpose the bonus with respect to any year is the bonus presently awarded in the first quarter of the succeeding year). Notwithstanding the above, payments shall continue until the earlier of (i) the expiration of this Agreement or (ii) in accordance with 5(e) below. Upon your acceptance of other full-time employment, the balance remaining of such aggregate amount may, at Industries' discretion, be paid to you in a lump sum.
Base Salary and Incentive Bonus
