Base Salary and Other Compensation. Subject to the other terms and conditions of this Agreement, Klondex G&S shall pay to the Employee a base salary of US$220,000 per annum (the "Base Salary"), less required and authorized deductions and withholdings, paid to the Employee in equal bimonthly (twice a month) payments in arrears, and pro-rated for any partial month of employment. The Base Salary will be reviewed by the President from time to time. Klondex G&S shall pay to the Employee an amount equal to the employee cost of family coverage under the Anthem Medical, Anthem Dental and EyeMed Vision Plans (or any plans which replace these plans), on an after tax basis, regardless of whether or not the Employee has elected such coverage (the "Other Compensation"). The Other Compensation will be reviewed by the President from time to time.
Base Salary and Other Compensation. All Base Salary and Other Compensation shall cease at the time of such termination, subject to the terms of any benefit or compensation plan then in force and applicable to Employee. Except as specifically set forth in this Section 9.4, the Company shall have no liability or obligation hereunder by reason of such termination.
Base Salary and Other Compensation. OPPORTUNITIES.
4.1. For all services rendered by Executive under this Agreement, the Company shall pay or cause one or more of its subsidiaries to pay Executive during the Term a base salary at an annual rate of not less than Two Hundred Fifty Thousand U.S. Dollars (US$250,000.00) (the “Base Salary”). The Company shall pay the Base Salary to Executive in accordance with the standard practice it develops for payment of compensation to its employees but not less frequently than monthly. Executive’s Base Salary shall be subject to annual or other review by the Board (or a committee thereof) and may be increased, but not decreased, from time to time by the Board.
4.2. At the end of the each year of employment or other date designated by the Board, provided that Executive is employed by the Company at the time, Executive shall have the opportunity to earn an annual cash bonus for that year to be determined by the Board, in its sole discretion based on, inter alia, its review of the Company’s and Executive’s performance that year, including but not limited to the achievement of the Company’s and Executive’s objectives the first year.
4.3. The Company shall issue Executive 2,000,000 restricted shares of the Company's common stock immediately upon execution of this agreement, which shares shall be certified by the board of directors of the Company to be non-assessable, fully paid, and issued without recourse of any kind or manner and are fully vested as of the date of this Agreement. If within the first year the Executive leaves employment by the Company, the Executive forfeits 1,000,000 restricted shares. Executive and the Company will review the tax implications associated with Executive’s equity arrangements with the Company and may reasonably modify or restructure those arrangements in view of possible negative tax implications for Executive.
4.4. During the Term, provided that Executive is employed by the Company at the time, Executive shall have an opportunity to earn compensation other than those described in Sections 4.1-4.3 above of this Agreement to be determined by the Board in its sole discretion based on the Board’s annual and/or other review of, inter alia, the Company’s and Executive’s performance, including but not limited to the achievement of the Company’s and Executive’s objectives.
4.5. The performance targets, standards and other criteria will be structured after Executive joins the Company and after the CEO, Board, the Chairman, Executive and...
Base Salary and Other Compensation. Section 3.1 of the Employment Agreement is hereby amended to read in its entirety as follows: “Employee will receive an annual base salary of $975,000 prorated and paid on a monthly basis, beginning as of the Effective Date and continuing until December 31, 2013. Effective January 1, 2014, Employee will receive an annual base salary of $550,000 prorated and paid on a monthly basis through December 31, 2014. Effective January 1, 2015, Employee will receive an annual base salary of $1,500,000 prorated and paid on a monthly basis through the Expiration Date. Employee will not be entitled to participate in any incentive, equity award or other compensation plans or programs offered or available to other executives or employees of the Company, except as described in Sections 3.2, 3.3 and 6 or upon a recommendation of the Company’s chief executive officer that is approved as may be required by the Compensation Committee of the Company’s Board of Directors.”
Base Salary and Other Compensation. During the Term, for all services rendered to or on behalf of the Company by the Executive in all capacities pursuant to this Agreement or otherwise, the Company will pay to the Executive the following compensation: (i) an annual base salary of $654,050 (the “Base Salary”), (ii) a target bonus equal to $392,430 (60% of Base Salary) (the “Target Bonus”), and (iii) long term incentive compensation of $420,000 split 50% restricted stock with time based vesting and 50% restricted stock with performance based vesting (issued in March, 2023). The Base Salary will be paid to the Executive in accordance with the Bank’s usual and customary payroll practices applicable to its employees generally.
Base Salary and Other Compensation. Effective February 15, 2008, Employee’s base salary shall be one dollar ($1.00) per annum. Employee shall not receive any regular annual cash bonus nor any annual stock option or restricted stock unit “management grant.”
4. Except as modified hereby, the Agreement shall continue unmodified and in full force and effect.
Base Salary and Other Compensation. The Superintendent's salary for the 2020–2021 contract year shall be $128,000. Salary shall be paid in conformity with the Board’s practice of paying the salaries of other professional employees of the District. For the 2021-2022 contract year, the Board shall increase the salary by 7% to
Base Salary and Other Compensation a. Executive's salary for each year hereunder shall be $120,000.00 per year. Thereafter during the Employment Term, Executive's salary shall be increased each year by an amount equal to Executive's salary for the previous year multiplied by the percent change of the Consumer Price Index for all Urban Consumers (the "CPI") (published by the Bureau of Labor Statistics, United States Department of Labor) during the immediately preceding calendar year. For example, if the percent change in the CPI from 1% to 11% were 10%, Executive's salary for the second year hereunder would be $132,000.00. Salary increases shall not exceed 10% per year. Executive's salary shall be payable on the Company's regular salary payment date. In addition, Executive shall receive a bonus. The bonus paid to Executive shall be determined by the compensation committee as an annual plan to be determined each year as a percentage of the monthly net operating income of the Company pursuant to internally created financials of the Company, payable beginning no later than sixty (60) days after the end of each year, quarter and/or month subject to the compensation committee plan during the term hereunder; provided however that no such monthly bonus shall be paid or payable except and unless the monthly net operating income of the Company equals at least $75,000.00. The Executive shall be entitled to participate in any key management bonus or incentive compensation program including, but not limited to stock options and warrants, instituted by the Board of Directors of the Company, in the sole discretion of the Board of Directors. The salary and bonus payments hereunder shall be subject to withholding and any other applicable tax law.
b. Upon the execution of this Agreement by Executive, the Company shall grant to Executive a stock option for a period of ten years to purchase up to one million (1,000,000) shares of the Company's common stock, $.001 par value per share (collectively, the "Shares"), at an exercise price of five dollars ($5.00) per Share. Such options shall vest and become exercisable in ten equal installments of one hundred thousand (100,000) shares each over ten (10) years with the first vesting to occur immediately (the "Vesting Date"), and subsequent vestings to occur upon the next nine anniversaries of the Vesting Date. The options shall have such additional terms and conditions as set forth in an option agreement to be executed between the Company and Executive in the form at...
Base Salary and Other Compensation. Employee will receive an annual base salary of $975,000 prorated and paid on a monthly basis, beginning as of the Effective Date and continuing until December 31, 2013. Effective January 1, 2014, Employee will receive an annual base salary of $550,000 prorated and paid on a monthly basis through the Expiration Date. Employee will not be entitled to participate in any incentive, equity award or other compensation plans or programs offered or available to other executives or employees of the Company, except as described in Sections 3.2, 3.3 and 6 or upon a recommendation of the Company’s chief executive officer that is approved by the Compensation Committee of the Company’s Board of Directors.
Base Salary and Other Compensation. You will be paid the following compensation during your employment: · You will be paid a base salary of $13,076.93 per bi-weekly pay period ($340,000 annualized), less applicable tax and other withholdings. · In addition to your base salary, you will be eligible to earn a target incentive bonus up to 30% of your base salary, less applicable tax and other withholdings, as determined by the Company in its discretion based upon the Company’s performance, your individual performance, and your continued employment through the bonus payment date in January following the close of each fiscal year. · In addition, you will be advanced a one-time sign-on bonus of $35,000 less applicable tax and other withholdings, in the first payroll cycle after you join the Company. This sign-on bonus will become earned in the event that you successfully complete one year of employment with the Company in good standing. If you resign from your employment with the Company for any reason or are terminated for “cause” before the first anniversary of your Hire Date, you will immediately repay the Company the full (gross) amount of this sign-on bonus. · The Company has partnered with UrbanBound to administer your relocation benefits. UrbanBound’s software, paired with a designated Relocation Consultant and UrbanBound’s Supplier Network, combine to deliver your relocation benefits according to your policy and to help you use those benefits most effectively. You are eligible for the following relocation benefits:
