Base Salary; Bonus Clause Samples
Base Salary; Bonus. During the term of this Agreement, Employer shall pay Employee an annual base salary, as set forth in Appendix A, which may be adjusted periodically by Employer in its sole discretion subject to the terms of this Agreement. For purposes of this Agreement, the term “Base Salary” shall mean Employee’s annual base salary referred to in the preceding sentence, but shall exclude any reimbursements for medical, professional, or transportation expenses, excess group-term life insurance coverage, severance pay, commissions, or other “fringe benefits.” Employee’s Base Salary shall be paid in accordance with Employer’s regular payroll procedures, but shall be computed pro rata in any partial year or other partial period of employment. Employer may also pay Employee an annual bonus to be determined by the Board or its designee in its sole discretion and subject to periodic adjustment, and in accordance with Employer’s Bonus Plan (the “Bonus”). Employer shall withhold from all of Employee’s compensation, including without limitation the Base Salary and Bonus, such sums as are required by federal, state and/or local laws and/or any amounts properly requested by Employee. Employee’s Base Salary, Bonus, and Benefits (as defined below) are described more fully in Appendix A hereto, which is incorporated by reference as if fully set out herein, and which may be amended periodically at the sole discretion of the Board or its designee in accordance with the terms of this Agreement.
Base Salary; Bonus. (a) During the Employment Period, Paramount will pay you a base salary (“Base Salary”) at an annual rate of $500,000, which will be reviewed and subject to upward adjustment based on the recommendation of the Board of Directors (or a committee thereof) and the review and approval of the members of the Board of Directors (excluding you), and payable in accordance with Paramount’s normal payroll practices.
(b) For each calendar year that ends during the Employment Period beginning with the 2008 calendar year, you will have the opportunity to earn a bonus (a “Bonus”) of up to $250,000. The amount of your Bonus, if any, for any calendar year, shall be determined in the sole discretion of the Board of Directors or a committee thereof (in each case, excluding you). Except as set forth in Section 6, to receive a Bonus, you must be employed on the last day of the calendar year for which a Bonus is awarded. Each Bonus shall be paid 90 days after the end of the applicable calendar year.
Base Salary; Bonus. During the Employment Period, Employee’s initial base salary shall be $240,000 per year (the “Base Salary”). The Base Salary may be increased but not decreased in the sole discretion of the Board. The Base Salary shall be increased as follows:
Base Salary; Bonus. During the Employment Term, the Company will pay Employee as compensation for his services a base salary at the rate of $265,000 per annum, payable in installments consistent with the Company’s normal payroll schedule, subject to applicable withholding and other taxes (the “Base Salary”), subject to increase in the sole discretion of the Company’s Board of Directors. Employee may participate in a bonus program as determined by the Company’s Board of Directors.
Base Salary; Bonus. The Company shall pay to Executive a base salary at the rate of $255,000 per annum (“Base Salary”), provided that the Base Salary shall be prorated based on the number of days of employment of Executive with the Company for any partial calendar year during the Term. The Board, or a compensation committee appointed by the Board, shall annually review the Base Salary and determine changes in the Base Salary. Base Salary will be payable in periodic installments in accordance with the Company’s customary practices for executive officers. Further bonuses may be paid in the sole discretion of up to 100% of the Base Salary by the Company. Amounts payable will be reduced by standard withholding and other authorized deductions to the extent required or authorized by law.
Base Salary; Bonus. (a) During the Employment Term, in consideration of the performance by the Executive of the Executive’s obligations during the Employment Term (including any service in any position with any subsidiary or affiliate of the Company), the Company shall pay the Executive a base salary (the “Base Salary”) at an annual rate of $450,000, effective as of August 1, 2014. The Executive’s Base Salary shall be subject to increase but not decrease in the discretion of the Compensation Committee of the Board, and shall be payable in accordance with the normal payroll practices of the Company in effect from time to time, but not less frequently than monthly.
(b) During the Employment Term, in addition to the payments of the Base Salary set forth above, the Executive shall be eligible to receive a performance-based target bonus, as set forth below: In respect of each calendar year commencing on or after January 1, 2014 during which the Employment Term is in effect, the Executive shall be eligible to receive a performance-based target bonus of 60% of Base Salary (“Target Amount”), with a minimum of 0% and a maximum of 150% of Target Amount, based on achievement of financial goals established with respect to each calendar year by the Compensation Committee of the Board and other non-financial goals established by the Chief Executive Officer and approved by the Compensation Committee after reasonable consultation with the Executive. Such bonus(es), if any, shall be paid in the same manner and concurrently with other bonuses paid to senior executives of the Company, provided the Executive continues as an active employee of the Company in good standing through the date of such payment (except as otherwise expressly provided in Section 9). Bonus(es) under this Section 3(b) shall be paid in a lump sum no later than March 15th of the calendar year following the calendar year to which such bonus relates.
Base Salary; Bonus. An amount equal to the Multiple multiplied by the Executive's annual base salary at the date of the Change-in-Control occurred, plus an amount equal to the Multiple multiplied by the average annual cash bonus paid to the Executive under the Company's short-term incentive compensation plan for the three most recent consecutive calendar year periods (or the period of Executive's participation in such plan if less than three years) ending on the last day of the calendar year preceding the year in which Executive's employment is terminated.
Base Salary; Bonus. In the event that Executive’s employment is terminated by Executive for Good Reason or by the Company without Cause, and in either case such termination occurs outside of a Protected Period (as defined below), the Company shall continue to pay Executive his then base salary, less applicable taxes and withholdings, for twenty-four (24) months following Executive’s termination in accordance with the Company’s payroll practice, beginning on the Payment Date; provided, that the first installment will include all amounts that otherwise would have been paid to Executive from the date Executive’s employment terminates through the Payment Date had the Release become effective on the date of termination. In the event that Executive’s employment is terminated by Executive for Good Reason or by the Company without Cause, and in either case such termination occurs during the period commencing on the date ninety (90) days prior to the closing of a Corporate Change and ending twelve (12) month following the closing of such Corporate Change (the “Protected Period”), the Company shall pay Executive an aggregate amount equal to (A) twenty-four (24) months of Executive’s then base salary and (B) two times his target annual Bonus for the year in which the termination of employment occurs, less applicable taxes and withholdings, in a lump sum on the Payment Date. In the event of a termination during the Protected Period that occurs prior to the occurrence of a Corporate Change such that the Payment Date occurs prior to the occurrence of the Corporate Change (x) following the occurrence of the Corporate Change, the Company shall pay Executive the Protected Period severance amount following the Corporate Change, less any severance payments made previously under this Section 4(b)(i) and (y) if necessary to comply with the provisions of Code Section 409A (as defined below) certain severance payments shall continue to be made in installments.
Base Salary; Bonus. (a) During the Employment Term, in consideration of the performance by the Executive of the Executive’s obligations during the Employment Term (including any service in any position with any subsidiary or affiliate of the Company), the Company shall pay the Executive a base salary (the “Base Salary”) at an annual rate of $650,000, subject to increase but not decrease in the discretion of the Board, payable in accordance with the normal payroll practices of the Company in effect from time to time.
(b) During the Employment Term, in addition to the payments of the Base Salary set forth above, the Executive shall be eligible to receive, in respect of each calendar year during which the Employment Term is in effect, a performance-based cash bonus of 100% of Base Salary at target (the “Target Bonus”) and 150% of Base Salary at maximum based on achievement of goals established each year by the Compensation Committee after reasonable consultation with Executive; provided that with respect to calendar year 2008, the Target Bonus shall be $557,000. Such bonus, if any, shall be paid concurrently with other bonuses paid to senior executives of the Company, provided you are continuously and actively employed through such date of payment.
(c) The Company shall reimburse Executive for reasonable legal fees in connection with the negotiation and execution of this Agreement in an amount not to exceed $15,000.
Base Salary; Bonus. The Employee shall receive a base salary, payable in substantially equal bi-weekly installments, at the monthly rate of at least $11,250 per month during the Term, or such greater amount as shall be determined by the Chief Executive Officer (the “Base Salary”). The Base Salary may, by action and in the discretion of the Chief Executive Officer, be increased at any time or from time to time; provided that the Base Salary shall not be decreased for any reason whatsoever. In addition, Employee shall be entitled to any bonus payments determined by the Chief Executive Officer.