Common use of Benefits Review Clause in Contracts

Benefits Review. Employee’s Salary, bonus and benefits payable hereunder will be subject to annual review by the compensation committee of the Board, in consultation with the CEO, and such compensation may be increased, but not decreased (except in connection with, and in the same percentage as, a broad-based corporate officer decrease), in the good faith determination of the compensation committee of the Board, in consultation with the CEO. Employee understands and acknowledges that the opportunity of an annual salary and benefit review by the Board shall not be construed in any manner as an express or implied agreement by the Employer to raise or increase his salary or benefits.