Common use of By Employer Clause in Contracts

By Employer. For all services rendered by Employee hereunder, Employer shall (i) pay Employee a base annual salary, payable in equal monthly installments, one at the end of each monthly period, with the base annual salary presently in effect through December 31, 2007 being $215,855; (ii) include the Employee as a participant in the Employer’s salaried employees’ benefit programs and provide to Employee benefits under each such salaried employees’ benefit program that are no less favorable to Employee than the benefits that were provided to Employee under such benefit plan on May 31, 2007 (or would have been provided to Employee under such benefit plan as of May 31, 2007 if Employee had been employed by Employer and covered by such benefit plan on May 31, 2007), including but not limited to post retirement benefits; and (iii) provide Employee with the use of an automobile. Use of the automobile shall be subject to such rules and limitations as Employer may establish from time to time. Salary payments shall be subject to withholding and other applicable taxes. All compensation payable under the Executive Bonus Plans referred to in subparagraph (c) immediately below shall be included in the calculation of Employee’s retirement benefits. In addition to any other benefits that may apply to Employee, or that may be implemented during the term of this Agreement, Employer shall provide to Employee such additional life insurance on the life of Employee as shall be necessary to cause the aggregate of the life insurance provided by Employer on the life of Employee to equal not less than three and one-fourth (3¼) times Employee’s base salary, and the costs of all such life insurance aggregating three and one-fourth (3¼) times Employee’s base salary shall be borne 100% by Employer.

Appears in 2 contracts

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc), Executive Employment Agreement (North Pittsburgh Systems Inc)

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By Employer. For all services rendered by Employee hereunder, Employer shall (i) pay Employee a base annual salary, payable in equal monthly installments, one at the end of each monthly period, with the base annual salary presently in effect through December 31, 2007 being $215,855256,200; (ii) include the Employee as a participant in the Employer’s salaried employees’ benefit programs and provide to Employee benefits under each such salaried employees’ benefit program that are no less favorable to Employee than the benefits that were provided to Employee under such benefit plan on May 31, 2007 (or would have been provided to Employee under such benefit plan as of May 31, 2007 if Employee had been employed by Employer and covered by such benefit plan on May 31, 2007), including but not limited to post retirement benefits; and (iii) provide Employee with the use of an automobile. Use of the automobile shall be subject to such rules and limitations as Employer may establish from time to time. Salary payments shall be subject to withholding and other applicable taxes. All compensation payable under the Executive Bonus Plans referred to in subparagraph (c) immediately below shall be included in the calculation of Employee’s retirement benefits. In addition to any other benefits that may apply to Employee, or that may be implemented during the term of this Agreement, Employer shall provide to Employee such additional life insurance on the life of Employee as shall be necessary to cause the aggregate of the life insurance provided by Employer on the life of Employee to equal not less than three and one-fourth (3¼) times Employee’s base salary, and the costs of all such life insurance aggregating three and one-fourth (3¼) times Employee’s base salary shall be borne 100% by Employer.

Appears in 1 contract

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc)

By Employer. For all services rendered by Employee hereunder, Employer shall (i) pay Employee a base annual salary, payable in equal monthly installments, one at the end of each monthly period, with the base annual salary presently in effect through December 31, 2007 being $215,855250,855; (ii) include the Employee as a participant in the Employer’s salaried employees’ benefit programs and provide to Employee benefits under each such salaried employees’ benefit program that are no less favorable to Employee than the benefits that were provided to Employee under such benefit plan on May 31, 2007 (or would have been provided to Employee under such benefit plan as of May 31, 2007 if Employee had been employed by Employer and covered by such benefit plan on May 31, 2007), including but not limited to post retirement benefits; and (iii) provide Employee with the use of an automobile. Use of the automobile shall be subject to such rules and limitations as Employer may establish from time to time. Salary payments shall be subject to withholding and other applicable taxes. All compensation payable under the Executive Bonus Plans referred to in subparagraph (c) immediately below shall be included in the calculation of Employee’s retirement benefits. In addition to any other benefits that may apply to Employee, or that may be implemented during the term of this Agreement, Employer shall provide to Employee such additional life insurance on the life of Employee as shall be necessary to cause the aggregate of the life insurance provided by Employer on the life of Employee to equal not less than three and one-fourth (3¼) times Employee’s base salary, and the costs of all such life insurance aggregating three and one-fourth (3¼) times Employee’s base salary shall be borne 100% by Employer.

Appears in 1 contract

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc)

By Employer. For all services rendered by Employee hereunder, Employer shall (i) pay Employee a base annual salary, payable in equal monthly installments, one at the end of each monthly period, with the base annual salary presently in effect through December 31, 2007 being $215,855255,800; (ii) include the Employee as a participant in the Employer’s salaried employees’ benefit programs and provide to Employee benefits under each such salaried employees’ benefit program that are no less favorable to Employee than the benefits that were provided to Employee under such benefit plan on May 31, 2007 (or would have been provided to Employee under such benefit plan as of May 31, 2007 if Employee had been employed by Employer and covered by such benefit plan on May 31, 2007), including but not limited to post retirement benefits; and (iii) provide Employee with the use of an automobile. Use of the automobile shall be subject to such rules and limitations as Employer may establish from time to time. Salary payments shall be subject to withholding and other applicable taxes. All compensation payable under the Executive Bonus Plans referred to in subparagraph (c) immediately below shall be included in the calculation of Employee’s retirement benefits. In addition to any other benefits that may apply to Employee, or that may be implemented during the term of this Agreement, Employer shall provide to Employee such additional life insurance on the life of Employee as shall be necessary to cause the aggregate of the life insurance provided by Employer on the life of Employee to equal not less than three and one-fourth (3¼) times Employee’s base salary, and the costs of all such life insurance aggregating three and one-fourth (3¼) times Employee’s base salary shall be borne 100% by Employer.

Appears in 1 contract

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc)

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By Employer. For all services rendered by Employee hereunder, Employer shall (i) pay Employee a base annual salary, payable in equal monthly installments, one at the end of each monthly period, with the base annual salary presently in effect through December 31, 2007 being $215,855240,800; (ii) include the Employee as a participant in the Employer’s salaried employees’ benefit programs and provide to Employee benefits under each such salaried employees’ benefit program that are no less favorable to Employee than the benefits that were provided to Employee under such benefit plan on May 31, 2007 (or would have been provided to Employee under such benefit plan as of May 31, 2007 if Employee had been employed by Employer and covered by such benefit plan on May 31, 2007), including but not limited to post retirement benefits; and (iii) provide Employee with the use of an automobile. Use of the automobile shall be subject to such rules and limitations as Employer may establish from time to time. Salary payments shall be subject to withholding and other applicable taxes. All compensation payable under the Executive Bonus Plans referred to in subparagraph (c) immediately below shall be included in the calculation of Employee’s retirement benefits. In addition to any other benefits that may apply to Employee, or that may be implemented during the term of this Agreement, Employer shall provide to Employee such additional life insurance on the life of Employee as shall be necessary to cause the aggregate of the life insurance provided by Employer on the life of Employee to equal not less than three and one-fourth (3¼) times Employee’s base salary, and the costs of all such life insurance aggregating three and one-fourth (3¼) times Employee’s base salary shall be borne 100% by Employer.

Appears in 1 contract

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc)

By Employer. For all services rendered by Employee hereunder, Employer shall (i) pay Employee a base annual salary, payable in equal monthly installments, one at the end of each monthly period, with the base annual salary presently in effect through December 31, 2007 being $215,855310,400; (ii) include the Employee as a participant in the Employer’s salaried employees’ benefit programs and provide to Employee benefits under each such salaried employees’ benefit program that are no less favorable to Employee than the benefits that were provided to Employee under such benefit plan on May 31, 2007 (or would have been provided to Employee under such benefit plan as of May 31, 2007 if Employee had been employed by Employer and covered by such benefit plan on May 31, 2007), including but not limited to post retirement benefits; and (iii) provide Employee with the use of an automobile. Use of the automobile shall be subject to such rules and limitations as Employer may establish from time to time. Salary payments shall be subject to withholding and other applicable taxes. All compensation payable under the Executive Bonus Plans referred to in subparagraph (c) immediately below shall be included in the calculation of Employee’s retirement benefits. In addition to any other benefits that may apply to Employee, or that may be implemented during the term of this Agreement, Employer shall provide to Employee such additional life insurance on the life of Employee as shall be necessary to cause the aggregate of the life insurance provided by Employer on the life of Employee to equal not less than three and one-fourth (3¼) times Employee’s base salary, and the costs of all such life insurance aggregating three and one-fourth (3¼) times Employee’s base salary shall be borne 100% by Employer. In addition, if Employee dies before he retires from his employment with Employer, Employer will pay for Employee’s wife’s benefit, in one lump sum payment, the actuarial differential between the aggregate benefits payable under the North Pittsburgh Telephone Company Retirement Plan and the North Pittsburgh Telephone Company Retirement Income Restoration Plan if he had retired as of the date of his death and the aggregate benefits payable under such Plans as a result of his death while still employed with Employer under this Agreement.

Appears in 1 contract

Samples: Executive Employment Agreement (North Pittsburgh Systems Inc)

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