Common use of Cash Compensation and Benefits Clause in Contracts

Cash Compensation and Benefits. As of the Effective Date, your salary will be at the rate of USD $585,000 on an annualized basis (“Base Salary”), which will be paid in accordance with the Company’s normal payroll procedures and subject to applicable payroll withholdings and deductions. Your salary is subject to review and adjustment by the Company in its sole discretion. In addition, you will be eligible for an annual, discretionary performance bonus with a target of 40% of your Base Salary for calendar year 2023, and commencing with calendar year 2024 you will be eligible for an annual discretionary performance bonus with a target of 50% of your Base Salary (the “Annual Performance Bonus”), subject to attainment of certain corporate goals (the “Performance Goals”) to be established by Tourmaline’s Board of Directors (the “Tourmaline Board”) and your individual performance during the applicable year. The Annual Performance Bonus and the applicable Performance Goals are subject to review and adjustment by the Tourmaline Board annually. The decision to award the Annual Performance Bonus and the amount of the Annual Performance Bonus, if awarded, will be determined at the sole discretion of the Tourmaline Board upon the Tourmaline Board’s good faith review of the satisfaction of the Performance Goals and your individual performance in the applicable year. The amount of an Annual Performance Bonus for the previous year, if awarded, will be determined by the Tourmaline Board in the first quarter of each fiscal year, and if awarded, the Annual Performance Bonus for a given year will be paid in the next payroll cycle following the Tourmaline Board’s determination of the amount of the Annual Performance Bonus. Notwithstanding anything herein to the contrary, you must be employed by the Company or an affiliate of the Company on the date of payment of such Annual Performance Bonus, and such Annual Bonus is not earned until paid. As a full-time, regular employee of the Company, you will remain eligible for Company benefits in accordance with the Company’s applicable benefit plans and policies for similarly situated employees, subject to plan terms, generally applicable Company policies, and any applicable waiting periods. The Company may change your compensation and benefits from time to time in its discretion.

Cash Compensation and Benefits. As of the Effective Date, your salary will be at the rate of USD $585,000 425,000 on an annualized basis (“Base Salary”), which will be paid in accordance with the Company’s normal payroll procedures and subject to applicable payroll withholdings and deductions. Your salary is subject to review and adjustment by the Company in its sole discretion. In addition, you will be eligible for an annual, discretionary performance bonus with a target of 40% of your Base Salary for January and February 2023, 35% of your Base Salary for the remainder of calendar year 2023, and commencing with calendar year 2024 you will be eligible for an annual discretionary performance bonus with a target of 5040% of your Base Salary (the “Annual Performance Bonus”), subject to attainment of certain corporate goals (the “Performance Goals”) to be established by Tourmaline’s Board of Directors (the “Tourmaline Board”) and your individual performance during the applicable year. The Annual Performance Bonus and the applicable Performance Goals are subject to review and adjustment by the Tourmaline Board annually. The decision to award the Annual Performance Bonus and the amount of the Annual Performance Bonus, if awarded, will be determined at the sole discretion of the Tourmaline Board upon the Tourmaline Board’s good faith review of the satisfaction of the Performance Goals and your individual performance in the applicable year. The amount of an Annual Performance Bonus for the previous year, if awarded, will be determined by the Tourmaline Board in the first quarter of each fiscal year, and if awarded, the Annual Performance Bonus for a given year will be paid in the next payroll cycle following the Tourmaline Board’s determination of the amount of the Annual Performance Bonus. To the extent the Tourmaline Board delegates one or more of its authorities with respect to the Annual Performance Bonus and Performance Goals set forth in this paragraph to the Compensation Committee of the Tourmaline Board (the “Compensation Committee”), references to the Tourmaline Board in this paragraph shall mean the Compensation Committee. Notwithstanding anything herein to the contrary, you must be employed by the Company or an affiliate of the Company on the date of payment of such Annual Performance Bonus, and such Annual Bonus is not earned until paid. As a full-time, regular employee of the Company, you will remain eligible for Company benefits in accordance with the Company’s applicable benefit plans and policies for similarly situated employees, subject to plan terms, generally applicable Company policies, and any applicable waiting periods. The Company may change your compensation and benefits from time to time in its discretion.

Cash Compensation and Benefits. As of the Effective Date, your salary will be at the rate of USD $585,000 400,000 on an annualized basis (“Base Salary”), which will be paid in accordance with the Company’s normal payroll procedures and subject to applicable payroll withholdings and deductions. Your salary is subject to review and adjustment by the Company in its sole discretion. In addition, you will be eligible for an annual, discretionary performance bonus with a target of 4035% of your Base Salary for calendar year 2023, and commencing with calendar year 2024 you will be eligible for an annual discretionary performance bonus with a target of 5040% of your Base Salary (the “Annual Performance Bonus”), subject to attainment of certain corporate goals (the “Performance Goals”) to be established by Tourmaline’s Board of Directors (the “Tourmaline Board”) and your individual performance during the applicable year. The Annual Performance Bonus and the applicable Performance Goals are subject to review and adjustment by the Tourmaline Board annually. The decision to award the Annual Performance Bonus and the amount of the Annual Performance Bonus, if awarded, will be determined at the sole discretion of the Tourmaline Board upon the Tourmaline Board’s good faith review of the satisfaction of the Performance Goals and your individual performance in the applicable year. The amount of an Annual Performance Bonus for the previous year, if awarded, will be determined by the Tourmaline Board in the first quarter of each fiscal year, and if awarded, the Annual Performance Bonus for a given year will be paid in the next payroll cycle following the Tourmaline Board’s determination of the amount of the Annual Performance Bonus. To the extent the Tourmaline Board delegates one or more of its authorities with respect to the Annual Performance Bonus and Performance Goals set forth in this paragraph to the Compensation Committee of the Tourmaline Board (the “Compensation Committee”), references to the Tourmaline Board in this paragraph shall mean the Compensation Committee. Notwithstanding anything herein to the contrary, you must be employed by the Company or an affiliate of the Company on the date of payment of such Annual Performance Bonus, and such Annual Bonus is not earned until paid. As a full-time, regular employee of the Company, you will remain eligible for Company benefits in accordance with the Company’s applicable benefit plans and policies for similarly situated employees, subject to plan terms, generally applicable Company policies, and any applicable waiting periods. The Company may change your compensation and benefits from time to time in its discretion.

Cash Compensation and Benefits. As of the Effective Date, your salary will shall be at the rate of USD $585,000 445,000 on an annualized basis (“Base Salary”), which will shall be paid in accordance with the Company’s 's normal payroll procedures and subject to applicable payroll withholdings and deductions. Your salary is subject to review and adjustment by the Company in its sole discretion. In addition, you will be eligible for an annual, discretionary performance bonus with a target of 40% of your Base Salary, applicable to Base Salary for calendar year 2023earned from the Effective Date, and commencing with calendar year 2024 you will be eligible for an annual discretionary performance without prejudice to your bonus with a target of 50% of your Base Salary eligibility effective prior to the Effective Date pursuant to the Prior Agreement (the “Annual Performance Bonus”), subject to attainment of certain corporate goals (the “Performance Goals”) to be established by TourmalineXxxxxxxxxx’s Board of Directors (the “Tourmaline Board”) and your individual performance during the applicable year. The Annual Performance Bonus and the applicable Performance Goals are subject to review and adjustment by the Tourmaline Board annually. The decision to award the Annual Performance Bonus and the amount of the Annual Performance Bonus, if awarded, will be determined at the sole discretion of the Tourmaline Board upon the Tourmaline Board’s good faith review of the satisfaction of the Performance Goals and your individual performance in the applicable year. The amount of an Annual Performance Bonus for the previous year, if awarded, will be determined by the Tourmaline Board in the first quarter of each fiscal year, and if awarded, the Annual Performance Bonus for a given year will be paid in the next payroll cycle following the Tourmaline Board’s determination of the amount of the Annual Performance Bonus. To the extent the Tourmaline Board delegates one or more of its authorities with respect to the Annual Performance Bonus and Performance Goals set forth in this paragraph to the Compensation Committee of the Tourmaline Board (the “Compensation Committee”), references to the Tourmaline Board in this paragraph shall mean the Compensation Committee. Notwithstanding anything herein to the contrary, you must be employed by the Company or an affiliate of the Company on the date of payment of such Annual Performance Bonus, and such Annual Bonus is not earned until paid. As a full-time, regular employee of the Company, you will remain eligible for Company benefits in accordance with the Company’s applicable benefit plans and policies for similarly situated employees, subject to plan terms, generally applicable Company policies, and any applicable waiting periods. The Company may change your compensation and benefits from time to time in its discretion.