Chairman Compensation Sample Clauses

Chairman Compensation a. As compensation for serving as chairman, manager and board committee member, the Company shall pay to Chairman an annual fee of Twenty-Five Thousand Dollars (US $25,000.00) (the “Chairman Fee") and shall grant an annual option (the “Chairman Option”) to purchase Six Thousand Two Hundred Fifty (6,250) common units of Rio Vista Energy Partners L.P. (the “Partnership”), providing Chairman the right, but not the obligation, to buy such units at an exercise price equal to not less than one hundred percent (100%) of the fair market value of such units on the day of the grant, for a period of not more than five (5) years. Fair market value shall be determined in accordance with the equity plan under which the Chairman Option is granted and otherwise in accordance with applicable law and regulation. In lieu of determining the number of units subject to the Chairman Option based on a fixed number of units, the Board of Managers may, in its sole discretion, grant the Chairman Option based on a fixed dollar valuation of the option itself, such value determined in accordance with the Company’s usual accounting procedures. As a condition to the exercise of the Chairman Option, the Board of Managers may, in its sole discretion, impose a condition of continued services for a period of not more than one (1) year following the date of grant. b. As compensation for performance of additional Board Services and Committee Services, the Company shall pay to Chairman an additional fee of One Thousand Two Hundred Fifty Dollars (US $1,250.00) per Working Day (the “Additional Fees”) except as otherwise set forth herein. “Working Day” means a calendar day during which Chairman provides significant Board Services or Committee Services to the Company, including without limitation the attendance of meetings of the Board of Managers and any committees of the Board of Managers, and specifically including days spent solely or primarily in travel to or from locations at which Chairman provides Board Services or Committee Services. Chairman shall not receive any Additional Fees for preparing for and attending on an annual basis four (4) quarterly meetings of the Board of Managers, four (4) quarterly meetings of any committee of the Board of Managers of which Chairman is a member, one (1) annual meeting of the members of the Company, and one (1) annual meeting of unitholders of the Partnership, if any. Each payment of Additional Fees is subject to review and approval by the Board of Manag...
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Chairman Compensation. Xxxxxx X. Xxxxxx shall not be entitled to any compensation for his service as Chairman of New Topco. Consultancy Agreement: At the option of the board of directors of New Topco, Xxxxx Xxxxxxx will be offered a consultancy agreement with New Topco pursuant to which he shall provide M&A consultancy and advice services to New Topco for a period of 24 months post-Closing, with the consideration to be agreed by the parties thereto and otherwise on terms and conditions customary for such an agreement. For the avoidance of doubt, the Surviving Founder Shares transferred to Xxxxx Xxxxxxx as contemplated by this Term Sheet are not being transferred to Xxxxx Xxxxxxx in consideration for, nor conditioned or otherwise related to, entering into a consultancy agreement with New Topco. Fees, Costs and Expenses: Each party shall bear its own costs in relation to the negotiation, preparation and execution of the Documents.
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Chairman Compensation. During the term of your service as Chairman of the Board, you shall continue to receive the compensation to which you are entitled to as Chairman of the Board (currently consisting of quarterly cash retainers of $12,500 and an annual stock option grant to purchase 22,000 shares of Company common stock).
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Chairman Compensation. Commencing as of August 13, 2013 and through November 13, 2013, the Company shall pay the Chairman $41,666.67 per month for services as the Chairman of the Board, payable on a monthly basis in accordance with the Company’s policy for payments to Board members; and commencing on November 14, 2013 through the remainder of the Term, the Company shall pay the Chairman $12,500 per month for services as the Chairman of the Board, payable on a quarterly basis in accordance with the Company’s policy for payments to Board Members (collectively, “Chairman Compensation”). Such Chairman Compensation shall be prorated for any partial year of service on the basis of a 365-day fiscal year.
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Chairman Compensation. As Chairman of the Board, commencing January 2, 2014, you will receive an annual retainer of US$200,000 per annum, payable in cash or, at your election, in deferred share units granted on the Initial Trading Date in accordance with the Directors’ Deferred Share Unit Plan of the Company (as amended or replaced from time to time, the “DSU Plan”). In addition, as Chairman, commencing January 2, 2014 you will also be entitled to receive an annual grant of deferred share units under the DSU Plan having a Fair Market Value (as defined in the DSU Plan) of US$250,000 credited to you in accordance with the DSU Plan, with the initial grant in respect of Fiscal 2014 to be made on the Initial Trading Date and having a Fair Market Value of US$187,500, (representing 75 percent of the annual grant in recognition of the partial year) and all grants thereafter being made by the Board (or any committee thereof) on a basis consistent with grants of deferred share units made to outside directors of the Company. In your role as Chairman, you will continue to have an office in Waterloo, and receive reasonable support from the Company.
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Chairman Compensation. The Company will pay Chairman, the sum of --------------------- Five Thousand Dollars ($5,000) on or prior to the last day of each month during the term of this Agreement; provided Chairman continues to provide services to the Company.
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Chairman Compensation. As used herein, Chairman Compensation shall mean: (i) an annual cash payment of $1,000,000, payable on the first day of the Chairman Period as defined in Section 4(a)(iv) and on the first and second anniversaries thereof; and (ii) participation in the Directors' Charitable Gift Plan during the Chairman Period; and (iii) during the Chairman Period, (A) continued participation in the benefit plans described in Sections 2(b)(iv) and 2(b)(vi), (B) continued reimbursement for expenses under Section 2(b)(v), (C) coverage under the same comprehensive security program the Executive participated in pursuant to Section 11(b) during employment, in the same manner as if he had continued employment as Chief Executive Officer during the Chairman Period, including a complete gross up for any taxes incurred by the Executive as a result of such continued coverage, and (D) continued participation in the Conoco Domestic Relocation Policy with respect to a single relocation, at the election of the Executive. In the event that the Company fails to maintain the Executive as nonexecutive Chairman of the Board during the Chairman Period, all Chairman Compensation shall continue to be provided during the Chairman Period as though the Executive had continued as nonexecutive Chairman during the Chairman Period, except that (x) coverage described in item (iii)(C) above shall be discontinued and (y) all cash compensation payable pursuant to item (i) above shall be immediately due and payable, without any discounting for accelerated payment.
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Related to Chairman Compensation

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • Director Compensation Petitioner shall not compensate members of the Charter School’s Governing Board in excess of reasonable expenses incurred in connection with actual attendance at board meetings or with performance of duties associated therewith.

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125.00 per hour.

  • Compensation Benefits Etc During the Employment Period, the Manager shall be compensated as follows: (a) The Manager shall (i) receive an annual cash base salary, payable not less frequently than semi-monthly, which is not less than the annualized cash base salary payable to Manager as of the Effective Date; (ii) be entitled to at least as favorable annual incentive award opportunity under the Company's annual incentive compensation plan as he did in the calendar year immediately prior to the year in which the Change of Control Event occurs; and (iii) be eligible to participate in all of the Company's long-term incentive compensation plans and programs on terms that are at least as favorable to the Manager as provided to the Manager in the four calendar years prior to the Effective Date. (b) The Manager shall be entitled to receive fringe benefits, employee benefits, and perquisites (including, but not limited to, vacation, medical, disability, dental, and life insurance benefits) which are at least as favorable to those made generally available as of the Effective Date to all of the Company's salaried managers as a group. In addition, the Manager shall be eligible to participate in the Company's Supplemental Retirement Income Program ("SRIP"). (c) Notwithstanding any other provision of this Agreement (whether in this Section 4, in Section 6, or elsewhere), (i) the Board of Directors may authorize an increase in the amount, duration, and nature of and/or the acceleration of any compensation or benefits payable under this Agreement, as well as waive or reduce the requirements for entitlement thereto and (ii) the Company may deduct from amounts otherwise payable to the Manager such amounts as it reasonably believes it is required to withhold for the payment of federal, state, and local taxes.

  • Compensation Benefits In accordance with Section 142 of the State Finance Law, this contract shall be void and of no force and effect unless the Contractor shall provide and maintain coverage during the life of this contract for the benefit of such employees as are required to be covered by the provisions of the Workers' Compensation Law.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

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