Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.
Effective Date of Agreement; Termination (a) This Agreement shall become effective when the parties hereto have executed and delivered this Agreement.
(b) The obligations of the Underwriter hereunder shall be subject to termination in the absolute discretion of the Underwriter, if since the time of execution of this Agreement, there shall have occurred: (i) a suspension or material limitation in trading in securities generally on the NYSE; (ii) a suspension or material limitation in trading in the Partnership’s securities on the NYSE, other than in the circumstances described in clause (i) above; (iii) a general moratorium on commercial banking activities declared by either federal or New York State authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States; (iv) an outbreak or escalation of hostilities or acts of terrorism involving the United States or a declaration by the United States of a national emergency or war; or (v) any other calamity or crisis or any change in financial, political or economic conditions in the United States or elsewhere, if the effect of any such event specified in clause (iv) or (v), in the sole judgment of the Underwriter, makes it impractical or inadvisable to proceed with the public offering or the delivery of the Units on the terms and in the manner contemplated in the Registration Statement, the Pricing Disclosure Package and the Prospectus.
(c) If the Underwriter elects to terminate this Agreement as provided in this Section 9, the Partnership and the Selling Unitholders shall be notified promptly in writing.
(d) If the sale to the Underwriter of the Units, as contemplated by this Agreement, is not carried out by the Underwriter for any reason permitted under this Agreement, or if such sale is not carried out because the Partnership Parties or the Selling Unitholders shall be unable to comply with any of the terms of this Agreement, the Partnership Parties and the Selling Unitholders shall not be under any obligation or liability to the Underwriter under this Agreement (except to the extent provided in Sections 6(r), 8 and 10) and the Underwriter shall not be under any obligation or liability to the Partnership Parties or the Selling Unitholders under this Agreement (except to the extent provided in Section 10 hereof) or to one another hereunder.
Base Salary In consideration of the services to be rendered as provided in Section 1, the Company hereby agrees to pay the Executive an annual base salary of $240,000 payable in equal weekly installments in accordance with the usual practice of the Company (the “Base Salary”). The Executive's Base Salary shall be subject to annual review by the Board of Directors of the Company (the “BOD”).
Annual Base Salary Executive’s annual base salary (the “Annual Base Salary”) shall be Eight-Hundred Thousand Dollars ($800,000), payable in accordance with the Company’s normal payroll practices. The Annual Base Salary may be increased from time to time at the discretion of the Compensation Committee (the “Committee”) of the Board of Directors of Mylan N.V. (the “Board”), or any other committee or individual authorized by the Board.
