Compensation and Benefits. Subject to the terms and conditions of this Agreement, during the Employment Period, while Executive is employed by the Employer, the Employer shall compensate Executive for Executive’s services as follows for periods following the Effective Date:
(a) Executive shall be compensated at an annual rate of $290,000 (the “Annual Base Salary”), which shall be payable in accordance with the Employer’s normal payroll practices as are in effect from time to time. Beginning on January 1, 2012 and on each anniversary of such date, Executive’s rate of Annual Base Salary shall be reviewed by the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the “Board”), and following such review, the Annual Base Salary may be adjusted upward but in no event will it be decreased.
(b) Executive shall be entitled to receive performance based annual incentive bonuses (each, the “Incentive Bonus”) from the Employer for each fiscal year ending during the Employment Period. Any such Incentive Bonus shall be paid to Executive within thirty (30) days of the completion of the annual audit by the Company’s auditor, but in no event later than two and one-half months after the close of each such fiscal year. Executive’s target Incentive Bonus shall be not less than forty percent (40%) of the Annual Base Salary, which Incentive Bonus shall be determined by specific performance criteria established from time to time by the Compensation Committee.
(c) Executive shall be eligible to participate, subject to the terms and conditions thereof, in all other incentive plans and programs, including such cash and deferred bonus programs and equity incentive plans as may be in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. Executive and Executive’s dependents, as the case may be, shall be eligible to participate in all pension and similar benefit plans (qualified, non-qualified and supplemental), profit sharing, 401(k), as well as all medical and dental, disability, group and executive life, accidental death and travel accident insurance, and other similar welfare benefit plans and programs of the Employer, subject to the terms and conditions thereof, as in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives.
(d) Executive shall be...
Compensation and Benefits. As compensation for all services performed by the Executive under and during the term hereof and subject to performance of the Executive’s duties and of the obligations of the Executive to the Company and its Affiliates, pursuant to this Agreement or otherwise:
Compensation and Benefits. During the Employment Term, the Executive shall be entitled to the following compensation and benefits:
Compensation and Benefits. The regular compensation and benefits payable to the Executive under this Agreement shall be as follows:
Compensation and Benefits. The Company shall pay or provide, as the case may be, to Executive the compensation and other benefits and rights set forth in this Section 3.
Compensation and Benefits. In consideration of the Executive’s performance of his duties hereunder, the Company shall provide the Executive with the following compensation and benefits during the term of his employment hereunder.
Compensation and Benefits. (a) The Employers shall compensate and pay the Executive for services during the term of this Agreement at a minimum base salary of $195,000 per year (“Base Salary”), which may be increased from time to time in such amounts as may be determined by the Board of Directors of the Employers and may not be decreased without the Executive's express written consent. The Executive’s Base Salary shall be paid in periodic installments (not less than monthly) in accordance with the general payroll practices of the Employers, as in effect from time-to-time.
(b) During the term of this Agreement, the Executive shall be entitled to participate in and receive the benefits of any pension or other retirement benefit plan, profit sharing, stock option, employee stock ownership, or other plans, benefits and privileges given to employees and executives of the Employers, to the extent commensurate with Executive’s then duties and responsibilities as fixed by the Boards of Directors of the Employers.
(c) Executive shall be entitled to receive all benefits and conditions of employment generally available to other executives of Employers, including, without limitation, sick leave, disability, accident, life, hospitalization, medical and dental insurance, paid holidays, and participation in any pension, profit sharing or other retirement plan pursuant to the terms of said plans
(d) Executive shall accrue paid vacation at the rate of three weeks per year and paid sick leave at the rate of two hours per pay period unless extended for years of service as governed by the Employer’s Employee Handbook. Except as stated herein, other terms and conditions of Executive’s vacation and sick pay shall be governed by Employer’s Employee Handbook, as amended from time-to-time.
(e) Executive shall be eligible for a discretionary performance bonus not to exceed 100% of Executive’s Base Salary, based on individual performance and overall performance of the Employers. The criteria for determining eligibility and the amount of any bonus shall be in the discretion of the Compensation Committee of the Employer’s Board of Directors. Such bonus, if any, shall be paid between January 1 and March 15 following the year during which performance is measured.
Compensation and Benefits. (a) Effective March 27, 2022, during the Employment Period, Executive’s base salary shall increase from $410,000 to $450,000 per annum, payable by the Company in regular installments in accordance with the Company’s general payroll practices, less taxes and other applicable withholdings, and subject to review and adjustment from time to time by the Board or the Compensation Committee thereof (the “Committee”), in either case, in its discretion (as modified from time to time, the “Base Salary”).
(b) In addition, during the Employment Period, Executive shall be entitled to participate in all of the Company’s benefit programs for which employees of the Company are generally eligible, subject to the eligibility and participation requirements thereof, including, but not limited to, the following:
(i) medical, dental, vision, life and disability insurance, as is generally provided to other employees of the Company; and
(ii) eligibility for vacation time in accordance with the policies of the Company as from time to time in effect.
(iii) participation in the existing Symbion, Inc. supplemental Executive Retirement Plan, or its equivalent or a successor plan, with a minimum of a two percent (2%) match for executive.
(c) During the Employment Period, the Company shall reimburse Executive for all reasonable out-of-pocket expenses incurred by his/her in the course of performing his/her duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. Executive’s right to payment or reimbursement for business expenses hereunder will be subject to the following additional rules: (i) no reimbursement of any expense shall affect Executive’s right to reimbursement of any other expense in any other taxable year; (ii) the amount of expenses eligible for payment or reimbursement during any calendar year will not affect the expenses eligible for payment or reimbursement in any other taxable year; (iii) payment or reimbursement will be made not later than December 31 of the calendar year following the calendar year in which the expense was incurred or paid, and (iv) the right to payment or reimbursement is not subject to liquidation or exchange for any other benefit.
(d) In addition to the Base Salary, Executive will be eligible to receive an annual bonu...
Compensation and Benefits. As payment for the services to be rendered by the Executive hereunder during the Term of this Agreement, the Executive shall be entitled to the following:
(a) receive payment of the Executive’s annual base salary at the rate of not less than US $750,000.00 a year, subject to federal, state and local taxes and less deductions required by federal, state and local taxes and as otherwise required by law, payable in accordance with the Employer’s standard payroll schedule, but not less frequently than monthly; the Board (or a committee thereof) may, but shall not be required to, increase the annual base salary during the Term; the Executive’s annual base salary, as in effect from time to time, is referred to herein as the “Base Salary”;
(b) participate in any short-term and long-term incentive compensation plans, discretionary annual bonus plans and such other management incentive programs of the Company, if any, approved by the Board that are generally available to the Company’s senior executives as determined by the Board in its sole discretion and may receive annual performance cash awards (“Annual Cash Awards”) at the rate of 100% of Base Salary (the “Target Percentage”), if certain performance goals are reached as identified and approved by the Compensation Committee of the Board (the “Compensation Committee”), but not to exceed the maximum award permissible under the applicable incentive plan for such Annual Cash Awards, it being understood that Annual Cash Awards at targeted levels of performance and the actual amount of each Annual Cash Award shall be determined in the discretion of the Compensation Committee, and the Executive’s participation in one year shall not guarantee participation in any other year, and the establishment of any such plan in one year shall not require such plan in any other year;
(c) the Executive will be entitled to participate, on the same basis generally as other similarly situated employees of the Company, in all employee benefits plans and programs, subject to the terms of such plans, as may be offered by the Company from time to time;
(d) reimbursement of reasonable expenses incurred by the Executive in accordance with such expense reimbursement policies of the Company as in effect from time to time; and
(e) paid vacation of six(6) weeks per year, subject to the Company’s or its affiliates’ policies respecting vacation as in effect from time to time.
(f) the Executive may be eligible to participate in the SAExploration Hold...
Compensation and Benefits. In consideration for the services Executive shall render under this Agreement, Company shall provide or cause to be provided to Executive the following compensation and benefits:
