Compensation and Benefits During Employment. During the Employment, the Company shall provide compensation and benefits to the Executive as follows.
Compensation and Benefits During Employment. Nucor will provide the following compensation and benefits to Executive:
(a) Nucor will pay Executive a Base Salary of $580,000 per year, paid not less frequently than monthly in accordance with Nucor’s normal payroll practices, subject to withholding by Nucor and other deductions as required by law. Executive’s base salary is subject to adjustment up or down by the Board at its sole discretion and without notice to Executive.
(b) Provided Executive remains in the position of an executive officer of Nucor Corporation, Executive will be a participant in and eligible to receive awards of incentive and equity-based compensation under and in accordance with the applicable terms and conditions of the AIP, the LTIP, and the Equity Award Plan, each as modified from time to time by, and in the sole discretion of, the Committee or the Board.
(c) Provided Executive remains in the position of an executive officer of Nucor Corporation, Executive will be eligible for all other employee benefits that are generally made available by Nucor Corporation to its executive officers, including the Nucor Corporation Supplemental Retirement Plan for Executive Officers (the “Supplemental Retirement Plan”), each as modified from time to time by, and in the sole discretion of, the Committee or the Board.
Compensation and Benefits During Employment. During the Employment, the Company shall provide compensation to Executive as follows:
(a) The Company shall pay Executive base compensation of $325,000. The Company shall be responsible for withholding for all taxes to the Internal Revenue Service as well as any and all other taxes payable in the United States including taxes payable to any state or local jurisdiction.
(b) The Company shall reimburse Executive for business expenses incurred by Executive in connection with Employment in acccordinance with the Company’s then-current policies.
(c) Executive will be entitled to participate in any health insurance or other employee benefit plan which the Company may adopt in the future.
(d) Executive will be entitled to thirty (30) days paid time off (PTO) per year. PTO days shall begin on 1st of January for each successive year. Unused PTO days shall expire on December 31 of each year and shall not roll-over into the next year. Other than the use of PTO days of illness or personal emergencies, PTO days must be pre-approved by Company.
(e) Executive will be entitled to participate in any incentive program or discretionary bonus program of the Company which may be implemented in the future by the Board of Directors.
(f) Executive will be entitled to participate in any stock option plan of the Company which may be approved in the future by the Board of Directors.
(g) The Company hereby agrees to maintain a directors and officer’s insurance policy of at leas $1,000,000 coverage in full force and effect during Executive’s period of Employment including renewals of this Agreement, and for a period no less than two years following Termination.
Compensation and Benefits During Employment. Nucor will provide the following compensation and benefits to Executive:
(a) Nucor will pay Executive a Base Salary of $464,900 per year, paid not less frequently than monthly in accordance with Nucor’s normal payroll practices, subject to withholding by Nucor and other deductions as required by law. The parties acknowledge and agree that this amount exceeds the base salary Executive was entitled to receive in the Prior Position. Executive’s base salary is subject to adjustment up or down by the Board at its sole discretion and without notice to Executive.
(b) Provided Executive remains in the position of an executive officer of Nucor Corporation, Executive will be a participant in and eligible to receive awards of incentive and equity-based compensation under and in accordance with the applicable terms and conditions of the AIP, the LTIP, and the Equity Award Plan, each as modified, amended and/or restated from time to time by, and in the sole discretion of, the Committee or the Board.
(c) Provided Executive remains in the position of an executive officer of Nucor Corporation, Executive will be eligible for all other employee benefits that are generally made available by Nucor Corporation to its executive officers, including the Nucor Corporation Supplemental Retirement Plan for Executive Officers (the “Supplemental Retirement Plan”), each as modified from time to time by, and in the sole discretion of, the Committee or the Board.
Compensation and Benefits During Employment. Nucor will provide the ------------------------------------------- following compensation and benefits to Employee:
(a.) Nucor will pay Employee a base salary of $277,200 per year, paid on a monthly basis, subject to withholding by Nucor and other deductions as required by law. This amount is subject to adjustment up or down by Nucor's Board of Directors at its sole discretion and without notice to Employee.
(b.) Employee will be eligible for bonuses based on the Senior Officer Incentive Compensation Plans, as modified from time to time by, and in the sole discretion of, the Board of Directors of Nucor.
(c.) Employee will be eligible for those employee benefits that are generally made available by Nucor to its employees.
(d.) Employee shall be eligible to participate in the Key Employees Incentive Stock Option Plan (the "Option Plan") in accordance with the applicable terms and conditions of the Option Plan and a Key Employee Stock Option Certificate issued to Employee.
Compensation and Benefits During Employment. Nucor will provide the following compensation and benefits to Executive:
(a) Nucor will pay Executive a base salary of Three Hundred Sixteen Thousand Seven Hundred Dollars ($316,700) per year, paid not less frequently than monthly in accordance with Nucor’s normal payroll practices, subject to withholding by Nucor and other deductions as required by law. The parties acknowledge and agree that this amount exceeds the base salary Executive was entitled to receive in the Prior Position. Executive’s base salary is subject to adjustment up or down by the Board at its sole discretion and without notice to Executive.
(b) Executive will be a participant in, and eligible to receive awards of incentive compensation under and in accordance with the applicable terms and conditions of, Nucor’s senior officer annual and long term incentive compensation plans, as modified from time to time by, and in the sole discretion of, the Board.
(c) Executive shall be a participant in, and eligible to receive awards of equity-based compensation under and in accordance with the applicable terms and conditions of, Nucor’s senior officer equity incentive compensation plans, as modified from time to time by, and in the sole discretion of, the Board.
(d) Executive will be eligible for those employee benefits that are generally made available by Nucor to its executive officers.
Compensation and Benefits During Employment. During the Employment, the Company shall provide compensation to Executive as follows.
(a) The Company shall pay Executive $7,500 per month in equal monthly installments. Executive shall be responsible for the payment of all taxes to the Internal Revenue Service as well as any and other taxes payable in the United States. Executive indemnifies the Company with respect to the payment of any and all taxes owing and due from Executive's compensation.
(b) The Company shall reimburse Executive for business expenses incurred by Executive in connection with the Employment in accordance with the Company's then-current policies.
(c) Executive will be entitled to participate in any health insurance or other employee benefit plan which the Company may adopt in the future.
(d) Executive will be entitled to five (5) weeks of vacation per year.
(e) Executive will be entitled to participate in any incentive program or discretionary bonus program of the Company which may be implemented in the future by the Board of Directors.
(f) Executive will be entitled to participate in any stock option plan of the Company which may be approved in the future by the Board of Directors. Any act, or failure to act, based upon authority given pursuant to a resolution duly adopted by the Board or based upon the advice of counsel for the Company shall be conclusively presumed to be done, or omitted to be done, by Executive in good faith and in the best interests of the Company and thus shall not be deemed grounds for Termination for Cause.
Compensation and Benefits During Employment. During the Employment, the Company shall provide compensation and benefits to the Employee as follows.
(a) The Company shall pay the Employee, subject to the terms and conditions of this Agreement, a base salary at the rate of not less than the "Initial Salary" set forth in Schedule 1, payable in accordance with the normal payroll practices of the Company but in no less than equal bi-weekly installments, less withholding required by law or agreed to by the Employee.
(b) As additional compensation for services hereunder, the Employee shall be entitled to an annual bonus with an "On-Target Amount" of not less than the amount set forth in Schedule 1. The actual bonus amount in any given year will be determined by and contingent upon the Company's achievement of financial performance objectives set by the Company from time to time for determining payment of bonuses to its senior executives. The bonus will be paid at the same time and in the same manner as the payment of bonuses to other senior executives of the Company.
(c) The Employee shall, upon satisfaction of any eligibility requirements with respect thereto, be entitled to participate in all employee benefit plans of the Company, including without limitation those health, dental, accidental death and dismemberment, and long term disability plans, 401(k) plans, pension or profit-sharing plans, stock option plans, and similar benefits, of the Company now or hereafter in effect that are made available to executive officers of the Company and on the same terms as offered to other executive officers of the Company.
(d) The Company shall maintain for the Employee the "Specific Benefits" summarized in Schedule 1, if any.
(e) The Company will reimburse the Employee for reasonable business expenses incurred by the Employee in connection with the Employment in accordance with the Company's then-current policies and IRS guidelines.
(f) During the Employment the Employee shall be entitled to sick leave, holidays, and an annual vacation, all in accordance with the regular policy of the Company for its executives (but in no event less than the "Minimum Annual Vacation" set forth in Schedule 1), during which time his compensation and benefits shall be paid or provided in full. Each such vacation shall be taken by the Employee at such times as may be mutually agreed upon by the Employee and Company.
Compensation and Benefits During Employment. Nucor will provide the following compensation and benefits to Executive:
Compensation and Benefits During Employment. During the Employment, the Company shall provide compensation to Executive as follows.
(a) Executive shall receive a different “Yearly Salary” depending on the year which Executive is employed under this Agreement, including: (i) (ii) (iii) a Yearly Salary of $425,000 for the twelve month period beginning January 1, 2008 and ending December 31, 2008; a Yearly Salary of $475,000 for the twelve month period beginning on January 1, 2009 and ending on December 31, 2009; and a Yearly Salary of $475,000 for the twelve month period beginning on January 1, 2010 and ending on December 31, 2010.
(b) Executive shall be entitled to a one-time bonus in the amount of $20,000 payable within ten (10) days of Executive’s entry into this Agreement in consideration for Executive’s help and guidance in connection with the Company’s wholly-owned subsidiary, Gulf Coast Oil Corporation closing $7,100,000 in financing for the drilling of up to fourteen xxxxx on its properties and the Company’s closing the $5,300,000 in financing for the drilling of up to six xxxxx and reworking two other existing xxxxx on its properties, which occurred in November 2007.
(c) In addition to Executive’s Yearly Salary, Executive may be granted bonus payments of cash or shares of the Company’s common stock from time to time at the discretion of the Company’s Board of Directors.
(d) The Company shall reimburse Executive for business expenses incurred by Executive in connection with the Employment in accordance with the Company’s then-current policies.
(e) The Company hereby agrees to give Executive a car allowance of $750.00 per month to be spent on obtaining and maintaining transportation for Executive.
(f) Executive will be entitled to participate in any health insurance or other employee benefit plan which the Company may adopt in the future.
(g) Executive will be entitled to twenty (20) days of paid time off (PTO) per year. PTO days shall begin on the 1st of January for each successive year. Unused PTO days shall roll-over into the next year. Other than the use of PTO days for illness or personal emergencies, PTO days must be pre-approved by the Company.
(h) Executive will be entitled to participate in any incentive program or discretionary bonus program of the Company which may be implemented in the future by the Board of Directors.
(i) Executive will be entitled to participate in any stock option plan of the Company which may be approved in the future by the Board of Directors.
(j) Executive may ...
