Compensation and Benefits During the Term. (a) As a non-employee member of the Company’s Board of Directors, following the Retirement Date the Executive shall be entitled to receive the compensation payable to the Company’s non-employee directors, which compensation shall be prorated during the first fiscal year from the Retirement Date. In addition, during the Term the Executive shall receive an additional Non-Executive Chairman annual retainer of $150,000, which retainer shall be prorated for partial year service.
Compensation and Benefits During the Term. (a) BASE SALARY: Executive's annual base salary shall be FOUR HUNDRED SEVENTY-FIVE THOUSAND DOLLARS ($475,000.00), shall be FIVE HUNDRED THOUSAND DOLLARS ($500,000.00) effective March 1, 1997, and shall be reviewed annually commencing March 1998 in conjunction with normal salary administration. Any increases will be based on Executive's achievement of goals, performance of Employer and prevailing competitive
Compensation and Benefits During the Term. During the Term, the Company agrees (a) to pay Consultant at the rate of $200,000 annually, and (b) to provide for the continuation, at the Company’s expense, of substantially the same health benefits in effect for Consultant immediately prior to the commencement of the Term.
Compensation and Benefits During the Term. During the Term, the Company agrees (a) to pay Consultant at the rate of $290,000 annually in periodic installments, and (b) to provide for the continuation, at the Company’s expense (subject to contributions by Consultant at the same rate as employees of the Company), of substantially the same health benefits in effect for Consultant immediately prior to the commencement of the Term. In addition, notwithstanding any provision to the contrary in the Company’s Long Term Incentive Plan (the “LTIP”), Consultant shall be entitled to receive the payments relating to any Deferred Award (as defined in the LTIP) with respect to any Performance Period (as defined in the LTIP) in accordance with terms of the LTIP, if (a) Consultant is either an employee of the Company or a consultant to the Company under the Consulting Agreement at the time such Deferred Award vests, or (b) Consultant is otherwise entitled to such payments pursuant to the terms of the LTIP.
Compensation and Benefits During the Term
