Compensation and Bonus. For all of the services rendered by Employee pursuant to this Agreement, the Corporation shall pay the Employee his or her current annual base salary. In no event shall Employee’s current annual base salary be decreased, but it may, from time to time be increased at the discretion of Employer during the term of this Agreement (hereinafter referred to as Compensation), payable in accordance with the Corporation’s normal pay practices during the term of Employee’s employment. In addition, the Corporation may pay Employee a bonus, as may be determined pursuant to any bonus plan applicable to the Employee for such year, if any, approved by the Corporation’s Board of Directors from time-to-time in its sole and absolute discretion. Employee may provide a written election to have any bonus due in December of any year paid in January of the following year.
Compensation and Bonus. (a) The Company agrees to pay the Employee throughout the Employment Term an initial base salary at the gross rate of $275,000 per annum (as adjusted in accordance with this Section 4(a), hereinafter the “Base Salary”), which shall be payable in equal installments in accordance with Company payroll practices from time to time in effect and subject to applicable withholdings and deductions. The Employee’s Base Salary will be reviewed in good faith annually by the CEO or the Board (or the compensation committee thereof) and will be increased (but not decreased) by the Board or the compensation committee, after taking into consideration the recommendation of the CEO, from time to time, based upon any increase in the scope of the Employee’s duties or responsibilities and any other relevant factors.
Compensation and Bonus a. For all of the services rendered by Employee pursuant to this Agreement, the Corporation shall pay the Employee an annual base salary of not less than $475,000 (hereinafter referred to as ("Compensation"), payable in accordance with the Corporation's normal pay practices during the term of Employee's employment. In no event shall Employee's current annual base salary be decreased, but it may, from time to time be increased at the discretion of Corporation during the term of this Agreement. The Compensation shall be paid on a calendar-year basis, and shall be pro rated for any partial year.
Compensation and Bonus. Executive’s base salary will be at the rate of $210,000 per annum, for the Initial Contract Term as defined in Section 6 of this Agreement. Thereafter, for any Renewal Term, as defined in Section 6 of this Agreement, Executive’s base salary will be determined by the Board, but shall not be less than $210,000 per annum. Executive’s base salary shall be paid in twenty-six (26) equal bi-weekly payments. In addition to base salary, beginning with the calendar year 2004, Executive will be eligible to receive an annual bonus, based upon meeting or exceeding performance objectives (the Performance Target) determined annually by the Board of Directors of Company. Executive will be consulted in the determination of the Performance Target, but the Board of Directors of Company will have the sole discretion to establish the Performance Target. No bonus will be paid for the calendar year ending December 31, 2003. The Performance Target will be established on or before January 1, 2004, by the Compensation Committee of the Board. Attainment of 80% , but less than 100%, of the Performance Target will result in payment of an amount equal to one-third (1/3) of the Bonus Fund (defined below). Attainment of 100%, but less than 120%, of the Performance Target will result in payment of an amount equal to two-thirds (2/3) of the Bonus Fund. The attainment of 120% or more of the Target will result in payment of the entire Bonus Fund. Bonus terms for Renewal Years shall be determined by the Board. The Bonus Fund shall be an amount equal to Fifty Percent (50%) of Executive’s then annual base salary. Under no circumstances shall Executive’s annual bonus exceed an amount equal to Fifty Percent (50%) of Executive’s then annual base salary. The Company shall reimburse Executive for all ordinary and necessary expenses in a reasonable amount that Executive incurs in performing his duties under this Agreement, including, but not limited to, travel, entertainment, professional dues and subscriptions and all dues, fees and expenses associated with membership in various professional, business and civic associations and societies in which Executive’s participation is determined to be beneficial for the Company. Such expenses will be accounted for and reimbursed through Company’s normal expense-reporting and approval process.
Compensation and Bonus. JumpTV will pay you during the Term of this Agreement a gross annual salary (“Salary”) of: · CDN$375,000 in the first year of the Term (Effective Date to November 12, 2008); · CDN$400,000 in the second year of the Term (November 12, 2008-November 12, 2009); · CDN$425,000 in the third year of Term (November 12, 2009- November 12, 2010) ; · the parties will negotiate in good faith with respect to salary in the fourth year of the Term but, in any event, the minimum will be CDN$500,000 in the fourth year of the Term (November 12, 2010-November 12, 2011) The Salary is payable in equal bi-weekly installments in arrears by direct deposit. You will be entitled to receive a one-time cash bonus of CDN$200,000, which will be payable immediately, if for a continuous period of six (6) months the closing price of JumpTV’s common shares on the Toronto Stock Exchange (“TXT”) is over $6 per share. The commencement of the six (6) month period must be within the first three years be within the first three years of the Commencement Date but the end of the six (6) month period may occur while you are employed by JumpTV or your employment has ended pursuant to paragraph 1, in either case, the cash bonus of CDN$200,000 will be payable.
Compensation and Bonus. 6.1 During the Employee’s Employment with the Company and subject to the Employee complying with his obligations and duties under this Agreement, the Company shall pay to the Employee a salary at the rate of $630,121.00, per annum which shall accrue from day-to-day and be payable by bank credit transfer in equal monthly instalments in accordance with the Company’s standard payroll practices from time to time. The salary shall be deemed to include any fees receivable by the Employee as a Director of the Company, any Associated Company or of any other company or unincorporated body in which the Employee holds office as nominee or representative of the Company or any Associated Company.
Compensation and Bonus. 4.1 In consideration of the provision of the Services, the Company shall pay the Consultant 15,000 GBP per month during the term of this agreement (collectively, the “Fee”). The consulting fee will increase to 23,000 GBP on the date (a) of publication of the data from the phase 2b clinical trial for Dupuytren’s disease (RIDD) and (b) the Company has successfully raised over $15M in capital. The fee will increase annually thereafter to reflect progression in other clinical trials and laboratory research as approved by the 180 LS Board of Directors.
Compensation and Bonus. The Compensation and Bonus section of the Consulting Agreement is amended by adding the following at the end thereof: MMMS agrees to issue 200,000 shares of common stock, par value $.0001 per share (the "Common Stock"), to the Consultant. The Consultant represents and warrants to MMMS as follows: It is acquiring the Common Stock for its own account and for investment purposes only and without the intent toward the further sale and/or distribution thereof. In addition, the undersigned is familiar with the business and financial condition of MMMS, has been afforded the opportunity to ask management of MMMS all relevant questions concerning the Common Stock and MMMS, and understands that there are numerous and substantial risks associated with the investment in such Common Stock, including the risk that it may have to bear the complete economic loss of such investment. The undersigned has had an opportunity to review all of MMMS' filings with the Securities and Exchange Commission. It further agrees, acknowledges, represents and warrants that the Common Stock is deemed "restricted" securities and that in order for it to sell, transfer and/or assign any such Common Stock, it would have to effectuate any such transaction pursuant to an effective registration statement under the Securities Act of 1933, as amended (the "Act"), or in accordance with an exemption from the registration requirements under such Act. It further acknowledges that the exemption currently afforded under Rule 144, promulgated under the Act, requires that it hold the Common Stock for at least six months and that certain other conditions must be satisfied under such Rule at the time of any sale. It further agrees and acknowledges that MMMS has no current intention of filing a registration statement covering said Common Stock. Accordingly, the liquidity of said investment evidenced by the Common Stock is restricted, and it may not be able to sell or otherwise dispose, assign, hypothecate, pledge or otherwise transfer any of such Common Stock for a period of time. In addition, it hereby represents and warrants that neither MMMS nor any of its officers, directors, affiliates or shareholders have made any representations or warranties to it with respect to the future performance of MMMS or the Common Stock. It further represents and warrants that it is an accredited investor, as such term is defined under the Act and that it has the financial sophistication, experience and business acumen necess...
Compensation and Bonus. Commencing on the Effective Date, your annual base salary will be $575,000, payable in accordance with Town Sports International, LLC’s (“TSI”) standard payroll practices and subject to all applicable tax withholdings. Future salary increases will be based on demonstrated job performance. Under the Company’s current performance bonus plan, you will have a bonus target of seventy-five percent (75%) of your annual base salary.
Compensation and Bonus. Employee will be entitled to receive his full compensation earned in 2008 prior to the Termination Date paid in accordance with the Company’s normal payroll practices. Such payment is based on a Base Salary of $315,000 for 2008. Employee will also be entitled to receive the benefit earned by him under the Short-Term Incentive Compensation program for 2007. The parties agree that such amount under the Short-Term Incentive Compensation program shall be $310,781, payable at the same time as the amounts noted in Section 4(a)(1) above. If the earnings part of the 2007 bonus calculation under the percent (50%) for the other executive officers (“Excess Amount”), Employee will receive a lump sum payment within thirty days after such determination, equal to four (4) times the amount of the additional bonus amount attributable to the Excess Amount.
