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.
(b) The Employee shall also be eligible for an annual bonus (the “Annual Bonus”) under the terms of the Bonus Program. The amount of the Employee’s Annual Bonus will be equal to 75% of the Employee’s Base Salary in effect at the end of the fiscal year for which the Annual Bonus is determined if actual performance for such fiscal year equals 100% of each corporate and individual goal established for such year under the Bonus Program. The Bonus Program may be modified or supplemented by the Company from time to time, but in no event shall any such modification or supplement be less beneficial financially to the Employee than the Program as described on Exhibit A attached hereto.
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.
b. In addition to the Employee's Compensation, the Corporation shall pay to the Employee a bonus (the "Incentive Bonus") for each calendar year during the term of his employment, of between fifty-five percent (55%) and one hundred ten percent (110%) of Employee's Compensation paid for such calendar year. The payment of any bonus will be dependent upon whether the actual financial performance of the Corporation meets the budget projections adopted by the Board of Directors for such calendar year. If the Corporation fails to meet its minimum budget expectations, Employee will not receive any Incentive Bonus for that calendar year. Except in the case of death or disability, Employee must be employed by the Corporation at the end of the calendar year (or May 31, 2005, in the case of the last year of this Agreement) in order to receive an Incentive Bonus for that year. The Incentive Bonus for calendar year 2001 shall be based on the Compensation paid to Employee in such year. The criteria for determining the amount of the Incentive Bonus shall be determined by mutual agreement between the Employee and the Board of Directors within 60 days of the effective date of this Agreement. The bonus shall be paid within 60 days following the end of the calendar year.
Compensation and Bonus. From the Effective Date through December 31, 2014, Sztykiel will receive his base salary as CEO of the Company of $405,000 per year. Sztykiel will also receive any cash bonus to which he is entitled for services performed in 2014 under the Executive Leadership Team Incentive Compensation Framework, with a guaranteed minimum of $150,000.00. This bonus payment will be made in the first quarter of 2015 when these bonuses are paid to other eligible employees of Spartan Motors.
Compensation and Bonus. Executive’s base salary is at the current rate of $125,000 per annum. Executive’s base salary will be determined by the Board, but shall not be less than $125,000 per annum. Executive’s base salary shall be paid in twenty-six (26) equal bi-weekly payments. In addition to base salary, Executive will be eligible to receive an annual bonus, determined annually by the Board of Directors of Company.
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 $547,668 (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.
b. In addition to the Employee’s Compensation, the Corporation shall pay to the Employee a bonus (the “Incentive Bonus”) for each calendar year during the term of his employment in accordance with the Corporation’s annual incentive compensation plan established for executive officers, as amended.
Compensation and Bonus. From January 1, 2015 through February 19, 2015, Sztykiel will earn the same base compensation he earned as CEO of the Company in 2014. In addition, he will be entitled to payment of a pro-rated bonus for 2015 under the Executive Leadership Team Incentive Compensation Framework, with a guaranteed minimum of $50,000.00. This bonus payment will be made in the first quarter of 2016 when these bonuses are paid to other eligible employees of Spartan Motors.
Compensation and Bonus. (a) The Company agrees to pay the Employee throughout the Employment Term an initial base salary at the gross rate of $250,000 (U.S.) per annum (as adjusted pursuant to the provision of this section 4(a)) (the “Base Salary”) payable in equal installments in accordance with Company payroll practices from time to time in effect and subject to applicable withholdings and deductions. Employee’s Base Salary will be reviewed and may be adjusted annually by the Chief Executive Officer of the Company (the “CEO”) or by the Board of Directors of the Company (or the compensation committee thereof) (the “Board”), after taking into consideration the recommendations of the CEO, provided that Employee’s Base Salary may not be decreased below Employee’s initial Base Salary.
(b) Subject to section 9 (Termination of Employment), the Employee shall also be eligible for consideration for an annual bonus (“Annual Bonus”) under the terms of the Company’s “Annual Bonus Program” in effect from time-to-time (the “Program”). The amount of the applicable bonus, if any, shall be 50% of Employee’s Base Salary. This provision does not guarantee a certain level of bonus compensation for any given year and the award and/or amount of bonus shall be governed by the then-current Program, except as otherwise provided herein, with any disputes to be resolved by the Company in its discretion.
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. A. Salary ------ For services to be rendered by Xxxxxxxx pursuant to this Agreement, and provided that Xxxxxxxx has kept and performed all of his obligations hereunder, ComEd shall pay to Xxxxxxxx an annual salary ("Salary") for calendar years 1997 and 1998 of $475,000, to be paid in accordance with ComEd's normal payroll practices as such practices may be modified from time to time. Xxxxxxxx shall receive the above-named Salary for all hours worked by him in a week regardless of the number of hours he may work. Effective beginning with calendar year 1999, ComEd may increase Xxxxxxxx'x Salary, provided that it shall not be reduced after any such increase, and the term Salary as used in this Agreement shall refer to the Salary as so increased.