Compensation and Bonuses. Made any payments of any bonuses or compensation other than regular salary payments, or increase in the salaries, or payment on any of its debts in the Ordinary Course of Business, to any of its shareholders, directors, officers, employees, independent contractors or consultants or entry into by it of any employment, severance, or similar contract with any director, officer, or employee, independent contractor or consultant; Adopted, or increased in the payments to or benefits under, any profit sharing, bonus, deferred compensation, savings, insurance, pension, retirement, or other employee benefit plan for or with any of its employees;
Compensation and Bonuses. Made any payments of any bonuses or compensation other than regular salary payments, or increase in the salaries, or payment on any of its debts in the Ordinary Course of Business, to any of its shareholders, directors, officers, employees, independent contractors or consultants or entered into any employment, severance, or similar contract with any director, officer, or employee, independent contractor or consultant; adopted, or increased the payments to or benefits under, any profit sharing, bonus, deferred compensation, savings, insurance, pension, retirement, or other employee benefit plan for or with any of its employees;
Compensation and Bonuses. The Company will pay the Employee for his/her services at a base rate equal to $130,000.00 gross per year, paid on the 5th of each month with the proper payroll taxes deducted. The Company and Employee agree to review this salary on an annual basis or if a significant event, such as a merger, acquisition or other significant business event takes place. Said reviews will entail a comparison of similar positions in the marketplace to ensure that the salary is comparable to other companies. Employee will be compensated for wages earned, Schedule A, since STLK is acquiring Employee’s current Employer. These wages will be paid when possible and up to 50% may be paid with a convertible note with a 50% discount. Employee must elect this convertible note option by December 31st, 2012.
Compensation and Bonuses. Upon execution and delivery of this Agreement by Employee, Employer shall initially pay to Employee a signing bonus in the gross amount of Fifty Thousand Dollars ($50,000.00). Employer shall pay Employee an annual base salary of Two Hundred Thousand Dollars ($200,000.00), payable in equal installments, not less than monthly during the term of her employment, together with bonuses to be determined as follows:
(a) For the fiscal year ending June 30, 2001 a bonus of Thirty Thousand Dollars ($30,000.00) at the first pay period in July, 2001;
(b) For the fiscal year ending June 30, 2002, a bonus equal to the greater of One Hundred Thousand Dollars ($100,000.00); or seven and one-half percent (7-1/2%) of the amount, if any, by which the net profit before taxes (exclusive of all extraordinary gains and losses) according to Employer's audited financial statements ("NPBT") (calculated after deducting bonuses of all employees) for said fiscal year exceeds the NPBT for the fiscal year ending June 30, 2001; provided, however, Employer shall advance to Employee a portion of said bonus in the sum of Twenty-Five Thousand Dollars ($25,000.00) per quarter for the first three quarters of the fiscal year and the balance immediately following receipt of the annual audited financial statements; and
(c) For the fiscal year ending June 30, 2003, a bonus equal to the greater of One Hundred Thousand Dollars ($100,000.00); or one and one-half percent (1-1/2%) of the NPBT (calculated after deducting bonuses of all employees) for said fiscal year ending June 30, 2003; provided however Employer shall advance to Employee a portion of said bonus in the sum of Twenty-Five Thousand Dollars ($25,000.00) per quarter for each of the first three quarters of said fiscal year, and the balance paid immediately following receipt of the audited financial statements.
(d) For the portion of the Term of this Agreement extending from July 1, 2003 through February 19, 2004, a bonus equal to one and one-half percent (1-1/2%) of the NPBT (calculated after deducting bonuses for all employees) for said period ending with the end of the term of this Agreement; provided Employer shall advance to Employee as a loan against the potential bonus to be earned, for said period, the sum of Twenty-Five Thousand Dollars ($25,000.00) per quarter. The remainder of such bonus, if any, shall be paid immediately following the expiration of said term. Provided further, if Employee has received advance payments which exceed...
Compensation and Bonuses. Made any payments of any bonuses or compensation other than regular salary payments or payments in consideration of previously uncompensated or under-compensated services not in excess of $50,000 in the aggregate, or increase in the salaries or payment on any of its debts in the Ordinary Course of Business, to any of its shareholders, directors, officers, employees, independent contractors, or consultants or entry into by it of any employment, severance, or similar contract with any director, officer, or employee, independent contractor, or consultant; or adopted, or increased in the payments to or benefits under, any Approved Plan or any profit sharing, bonus, savings, insurance, pension, retirement, or other employee benefit plan for or with any of its employees;
Compensation and Bonuses. Neither SCC nor any Subsidiary shall increase ------------------------ the formula in the compensation payable or to become payable to any officers, or make any bonus payment or arrangement to or with any officer, except for the formula as existed during SCC and each Subsidiary's last fiscal or calendar year.
Compensation and Bonuses a. In consideration of the services rendered by Executive to or as directed by Company, Company agrees to pay Executive during the Term a base salary equal to $150,000.00 per year (the “Base Salary”), subject to increase from time to time by the action of the Board of Directors of Company. Said base salary shall be paid to Executive in 26 equal bi-weekly installments or in accordance with any other reasonable policy established from time to time by Company in respect to payment of salary to its executive employees generally, subject only to such payroll and withholding deductions as may be required by law and other deductions applied generally to executives of Company for insurance and other Executive benefit plans. The Base Salary payable pursuant to this Subsection 3a shall be exclusive of (i) any bonus payable to Executive pursuant to Section 3b or Section 3c hereof; (ii) any discretionary bonus or other compensation approved by the Board of Directors of Company; and (iii) any benefits to which Executive shall be entitled pursuant to Section 4 of this Agreement.
b. In addition to the Base Salary, Executive is eligible for participation in those bonus programs available to executives of Company generally upon terms no less favorable than those made available to such other executive officers of Company (each, a “Bonus Program”). If and as adopted by the Board of Directors of Company, such Bonus Programs shall provide Executive with the opportunity to earn additional compensation hereunder (each, a “Bonus Payment”) which may be earned and paid pursuant to the terms and conditions of each such Bonus Program.
c. In addition, Company acknowledges and recognizes that Executive has provided and will continue to provide value in respect to the business and development of the assets of Company and its Subsidiaries, including Trace. Company is pursuing certain transactions and is attempting to maximize the value of certain assets and certain rights in the Trace Assets, as defined below. Consequently, Company agrees to pay Executive a special bonus pursuant to the terms of this Section 3c. For purposes of such bonus, the following provisions and definitions shall apply:
Compensation and Bonuses. Notwithstanding any other provision of this Agreement, Sellers acknowledge and agree that any stay or deal or similar bonuses that are not regular bonuses for 2018 shall be paid in accordance with the terms of the agreements (as they 21471555v.18 exist on the date hereof). All other compensation for employees of Sellers and regular bonuses relating to any period prior to the Effective Date shall be paid as of or prior to the Closing Date or accrued by Sellers and included on the Closing Balance Sheet (as finally determined in accordance with Section 7.10), and under no circumstances shall Buyer be responsible for paying any compensation and/or bonuses for any period prior to the Effective Date other than as included in the True Up Amount as finally determined in accordance with Section 7.10 of this Agreement (such bonuses the "Accrued 2018 Payroll and Bonuses").
Compensation and Bonuses. In recognition of past and present services, Rivers shall be entitled to the following benefits:
Compensation and Bonuses a. As compensation for the services to be rendered by Consultant under this Agreement, the Company will provide the following compensation and benefits to Consultant. The Company will pay Consultant the amount of Ten Thousand Dollars ($10,000) per month with payment received not later than the 10th day of each month.
b. As compensation for successful acquisition of license(s) for Veriede Holding LLC or any affiliated companies into any state other than Oregon or New Mexico, Consultant will receive a bonus of Thirty Thousand Dollars ($30,000) with payment received not later than the 30th day after acquisition of the license.
