Compensation and Employment. Executive agrees to enter into the employment of Employer, and Employer agrees to employ Executive, on the terms and conditions set forth below.

Compensation and Employment. The COUNTY shall fully indemnify and hold harmless Non-County PARTIES and their respective officers, employees and agents, from any claims, losses, fines, expenses (including attorneys’ fees and court costs and/or arbitration costs), costs, damages or liabilities arising from or related to (1) any workers’ compensation claim or demand or other workers’ compensation proceeding arising from or related to, or claimed to arise from or relate

Compensation and Employment. Executive agrees to continue employment with Employer, and Employer agrees to continue to employ Executive, on the terms and conditions set forth below.

Compensation and Employment. Employee agrees to enter into the employment of Employer, and Employer agrees to employ Employee, on the terms and conditions set forth below. (a) Employer shall pay to Employee, and Employee agrees to accept as full consideration for his employment, not less than $125,000 per year during the term of this Agreement, payable in equal monthly installments, subject to all appropriate withholdings. All compensation payable to Employee hereunder shall be payable by Employer or by any entity designated by Employer. Employee's base salary shall be increased on or before March 31 of each year in an amount proportionate to any increase from base year 1988 in the Consumer Price Index - All Items for All Urban Consumers, as determined by the United States Department of Labor, Bureau of Labor Statistics, plus any additional amount deemed appropriate by Employer's Board of Directors. (b) In addition to the compensation above set forth, Employee shall be entitled to reimbursement of his actual out-of-pocket expenses incurred in the conduct of Employer's business, which shall be limited to ordinary and necessary items and which shall be supported by voucher, receipts or similar documentation to the extent practicable. (c) Employee shall be entitled to paid vacations per year as established by Employer from time to time under a policy based on seniority and such other fringe benefits as the Board of Directors of Employer may, in its sole discretion, determine, including the following: (1) Group Life, group hospitalization and group accident and major medical benefits for Employee and all members of Employee's immediate family providing benefits comparable to those provided to other employees of Employer. In any case, Employee will be expected to make contributions toward the cost of such plans at the same rate and in the same manner as required by other employees of like status participating therein. (2) The use of a company-owned automobile, appropriate for Employee's position, not more than two years of age, together with all oil, gasoline, repairs, insurance and maintenance required for the use and operation of the same for business purposes. (3) Employer shall use its best efforts to procure long-term disability insurance covering Employee to age 65, which together with corporate payments and programs would provide Employee 60% of Employee's base salary to age 65. Disability of Employee shall be subject to such other definitions (including the definition of disability...

Compensation and Employment. Employee agrees to be employed by Employer, and Employer agrees to so employ Employee, on the terms and conditions set forth below. Employer shall pay, and Employee agrees to accept, an annual base salary (the "Base Salary") of $200,000 during the term hereof. Additionally, Employee shall be eligible to participate in the Management Incentive Program or other bonus programs established by Employer for executives. Employee's Base Salary may be increased consistent with recommendations from the President of Employer. The Base Salary may not be reduced to less than $200,000 without the consent of Employee. The Base Salary will be payable according to the normal payroll procedures of the Employer and subject to all appropriate withholdings. Employee shall be reimbursed his reasonable and documented business expenses, in accordance with Employer's policies for other executives. Employee shall be entitled to such fringe benefits (including life, medical and long-term disability insurance and participation in the Employer's 401(k) savings plan) that are consistent with other senior executive employees of Employer. In all instances and for all purposes, Employee's employment tenure will include his employment time with BHC as well as Employer. In addition, Employer agrees to provide Employee four weeks paid vacation and paid membership in The Houstonian on terms consistent with past practices. The Employer hereby employs the Employee to serve as a Senior Vice President of Employer or higher position, and to retain the same position and title held in BHC prior to employment with the Employer. Employee's duties will include managing the business and operations of Employer acquired in the Acquisition and performing such other corporate roles and responsibilities to be reasonably determined by Employer. Employee shall report to the President of Employer. Employee's title and duties will not be materially decreased in a manner inconsistent with his position and experience or his performance hereunder. Employee agrees to devote his full business time and his best efforts, skills and abilities to the performance of his duties hereunder. The Employee shall be provided with his existing office or comparable office, existing or similar office amenities and a secretary of his choice who will be initially compensated in accordance with BHC's historic practices. Employee may serve as a Director or Trustee of other organizations, provided such service does not prevent Employee ...

Compensation and Employment. Employee agrees to enter into the employment of Employer, and Employer agrees to employ Employee, on the terms and conditions set forth below. Employer shall pay to Employee, and Employee agrees to accept as full consideration for his employment: (a) $250,000 per annum during the term of this Agreement, payable by-weekly and in accordance with Employer’s standard payroll practices, subject to all appropriate withholdings (b) Employee shall be entitled to four (4) weeks paid vacation per year and such other fringe benefits as the Board of Directors of Employer may, in its sole discretion, determine. Employee may at his or her sole option carry 100% of all unused vacation into the next year or chose to be paid for the time at his or her normal rate of pay. If payment is chosen, it will occur within January of the year following the year in which it was earned. Employee agrees during the term of his employment to devote such of his business time as may reasonably be required and his reasonable best efforts, skills and abilities to the performance of his duties as stated in this Agreement and to the furtherance of the business of Employer and its affiliates. (c) Employee shall be entitled to additional compensation of $3,000.00 per month as (1) car and local travel expenses re-imbursement including insurance, maintenance and fuel expenses and (2) miscellaneous expenses. This shall be payable by-weekly and in accordance with Employer’s standard payroll practices, subject to all appropriate withholdings. (d) Employee shall be entitled to re-imbursement of up to $1,750.00 per month for health insurance expenses until such time as Employer makes a company sponsored health insurance plan available to Employee. (e) Employee shall be entitled to reimbursement for country club membership dues and fees, mobile and office telephone fees and office related expenses. (f) Employee’s job title initially shall be Chief Executive Officer (CEO). Employee agrees that this position is at all times subject to oversight by the Board of Directors of Employer. Employment includes all tasks and assignments reasonable to such position and performing such other services for Employer and its affiliates as may be reasonably directed from time to time by the Board of Directors. Employee’s job title may be changed to such other title as may be determined from time to time by the Board of Directors of Employer. (g) Employee shall also use his reasonable best efforts to preserve the business...

Compensation and Employment. The Company agrees that Employee shall continue to ---------------------------- receive salary, vacation, sick leave, insurance, and health benefits as follows:

Compensation and Employment. Employee agrees to enter into the employment of Employer, and Employer agrees to employ Employee, on the terms and conditions set forth below. Employer shall pay to Employee, and Employee agrees to accept as full consideration for his employment: (a) $10,000.00 per month during the initial term of this Agreement, which shall increase to; (b) $ 12,500 per month upon Employer raising a total of $4 million in new equity or; (c) $12,500.00 per month upon Employer obtaining either of 50,000 or more apartment units placed into the PropertySMARTSM program or $8 million in annual PropertySMARTSM gross revenues; (d) $15,000.00 per month upon Employer becoming cash flow positive with a Net Operating Income equal to five (5) percent of sales; payable by-weekly and in accordance with Employer's standard payroll practices, subject to all appropriate withholdings. (e) Employee, if a licensed agent, may participate in any commission and/or incentive programs that the Company implements relating to the sales of PropertySMARTSM. Employee will accrue commissions at a rate equal to 30% of the total gross commissions earned by Employer on sales originated by Employee and paid all such commissions the total of which exceed the annualized scheduled base salaries above. Employee shall be entitled to four (4) weeks paid vacation per year and such other fringe benefits as the Board of Directors of Employer may, in its sole discretion, determine. Employee may at his or her sole option carry 50% of all unused vacation into the next year or chose to be paid for the time at his or her normal rate of pay. If payment is chosen, it will occur within January of initials__________ the year following the year in which it was earned. Employee agrees during the term of his employment to devote such of his business time as may reasonably be required and his reasonable best efforts, skills and abilities to the performance of his duties as stated in this Agreement and to the furtherance of the business of Employer and its affiliates. Employee shall be entitled to additional compensation of $500.00 per month as car and local travel expenses re-imbursement. This shall be payable by-weekly and in accordance with Employer's standard payroll practices, subject to all appropriate withholdings. Employee shall be entitled to re-imbursement of up to $500 per month for health insurance expenses until such time as Employer makes a company sponsored health insurance plan available to Employee. Employee's jo...

Compensation and Employment. (a) Employee agrees to provide services to Employer, and Employer agrees to employ Employee, on the terms and conditions set forth herein. Employer shall pay to Employee, and Employee agrees to accept as full consideration for his continued employment, a gross monthly base compensation of $12,500 payable in accordance with Employer's customary payroll procedures and subject to appropriate tax withholding. Employee's base compensation shall be reviewed on an annual basis by Employer. Notwithstanding the foregoing, Employer shall pay to Employee, on or before March 31, 2000, a bonus in an amount necessary, after giving effect to any prior bonuses made for such purpose, to cover any taxes owing by Shareholder on phantom income received due to Employer's status as an S-corporation, which shall not be greater than $60,000. (b) Employee shall be entitled to paid vacation and such other fringe benefits as are consistent with the customary practices of Employer or as Employer may, in its sole discretion, determine at any time and from time to time. Employee agrees to devote his full business time and his best efforts, skills, and abilities exclusively to the performance of his duties herein, to the furtherance of Employer's business and to use reasonable efforts to implement the Business Plan. (c) Employee's title shall be President and his duties shall include performing such services for Employer as may be directed from time to time by the Board of Directors of Employer (the "Board") in connection with the Business which shall include a right to manage Employer in accordance with historical practice. Employee shall use his best efforts to preserve the Business of Employer and the good will of all employees, customers, suppliers, and other persons having business relations with Employer.

Compensation and Employment Sample Clauses

Filter & Search

Related Clauses

Parent Clauses

Sub-Clauses