Compensation as Chairman Sample Clauses

Compensation as Chairman. During the Term, the Chairman shall receive compensation at the rate of Five Hundred Thousand Dollars ($500,000.00) per year, payable semi-monthly on the first and fifteenth day of each month, which shall be inclusive of all fees payable to Chairman for his service as Chairman of the Board during the Term. In addition, the Chairman shall be eligible to receive additional equity compensation under the RAIT Financial Trust 2017 Incentive Award Plan (the “2017 Plan”) in such form and amount as may be determined by the Compensation Committee of the Board. The Chairman shall also be entitled to receive any unpaid compensation accrued under the Original Agreement through the Commencement Date of this Agreement. In the event that the Term is extended beyond the 2019 Annual Meeting by mutual agreement of the Chairman and the Board, the compensation of the Chairman during such extended Term shall continue at the same rate and on the same terms as during the initial Term hereunder or at such other rate and on such other terms as may be mutually agreed by the Chairman and the Board.
Sample 1
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Compensation as Chairman. During the Term, the Chairman shall receive compensation at the rate of Sixty-Two Thousand, Five Hundred Dollars ($62,500) per month, payable bi-weekly on the first and fifteenth day of each month, which shall be inclusive of all fees payable to Chairman for his service as Chairman of the Board. In addition, the Chairman shall be eligible to receive additional equity compensation under the RAIT Financial Trust 2017 Incentive Award Plan (the “2017 Plan”) in such form and amount as may be determined by the Compensation Committee of the Board. In the event that the Term is extended beyond the 2018 Annual Meeting by mutual agreement of the Chairman and the Board, the compensation of the Chairman during such extended Term shall continue at the same rate and on the same terms as during the initial Term hereunder or at such other rate and on such other terms as may be mutually agreed by the Chairman and the Board.
Sample 1
Compensation as Chairman. Following Executive’s termination as President and Chief Executive Officer, Executive shall be entitled to receive compensation in a customary amount to be agreed by the parties during such period as he serves as Chairman of the Board of Directors, provided that such payments shall not be required during such period as Executive is receiving Continuation Payments.
Sample 1
Compensation as Chairman. As compensation for Xxxxx Xxxxxxxxx’x services as Chairman of the Company’s Board of Directors shall be as follows: a) $12,000 per month Board of Directors fee. First fee due and payable beginning for December 2008. b) 500,000 cashless Company warrants at a strike price of $0.84. Said warrants shall vest over three (3) years in equal proportion, i.e. one third each of the three (3) years. Further, all warrants shall vest immediately with a change of control of the Company as defined in the warrant agreement.
Sample 1
Compensation as Chairman. If the Company effects Equity Offerings with cumulative gross proceeds in excess of $2,500,000 GBP within 12 months following the date hereof, then, beginning September 1, 2011, Mitha shall be entitled to receive compensation in a customary amount to be agreed by the parties during such period as Mitha serves as Chairman of the Board of Directors.
Sample 1
Compensation as Chairman. For his service as Chairman of the Board, Executive shall be compensated US$100,000 per annum, subject to any applicable taxes and withholdings.
Sample 1

Related to Compensation as Chairman

  • Director Compensation Petitioner shall not compensate members of the Charter School’s Governing Board in excess of reasonable expenses incurred in connection with actual attendance at board meetings or with performance of duties associated therewith.

  • Compensation of the Executive 3 4. Termination.........................................................................

  • Compensation of Executive (a) The Corporation shall pay the Executive as compensation for his services hereunder, in equal semi-monthly or bi-weekly installments during the Term, the sum of $350,000 per annum (as in effect from time to time, the “Base Salary”), less such deductions as shall be required to be withheld by applicable law and regulations. The Corporation shall review the Base Salary on an annual basis and has the right but not the obligation to increase it, but has no right to decrease the Base Salary. (b) In addition to the Base Salary set forth in Section 4(a) above, the Executive shall be entitled to receive an annual cash bonus (“Annual Bonus”) in an amount up to $100,000 if the Corporation meets or exceeds criteria adopted by the Compensation Committee of the Board (the “Compensation Committee”) for earning Bonuses, which criteria shall be adopted by the Compensation Committee annually after consultation with the Executive and which criteria must be reasonably likely to be attainable. Annual Bonuses shall be paid by the Corporation to the Executive promptly after the year end, it being understood that the Compensation Committee’s determinations concerning attainment of any financial targets associated with any bonus determination shall not be determined until following the completion of the Corporation’s annual audit, if any, but in no event later than April 15th of the year following the year for which it is being paid (and if the Executive was employed as of last day of the calendar year to which such Annual Bonus relates, then the Executive shall be entitled to the Annual Bonus for such year, even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year). The Compensation Committee may provide for lesser or greater percentage Annual Bonus payments for Executive upon achievement of partial or additional criteria established or determined by the Compensation Committee from time to time. For the avoidance of doubt, if Executive is employed upon expiration of the term of this Agreement, he shall be entitled to the Annual Bonus for such last year on a pro-rata basis through the last date of employment, even if he is not employed by the Corporation on the date the Annual Bonus is paid for such last year. In his sole discretion, the Executive may elect to receive such annual bonus in common stock of the Corporation at the basis determined by the Compensation Committee in good faith. (c) The Corporation shall pay or reimburse the Executive for all reasonable out-of-pocket expenses actually incurred or paid by the Executive in the course of his employment, consistent with the Corporation’s policy for reimbursement of expenses from time to time. (d) The Executive shall be entitled to participate in such pension, profit sharing, group insurance, hospitalization, and group health and benefit plans and all other benefits and plans, including perquisites, if any, as the Corporation provides to its senior executives, including group family health insurance coverage, which shall be paid by the Corporation (the “Benefit Plans”). If at any time during the Term, the Corporation does not provide its senior executives with health insurance (including hospitalization) under a Benefit Plan, Executive shall be entitled to secure such health insurance for himself and his immediate family (i.e., spouse and natural born children) and the Corporation shall reimburse Executive for the cost of such insurance promptly after payment by the Executive for such insurance. For the avoidance of doubt, Executive shall be entitled to secure health insurance from high quality companies such as Blue Cross/Blue Shield, United, or Emblem, and the ability to select a no or low deductible plan. If Executive secures such health insurance, such health insurance shall be deemed to be a Benefit Plan hereunder. (e) The Corporation shall execute and deliver in favor of the Executive an indemnification agreement on the same terms and conditions entered into with the other officers and directors of the Corporation. Such agreement shall provide for the indemnification of the Executive for the term of his employment and for a period of at least six (6) years thereafter. The Corporation shall maintain directors’ and officers’ insurance during the Term and for a period of at least six (6) years thereafter. (f) The Corporation shall also maintain (or hire, if applicable) a New York City based executive assistant to assist the Executive with his duties.

  • Employment Period Compensation In consideration of the other provisions of this Agreement, and the Executive’s agreement to execute a Release Agreement, substantially in the form attached hereto as Exhibit B, in the event of his termination under relevant circumstances pursuant to which he would be paid severance benefits, ESC shall provide the Executive with the following payments and benefits, both those set forth in this section and elsewhere in this Agreement:

  • Compensation of Directors; Expenses The Board shall have the authority to fix the compensation of Directors. The Directors may be paid their expenses, if any, of attendance at meetings of the Board, which may be a fixed sum for attendance at each meeting of the Board or a stated salary as Director. No such payment shall preclude any Director from serving the Company in any other capacity and receiving compensation therefor. Members of special or standing committees may be allowed like compensation for attending committee meetings.

  • COMPENSATION OF ULTIMUS The Trust, on behalf of each Fund, shall pay for the services to be provided by Ultimus under this Agreement in accordance with, and in the manner set forth in, Schedule B attached hereto, as such Schedule may be amended from time to time. If this Agreement becomes effective subsequent to the first day of a month or terminates before the last day of a month, Ultimus’ compensation for that part of the month in which the Agreement is in effect shall be prorated in a manner consistent with the calculation of the fees as set forth above. Payment of Ultimus’ compensation for the preceding month shall be made promptly.

  • Executive Compensation Until such time as the Investor ceases to own any debt or equity securities of the Company acquired pursuant to this Agreement or the Warrant, the Company shall take all necessary action to ensure that its Benefit Plans with respect to its Senior Executive Officers comply in all respects with Section 111(b) of the EESA as implemented by any guidance or regulation thereunder that has been issued and is in effect as of the Closing Date, and shall not adopt any new Benefit Plan with respect to its Senior Executive Officers that does not comply therewith. “Senior Executive Officers” means the Company's "senior executive officers" as defined in subsection 111(b)(3) of the EESA and regulations issued thereunder, including the rules set forth in 31 C.F.R. Part 30.

  • Full Compensation Subrecipient agrees to accept the specified compensation as set forth in this Contract as full remuneration for performing all services and furnishing all staffing and materials required, for any reasonably unforeseen difficulties which may arise or be encountered in the execution of the services until acceptance, for risks connected with the services, and for performance by the Subrecipient of all its duties and obligations hereunder.

  • Compensation of Directors Directors on the Board shall not be entitled to receive a fee for the director’s services as a director on the Board.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

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