Common use of Compensation Benefits and Expenses Clause in Contracts

Compensation Benefits and Expenses. (a) During the term of the Employee's employment pursuant to this Employment Agreement, the Employee shall be paid a base annual salary of $260,000 (the "Base Pay"). Payment will be made on the regularly scheduled pay dates of the Employer, subject to all appropriate withholdings or other deductions required by law or by the Employer's established policies applicable to all the Employees of the Employer. The Employer may increase the Employee's Base Pay at the Employer's sole discretion, but shall not reduce the Base Pay below the rate established by this Employment Agreement without the Employee's written consent. (b) In addition to any other compensation payable to the Employee pursuant to this Employment Agreement, during the term of the Employee's employment pursuant to this Employment Agreement the Employee may be paid an annual bonus as determined by and within the sole discretion of board of directors of the Company. (c) The Employee's services hereunder shall be performed at the principal offices of the Employer in the Atlanta, Georgia metropolitan area, subject to travel that is consistent with prior practice of the Employee. (d) In addition to compensation payable to the Employee as described above, the Employee shall be entitled to participate in all the employee benefit plans or programs of the Company as are available to management employees of the Employer generally and such other benefit plans or programs as may be specified by the Board of Directors, including any stock options that may be granted by the board of directors of the Company ("Employee Benefits"). Employee Benefits provided the Employee will be no less favorable in the aggregate than those benefits of the Employer in which the Employee was enrolled immediately prior to the Effective Date. With respect to the Employee, the Employer and the Company hereby waive any applicable waiting period for the Employee Benefits. (e) On a timely basis, the Employer shall reimburse the Employee for such reasonable out-of-pocket expenses as the Employee may incur for and on behalf of the furtherance of the Employer's business, provided that the Employee submits to the Employer satisfactory documentation or other support for such expenses in accordance with the Employer's expense reimbursement policy.

Appears in 2 contracts

Samples: Employment Agreement (Dycom Industries Inc), Merger Agreement (Dycom Industries Inc)

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Compensation Benefits and Expenses. (a) During the term of the Employee's employment pursuant to this Employment Agreement, the Employee shall be paid a base annual salary of $260,000 (the "Base Pay"). Payment will be made on the regularly scheduled pay dates of the Employer, subject to all appropriate withholdings or other deductions required by law or by the Employer's established policies applicable to all the Employees of the Employer. The Employer may increase the Employee's Base Pay at the Employer's sole discretion, but shall not reduce the Base Pay below the rate established by this Employment Agreement without the Employee's written consent. (b) In addition to any other compensation payable to the Employee pursuant to this Employment Agreement, during the term of the Employee's employment pursuant to this Employment Agreement the Employee may be paid an annual bonus as determined by and within the sole discretion of board of directors of the Company. (c) The Employee's services hereunder shall be performed at the principal offices of the Employer in the Atlanta, Georgia metropolitan southwestern Missouri area, subject to travel that is consistent with prior practice of the Employee. (d) In addition to compensation payable to the Employee as described above, the Employee shall be entitled to participate in all the employee benefit plans or programs of the Company as are available to management employees of the Employer generally and such other benefit plans or programs as may be specified by the Board of Directors, including any stock options that may be granted by the board of directors of the Company ("Employee Benefits"). Employee Benefits provided the Employee will be no less favorable in the aggregate than those benefits of the Employer in which the Employee was enrolled immediately prior to the Effective Date. With respect to the Employee, the Employer and the Company hereby waive any applicable waiting period for the Employee Benefits. (e) On a timely basis, the Employer shall reimburse the Employee for such reasonable out-of-pocket expenses as the Employee may incur for and on behalf of the furtherance of the Employer's business, provided that the Employee submits to the Employer satisfactory documentation or other support for such expenses in accordance with the Employer's expense reimbursement policy.

Appears in 2 contracts

Samples: Merger Agreement (Dycom Industries Inc), Employment Agreement (Dycom Industries Inc)

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Compensation Benefits and Expenses. (a) During As compensation for the term of the Employee's employment services to be rendered by Employee pursuant to this Employment Agreement, the Company hereby agrees to pay Employee shall be paid a base annual salary of (“Base Annual Salary”) at a rate equal to Four Hundred Ninety-Five Thousand Dollars ($260,000 (495,000.00) during the "Term. Employee’s Base Pay"). Payment will Annual Salary shall be made on the regularly scheduled pay dates of the Employer, subject to all appropriate withholdings or other deductions required by law or reviewed by the Employer's established policies applicable to all Board (or the Employees of Compensation Committee thereof) at least annually and may be increased by an amount approved by the Employer. The Employer may increase Board (or the Employee's Base Pay at the Employer's Compensation Committee thereof) in its sole discretion, but shall and Employee agrees that the Company has not made any promises or guaranty of any increase in Base Annual Salary during the Term. The Company may not reduce Employee’s Base Annual Salary during the Base Pay below the rate established by this Employment Agreement Term without the Employee's ’s prior written consent. The Base Annual Salary shall be paid in substantially equal bimonthly installments, in accordance with the normal payroll practices of the Company. While employed by the Company, the Employee will not receive any compensation for Employee’s service as a member of the Company’s Board or any of its committees. (b) In addition Employee shall be entitled to any other compensation payable all ordinary and customary benefits afforded generally to executive employees of the Company (except to the Employee pursuant extent employee contribution may be required under the Company’s benefit plans as they may now or hereafter exist), which shall in no event be less than the benefits generally afforded to this Employment Agreement, during the term other executive employees of the Employee's employment pursuant Company as of the date hereof or from time to this Employment Agreement time, but in any event shall include any qualified or non-qualified pension, profit sharing and savings plans, any death benefit and disability benefit plans, life insurance coverages, any medical, dental, health and welfare plans or insurance coverages, and any stock purchase programs that are adopted or maintained by the Employee may be paid an annual bonus as determined by and within the sole discretion of board of directors Company generally for executives employees of the Company. (c) The Employee's services hereunder For each calendar year beginning with 2014 and ending before this Agreement expires or terminates, Employee shall be performed eligible to receive, at the principal offices time and in the form provided for in the Company’s annual incentive compensation plan, an annual incentive bonus opportunity targeted at eighty-five percent (85%) of Employee’s Base Annual Salary based upon annual performance goals and the achievement of those goals, as established and determined at least annually (and consistently with the Company’s most recent proxy statement disclosure of the Employer in standards for providing cash-based incentive compensation) by the Atlanta, Georgia metropolitan area, subject to travel that is consistent with prior practice Board or the Compensation Committee of the EmployeeBoard. Such performance goals may include Company-wide performance objectives, divisional or departmental performance objectives, and/or individual performance objectives, as the Board or the Compensation Committee may determine in its discretion. (d) In addition to compensation payable to The Company shall pay or reimburse Employee for all reasonable and authorized business expenses incurred by Employee while employed under this Agreement; such payment or reimbursement shall not be unreasonably withheld so long as said business expenses have been incurred for and promote the Employee as described above, the Employee shall be entitled to participate in all the employee benefit plans or programs business of the Company as and are available normally and customarily incurred by employees in comparable positions at other comparable businesses in the same or similar market. As a condition to management employees reimbursement under this Section 4(d), Employee shall furnish to the Company adequate records and other documentary evidence required by federal and state statutes and regulations for the substantiation of each expenditure. Employee must submit proper documentation for each such expense within 30 days after the date that Employee incurs such expense, and the Company will reimburse Employee for all eligible expenses within 30 days thereafter, and in no event later than the last day of the Employer generally and such other benefit plans or programs as may be specified by calendar year following the Board of Directors, including any stock options that may be granted by the board of directors of the Company ("Employee Benefits"). Employee Benefits provided the Employee will be no less favorable in the aggregate than those benefits of the Employer calendar year in which the expense is incurred. Employee was enrolled immediately prior acknowledges and agrees that failure to furnish the Effective Date. With respect to the Employee, the Employer and required documentation may result in the Company hereby waive any applicable waiting period denying all or part of the expense for the Employee Benefitswhich reimbursement is sought. (e) On a timely basis, Employee shall be covered by the Employer shall reimburse Company’s directors and officers insurance policies on the Employee for such reasonable out-of-pocket expenses same basis as the Employee Company’s other senior executive officers, as such insurance policies and coverage limits and conditions may incur for and on behalf of the furtherance of the Employer's business, provided that the Employee submits exist from time to the Employer satisfactory documentation or other support for such expenses in accordance with the Employer's expense reimbursement policytime.

Appears in 1 contract

Samples: Employment Agreement (Autobytel Inc)

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