Compensation Benefits and Reimbursement of Expenses Sample Clauses
Compensation Benefits and Reimbursement of Expenses. Company shall compensate Executive for the services rendered under this Agreement as follows:
Compensation Benefits and Reimbursement of Expenses. The Company shall compensate the Employee during the Term of this Agreement as follows:
Compensation Benefits and Reimbursement of Expenses. (a) As compensation for his services hereunder, the Subsidiary shall pay Executive an annual base salary of Two Hundred Sixty Thousand Dollars ($260,000.00). Such salary shall be paid in accordance with the normal payroll practices of the Subsidiary and shall be subject to such deductions and withholdings as are required by law or by the policies of the Subsidiary, from time to time in effect.
(b) Executive shall be entitled to receive an annual bonus ("Bonus") with respect to each fiscal year of the Company ending during the Term of this Agreement in an amount equal to three percent (3%) of the Company's Pretax Adjusted Annual Income (as defined immediately hereafter). "Pretax Adjusted Annual Income" shall mean, with respect to a given fiscal year, earnings before taxes as reported on the Company's audited consolidated statement of operations for such fiscal year, excluding extraordinary, nonoperational costs and profits.
Compensation Benefits and Reimbursement of Expenses. (a) As compensation for his services hereunder, the Company, or the Subsidiary, shall pay Executive an annual base salary of Two Hundred Fifteen Thousand Dollars ($215,000.00) . Such salary shall be paid in accordance with the normal payroll practices of the Company, or the Subsidiary, as the case may be, and shall be subject to such deductions and withholdings as are required by law or by the policies of the Company, or the Subsidiary, as the case may be, from time to time in effect.
(b) Executive shall be entitled to a bonus ("Bonus") at the sole discretion of the Board.
(c) Executive shall be entitled to participate or to continue participation in any present or future group life, health and hospitalization or disability insurance plans, pension or retirement plans or similar death benefits as are available to management executives of the Company and/or the Subsidiary on the same terms as such other similarly situated executives, in each case to the extent that Executive is eligible under the terms of such plans or programs.
(d) Executive shall be entitled to four (4) weeks of paid vacation per year, subject to the Company's or the Subsidiary’s, as the case may be, normal employee policies for unused vacation as adopted and amended from time to time.
(e) Executive shall be reimbursed in accordance with the policies of the Company as adopted and amended from time to time, for all reasonable and appropriate expenses incurred by him in connection with the performance of his duties of employment hereunder; provided, however, Executive shall as a condition of such reimbursement, submit verification of the nature and amount of such expenses in accordance with the reimbursement policies from time to time adopted by the Company.
Compensation Benefits and Reimbursement of Expenses. (a) As compensation for all of his services hereunder, the Company, or the Subsidiary, shall pay Executive an annual base salary of $340,000.00 (“Salary”). If requested by the Board, Executive shall serve as a member of the Board or the board of directors of the Subsidiary or any affiliate of the Company without receiving any additional compensation for such service. Such Salary shall be paid in accordance with the normal payroll practices of the Company, or the Subsidiary, as the case may be, and shall be subject to such deductions and withholdings as are required by law or by the policies of the Company, or the Subsidiary, as the case may be, from time to time in effect, or as otherwise authorized by written notice from the Executive. The Executive’s annual base Salary of $340,000.00 shall be retroactive to December 1, 2009. A lump sum payment in the amount of the difference between the prior annual gross base salary of $280,000 that Executive actually received during the time period December 1, 2009 to June 30, 2010, and the annual base salary of $340,000.00 for that same time period, less any applicable withholdings required by law, is due and payable to Executive within 10 days after the execution hereof.
(b) Executive shall be entitled to participate in the Management Bonus Plan, which shall remain in effect during the Term, and any and all Extension Terms, of this Employment Agreement. (“Term” and “Extension Term” are defined in Paragraph 3 of this Employment Agreement.) A copy of that portion of the Management Bonus Plan applicable to Executive is attached hereto as Exhibit “A” and is incorporated by reference herein. All stock in the Company and/or the Subsidiary that has been allocated to the Executive or that Executive has received or acquired or that is transferable to Executive pursuant to the Management Bonus Plan shall automatically become fully vested upon (1) termination of this Employment Agreement pursuant to Paragraph 3(b)(iii) or Paragraph 3(b)(iv); (2) termination of this Employment Agreement because of the Executive’s death; or (3) upon a termination of employment in connection with a Change of Control as described herein in Paragraph 3(e).
Compensation Benefits and Reimbursement of Expenses. (a) As compensation for his services hereunder, the Subsidiary shall pay Executive an annual base salary of Two Hundred Sixty Thousand Dollars ($260,000.00). Such salary shall be paid in accordance with the normal payroll practices of the Subsidiary and shall be subject to such deductions and withholdings as are required by law or by the policies of the Subsidiary, from time to time in effect.
(b) Executive shall be entitled to received an annual bonus ("Bonus") with respect to each fiscal year of the Company ending during the Term of this Agreement in an amount equal to three percent (3%) of
Compensation Benefits and Reimbursement of Expenses. The Company shall compensate the Executive during the Term of this Plan as follows:
Compensation Benefits and Reimbursement of Expenses. (a) As compensation for his services hereunder, the Company, or the Subsidiary, shall pay Executive an annual base salary of Two Hundred Sixty One Thousand Seven Hundred Dollars ($261,700.00) . Such salary shall be paid in accordance with the normal payroll practices of the Company, or the Subsidiary, as the case may be, and shall be subject to such deductions and withholdings as are required by law or by the policies of the Company, or the Subsidiary, as the case may be, from time to time in effect.
(b) Executive shall be entitled to received an annual bonus ("Bonus") with respect to each fiscal year of the Company ending during the Term of this Agreement in an amount equal to three percent (3%) of the Company's Pretax Adjusted Annual Income (as defined immediately hereafter). “Pretax Adjusted Annual Income” shall mean, with respect to a given fiscal year, earnings before taxes as reported on the Company's audited consolidated statement of operations for such fiscal year, excluding extraordinary nonoperational costs and profits.
Compensation Benefits and Reimbursement of Expenses