Common use of Compensation; Benefits; Expenses; and Bonus Clause in Contracts

Compensation; Benefits; Expenses; and Bonus. (a) As compensation for the services to be rendered hereunder, until December 31, 2001, Morton's shall pay to Xxxxxxx a base salary (as adjusted thereafter pursuant to the next sentence hereof, the "Base Salary") at the rate of $266,000 per annum, payable in equal installments at such times as shall be agreed upon by Morton's and Xxxxxxx, but no less frequently than monthly. The annual Base Salary for the calendar year commencing January 1, 2002 and for each calendar year thereafter shall increase at no less than the rate of increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as compiled by the U.S. Bureau of Labor Statistics for the preceding year (the "CPI"). The Base Salary may be increased at a faster rate than that of the CPI, at the discretion of the Board of Directors.

Compensation; Benefits; Expenses; and Bonus. (a) As compensation for the services to be rendered hereunder, until December 31, 2001, Morton's shall pay to Xxxxxxx Xxxxxxxx a base salary (as adjusted thereafter pursuant to the next sentence hereof, the "Base Salary") at the rate of $266,000 125,000 per annum, payable in equal installments at such times as shall be agreed upon by Morton's and XxxxxxxXxxxxxxx, but no less frequently than monthly. The annual Base Salary for the calendar year commencing January 1, 2002 and for each calendar year thereafter shall increase at no less than the rate of increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as compiled by the U.S. Bureau of Labor Statistics for the preceding year (the "CPI"). The Base Salary may be increased at a faster rate than that of the CPI, at the discretion of the Board of Directors.

Compensation; Benefits; Expenses; and Bonus. (a) As compensation for the services to be rendered hereunder, until December 31, 20012006, Morton's MRG shall pay to Xxxxxxx a base salary (as adjusted thereafter pursuant to the next sentence hereof, the "“Base Salary"”) at the rate of $266,000 350,000 per annum, payable in equal installments at such times as shall be agreed upon by Morton's MRG and Xxxxxxx, but no less frequently than monthly. The annual Base Salary for the calendar year commencing January 1, 2002 2007 and for each calendar year thereafter shall increase at no less than the rate of increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers, as compiled by the U.S. Bureau of Labor Statistics for the preceding year (the "“CPI"”). The Base Salary may be increased at a faster rate than that of the CPI, at the discretion of the Board of Directors.