Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control ("Commencement Date") and ending upon the earlier of (i) three years after a Change of Control or (ii) upon termination of employment of Executive for any reason by Executive or by Fidelity Southern or the Bank or any Affiliate ("Employment Period"), the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the greater of (i) the annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary in effect on the Commencement Date will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter.
Compensation During Employment Period. As compensation for the services to be rendered by Executive to the Company during the Employment Period, Executive shall be paid the following compensation and other benefits:
Compensation During Employment Period. (a) During the period commencing one year prior to a Change of Control (“Commencement Date”) and ending upon the earlier of (i) three years after a Change of Control or (ii) upon the Executive’s Termination of Employment for any reason by the Executive or by Fidelity Southern or the Bank or any Affiliate (“Employment Period”), the Executive will receive an annual base salary (“Annual Base Salary”), at least equal to the greater of (i) the highest annual base salary payable to the Executive by Fidelity Southern, the Bank and/or Affiliates in respect of the twelve full calendar month period immediately preceding the Commencement Date or (ii) the highest annual base salary rate of the Executive payable on and after the Commencement Date and prior to the Change of Control. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time so as to be substantially consistent with increases in base salaries generally awarded in the ordinary course of business to other peer executives of Fidelity Southern, the Bank and Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary will not be reduced thereafter nor shall any such increase during the Employment Period be reduced thereafter. In the event a Change of Control occurs and the Executive has previously incurred a Termination of Employment within the one (1) year period prior to the Change of Control, if the Executive's Compensation for the period of the Executive's employment hereunder during that one year period prior to the Change of Control is less than a prorated portion of the Executive's Annual Base Salary for that same period of employment, then on the first business day of the calendar month following the Change of Control, the difference between the Compensation for the period of employment during the prior year and the prorated Annual Base Salary for the period of employment shall be paid to the Executive in a lump sum payment, net of any applicable tax withholding or similar obligations.
Compensation During Employment Period. (a) During the Employment Period, the Executive will receive an annual base salary ("Annual Base Salary"), at least equal to the base salary paid or payable to the Executive by Jefferson and its Affiliates in respect of the twelve-month period immediately preceding the Change of Control Date. During the Employment Period, the Annual Base Salary will be increased at any time and from time to time as will be substantially consistent with increases in base salary generally awarded in the ordinary course of business to other peer executives of Jefferson and its Affiliates. Any increase in Annual Base Salary will not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary will not be reduced after any such increase.
Compensation During Employment Period. During the Employment ------------------------------------- Period, Employee shall be entitled to the following compensation:
Compensation During Employment Period. As long as the Executive remains employed by the Company during the Employment Period, the Company agrees to pay or cause to be paid to the Executive, and the Executive agrees to accept in exchange for the services rendered hereunder by the Executive, the following compensation:
Compensation During Employment Period. The Company shall pay to Mr. Xxxxxxxx xxxe salary compensation at the rate of $650,000 per year until January 1, 1999, and thereafter as determined by the Compensation Committee of the Company's Board of Directors.
Compensation During Employment Period. (a) Upon the occurrence of a Change in Control, the Executive shall receive during the Employment Period, (i) Base Pay and (ii) an opportunity to receive annual cash incentive compensation pursuant to a plan or arrangement mutually agreed upon by the Board and the Executive.
Compensation During Employment Period. As compensation for the services to be rendered by Employee to the Company during the Employment Period, Employee shall be paid the compensation and benefits:
Compensation During Employment Period. As compensation in full for his services hereunder and for his entering into a separate and distinct non-competition arrangement as part of his Employment Agreement, Triumph shall cause Company to pay Employee a base salary at the rate of $150,000 per year ("Base Salary") for the fiscal year ending March 31, 1998, payable in monthly payments from the date hereof, less applicable payroll deductions, subject to such increases in Base Salary during the Employment Period as shall be approved by the Board of Directors of Triumph Group, Inc., the parent corporation of Triumph. In addition, Employee will be eligible to receive a target annual bonus of 50% of Base Salary, with an overachievement potential of up to 100% of Base Salary, in accordance with the bonus plan available to senior executives of Triumph's operating companies based upon the achieving the operational and financial goals set forth on Appendix I to his agreement, subject to such deferral arrangements as are provided in the Triumph Supplemental Executive Retirement Plan effective April 1, 1994 (the "Supplemental Retirement Plan") or otherwise approved by the Board of Directors of Triumph Group, Inc.. For the fiscal year ending March 31, 1998, Triumph agrees that Employee's bonus shall be no less than $30,000. Triumph further agrees that, during the Employment Period, Employee shall be entitled to (a) reasonable vacations without cessation of salary payments consistent with Triumph's policies applicable thereto; (b) hospitalization and health and major medical benefits consistent with the existing policies of Company; (c) group term life insurance coverage of $350,000, (d) reimbursement for travel and entertainment expenses related to Business consistent with policies of Triumph; (d) participation in the Triumph Group, Inc. 1996 Stock Option Plan at levels consistent with senior executives of Triumph operating companies, (e) the travel and accidental death life insurance program, and the short term disability and insured long term disability programs applicable to Triumph's operation company presidents, and (f) such other benefits, including sick leave and eligibility for the Triumph Group, Inc. 401(k) plan, as are made generally available to other managers of companies within Triumph occupying similar positions.
