Compensation During Term Sample Clauses

Compensation During Term. During the term of this Agreement, the Company shall pay Executive the following compensation, including the following salary and other benefits:
Sample 1
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Compensation During Term. Executive shall be entitled to the following compensation for services as an employee or consultant hereunder: (a) Initial base compensation of $120,000.00 per year, payable in convenient installments not less frequently than monthly. (b) Continuing participation in all other employee benefit plans and practices of the Company in effect as of the Effective Date, as the same may be modified, supplemented or replaced, as well as to reimbursement, upon proper accounting, of reasonable expenses and disbursements incurred by Executive in the course of Executive's duties; and (c) Participation in the Company's Executive Bonus Plan and Stock Option Plan.
Sample 1
Compensation During Term. During the Term, your compensation will not change, provided that no further equity awards will be granted to you and you will not participate in any annual or long-term incentive programs in respect of for any period beginning on or after January 1, 2011.
Sample 1
Compensation During Term. The Company agrees to compensate Executive for the services rendered by him during the Term as follows:
Sample 1
Compensation During Term. (a) During the Term, the Executive shall (i) receive an annual salary at a rate not less than the Executive's annual base salary payable monthly or otherwise as in effect immediately prior to the commencement of the Term or such higher rate as may be determined from time to time thereafter by the Board of Directors of the Company (the "Board") or the Compensation Committee thereof (which base salary at such rate is herein referred to as "Base Pay") and (ii) participate in such incentive pay plan(s) or program(s) maintained by the Company for its senior executives at a level commensurate with similarly situated senior executives of the Company; provided, however, the sum of the Executive's Base Pay and incentive pay (the "Total Pay") for any year during the Term shall not be less than the sum of (x) the Executive's Base Pay as of the effective date of this Agreement and (y) the highest annual cash incentive amount paid to the Executive by the Company with respect to 1992, 1993 or 1994. (b) During the Term, the Executive shall be a participant in, and shall be entitled on the same basis as similarly situated senior executives to the perquisites, benefits and service credit for benefits as provided under, any and all employee retirement income and welfare benefit policies, plans, programs, or arrangements in which similarly situated senior executives of the Company participate, including, without limitation, any savings, pension, supplemental executive retirement or other retirement income or welfare benefit, deferred compensation, group and/or executive life, health, medical/hospital or other insurance (whether funded by actual insurance or self-insured by the Company), disability, salary continuation, expense reimbursement and other employee benefit policies, plans, programs or arrangements, including, if and for so long as the Executive is assigned to a work location (c) The Executive shall receive $76,592 within five business days after signing this Agreement and delivering same to the Company. (d) If the Executive remains employed with the Company until June 30, 1996, then within five business days following that date the Company shall pay the Executive $76,592 in a lump sum as a "stay-on" bonus, regardless of whether the Executive continues his employment following June 30, 1996. (e) If the Executive remains employed with the Company until June 30, 1997, then within five business days following that date the Company shall pay the Executive $76,592 in a ...
Sample 1
Compensation During Term. During the Term, the Executive shall receive an annual base salary (which base salary is herein referred to as "Base Pay") and shall have the opportunity to earn an annual bonus (the "Annual Bonus") and may have the opportunity to earn a special bonus (the "Special Bonus") in each case, in such amounts, at such rates, at such times and subject to such conditions as may be determined annually by the Board pursuant to a formal resolution adopted by the Board (hereinafter referred to as the "Compensation Resolution"). After delivery of a copy of the Compensation Resolution (certified by the Secretary of the Company) to the Executive, the amount, terms and conditions of the Base Pay, Annual Bonus and Special Bonus (if any) to be earned by and paid to the Executive for the fiscal year to which the Compensation Resolution relates, may not be amended in a manner adverse to the Executive without the written consent of the Executive. The Executive acknowledges the receipt of the Compensation Resolution relating to the 2000 fiscal year of the Company. The Company will deliver to the Executive subsequent Compensation Resolutions relating to subsequent fiscal years of the Company, in a manner consistent with the Company's past compensation practices. Unless otherwise provided in the applicable Compensation Resolution, the Executive's Base Pay shall be payable in accordance with the Company's generally applicable payroll policies and this Agreement. Unless otherwise provided in the applicable Compensation Resolution, the Executive's Annual Bonus shall be paid in accordance with the Company's past compensation practices and this Agreement. Any Special Bonus payable to the Executive shall be paid in accordance with the terms of the applicable Compensation Resolution and this Agreement. The Annual Bonus and the Special Bonus are hereinafter collectively referred to as "Incentive Pay." If this Agreement is "renewed" for one or more renewal periods (pursuant to Section 2) the Executive's Base Pay for such renewal period will not be less than the Base Pay payable to the Executive pursuant to the Compensation Resolution applicable to the immediately preceding annual period and the target bonus amount with respect to any such renewal period will be not less than one hundred percent (100%) of the Base Pay payable with respect to such renewal period.
Sample 1
Compensation During Term. During the Term, the Company shall continue to pay Executive his current base salary, which may be increased from time to time in the discretion of the Board, and Executive shall remain eligible to participate in the Company's non-equity annual incentive, long-term equity incentive bonus programs, and other Company employee benefit programs administered by the Compensation Committee and the Company, which are separate from the RSU Award described in this Agreement.
Sample 1
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Compensation During Term. In consideration of your forty years of service as an executive of the Company and as compensation for your transition employment services to the Company during the Term: 1. The Company shall pay you an annual base salary in the amount of $600,000 on a semimonthly basis beginning in the first month after the month of your Transition Date. 2. The Company shall pay you (or in the event of your death or disability, your estate or beneficiary, as applicable) any earned bonuses under the Company’s executive incentive bonus plans for fiscal year 2013 and any previous years in accordance with their terms, with payment occurring no later than the 15th day of the third month following the Company’s fiscal year for which the bonus is awarded. 3. Your existing outstanding stock options and restricted stock units shall continue to vest in accordance with the terms of such grants during the Term of this Agreement. 4. For each year during the Term of this Agreement, you shall receive annual nonqualified stock option grants to purchase 100,000 shares of Company stock in accordance with the general terms of options awarded to other C-level Company executives, except as may otherwise be specified herein. 5. During the Term of this Agreement, you shall be eligible to continue to participate in all the Company’s benefit plans, including without limitation, medical, dental, hospitalization, vision, life and disability. Additionally, you shall continue to receive an office, administrative support, parking at the Company’s headquarters and reimbursement for all business-related expenses. You shall continue to receive the use of two automobiles for so long as the Company maintains its sponsorship agreement with General Motors pursuant to which the Company is provided with automobiles for use by its executives.
Sample 1
Compensation During Term 
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Related to Compensation During Term

  • Death During Benefit Period If the Executive dies after the benefit payments have commenced under this Agreement but before receiving all such payments, the Company shall pay the remaining benefits to the Executive's beneficiary at the same time and in the same amounts they would have been paid to the Executive had the Executive survived.

  • Non-Competition During Employment Executive agrees during the Basic Term, and any extension of the Basic Term under this Agreement, he will not compete with the Company by engaging in the conception, design, development, production, marketing, or servicing of any product or service that is substantially similar to the products or services which the Company provides, and that he will not work for, in any capacity, assist, or became affiliated with as an owner, partner, etc., either directly or indirectly, any individual or business which offer or performs services, or offers or provides products substantially similar to the services and products provided by Company.

  • Partial Disposal During Term of Service Agreement Throughout the Term of the Service Agreement, LEA may request partial disposal of Student Data obtained under the Service Agreement that is no longer needed. Partial disposal of data shall be subject to LEA’s request to transfer data to a separate account, pursuant to Article II, section 3, above.

  • Death During Employment If the Executive dies during the term of employment and has not attained the age of seventy years, the Corporation and/or any third party insurance provided by the Corporation, through a coordination of benefits, shall pay the estate of the Executive a death benefit equal to two times the Executive's annual salary. In the event the Executive receives death benefits payable under any group life insurance policy issued to the Corporation, the Corporation's liability under this clause will be reduced by the amount of the death benefit paid under such policy. The Corporation shall pay any remaining death benefits to the estate of the Executive over the course of twelve (12) months in the same manner and under the same terms as the Executive would have been paid if he had still been working for the Corporation. No later than one (1) month from the date of death, the estate of the Executive will also be paid any accumulated vacation pay. Such payments pursuant to this paragraph shall constitute the full compensation of said Executive and he and his estate shall have no further claim for compensation by reason of his employment by the Corporation.

  • Employment During Unpaid Maternity Leave Where less than the 52 weeks Other Parent Leave is taken paid or unpaid, the unused portion of the leave cannot be banked or preserved in any way.

  • Benefits During Leave Employees are encouraged to contact the Employer’s Benefits Office (phone # 000-000-0000, xxxxxxxx@xx.xxx) prior to any leave without pay to understand impact on benefits and learn about other points to consider.

  • Compensation Following Termination In the event that Executive’s employment hereunder is terminated, Executive shall be entitled only to the following compensation and benefits upon such termination:

  • Compensation Upon Termination or During Disability (i) During any period in which the Executive fails to perform his duties as a result of incapacity due to physical or mental illness, he shall continue to receive his full base salary at the rate then in effect until his employment is terminated pursuant to paragraph 3(i) hereof. Thereafter, his benefits, if any, shall be determined in accordance with whatever disability income insurance plan or plans the Corporation may then have in effect; provided, however, that, if at the time Disability of the Executive is established the disability benefits then available are less advantageous to the Executive than the disability benefits which were available on the date the Change in Control became effective, then his termination of employment by the Corporation shall be deemed to have occurred as a voluntary termination for Good Reason under paragraph 3(iii) hereof and not by reason of Disability, and the provisions of paragraph 4(iii) hereof shall apply in lieu of the provisions of this paragraph 4(i). (ii) If the Executive’s employment shall be terminated for Cause or if the Executive’s employment is terminated by the Executive without Good Reason, the Corporation shall pay to him his full base salary through the Date of Termination at the rate in effect at the time Notice of Termination is given and the Corporation shall have no further obligations to the Executive under this Agreement. (iii) If the Corporation shall terminate the Executive’s employment other than pursuant to paragraph 3(i) or 3(ii) hereof within 24 months after a Change in Control of the Corporation, or if the Executive shall terminate his employment for Good Reason pursuant to paragraph 3(iii) hereof within 24 months after a Change in Control, then: (A) The Corporation shall pay to the Executive, not later than thirty (30) days following the Date of Termination, the Executive’s accrued but unpaid base salary through the Date of Termination, plus compensation for current and carried-over unused vacation and compensation days in accordance with the Corporation’s personnel policy, and reimbursement for all reasonable business expenses in accordance with the Corporation’s business expense policy. (B) In lieu of any further payments of salary to the Executive after the Date of Termination the Corporation shall pay to the Executive, not later than thirty (30) days following the Date of Termination and notwithstanding any dispute between the Executive and the Corporation as to the payment to the Executive of any other amounts under this Agreement or otherwise, a lump sum severance payment (the “Severance Payment”) equal to 2.99 times an amount equal to the sum of (1) the greater of the Executive’s highest annual base salary in effect at any time within the twelve-month period preceding a Change in Control or the Date of Termination, and (2) the greater of (I) the Target Incentive Award or Target Amount to which the Executive would have been entitled under the Corporation’s Executive Incentive Compensation Plan (the “EICP”) or Annual Discretionary Management Incentive Compensation Plan (the “ADMICP”), as applicable, and the base or target amount to which the Executive would have been entitled under any other annual cash bonus program of the Corporation, had he been employed by the Corporation at the end of the fiscal year in which the Date of Termination occurs, or (II) the highest amount awarded to the Executive under the EICP or ADMICP and under any other annual cash bonus program of the Corporation during the last three fiscal years prior to the Date of Termination. (C) In addition to the foregoing amounts payable under paragraph 4(iii)(A) and (B) above, the Executive will be entitled to the following: (i) a pro rata bonus for the year of termination equal to the Target Incentive Award or Target Amount under the EICP or ADMICP, as applicable, multiplied by a fraction, the numerator of which is the number of calendar days that have elapsed from the beginning of the fiscal year in which such termination occurs through the Date of Termination, and the denominator of which is the number of calendar days in the fiscal year, payable not later than thirty (30) days following the Date of Termination; (ii) any stock option rights held by the Executive which were not fully exercisable on the Date of Termination shall immediately become fully exercisable by the Executive and any restricted stock rights held by the Executive which were not fully vested on the Date of Termination shall immediately become fully vested; (iii) the Corporation shall maintain in full force and effect, for the Executive’s continued benefit, until the earlier of (I) 36 months after the Date of Termination or (II) the Executive’s 65th birthday, all life, medical and dental insurance programs in which the Executive was entitled to participate immediately prior to the Date of Termination; provided that his continued participation is possible under the general terms and provisions of such programs; provided, further, that, in the event the Executive’s participation in any such program is barred, the Corporation shall arrange to provide the Executive with benefits substantially similar to those which he was entitled to receive under such programs; (iv) in addition to the benefits to which the Executive is entitled under the Corporation’s retirement plans in which he participates or any successor plans or programs in effect on the Date of Termination, the Corporation shall pay to the Executive in one lump sum in cash, an amount equal to the actuarial equivalent of the retirement pension to which the Executive would have been entitled under the terms of such retirement plan or programs had he accumulated 36 additional months of continuous service after the Date of Termination (or, if less, the number of months between the Date of Termination and the date on which the Executive attains normal retirement age under the plan) at his base salary rate in effect on the Date of Termination reduced by the single sum actuarial equivalent of any amounts to which the Executive is entitled pursuant to the provisions of said retirement plans and programs, discounted to reflect its then present value, paid at the same time as the Severance Payment; provided that, for purposes of this subparagraph (3), the actuarial equivalents shall be determined, and all other calculations shall be made, using the same methods and assumptions utilized under the Corporation’s retirement plan or programs; provided, however, that such methods and assumptions shall be no less favorable to the Executive than those in effect on the date of the Change in Control; and (v) If a Change of Control occurs and Executive becomes entitled to compensation under this Paragraph that would be subject to the excise tax imposed under Section 4999 of the Code, the Company shall reduce its payment of Separation Benefits to the Participant to $1.00 less than that amount which would trigger the excise tax if such reduction would result in the Participant receiving an equal or greater after-tax benefit than the Participant would receive if the full Separation Benefits were paid. (vi) The Executive’s right to receive payments under this Agreement shall not decrease the amount of, or otherwise adversely affect, any other benefits payable to the Executive under any plan, agreement or arrangement relating to employee benefits provided by the Corporation. (vii) The Executive shall not be required to mitigate the amount of any payment provided for in this paragraph 4 by seeking other employment or otherwise, nor shall the amount of any payment or benefit provided for in this paragraph 4 be reduced by any compensation earned by the Executive as the result of employment by another employer or by reason of the Executive’s receipt of or right to receive any retirement or other benefits after the date of termination of employment or otherwise. (viii) The Corporation may, but shall not be obligated to, provide security for payment of the amounts set forth in this Agreement in a form that will cause such amounts to be includible in the Executive’s gross income only for the taxable year or years in which such amounts are paid to the Executive under the terms of this Agreement. The form of security may include a funded irrevocable grantor trust established so as to satisfy any published Internal Revenue Service guidelines. (ix) The Corporation may withhold from any amounts payable under this Agreement such federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

  • Compensation During Dispute If a purported termination occurs following a Change in Control and during the Term and the Date of Termination is extended in accordance with Section 7.3 hereof, the Company shall continue to pay the Executive the full compensation in effect when the notice giving rise to the dispute was given (including, but not limited to, salary) and continue the Executive as a participant in all compensation, benefit and insurance plans in which the Executive was participating when the notice giving rise to the dispute was given, until the Date of Termination, as determined in accordance with Section 7.3 hereof. Amounts paid under this Section 7.4 are in addition to all other amounts due under this Agreement (other than those due under Section 5.2 hereof) and shall not be offset against or reduce any other amounts due under this Agreement.

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