Common use of Compensation during the Initial Term Clause in Contracts

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

AutoNDA by SimpleDocs

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 17,500.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 210,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 14,584.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 175,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 11,667.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 140,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 16,667.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 200,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

AutoNDA by SimpleDocs

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 10,417.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 125,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 $ for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 $ for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

Compensation during the Initial Term. Subject to the terms and conditions of this Agreement, the Company will cause Executive to be paid an annual salary of $10,000.00 29,167.00 for the partial year ending December 31, 1996 and will pay Executive an annual salary of $120,000.00 350,000.00 for each of the years ending December 31, 1997, 1998 and 1999 (such annual salary hereinafter referred to as the "Base Compensation"). The Base Compensation will be reviewed annually by the Compensation Committee of the Board of Directors of the Company. In addition, Executive will be entitled to participate in the Company's Incentive Plan in accordance with the terms thereof (the "Incentive Plan Amount").

Appears in 1 contract

Samples: Employment Agreement (Genesis Energy Lp)

Time is Money Join Law Insider Premium to draft better contracts faster.