Compensation of the Executive. (a) As compensation for the services provided by the Executive under this Agreement, the Company will pay the Executive an annual salary of $240,000.00, to be paid in accordance with the Company's usual payroll procedures (the “Salary”). (b) In addition to the Salary, the Executive may be eligible to receive an annual bonus determined by the Board based on the performance of the Company.
Appears in 2 contracts
Samples: Executive Employment Agreement (Arkanova Energy Corp.), Executive Employment Agreement (Arkanova Energy Corp.)
Compensation of the Executive. (a) As compensation for the services provided by the Executive under this Agreement, the Company will pay the Executive an annual salary of $240,000.00190,000.00, to be paid in accordance with the Company's usual payroll procedures (the “Salary”).
(b) In addition to the Salary, the Executive may be eligible to receive an annual bonus determined by the Board based on the performance of the Company.
Appears in 1 contract
Samples: Executive Employment Agreement (Arkanova Energy Corp.)
Compensation of the Executive. (a) As compensation for the services provided by the Executive under this Agreement, the Company will pay the Executive an annual salary of $240,000.00175,000.00, to be paid in accordance with the Company's usual payroll procedures (the “Salary”).
(b) In addition to the Salary, the Executive may be eligible to receive an annual bonus determined by the Board based on the performance of the Company.
Appears in 1 contract
Samples: Executive Employment Agreement (Arkanova Energy Corp.)
