Common use of Compensation Reimbursement Etc Clause in Contracts

Compensation Reimbursement Etc. (a) The Company shall pay to Executive as compensation for all services rendered by Executive during the term of this Agreement a basic annualized salary of $85,800.00 per year (the "Basic Salary"), or such other sums as the Board of Directors of the Company and Executive may agree on from time to time, payable monthly or in other more frequent installments, as determined by the Company, subject to all standard withholding practices and procedures of the Company. The Board of Directors of the Company shall have the right to increase Executive's compensation from time to time by action of the Board of Directors. For the period commencing January 1, 2000 through the date of this Agreement, Executive will be paid a prorated share of the "Total Target Bonus" set forth on Annex I attached hereto, payable on such date as the Board of Directors may determine on or before December 31, 2001. In addition, the Board of Directors of the Company, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to Executive. The compensation provided for in this Section 3(a) shall be in addition to any 401(k), pension or profit sharing payments set aside or allocated for the benefit of Executive. (b) The Company shall reimburse Executive for all reasonable expenses incurred by Executive in the performance of his duties under this Agreement; provided, however, that Executive must furnish to the Company an itemized account, satisfactory to the Company, in substantiation of such expenditures. (c) Executive shall be entitled to such fringe benefits including, but not limited to, medical and insurance benefits as may be provided from time to time by the Company to other senior officers of the Company.

Compensation Reimbursement Etc. (a) The Company shall pay to Executive as compensation for all services rendered by Executive during the term of this Agreement a basic annualized salary of $85,800.00 260,000.00 per year (the "Basic Salary"), or such other sums as the Board of Directors of the Company and Executive may agree on from time to time, payable monthly or in other more frequent installments, as determined by the Company, subject to all standard withholding practices and procedures of the Company. The Board of Directors of the Company shall have the right to increase Executive's compensation from time to time by action of the Board of Directors. For the period commencing January 1, 2000 through the date of this Agreement, Executive will be paid a prorated share of the "Total Target Bonus" set forth on Annex I attached hereto, payable on such date as the Board of Directors may determine on or before December 31, 2001. In addition, the The Board of Directors of the Company, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to Executive. For purposes hereof, Executive's target bonus for the year 2000 is $200,000.00. The compensation provided for in this Section 3(a) shall be in addition to any 401(k), pension or profit sharing payments set aside or allocated for the benefit of Executive. (b) The Company shall reimburse Executive for all reasonable expenses incurred by Executive in the performance of his duties under this Agreement; provided, however, that Executive must furnish to the Company an itemized account, satisfactory to the Company, in substantiation of such expenditures. (c) Executive shall be entitled to such fringe benefits including, but not limited to, medical and insurance benefits as may be provided from time to time by the Company to other senior officers of the Company. (d) In addition to all other compensation provided for in this Agreement, the Company shall pay to Executive in cash on the date hereof, subject to all standard withholding practices and procedures of the Company, a one-time special bonus in the amount of $500,000.00.

Compensation Reimbursement Etc. (a) The Company shall pay to Executive as compensation for all services rendered by Executive during the term of this Agreement a basic annualized salary of $85,800.00 175,000.00 per year (the "Basic Salary"), or such other sums as the Board of Directors of the Company and Executive may agree on from time to time, payable monthly or in other more frequent installments, as determined by the Company, subject to all standard withholding practices and procedures of the Company. The Board of Directors of the Company shall have the right to increase Executive's compensation from time to time by action of the Board of Directors. For the period commencing January 1, 2000 through the date of this Agreement, Executive will be paid a prorated share of the "Total Target Bonus" set forth on Annex I attached hereto, payable on such date as the Board of Directors may determine on or before December 31, 2001. In addition, the Board of Directors of the Company, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to Executive. The compensation provided for in this Section 3(a) shall be in addition to any 401(k), pension or profit sharing payments set aside or allocated for the benefit of Executive. (b) The Company shall reimburse Executive for all reasonable expenses incurred by Executive in the performance of his duties under this Agreement; provided, however, that Executive must furnish to the Company an itemized account, satisfactory to the Company, in substantiation of such expenditures. (c) Executive shall be entitled to such fringe benefits including, but not limited to, medical and insurance benefits as may be provided from time to time by the Company to other senior officers of the Company. (d) In addition to all other compensation provided for in this Agreement, the Company shall pay to Executive in cash, subject to all standard withholding practices and procedures of the Company, special bonuses in the amounts of (1) $78,330.00 on the date hereof, (2) $78,330.00 on June 13, 2001 if, and only if, Executive is employed by the Company on such date, and (3) $78,340.00 on June 13, 2002 if, and only if, Executive is employed by the Company on such date; provided that if Executive's employment is terminated by the Company for any reason other than good cause (as defined below), all of the special bonuses described in this clause (d) shall be deemed earned and payable on the date of such termination.

Compensation Reimbursement Etc. (a) The Company shall pay to Executive as compensation for all services rendered by Executive during the term of this Agreement a basic annualized salary of $85,800.00 140,000.00 per year (the "Basic Salary"), or such other sums as the Board of Directors of the Company and Executive may agree on from time to time, payable monthly or in other more frequent installments, as determined by the Company, subject to all standard withholding practices and procedures of the Company. The Board of Directors of the Company shall have the right to increase Executive's compensation from time to time by action of the Board of Directors. For the period commencing January 1, 2000 through the date of this Agreement, Executive will be paid a prorated share of the "Total Target Bonus" set forth on Annex I attached hereto, payable on such date as the Board of Directors may determine on or before December 31, 2001. In addition, the Board of Directors of the Company, in its discretion, may, with respect to any year during the term hereof, award a bonus or bonuses to Executive. The compensation provided for in this Section 3(a) shall be in addition to any 401(k), pension or profit sharing payments set aside or allocated for the benefit of Executive. (b) The Company shall reimburse Executive for all reasonable expenses incurred by Executive in the performance of his duties under this Agreement; provided, however, that Executive must furnish to the Company an itemized account, satisfactory to the Company, in substantiation of such expenditures. (c) Executive shall be entitled to such fringe benefits including, but not limited to, medical and insurance benefits as may be provided from time to time by the Company to other senior officers of the Company.