Compensation Salary. During the Employment Period, Company shall pay Employee salary at the rate of (i) $10,000 per month prorated for any partial employment month ("Salary"). Salary shall be paid on a monthly basis (“Payday”) or, in the event that Payday falls on a Saturday, Sunday or holiday, on the next business day. Salary may be paid, at the Company’s sole discretion, either in
(a) cash, or
(b) shares of the Company’s common stock (“Stock Payment”) Employee acknowledges that any Stock Payments issued pursuant to this Agreement that are not registered pursuant to the Securities Act of 1933 shall constitute “restricted securities” as that term is defined in Rule 144 promulgated under the Securities Act of 1933, and shall contain the following restrictive legend: THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR SECURITIES LAWS OF ANY STATE AND MAY NOT BE OFFERED, SOLD, ASSIGNED, PLEDGED, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT AND APPLICABLE STATE SECURITIES LAWS OR PURSUANT TO AN AVAILABLE EXEMPTION FROM REGISTRATION UNDER THE ACT OR SUCH LAWS AND, IF REQUESTED BY THE COMPANY, UPON DELIVERY OF AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT THE PROPOSED TRANSFER IS EXEMPT FROM THE ACT OR SUCH LAWS. The Company may register any Stock Payment pursuant to the Securities Act of 1933, but is not obligated to do so pursuant to this Agreement.
Compensation Salary. For Employee’s services under this Agreement, the Company will pay to Employee an annual base salary of $250,000 during the Employment Period, less all previously authorized or required deductions and withholding (“Salary”). Such Salary will be payable periodically consistent with the normal practices of the Company; provided that Salary shall be paid ratably in installments not less than once a month. On the first day of each fiscal year during the Employment Period, Employee’s annual base salary will be increased by an amount equal to at least three percent (3%) of Employee’s annual base salary for the immediately preceding fiscal year.
Compensation Salary. So long as funds are available to the Corporation, after the payment of all expenses, payroll, taxes and fees, the Shareholders shall receive the following compensation from the Corporation:
(a) Xxxxxxxxx shall receive an annual salary of $250,000 for services rendered in managing the day to day operations of the Corporation;
(b) PCP shall receive an annual consulting fee of $83,333 for services rendered in directing the corporate governance and financial affairs of the Corporation.
Compensation Salary. Paragraph 3(a) shall be amended to replace the second and third sentences thereof with the following two sentences: “Your Salary was increased on May 1, 2006 to Seven Hundred Twenty Five Thousand ($725,000) per annum and shall remain at that level for the remainder of the Employment Term.”
Compensation Salary. The Board and the E.E.A. agree to a 2024-25 school year base wage increase of 4.12%. In the event that the increase identified in paragraph 2.0 (a) above exceeds the amount of increase allowable by law as a mandatory subject of bargaining, such increase which is permitted shall be contractually enforced.
Compensation Salary. During the Employment Period, Company shall pay Employee salary at the rate of:
(i) During the period commencing June 14, 2018 and ending upon the expiration of the Employment Period, Company shall pay Employee salary at the rate of $16,667 per month prorated for any partial employment month ("Salary"). Salary shall be paid on a monthly basis (“Payday”). In the event that Payday falls on a Saturday, Sunday or holiday, Salary shall be paid on the next business day. The Company acknowledges employee has been serving without an employment agreement. In order to compensate the employee for work previously performed, employee shall received an employment agreement signing bonus of 800 Series AA Preferred shares and 150,000 Series M Preferred shares of the Company's stock.
Compensation Salary. Paragraph 3(a) shall be amended to add the following sentence at the end thereof: "Your Salary will be increased on May 1, 2003 to One Million Dollars ($1,000,000) a year for the balance of the Term."
Compensation Salary. 4.1 The salaries of employees covered by this Agreement are set forth in Appendix A and Appendix B as shown in both grades and steps.
Compensation Salary. The Board shall pay the Superintendent an annual base salary of $215,000, to be paid in equal installments in accordance with Board Policy. As provided by Ohio law, this salary may not be decreased during the term of this contract, except pursuant to a uniform plan affecting all employees of the District. All forms of compensation shall be reported to STRS as permitted by law. The Board shall withhold and transfer a portion of the Superintendent’s salary to a tax- deferred annuity program of the Superintendent’s choosing. Such annuity shall be provided as additional compensation, as set forth in section 2 (other compensation) below.
Compensation Salary. 6.1 Effective July 1, 2018, the annual salary of Xx. Xxxxxxxx shall be $287,000, and shall be paid in twelve (12) equal monthly installments.
6.2 The Board, in consultation with the Xxxxx XXX, reserves the right to otherwise adjust the Executive Director’s salary. Any adjustment in salary during the term of this Agreement shall be only in the form of an amendment and only as mutually agreed by and between the Parties, and shall not operate as a termination of this Agreement.
6.3 It is further provided that, with respect to any adjustment in salary, it shall not be considered that a new Agreement has been entered into or that the termination date of the existing Agreement has been extended.
