Compensation Salary and Benefits Sample Clauses

Compensation Salary and Benefits. 2.1 For his services hereunder, Executive shall receive an annual salary of $145,000, payable in regular installments under the payroll of the Company. 2.2 The level of Executive's salary shall be reviewed by the Board of Directors on an annual basis and upon such review, may remain the same or be increased in such amount as the Board of Directors, in its discretion, based upon merit, determines, provided that there shall be no decrease in the salary of the Executive without his consent. 2.3 In addition to the salary to which Executive is entitled under Section 2.1, Executive shall be entitled to participate in benefit plans, if any, that the Company may offer or establish from time to time for Executives of equal or lesser rank. Participation in benefit plans for the Executive shall terminate if the Company terminates similar benefits for Executives of equal or lessor rank. 2.4 If at any time the Company does not maintain medical and dental insurance coverage for all Executives, the Company shall reimburse the Executive for securing private coverage during the term of this Agreement. 2.5 All salary and benefits, if any, shall be subject to the customary withholding of taxes as required by law. Except as otherwise provided in Section 8 hereof, Executive's salary and benefits end immediately upon the termination of employment.
Sample 1
AutoNDA by SimpleDocs
Compensation Salary and Benefits. A. The Board of School Directors and the Assistant Superintendent agree to the following: In recognition of the complexity of the position of Assistant Superintendent and the Board’s desire to compensate its Assistant Superintendent fairly, and in consideration of the Assistant Superintendent’s agreement to perform her duties to the best of her ability, the Board shall compensate the Assistant Superintendent in the amount of One Hundred Forty-Five Thousand Five Hundred Dollars ($145,500.00) per annum, for the period beginning July 1, 2023, which amount shall be the Assistant Superintendent’s base salary. Effective July 1, 2024 and on July 1st of each subsequent year of this Contract, the Assistant Superintendent shall receive a minimum annual increase to her annual base salary in an amount equal to three percent (3%) of her then-current annual salary. The Assistant Superintendent shall receive such increases unless the Assistant Superintendent’s performance is rated as “unsatisfactory” on her annual performance assessment for the prior school year in accordance with the provisions of this Contract. Each increase shall be added to and become part of her annual base salary. The Board may provide additional increases to the Assistant Superintendent’s salary in its discretion throughout the life of this Contract. The District retains the right to adjust the Assistant Superintendent’s annual salary during the term of this Contract and any extension thereof, provided that such adjustment shall not reduce the annual salary in effect at any given time without the written approval of the Assistant Superintendent. The annual salary shall be paid in equal installments in accordance with the policy of the Board governing payment of salary to other professional staff members of the District. B. In addition to the annual salary set forth herein, the Assistant Superintendent shall receive, and the District shall provide and pay for the following benefits:
Sample 1
Compensation Salary and Benefits. 18.1 Unit members will receive wages and fringe benefits according to the following schedules. The salary schedule (Appendix A, 17-18 and Appendix A, 18-19) shall reflect the following
Sample 1
Compensation Salary and Benefits. 6.1. The Superintendent shall be paid a salary in the amount of One Hundred Eighty Three Thousand Three Hundred and Forty Dollars ($183,340) per year, in accordance with the schedule of salary payments in effect for other certified employees of the District. At any time during the term of this Contract, the Board may, in its discretion, review and adjust the salary of the Superintendent, but in no event shall the Superintendent be paid less than the salary set forth in this Section 6.1 except by mutual written agreement of the two parties. Such adjustments, if any, shall be made pursuant to a lawful Board resolution. In such event, the parties agree to provide their best efforts and reasonable cooperation to execute a new contract incorporating the adjusted salary. 6.2. The District shall pay for group health and hospitalization insurance for the Superintendent, and shall provide him with all other health and group benefits on the same basis as other twelve-month administrative employees of the District. 6.3. The District shall additionally compensate the Superintendent in the amount necessary to pay for group health and hospitalization insurance for the Superintendent’s spouse and dependent children within the District’s insurance plan. This shall be a taxable benefit. 6.4. The Superintendent shall be entitled to the same holidays, annual vacation, sick leave, and personal leave time permitted other District administrative personnel employed under a twelve-month professional employment contract. 6.5. The District shall pay or reimburse the Superintendent for reasonable expenses incurred by the Superintendent in the continuing performance of the Superintendent's duties under this Contract. The District agrees to pay the actual and incidental costs incurred by the Superintendent for travel outside of the District. Such actual or incidental costs may include, but are not limited to, gasoline, hotels and accommodations, meals, rental car, and other expenses incurred in the performance of the business of the District. The Superintendent shall comply with all procedures and documentation requirements in accordance with Board policies and shall limit travel expenditures and incidental costs associated thereto to the amounts budgeted by the Board for that purpose. 6.6. The District shall pay the Superintendent an annual retirement benefit in the amount of 8.0% of his annual salary.
Sample 1
Compensation Salary and Benefits. 18.1 Unit members will receive wages and fringe benefits according to the following schedules. The salary schedule (Attachment A, 22-23) shall reflect the following: 1. 2022-2023 School Year a. Effective July 1, 2022, the parties agree that the District shall increase the 2021-2022 OTA unit member salary schedules by six percent (6%) consistent with Attachment A (2022-2023). The 2022-2023 increase described in this section shall not apply to annual stipends and extra duty assignments. b. Effective July 1, 2022, annual stipends shall be increased consistent with the attached certificated salary schedule to following: Masters $ 2,500 Doctorate $3,500 Longevity Beginning in the 15th year-$1,500 Beginning in the 20th year-$2,200 Beginning in the 25th year-$3,000 Beginning in the 30th year-$3,750 Extra Duty $40 per hour (no student contact, i.e. staff meetings) $50 per hour (with student contact) c. Effective July 1, 2019, Extra Duty Stipends in Section 18.1.7 shall be increased consistent with the attachment. ($1,000 stipends shall be increased to $1,100 and $500 stipends shall be increased to $550). 2. 2023-2024 School Year For the 2023-2024 school year, the parties agree to reopen negotiations regarding total compensation. 3. 2024-2025 School Year For the 2024-2025 school year, the parties agree to reopen negotiations regarding total compensation. 4. Counselors, Resource Specialists (RSP) and Special Day Class (SDC) Teachers Upon submission and approval of a timecard each trimester, the following shall apply: a. Effective July 1, 2019, full time Counselors shall receive an additional one thousand dollars ($1,000) per trimester. b. Effective July 1, 2022, SDC and RSP bargaining unit members shall receive an additional one thousand dollars ($1,000) per trimester. 18.1.1 The District has made the State of California's three "staff development days" part of the standard school year calendar. These "staff development days" shall be treated as regularly scheduled work days subject to all the rights and responsibilities enjoyed by both the District and the bargaining unit members as outlined in statute and the collective bargaining agreement. 18.1.2 Unit members will receive a longevity increment of $1,500.00 commencing with their 15th year of teaching in the Orchard School District. They will receive an additional $2,200.00 longevity increment commencing with their 20th year of teaching in Orchard School District, an additional $3,000.00 longevity increment commen...
Sample 1
Compensation Salary and Benefits. 2.1 For his services hereunder for the period June 27, 2001 through December 31, 2002, Executive shall receive an annual salary of $215,000, payable in regular installments under the payroll policies of the Company. 2.2 For years beginning after December 31, 2002, the level of Executive's salary shall be reviewed by the Board of Directors on an annual basis and upon such review, may remain the same or be increased in such amount as the Board of Directors, in its discretion, based upon merit, determines, provided that there shall be no decrease in the salary of the Executive without his consent. 2.3 In addition to the salary to which Executive is entitled under Section 2.1, Executive shall be entitled to participate in benefit plans, if any, that the Company may offer or establish from time to time for Executives of equal or lesser rank. Participation in benefit plans for the Executive shall terminate if the Company terminates similar benefits for Executives of equal or lessor rank. 2.4 If at any time the Company does not maintain medical and dental insurance coverage for all Executives, the Company shall reimburse the Executive for securing private coverage during the term of this Agreement. 2.5 All salary and benefits, if any, shall be subject to the customary withholding of taxes as required by law. Except as otherwise provided in Section 8 hereof, Executive’s salary and benefits end immediately upon the termination of employment.
Sample 1
Compensation Salary and Benefits. 5.1 The Superintendent shall be paid a salary per annum in the sum of $175,000.00 to be paid in twelve (12) equal installments. At any time during the term of this Contract, the Board may, in its discretion, review and adjust the salary of the Superintendent, but in no event shall the Superintendent be paid less than the current salary except by mutual agreement of the parties. All adjustments, if any, shall be in the form of a written addendum to this Contract or a new contract. The requirements of a mutual agreement or a written addendum m· new contract are not applicable if a reduction in salary is made pursuant to and in accordance with the provisions of either Section 21.4021 or 21.4032 of the Texas Education Code. 5.2 The District shall make contributions towards the premiums for medical insurance coverage for the Superintendent pursuant to the group healthcare plan provided by the District to the same extent as it does for other full-time District employees. The Board reserves the right to increase or decrease these benefits during the term of the Contract at the Board’s sole discretion. 5.3 The Superintendent shall be entitled to the same holidays, sick leave, and personal leave time permitted other District administrative personnel employed under a twelve-month professional employment contracts. The Superintendent will schedule leave days with prior written approval of the Board President and at times that will least interfere with the performance of the Superintendent's duties. 5.4 The District shall pay $100.00 per month to the Superintendent for cell phone expense for a total of $1,200.00 per year. 5.5 The supplemental retirement plan shall be a plan established under Section 403(b) of the Internal Revenue Code (the "Code"). The 403(b) plan shall be established as employer-paid with non-discretionary contributions by the District and the Superintendent shall have no right to receive such contributions by the District and the Superintendent shall have no right to receive such contributions in cash. The 403(b) plan shall be established under a written plan document that meets the requirements of the Code. The grounds for the 403(b) plan shall be invested in a manner mutually agreeable to the Superintendent and the Board in such investment vehicles as arc allowable under the Code for the applicable type of plan. 5.6 The Board shall provide the Superintendent with an automobile allowance in the sum of One thousand two hundred and No/100 Dollars ($1...
Sample 1
AutoNDA by SimpleDocs
Compensation Salary and Benefits. In consideration of his services during the Term (as hereinafter defined) the Employee shall be paid compensation/salary and benefits by the Employer as follows:-
Sample 1
Compensation Salary and Benefits 
Sample 1Sample 2Sample 3See All (11)

Related to Compensation Salary and Benefits

  • Salary and Benefits (a) During the period from the date of delivery of a Termination Notice (the “Notice Date”) until the earlier of (i) the date twelve (12) months after the Notice Date, or (ii) the date the Executive commences employment with another company or organization, it being agreed that the Executive shall immediately notify the Company of such event (the “Severance Period”), and so long as the Executive is in compliance with the terms of this Agreement and any material provision of any other written agreement with the Company, the Company shall (A) pay to the Executive, per normal payroll practice, a salary (the “Severance Period Salary”) at a rate equal, on an annualized basis, to the highest annual salary (excluding any bonuses) in effect with respect to the Executive during the six month period immediately preceding the Termination Notice and (B) provide the Executive with employee benefits, including health insurance, dental insurance, life insurance, participation in the Company’s 401(k) plan and Employee Stock Purchase Plan and short-term and long-term disability coverage, pursuant to the same terms and conditions under which the Company makes such benefits available to employees generally, all subject to the terms and conditions of the respective plans and applicable law (collectively, the “Severance Period Benefits”). (b) In the event that (i) there is a Change in Control (as defined below) of the Company and (ii) within twelve (12) months thereafter, a Change in Status (as defined below) of the Executive occurs, and so long as the Executive is in compliance with the terms of this Agreement and any material provision of any other written agreement with the Company, the Company shall pay the Severance Period Salary and provide the Severance Period Benefits to the Executive during the period from the effective date of the Change in Status until the earlier of (i) the date twelve (12) months after such date or (ii) the date the Executive commences employment with another company or organization, it being agreed that the Executive shall immediately notify the Company of such event. Such compensation and benefits, and those provided under Section 3, shall be in lieu of any other compensation and benefits to the Executive with respect to any continuing employment during such period, and the Company shall have no obligation to make any payments or provide any benefits to the Executive under Section 2(a) above.

  • Compensation and Benefits Subject to the terms and conditions of this Agreement, during the Employment Period, while Executive is employed by the Employer, the Employer shall compensate Executive for Executive’s services as follows for periods following the Effective Date: (a) Executive shall be compensated at an annual rate of $290,000 (the “Annual Base Salary”), which shall be payable in accordance with the Employer’s normal payroll practices as are in effect from time to time. Beginning on January 1, 2012 and on each anniversary of such date, Executive’s rate of Annual Base Salary shall be reviewed by the Compensation Committee (the “Compensation Committee”) of the Board of Directors of the Company (the “Board”), and following such review, the Annual Base Salary may be adjusted upward but in no event will it be decreased. (b) Executive shall be entitled to receive performance based annual incentive bonuses (each, the “Incentive Bonus”) from the Employer for each fiscal year ending during the Employment Period. Any such Incentive Bonus shall be paid to Executive within thirty (30) days of the completion of the annual audit by the Company’s auditor, but in no event later than two and one-half months after the close of each such fiscal year. Executive’s target Incentive Bonus shall be not less than forty percent (40%) of the Annual Base Salary, which Incentive Bonus shall be determined by specific performance criteria established from time to time by the Compensation Committee. (c) Executive shall be eligible to participate, subject to the terms and conditions thereof, in all other incentive plans and programs, including such cash and deferred bonus programs and equity incentive plans as may be in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. Executive and Executive’s dependents, as the case may be, shall be eligible to participate in all pension and similar benefit plans (qualified, non-qualified and supplemental), profit sharing, 401(k), as well as all medical and dental, disability, group and executive life, accidental death and travel accident insurance, and other similar welfare benefit plans and programs of the Employer, subject to the terms and conditions thereof, as in effect from time to time with respect to senior executives employed by the Employer on as favorable a basis as provided to other similarly situated senior executives. (d) Executive shall be entitled to accrue vacation at a rate of no less than four (4) weeks paid vacation for each calendar year, subject to the Employer’s vacation programs and policies as may be in effect during the Employment Period. (e) Executive shall be reimbursed by the Employer, on terms and conditions that are substantially similar to those that apply to other similarly situated executives of the Employer, for reasonable out-of-pocket expenses for entertainment, travel, meals, lodging and similar items which are consistent with the Employer’s expense reimbursement policy and actually incurred by Executive in the promotion of the Employer’s business.

  • Salary and Bonus Awards of stock, stock options, and stock appreciation rights. Use the dollar amount recognized for financial statement reporting purposes with respect to the fiscal year in accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) (FAS 123R), Shared Based Payments.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!