COMPENSATION TO EMPLOYEE. For and in complete consideration of Employee’s full and faithful performance of Employee’s duties under this Agreement, Employer hereby covenants and agrees to pay to Employee, and Employee hereby covenants and agrees to accept from Employer, the following items of compensation:
COMPENSATION TO EMPLOYEE. For and in complete consideration for Employee’s full and faithful performance of his duties under this Agreement, Unitek hereby covenants and agrees to pay to Employee, and Employee hereby covenants and agrees to accept from Unitek, the following items of compensation:
COMPENSATION TO EMPLOYEE. 6 (a) Base Salary..........................................6
COMPENSATION TO EMPLOYEE. During the Term of this Agreement, the Company shall pay to Employee compensation (the “Compensation”) consisting of:
COMPENSATION TO EMPLOYEE. In order to induce Employee to accept the offer of employment subject to the express terms and conditions set forth herein, Veritec hereby promises, covenants, warrants and agrees to pay Employee the following forms and amounts of compensation:
COMPENSATION TO EMPLOYEE. During the term of this Agreement, the Company shall pay to Employee compensation ("the Compensation") consisting of:
(i) a salary equal to $125,600 per annum, payable on such basis as is the normal payment pattern of the Company, not to be less frequently than monthly;
(ii) a discretionary bonus to be determined by the Company in its sole and absolute discretion which if awarded may be up to 40% of base salary ($50,000) based on Company's determination in its sole and absolute discretion of its achievement of profit goals. In determining whether any bonus shall be paid and the amount thereof, Company may examine a number of factors including, without limitation, employee achievement of the following:
a. To what extent did Employee provide Company Management with proactive and timely advise to enhance and further Company's business transactions and successes.
b. To what extent did Employee provide accurate, timely and appropriate financial reports to Management, Board of Directors and Public.
c. To what extent did Employee provide financial statements with analysis and action plan to CEO by the 15th of the following month.
d. To what extent did Employee manage accounting for capital expenditures and K-W owned properties.
e. To what extent did Employee manage bank relationships.
f. To what extent did Employee provide financial analysis, direction and control to guide the Company in meeting profit goals. Employee acknowledges that Company has not provided Employee with any projections or estimates of Net Profit or Net Revenue that might be received by Employee under the terms of this Agreement as an inducement to Employee to accept employment with Company.
COMPENSATION TO EMPLOYEE. Employer shall have no obligation to make any payment to Employee pursuant to the terms of this Agreement unless and until the following condition is satisfied: the Effective Date of this Agreement must occur on or before November 4, 2016.
COMPENSATION TO EMPLOYEE. During the Term, the Company shall pay to Employee compensation, subject to such deductions and withholdings as Company may from time to time be required to make pursuant to applicable law, governmental regulation or order (the "Compensation") and Employee agrees to accept such Compensation as payment in full for all services rendered by him to or for the benefit of the Companies in any capacity, as provided in this Section 5.
(a) Employee shall be paid an annual salary equal to $225,000 per annum, payable on such basis as is the normal pay-
COMPENSATION TO EMPLOYEE. Section 5(a) of the Agreement is hereby amended and restated in its entirety as follows:
COMPENSATION TO EMPLOYEE. Employee shall receive compensation at his current level until February 5, 2002 and shall be eligible to receive his full bonus for 2001 in accordance with the Employer's regular compensation practices. Employer agrees to continue compensating Employee for the period from February 6, 2002 to February 5, 2005 at a total annual compensation rate of $350,000, payable bi-weekly, less the reimbursement for any benefits pursuant to Paragraph 3 below, all subject to normal withholding taxes. Employee shall not be eligible to receive bonus or other compensation with respect to the period after February 5, 2002. Should Employee die prior to February 5, 2005, his widow, or his estate, should his spouse pre-decease Employee, or his widow's estate if she dies after Employee, shall receive any remaining compensation outlined in this Paragraph 2. Except as set forth herein, Employee shall not be entitled to any additional compensation from Employer.
