ELEMENTS OF COMPENSATION. Compensation for the Services will be comprised of the following elements: 1.1 Direct Labor Costs; 1.2 Fixed Fee; and 1.3 Additional Direct Costs.
ELEMENTS OF COMPENSATION. 11 Compensation for the services provided will be comprised of the following elements: DIRECT LABOR COSTS, 12 FEES, OTHER DIRECT COSTS and OUTSIDE SERVICES.
ELEMENTS OF COMPENSATION. Compensation for the Services will be comprised of the following elements: 1.1 Direct Labor Costs; 1.2 Fixed Fee; and 1.3 Additional Direct Costs. Direct Labor Costs. Direct Labor costs shall be paid in an amount equal to the product of the Direct Salary Costs and the Multiplier which are defined as follows: Direct Salary Costs Direct Salary Costs are the base salaries and wages actually paid to the Contractor's personnel directly engaged in performance of the Services under the Agreement. (The range of hourly rates paid to the Contractor's personnel appears in Section 2 below.)
ELEMENTS OF COMPENSATION. For the satisfactory performance and completion of the Services under this Agreement, the Commission will pay the Contractor compensation as set forth herein. The total compensation for this service shall not exceed ( INSERT WRITTEN DOLLAR AMOUNT ) ($ INSERT NUMERICAL DOLLAR AMOUNT ) without written approval of the Commission’s Executive Director (“Total Compensation”).
ELEMENTS OF COMPENSATION. In fiscal 2013, we compensated our named executive officers through a combination of base salary, annual cash incentives, long term equity incentives in the form of stock options and other benefits as described below.
ELEMENTS OF COMPENSATION. In fiscal 2014, we compensated our named executive officers through a combination of base salary, annual cash incentive opportunities and other benefits as described below. Our named executive officers also continued to hold stock options granted in previous years. Base Salary The base salaries for fiscal 2014 for our named executive officers other than Xx. Xxxxxx were originally determined pursuant to the terms of an employment agreement we entered into with each of them, as described below.
ELEMENTS OF COMPENSATION. In fiscal 2015, we compensated our named executive officers through a combination of base salary, annual cash incentive opportunities and other benefits as described below. As a Swedish resident, Xx. xxx Xxxxxxx was compensated pursuant to the compensation program applicable to our Swedish employees. Our named executive officers, other than Xx. xxx Xxxxxxx, also continued to hold stock options granted in previous years. Base Salary The base salaries for fiscal 2015 for our named executive officers other than Xx. Xxxxxx were originally determined pursuant to the terms of an employment agreement we entered into with each of them, as described below.
ELEMENTS OF COMPENSATION. The principal components of compensation for WMIH’s named executive officers are: • base salary; • discretionary cash bonuses; and • equity-based incentive compensation. The cash compensation in the form of base salaries compensates the named executive officers for services rendered in fulfilling day-to-day roles and responsibilities needed to run the business as it currently exists. The amount of cash compensation for named executive officers was determined for each based on position, responsibility, and experience (including, in the case of Xx. Xxxxx, familiarity with WMIH’s past and current operations). The WMIH compensation committee did not conduct a specific analysis of compensation of executives at peer companies in setting the base salaries for the named executive officers; however, based on the experience and general industry knowledge of the WMIH board of directors members and the WMIH compensation committee members, the WMIH compensation committee determined that the cash compensation level was appropriate under WMIH’s circumstances. In addition to their base salaries, each of WMIH’s named executive officers is eligible to receive discretionary cash bonuses from time to time as determined by the WMIH compensation committee in its sole discretion. The WMIH compensation committee did not elect to pay bonuses in respect of 2017. Restricted stock awards were issued to Messrs. Xxxxxxxxx and Xxxxxxxxx in 2015 in order to incentivize them to assist WMIH in implementing its acquisition strategy. Pursuant to their employment agreements, as described below, each of Messrs. Xxxxxxxxx and Fairfield have been granted equity-based compensation in the form of restricted stock, as described below. No grants of equity-based compensation were made in 2017. 2018 Compensation Actions On March 9, 2018, WMIH entered into the Amendment of the Xxxxxxxxx employment agreement (as defined below) (which we refer to as the “Xxxxxxxxx Amendment”) and the Amendment of the Fairfield employment agreement (as defined below) (which we refer to as the “Fairfield Amendment” and, together with the Xxxxxxxxx Amendment, which we refer to as the “Amendments”). The Amendments, which were approved by the WMIH board of directors and its compensation committee, amend each of the Xxxxxxxxx employment agreement and the Fairfield employment agreement, by extending the terms of each of Xx. Xxxxxxxxx’x and Xx. Xxxxxxxxx’x employment with WMIH until the earlier of (a) the closing date of the mer...
