EMPLOYMENT AND SALARY Sample Clauses

EMPLOYMENT AND SALARY. A. During the Employment Term, the Company shall employ the Executive and the Executive shall serve in the employ of the Company at a continuing salary of Two Hundred Seventy-Five Thousand Dollars ($275,000.00) per year, subject to increases as provided below (the "Annual Base Salary"), payable in accordance with the Company's payroll policies applicable to executives as established by the Company from time to time. The Board of Directors shall review and in its sole discretion may increase Executive's Annual Base Salary annually commencing for 2000. Once established at a specified increased rate, the Annual Base Salary shall not thereafter be reduced. B. During the Employment Term, the Executive shall also be entitled to be paid an incentive bonus in an amount, if any, as shall be determined by the Board of Directors (or the Compensation Committee thereof) in its sole discretion. The incentive bonus, if any, shall be paid prior to the close of business on April 15 of each year. Except for termination by reason of death or disability or termination WITHOUT CAUSE, the incentive bonus shall not be earned in whole or in part, until the close of business on December 31 of each year ("Bonus Entitlement Date") and shall be paid annually prior of the close of business on April 15 following the Bonus Entitlement Date. Termination for Cause pursuant to paragraph 2D or voluntary termination pursuant to paragraph 2E shall terminate the right of the Executive to receive any incentive bonus under this paragraph 3B that has not yet been earned; provided that any termination of employment after the incentive bonus has been earned, but prior to its payment, shall not terminate the Executive's right to receive such incentive bonus. C. The Executive shall receive such further benefits as may be accorded other executives under the established plans and programs of the Company to the extent the executive is eligible for participation therein based on the eligibility criteria applicable to other Executives, all as determined by the Company from time to time in its sole discretion. D. The Executive shall be entitled to receive reimbursement for, or seek payment directly by the Company of, all reasonable expenses incurred by the Executive in the performance of his duties under this Agreement. The Executive shall use his best efforts to obtain approval prior to incurring any expenses. Unreasonable expenses or expenses out of the ordinary course of business not approved in advance...
Sample 1See All (5)
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EMPLOYMENT AND SALARY. (1) Every employee shall be monthly rated and shall be paid on a monthly rated basis. (2) The minimum and maximum salary with effect from 1st January 2016 for each category of confirmed employees shall be as set out in Appendix II to this Agreement. (3) An employee whose starting salary as at 1st January 2016, is less than the agreed starting salary appropriate to his category shall with effect from 1st January 2016 have his salary adjusted to the said starting salary accordingly. (4) The date of Annual Increment to every eligible employee shall be 1st January of each year. (5) For the year 2016, every confirmed employee as at 31st December 2015 shall be paid: (a) An Annual Variable Component (AVC) based on the performance of the Hotel as per the Memorandum of Understanding (MOU) on Wage Restructuring to be signed between the Hotel and the Union on an annual basis as well as the employee’s work performance, in respect of his continuous employment with the Hotel for the whole of 2015 or a proportionate amount in respect of employees having less than 12 months’ service as at 31st December 2015. (b) An Annual Increment of 4% of the basic salary. (6) For the year 2017 and 2018, (a) the AVC will be in accordance with the MOU as reviewed and agreed upon between the Hotel and the Union. (b) The Annual Increment is to be negotiated between the Hotel and the Union commencing 3 months before the expiry of the current Annual Increment. (7) With effect from 2001, the Hotel’s Flexi-Wage Scheme shall incorporate the Base-up Wage System and the Monthly Variable Component (MVC). (8) The Hotel and the Union agree to a MVC model as per the MOU on Wage Restructuring to be signed between the Hotel and the Union on an annual basis. (a) The MVC may be adjusted downwards in the event of a national economic crisis or a severe financial situation in Hotel’s operations, as per the MOU on Wage Restructuring to be signed between the Hotel and the Union on an annual basis. (b) Where the MVC has been adjusted downwards pursuant to paragraph (a) above, the same shall be restored in accordance with the prevailing economic conditions or financial performance of the Hotel, as per the MOU on Wage Restructuring to be signed between the Hotel and the Union on an annual basis. (c) As of 2016, the MVC is 10% of basic salary. (9) The Base-up Wage System shall consist of a Service Increment (SI) and the Base-up Increment (BU). (10) Where an employee’s salary is at the maximum of the salary range ...
Sample 1
EMPLOYMENT AND SALARY. (1) Every employee shall be monthly rated with the exception of part time/temporary employees. (2) The minimum and maximum salaries of each category or grade for employees shall be as set out in Appendix II to this Agreement. (3) The rate of annual increment shall be negotiated on a yearly basis. (4) Every confirmed employee as at 31 March shall be granted his annual increment on 1st July of the year. (5) Employee with less than one year's service shall receive pro- rated annual increment. To ensure that no one is denied annual increment for the period they had served, the annual increment eligibility cut-off date to calculate incomplete service would be 30 June of the year in which the annual increment is due. (6) The Catering and Union agree to build up to 10% of the total wage as the monthly variable component (MVC). The Catering and Union will discuss the criteria for reduction and rebuilding the MVC based on the guidelines of NWC when the situation arises. (7) The MVC shall be treated as part of the basic salary for compensation of rates of pay including calculation and payment for overtime, annual wage supplement, any form of bonus, salary in lieu of annual leave or any other such payment. (8) For newly recruited employees, where existing employees have already built up the MVC, the Catering will calibrate the MVC into their starting salary.
Sample 1
EMPLOYMENT AND SALARY. Commencing on the date hereof and continuing through the End Date (as hereinafter defined), Waterford shall pay to Len on a monthly, W-2 basis, $250,000 annually, reduced by amounts Len receives as salary from TCA pursuant to the Sun Letter Agreement during the applicable period. Len shall continue to perform management services for TCA in respect of the Casino until such time as he ceases receiving any such salary amounts from TCA pursuant to the Sun Letter Agreement.
Sample 1
EMPLOYMENT AND SALARY. A. As applies to teachers: 1. Teachers shall be notified of their contract status for the ensuing year in accordance with N.J.S.A. 18A:27-10. 2. The salary of each teacher covered by this Agreement will be as set forth in Schedule A as attached hereto and made a part hereof. 3. Any teacher employed on or before December 1st in any school year and not on extended leave of absence as provided in Article XVI hereof shall be eligible to receive a year's incremental credit on the salary guide. 4. All newly employed teachers will be placed on the salary schedule step according to the paragraphs below. The content of these paragraphs is subject to the step movement notes contained on Schedule A attached hereto and made a part hereof. The determination for salary to be recommended to the Board of Education for approval shall be made by the Superintendent. When a teacher is placed on the guide at a step higher than his/her experience, the Superintendent will notify the President of the Association. 5. One year of public school teaching experience may be equivalent to one year creditable experience on the salary schedule. In addition, a teacher may be entitled to up to four (4) years credit on the salary schedule for military service in accordance with N.J.S.A. 18A:29-11. In the event a teacher has industrial experience, one year industrial experience may be equivalent to one year creditable experience on the salary schedule. Industrial experience must be substantiated in writing to the satisfaction of the Superintendent. 6. Teachers eligible for column movement on the salary guide shall receive salary increases when all requirements for the degree have been completed. The increase shall be effective the first pay period February 1st or July 1st following written notice from the registrar of the college or university attended of said completion being received by the Superintendent. (The check for same shall reflect such increases upon computation and programming by the Business Office.) 7. All certificated teaching positions involving summer employment shall be advertised by posting a notice in each school and forwarding the same notice to the Association on or before May 15th of the school year whenever possible, or a date as close to the employment as possible. 8. When a pay day falls on or during a school holiday, vacation, or weekend, teachers shall receive their pay checks on the last previous working day. 9. Each teacher shall receive his final pay of each aca...
Sample 1
EMPLOYMENT AND SALARY. (a) As of the date hereof, Executive shall be employed as Senior Vice President of Marketing for the Company. In such capacity, the Executive shall render on a full-time basis marketing services ("services") to the Company of the type customarily performed by persons serving in a similar executive officer capacity and shall report to the Chief Executive Officer of the Company. In devoting his full-time and undivided attention during normal business hours to the foregoing responsibilities, Executive shall be permanently located in DII's New York office. During the term of this Agreement, there shall be no material increase or decrease in the duties and responsibilities of the Executive otherwise than as provided herein, unless the parties otherwise agree in writing. (b) The Company agrees to pay the Executive during the term of this Agreement an annual salary of $325,000 with such salary to be increased from time to time as determined by the Company's Chief Executive Officer and approved by the Company's Board of Directors. The salary of the Executive shall not be decreased at any time during the term of this Agreement from the amount then in effect, unless the Executive otherwise agrees in writing. The salary under this Paragraph 2 shall be payable by the Company to the Executive in equal installments during each month pursuant to the Company's standard pay practices.
Sample 1
EMPLOYMENT AND SALARY 
Sample 1
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Related to EMPLOYMENT AND SALARY

  • Employment and Compensation The following terms and conditions will govern the Executive’s employment with the Company throughout the Term.

  • Employment Period Compensation In consideration of the other provisions of this Agreement, and the Executive’s agreement to execute a Release Agreement, substantially in the form attached hereto as Exhibit B, in the event of his termination under relevant circumstances pursuant to which he would be paid severance benefits, ESC shall provide the Executive with the following payments and benefits, both those set forth in this section and elsewhere in this Agreement:

  • Re-employment An employee who resigns their position and within 90 days is re-employed, will be granted a leave of absence without pay covering those days absent and will retain all previous rights in relation to seniority and benefits subject to any benefit plan eligibility requirements.

  • TYPES OF EMPLOYMENT AND TERMINATION OF EMPLOYMENT 15 General 16 Employees on Daily Hire 17 Casual Employees 18 Employer and Employee Duties 19 Apprentices 20 Sham Contracting 21 Termination of Employment 22 Redundancy 23 Payment of Wages and Time Records 24 Superannuation 25 Insurance 26 Insurance – Minimum Cover / Minimum Benefits 27 Insurance – Employer Liability 28 Accident Makeup Pay 29 Compensation of Tools of Trade and Clothes 30 Application of Site Agreements / Inductions and off the job training / Local Labour – Visa Requirements 31 Hours of Work 32 Presenting for Work but Not Required 33 Overtime 34 Call Back

  • Employment Benefits In addition to the Salary payable to the Executive hereunder, the Executive shall be entitled to the following benefits:

  • EMPLOYMENT TERM AND COMPENSATION A. The Board hereby employs the Employee for a salary of $6,769 per bi-weekly pay period ($175,997/Annualized), payable in installments less any legally authorized deductions as the D71, Director, Application Development. B. The term of this contract shall commence on 7/1/2024 and terminate on 6/30/2025. C. The Board shall designate eight and one-half (8.5) percent of Employee’s SURS-eligible earnings as the Board contribution on behalf of the Employee in satisfaction of the Employee's required contribution to the Illinois State Universities Retirement System. The purpose of this section is to allow such Board contribution for retirement to be tax sheltered after the qualifying period of time has been met and to the extent allowed by the appropriate statutes and regulations. Both parties acknowledge that the Employee did not have the option of choosing to receive the contributed amounts directly, instead of having such contributions paid by the Board to the State Retirement System, and that such contributions are made as a condition of employment to secure the Employee's future services, knowledge and experience.

  • Period of Employment The “Period of Employment” shall be a period of three (3) years commencing on the Employment Commencement Date and ending at the close of business on the third (3rd) anniversary of the Employment Commencement Date (the “Termination Date”); provided, however, that this Agreement shall be automatically renewed, and the Period of Employment shall be automatically extended for one (1) additional year on the Termination Date and each anniversary of the Termination Date thereafter, unless either party gives notice, in writing, at least thirty (30) days prior to the expiration of this Agreement and the Period of Employment (including any renewal thereof) of such party’s desire to terminate the Agreement or modify its terms. The term “Period of Employment” shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Constructive Termination” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Term of Employment and Termination The Company and Executive acknowledge that Executive's employment is and shall continue to be at-will, as defined under applicable law, and that Executive's employment with the Company may be terminated by either Party at any time for any or no reason (subject to the notice requirements of this Section 4). This "at-will" nature of Executive's employment shall remain unchanged during Executive's tenure as an employee and may not be changed, except in an express writing signed by Executive and a duly authorized officer of the Company. The term of this Agreement and Executive’s employment hereunder shall commence on the Effective Date and continue until terminated as set forth in this Section 4. The date on which Executive’s employment terminates, as determined by the Company, regardless of the reason, shall be referred to herein as the “Separation Date.” Upon termination of Executive's employment for any reason, Executive shall be deemed to have resigned from all offices and directorships, if any, then held with the Company or any of its subsidiaries.

  • Termination of Employment and Severance Benefits The Executive’s employment hereunder shall terminate under the following circumstances:

  • Part-Time Employment Monthly compensation for part-time employment will be pro-rated based on the ratio of hours worked to hours required for full-time employment. In the alternative, part-time employees may be paid the appropriate hourly rate for all hours worked.

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