FIRST YEAR COMPENSATION Sample Clauses

FIRST YEAR COMPENSATION. If Matching or Non-Matching Contributions will be made, for purposes of determining the Compensation on the basis of which such contributions will be allocated for a Participant’s first year of participation, the Participant’s Compensation shall be the Participant's Compensation for the period commencing as of the first day the Employee became a Participant.
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FIRST YEAR COMPENSATION. In consideration for all services rendered by Executive under this Agreement during the first year of the Term, the Company shall not pay Executive any cash compensation but shall provide annual compensation in the form of stock options ("Base Compensation") as follows: the Company shall issue to Executive Stock Options ("Stock Options") exercisable into one million (1,000,000) shares of Common Stock of the Company pursuant to the terms of the 2010 Sun River Energy, Inc. Stock Option and Award Incentive Plan, as amended (the "Stock Plan"). The Stock Options shall be issued to Executive on the Effective Date and shall be earned and vest 1/36th each month thereafter (each a "Vesting Date") during the Term. The exercise price of the Stock Options shall equal the average fair market value of a share of the Company's common stock on the Effective Date of the PSA is between the Parties. Finally, the Company shall cause Common Stock obtained through the Stock Options to be registered pursuant to the terms of the Stock Plan on Form S-8.
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FIRST YEAR COMPENSATION. (Check Box 1 OR Box 2.) 1. [ ] as of the first day of the Plan Year or calendar year (whichever was selected under Section J above). 2. [X] as of the first day the Employee became a Participant.
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FIRST YEAR COMPENSATION. A fee for the first contract year equal to 6.7% of any purchase payment made under such contract during the first contract year where the Annuitant or Contractowner (other than a trustee of a qualified plan) is less than age 81 on the date the Diversifier II contract is issued.
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FIRST YEAR COMPENSATION. In the event on the one (1) year anniversary of your start date, the aggregate amount of (i) the amount of your annual salary, (ii) the signing bonus set forth in Section 3.2 above, (iii) the value of 10,000 shares of restricted stock which becomes unrestricted on such date as set forth in Section 3.3 above, and (iv) any other discretionary compensation or bonuses which may have been paid to You by Acacia as of such date, does not equal an aggregate of Four Hundred Thousand Dollars ($400,000), Acacia shall pay you the amount of any such deficit within thirty (30) days of such date.
Sample 1
FIRST YEAR COMPENSATION. For the first year, the sum of ($ ) Dollars. Sum includes compensation in full for compulsory aspect, value of applicable land, damages and first year annual compensation as described in paragraph (b). First year compensation shall be paid to the Grantor by the Grantee prior to the entry upon the Demised Premises for any and all purposes set forth above, other than for survey and assessment purposes.
Sample 1
FIRST YEAR COMPENSATION. The Company will pay to the Employee cash compensation of no less than $187,500 (including a bonus of $62,500) during the first twelve months of employment. If the Employee is terminated during the first twelve months of employment for any reason, other than those set forth in Section 4(d) and 6 of this Agreement, Employee will receive a pro rata share of this amount. In the event of the Employee's death, payment of the pro rat amount will be made to Employee's primary beneficiary.
Sample 1
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FIRST YEAR COMPENSATION. We will pay first year commissions according to the Elected Option on received premium up to and including the target premium amount. The rates for each of the options are set forth above (“Compensation Options Table – Target Premium”).
Sample 1
FIRST YEAR COMPENSATION. We will pay first year commissions of 50% on received premium up to and including the target premium amount.
Sample 1

Related to FIRST YEAR COMPENSATION

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Annual Compensation The Executive's "Annual Compensation" for purposes of this Agreement shall be deemed to mean the highest level of base salary paid to the Executive by the Employers or any subsidiary thereof during any of the three calendar years ending during the calendar year in which the Date of Termination occurs.

  • Base Compensation The Bank agrees to pay the Employee during the ----------------- term of this Agreement a salary at the rate of $76,000 per annum, payable in cash not less frequently than monthly; provided, that the rate of such salary shall be reviewed by the Board of Directors of the Bank not less often than annually, and Employee shall be entitled to receive annually an increase at such percentage or in such an amount as the Board of Directors in its sole discretion may decide.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Full Compensation Subrecipient agrees to accept the specified compensation as set forth in this Contract as full remuneration for performing all services and furnishing all staffing and materials required, for any reasonably unforeseen difficulties which may arise or be encountered in the execution of the services until acceptance, for risks connected with the services, and for performance by the Subrecipient of all its duties and obligations hereunder.

  • Extra Compensation The Board shall pay no fees, other than described above, to the PA/E unless authorized by the Board as follows: A. If the scope of the Project or site is changed, the Board and the PA/E shall negotiate a reasonable fee based upon the probable estimated construction cost in changing the scope of the work and the approximate percentage of the estimated construction cost which was used to negotiate this Agreement if, and, as such may be applicable. B. If the DOE or Board requires the PA/E to make major or costly changes to the Schematic, Preliminary or Construction Document Phase submittals, which changes are not caused by architectural or engineering error or oversight, the PA/E shall be paid to redesign for additional expenses in an amount agreed to by the parties. Under no circumstances will the principals of the PA/E and the principals of his consultants be paid a fee in excess of $125.00 per hour.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

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