GUARANTEED MINIMUM ANNUAL COMPENSATION. For each of the Fiscal Years ending during the term of this Agreement, Officer shall receive a guaranteed minimum annual cash compensation equal to 125% of the base salary, the components of which shall include his base salary for such Fiscal Year and any incentive compensation award applicable to such Fiscal Year, provided Officer is still employed by Employer as of March 31 of the following Fiscal Year.
Appears in 12 contracts
Samples: Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc), Employment Agreement (Indymac Bancorp Inc)
GUARANTEED MINIMUM ANNUAL COMPENSATION. For each of the Fiscal Years ending during the term of this Agreement, Officer shall receive a guaranteed minimum annual cash compensation equal to 125% of the base salary$500,000, the components of which shall include his base salary for such Fiscal Year and any incentive compensation award applicable to such Fiscal Year, provided Officer is still employed by Employer as of March December 31 of the following such Fiscal Year.
Appears in 1 contract
Samples: Employment Agreement (Indymac Mortgage Holdings Inc)
