Increases to Base Salary Sample Clauses

Increases to Base Salary. The Board shall review the Base Salary on not less than an annual basis. The Board, in its sole and absolute discretion, may elect to increase the Base Salary at any time, but shall not ever decrease the Base Salary below its then-current amount. Any increase in the Base Salary shall constitute an amendment to this Agreement solely as to the amount of the Base Salary, without waiver or modification of any other terms or conditions of this Agreement.
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Increases to Base Salary. In the event that any other employee of New Surge or any of its subsidiaries receives a base salary in excess of $200,000.00, the Executive's Base Salary shall be increased commensurately so that his Base Salary remains at all times as high or higher than that received by any other employee of New Surge or its subsidiaries. In addition, promptly following each anniversary of the Effective Time (as defined in the Merger Agreement), provided that Executive has elected to continue his employment for the succeeding year, the compensation committee of New Surge's Board of Directors shall review Executive's Base Salary and implement such increase, if any, as it shall determine is reasonable and appropriate; provided, however, that in the event any other employee of New Surge or any of its subsidiaries has received an increase to his or her base salary during the 12-month period preceding such review of Executive's Base Salary, the amount of the increase to Executive's Base Salary shall equal or exceed the amount of the greatest salary increase received by any such other person."
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Increases to Base Salary. In the event that any other employee of the Company or any of its subsidiaries receives a base salary in excess of $200,000.00, Employee's Base Salary shall be increased commensurately so that his Base Salary remains at all times as high or higher than that received by any other employee of the Company or its subsidiaries. In addition, promptly following each anniversary of the Effective Date during the term of this Agreement, the compensation committee of the Company's Board shall review Employee's Base Salary and implement such increase, if any, as it shall determine is reasonable and appropriate; provided, however, that in the event any other employee of the Company or any of its subsidiaries has received an increase to his or her base salary during the 12-month period preceding such review of Employee's Base Salary, the amount of the increase to Employee's Base Salary shall equal or exceed the amount of the greatest salary increase received by any such other person.
Sample 1
Increases to Base Salary. Executive’s Base Salary will increase upon certain events as described below. Notwithstanding the foregoing, Executive may be entitled to an increase in Base Salary from time to time as determined by the Managing Member. For the purposes of this Agreement, “Target Business Under Management” shall mean lines, classes, categories or programs of property and casualty business, identified solely by the Managing Member, and measured by gross written premium produced or underwritten by a subsidiary of the Company. Business written by United Casualty and Surety Insurance Company (“UC&S”) from another subsidiary of the Company shall only be counted once. For the avoidance of doubt, non-targeted business classes, as defined solely by the Managing Member, placed by a subsidiary of the Company with other carriers, apart from the amount of target business written by such subsidiary of the Company, shall not be included in Target Business Under Management.
Sample 1

Related to Increases to Base Salary

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Base Salary The Company shall pay to the Executive an annual base salary of $200,000, payable on a monthly basis commencing on the Effective Date (as the same may be adjusted herein, the “Base Salary”). The Base Salary shall be paid in accordance with the Company’s payroll policies.

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $550,000 per annum (as increased from time to time, the “Annual Base Salary”), which shall be paid in accordance with the customary payroll practices of the Company. Such Annual Base Salary shall be reviewed (and may be increased, but not decreased) from time to time by the Board or an authorized committee of the Board.

  • Salary No salary will be paid to a Member for the performance of his or her duties under this Agreement unless the salary has been approved in writing by a Majority of the Members.

  • 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 Increases The Employer agrees to pay the negotiated salary increases to every employee not later than the month following the month in which this Agreement is signed and not later than the month following the month in which any subsequent salary increases become effective.

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Base Salary and Benefits (a) During the Employment Period, the Company shall pay Executive an annual base salary of $535,600 (the “Base Salary”). As used herein, references to “Base Salary” shall include all subsequent increases in annual base salary during the Employment Period. The Base Salary shall be payable in regular installments in accordance with the Company’s general payroll practices (as in effect from time to time). (b) In addition to the Base Salary, during the Employment Period, Executive will be eligible to earn an annual bonus under a bonus plan to be established by the Company, payable in accordance with the Company’s customary practices, as determined by the Board, in its sole discretion based upon the Company’s achievement of budgetary and other objectives set by the Board; provided that, in determining the amount of the annual bonus, if any, to be paid to Executive, the Board shall, in determining whether the Company has achieved the budgetary and other goals set by the Board, disregard any payments by the Company and its subsidiaries to Onex (as defined below) and affiliates. (c) During the Employment Period, Executive shall be entitled to participate in all of the Company’s employee benefit programs for which senior executives of the Company and its subsidiaries are generally eligible. Without duplication of any employee benefits provided to all senior executives of the Company and its subsidiaries, the Company shall reimburse Executive for the annual premium cost of $1 million of term life insurance coverage purchased by Executive on his life, up to a maximum of Eleven Thousand Dollars ($11,000) per year. (d) During the Employment Period, the Company shall (without duplication of any employee benefits provided to Executive pursuant to other provisions of this Agreement) reimburse Executive for all reasonable business expenses incurred by him in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. (e) All amounts payable or otherwise provided to Executive pursuant to this Agreement shall be subject to all applicable withholding and deduction obligations.

  • Monthly Salary The words “monthly salary” when used in this Agreement shall mean: (Bi-weekly pay at regular rate of pay times 26.1) divided by 12 = monthly salary

  • Salary Increase Effective December 1, 2015, salary rates shall be increased by 2.25%.

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