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.
Appears in 6 contracts
Samples: Executive Employment Agreement (Xstream Systems Inc), Executive Employment Agreement (Xstream Systems Inc), Executive Employment Agreement (Xstream Systems Inc)
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. If the Board takes no action, the Base Salary shall increase a minimum of ten percent (10%) annually. 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.
Appears in 3 contracts
Samples: Executive Employment Agreement (Genesis Technology Group Inc), Executive Employment Agreement (Genesis Technology Group Inc), Executive Employment Agreement (Genesis Technology Group Inc)
