Initial Annual Salary Clause Samples

Initial Annual Salary. Beginning on the Effective Date and continuing throughout the Term of this Agreement until the end of the First Banner Year (as hereinafter defined), Company shall pay Executive, commencing on the Effective Date, an annual salary equal to Fifty Thousand Dollars ($50,000.00), payable in accordance with Company's regular payroll practices. Notwithstanding any language to the contrary in this Section 3(a), Executive acknowledges and agrees that Company shall be entitled to withhold the first One Thousand Dollars ($1,000.00) in salary payable to Executive under this Agreement during the first payroll period after the Effective Date.