Minimum Annual Compensation. The parties acknowledge that as of the Effective Date of this Amendment, the Employee’s Minimum Annual Compensation is Two Hundred Thirty Two Thousand Three Hundred Ninety Nine Dollars ($232,399).
Minimum Annual Compensation. The Company shall pay to Executive for the services to be rendered hereunder a base salary at an annual rate of Sixty Thousand and 00/100 Dollars ($60,000.00) (the “Minimum Annual Compensation”). There shall be an annual review for merit by the Board and an increase as deemed appropriate to reflect the value of services by Executive. At no time during the Term of this Agreement shall Executive's annual base salary fall below the Minimum Annual Compensation. In addition, if the Board increases the Minimum Annual Compensation at any time during the Term of this Agreement, such increased Minimum Annual Compensation shall become a floor below which Executive's compensation shall not fall at any future time during the Term of this Agreement and shall become Minimum Annual Compensation. Executive's salary shall be payable in periodic installments in accordance with the Company’s usual practice for Executives of the Company.
Minimum Annual Compensation. The Company shall pay to Employee for the services to be rendered herein a base salary at the initial annual rate of Two Hundred Fifty Thousand ($250,000.00) Dollars (“Minimum Annual Compensation”) effective as of the date hereof, which base salary shall be subject to annual review and increase to be determined by the Compensation Committee of the Board. Employee’s salary shall be payable bi-weekly.
Minimum Annual Compensation. For their services to the Company during the Term, the Company shall pay Executive an annual salary (“Salary”) at the rate of $150,000 per annum, commencing on the date of this Agreement. The Executive’s Salary shall be reviewed at least annually by the compensation committee of the Board and may be increased (but not decreased) in the sole discretion of the compensation committee. All Salary payments shall be payable in such installments as the Company regularly pays its executive officers, but not less frequently than monthly. If the Company does not have a compensation committee, all references in this Agreement to the compensation committee shall be deemed to refer to the Board without the participation or attendance by the Executive unless such participation is required in order that there be a quorum.
3.1.1. The Minimum Annual Compensation will be increased by a minimum of 4% per year on the first (1st) anniversary of the Effective Date, and on each subsequent annual anniversary of the effective date thereafter.
3.1.2. Employee’s Minimum Annual Compensation will increase to $250,000 per annum, commencing immediately upon the Company reaching private or public funding of at least $3,000,000 as long as the Executive remains in his current position with the Company and in good standing.
Minimum Annual Compensation. (a) The aggregate amount of the compensation paid to you under this agreement shall not be less than the "Designated Dollar Amount" (as defined below) per Fiscal Year. "Fiscal Year", in this paragraph, means the annual period beginning on the date of commencement of the Term, and each subsequent annual period through the seventh such annual period, during the Term.
Minimum Annual Compensation. For their services to the Company during the Term, the Company shall pay Executive an annual salary (“Salary”) at the rate of $138,000 per annum, commencing on the effective date of this Agreement. Executive’s Salary shall be payable in periodic installments in accordance with the Company’s usual payroll practices. The Executive’s Salary shall be reviewed at least annually by the compensation committee of the Board and may be changed in the sole discretion of the compensation committee. All Salary payments shall be payable in such installments as the Company regularly pays its executive officers, but not less frequently than monthly. If the Company does not have a compensation committee, all references in this Agreement to the compensation committee shall be deemed to refer to the Board without the participation or attendance by the Executive unless such participation is required in order that there be a quorum.
3.1.1. The Minimum Annual Compensation will be increased by a minimum of 2% per year on the first (1st) anniversary of the Effective Date, and on each subsequent annual anniversary of the effective date thereafter.
3.1.2. Upon successful completion of Kindly corporate fundraising of at least 6 million US dollars, the Minimum Annual Compensation will be increased to $224,000 per annum, effective on the first day of the month following the fundraising milestone of 6 million US dollars completion and upon approval by the Compensation Committee.
Minimum Annual Compensation. The Company shall pay to Executive for the services to be rendered hereunder a base salary at an annual rate of One hundred twenty thousand dollars ($120,000) (the "Annual Minimum Salary") and a guaranteed bonus of Sixty thousand dollars($ 60,000) which shall become due and payable in two (2) installments of Thirty thousand dollars ($30,000.00) each on June 30, 2011 and December 31, 2011 (the "Minimum Annual Compensation"). The above not withstanding the compensation for the month of February will be reduced by $ 5,000. There shall be a six month review for merit by the Board. At no time during the term of this Agreement shall Executive's annual base salary fall below the Minimum Annual Compensation. In addition, if the Board increases the Minimum Annual Compensation at any time during the term of this Agreement, such increased Minimum Annual Compensation shall become a floor below which Executive's compensation shall not fall at any future time during the term of this Agreement and shall become Minimum Annual Compensation. Executive's salary shall be payable in periodic installments in accordance with the Company's usual practice for Executives of the Company.
Minimum Annual Compensation. The Company shall pay to Employee for the services to be rendered herein a base salary at the annual rate of Two Hundred Seventy Five Thousand ($275,000.00) Dollars (“Minimum Annual Compensation”), which base salary shall be subject to annual review and increase to be determined by the Compensation Committee of the Board. Employee’s salary shall be payable bi-weekly. For fiscal years beginning 2007 and thereafter, the Board shall examine and modify Executive’s base salary with reference to prevailing competitive standards for comparable positions in organizations similar to the Company, as determined by an independent consultant approved by the Board and Executive.
Minimum Annual Compensation. The Sales Executive's annual compensation may include (i) an annual base salary and (ii) commission and/or bonus plans. All elements of the Sales Executive's annual compensation are subject to adjustment and/or elimination based on sales compensation strategies developed from time to time by the Corporation. However, the Sales Executive shall receive a minimum annual compensation of $225,000.00 (the "Minimum Annual Compensation") for the term of this Agreement, regardless of the particular sales compensation program in effect at a given period of time. Such Minimum Annual Compensation may be adjusted upward from time to time with the approval of the Chief Executive Officer of the Corporation if such upward adjustment is deemed to be necessary or desirable as a result of the Sales Executive's performance.
Minimum Annual Compensation. The Company shall pay to Employee for the services to be rendered herein a base salary, at the annual rate of Two Hundred Twenty Five Thousand Dollars ($225,000) (“Minimum Annual Compensation”) effective as of May 1, 2000. Upon the closing of the D Round financing, Employee’s Minimum Annual Compensation shall be increased to Two Hundred Seventy Thousand Dollars ($270,000). Employee shall be entitled to an annual increase of five percent (5%) of the then applicable base salary. Annual increases greater than five percent (5%) may be granted to Employee subject to the approval and discretion of the compensation committee of the Board. At no time during the term of this Agreement shall Employee’s annual base salary fall below Minimum Annual Compensation. In addition, if the Board increases Employee’s Minimum Annual Compensation at any time during the term of this Agreement, such increased Minimum Annual Compensation shall become a floor below which Employee’s compensation shall not fall at any future time during the term of this Agreement and shall become Minimum Annual Compensation.”
