Position and Compensation. Employee will be employed in the position and at the annual base salary and with an annual discretionary bonus as described in the attached Schedule A, which may be changed or modified hereafter from time to time.
Position and Compensation. The Executive currently is serving as Vice President and Chief Financial Officer of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (c) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, incentive compensation plans (including the 2002 Long-Term Incentive Stock Compensation Plan), life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.
Position and Compensation. The Executive currently is serving as an ------------------------- executive officer of the Company and is receiving the following compensation (the "Compensation") for his services: (a) a base salary (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) an annual performance bonus (in accordance with the Company's Executive Incentive Bonus Plan then in effect), and (c) participation in all of the Company's employee benefits plans, including retirement and pension plans, life insurance plans, health, dental and medical plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans.
Position and Compensation. It is hereby agreed that Executive shall continue to be employed by Vitesse in the position of Chief Executive Officer at a base salary of $350,000 per year, retroactive to April 1, 2007. Vitesse and Executive further agree that Executive's base salary shall be reviewed not less than once per year from the Effective Date of this Agreement. Changes in Executive's compensation shall be recorded in a Compensation Adjustment form signed and dated by Vitesse and Executive. In addition to salary, Executive shall also be eligible to participate in the Vitesse's bonus plan for senior executives as from time to time in effect.
Position and Compensation. Executive’s position and compensation will be set by the Board of Directors based on recommendations of the Compensation Committee. In addition to the foregoing, the Company shall pay Executive the gross amount of $200 as consideration for Executive’s entry into this Agreement.
Position and Compensation. It is hereby agreed that Executive shall continue to be employed by Vitesse in the position of Chief Executive Officer at a base salary of $375,000 per year. Vitesse and Executive further agree that Executive’s base salary shall be reviewed not less than once per year from the Effective Date of this Agreement. Changes in Executive’s compensation shall be recorded in a Compensation Adjustment form signed and dated by Vitesse and Executive. In addition to salary, Executive shall also participate in a bonus program which will provide him with the opportunity to earn a target bonus equal to 100% of Executive’s base salary (“Target Bonus”) and a maximum bonus equal to 150% of Executive’s base salary (“Maximum Bonus”). Executive’s bonus, if any, shall be determined by the Board of Directors of Vitesse or any duly authorized committee thereof (“Board”) in its sole discretion, taking into account Executive’s performance during the year and such other factors as the Board deems appropriate. The determination and payment of the amount of Executive’s bonus for a fiscal year would be made at approximately the same time as the determination of fiscal year performance bonuses for the Company’s other executive officers, but not later than March 15 of the following fiscal year.
Position and Compensation. You will continue in the position of Chief Executive Officer, responsible for performing such duties as are assigned to you from time to time, reporting to the Company’s Board of Directors. Effective July 1, 2021, your base salary will be paid at the rate of $600,000 per year, less payroll deductions and withholdings, paid on the Company’s normal payroll schedule. During your employment, you will continue to be eligible to participate in the benefits plans offered to similarly situated employees by the Company from time to time, subject to plan terms and generally applicable Company policies. A full description of current benefits is available for your review. Your previously granted equity awards will continue to be governed by the applicable equity incentive plan and equity awards documents. Of course, the Company may change your position, duties, compensation, benefits and work location from time to time in its discretion.
Position and Compensation. The Executive currently is serving as an executive officer of the Company and is receiving the following compensation (the "Compensation") for his services: (a) the base salary in effect on the date hereof (which amount may be increased as the Company may determine and such increased rate of base salary shall thereafter constitute the Executive's base salary for all purposes of this Agreement), (b) deferred compensation equal to the percentage (in effect on the date hereof) of the Executive's base salary and annual performance bonus, (c) an annual performance bonus under the Company's Senior Management Incentive Compensation Plan equal to the percentage (in effect on the date hereof) of the Executive's base salary, and (d) participation in all of the Company's employee benefits plans, including without limitation, retirement and pension plans, life insurance plans, dental plans, medical plans and automobile allowance plans which are, from time to time, made available by the Company to its executive officers, subject to the terms of such plans, with the Executive's participation to be on terms no less favorable to the Executive than the terms provided to other similar executives.
Position and Compensation. You will continue on your current annual base salary of $650,000.00. You will continue to participate in Target’s current bonus and commission arrangements until you can transition to Symantec’s payroll, which is estimated to occur after the Closing Date, or such later date as Symantec determines. Shortly following the Closing Date, we will work with the Target leadership team to align the businesses and determine the timing and changes to your position, reporting relationship and incentive opportunity under Symantec’s cash incentive and commission arrangements (if any); provided that your total Symantec cash compensation opportunity will be no less that your current total cash compensation opportunity at Target (the “Total Target Cash Compensation Opportunity”). Until such time as any changes are made, you will continue in your current position and reporting relationship. You will be granted an equity award (the “New Equity Award”), consisting of Restricted Stock Units (RSUs) and Performance Stock Units (PSUs), by the Target prior to the Closing Date for a number of shares of the Target’s common stock equal to $6,000,000.00 divided by the Target’s common stock per share stock price on the date of such grant as determined by Target. Those RSUs and/or PSUs will be converted to Symantec RSUs and PSUs at the Equity Exchange Ratio (as defined in the Merger Agreement) based on the Target common stock value divided by the value of Symantec’s stock determined, in all cases pursuant to the terms of the Merger Agreement. The RSU shall constitute thirty percent (30%) of the New Equity Award and shall vest over a three (3)-year time-based vesting period commencing on the Closing Date with: thirty percent (30%) of such-time based portion vesting on the one (1)-year anniversary of the Closing Date, with thirty percent (30%) of such time-based portion vesting on the two (2)-year anniversary of the Closing Date, and the remaining forty percent (40%) of such time- based portion vesting on the three (3)-year anniversary of the Closing Date. The PSU shall constitute seventy percent (70%) of the New Equity Award and shall vest based on non-GAAP operating income margin, provided you are employed on March 31, 2018. The terms of the New Equity Awards shall be substantially similar to the RSU and PSU grants made to senior Symantec executives in June of 2016. Details regarding your New Equity Awards will be provided at the time you receive your grant. The number of PSUs that will...
Position and Compensation. It is hereby agreed that Executive shall be employed by Vitesse as its Senior Vice President, Finance and Chief Financial Officer. Executive shall be employed at a base salary of $285,000 per year. Vitesse and Executive further agree that Executive's base salary shall be reviewed not less than once per year from the Effective Date of this Agreement. Executive shall be eligible to participate in Vitesse's bonus plan for senior executives as from time to time in effect, subject to the terms and conditions in the governing documents of such plan. Any award to Executive under such plan for fiscal year 2011 shall be prorated in proportion to the time between the Effective Date and September 30, 2011. Under this plan, the Executive shall have a target bonus of 40% of his base salary and a maximum bonus of 60% of his base salary. Commencing with the Company's new fiscal year, October 1, 2011, and each fiscal year thereafter, Executive may participate fully in such bonus plan pursuant to the terms and conditions in the governing documents of such plan.
