Remuneration Package. (1) For the purposes of this clause:
Remuneration Package. (a) The Employee will be entitled to receive a Remuneration Package comprising:
(i) a base salary in the amount specified in item 4 of Schedule 1 (Base Salary); and
(ii) other benefits specified in item 5 of Schedule 1.
(b) The Remuneration Package is subject to the deduction or withholding of any amounts on account of any applicable taxation.
Remuneration Package. 6 6. SECURITY ................................................................7 7. EXPENSES ................................................................7 8. BONUS SCHEME ............................................................8 9. HOLIDAYS ...............................................................11 10. LIFE ASSURANCE .........................................................11 11.
Remuneration Package. 7.1 This clause shall facilitate the provision by the school of salary and benefit packages to individual members of staff covered by this Agreement.
7.2 For the purposes of this clause:
Remuneration Package. Permanent members of staff may participate in the School's approved Remuneration Packaging Scheme.
(a) For the purposes of this subclause:
Remuneration Package. 9 6 HOME WORKING AREA, TELEPHONES AND SECURITY.............................. 12 7
Remuneration Package. The Company will provide the Executive with the remuneration package (REMUNERATION PACKAGE) specified in SCHEDULE 1 or such other rate as may be determined from time to time on review under CLAUSE 6.
Remuneration Package. 5.1 As from the Commencement Date, the Employee's remuneration package shall be US $ 375,000 per annum, which shall be reviewed annually with a view to effecting appropriate annual increases.
5.2 The composition of the Employee's remuneration package shall be the following--
5.2.1 a salary, which shall be equal to the difference between US $375,000 and the cost to the Company of providing the other components of the package set out in 5.2.2 and 5.2.3;
5.2.2 the contributions payable by the Company in respect of the Employee and his wife and children to the medical aid scheme of which the Employee is a member, all of which shall be for the account of the Company,
5.2.3 the monthly contributions payable by the Company in respect of the Employee to any pension, provident and retirement annuity funds nominated by the Employee, all of which shall be for the account of the Company.
5.3 The Employee's salary shall be payable by equal monthly installments (and proportionately for any lesser period, each monthly installment being deemed to accrue rateably from day to day) in arrears on the last day of each month.
Remuneration Package. 5.1 The Executive shall be paid an annual all-inclusive Remuneration Package amounting to US$200 000.00 (two hundred thousand United States dollars) paid in 12 equal amounts.
5.2 Payment shall be made monthly in arrears by bank credit transfer into the Executive's Account, which Account Particulars are more fully set out in Annexure B hereto, on or about the 24 day of each month.
5.3 The Executive will be responsible for all personal tax obligations.
5.4 The Remuneration Package referred to in CLAUSE 5.1 shall include contributions made to a retirement fund of the Executor's choice.
Remuneration Package. 5.1 The Executive shall be paid an annual all-inclusive Remuneration Package amounting to US$250 000.00 (two hundred and fifty thousand United States dollars) paid in 12 equal amounts.
5.2 Payment shall be made monthly in arrears by bank credit transfer into the Executive's Account, which Account Particulars are more fully set out in Annexure B hereto, on or about the 24th day of each month.
5.3 The Executive has elected, and the Company has agreed that, this amount be paid in Great British Pounds (pounds sterling), in accordance with the exchange rate in effect on 1 December 2003. Accordingly, the Executive shall receive an amount of 145,000 (One Hundred and Forty Five Thousand) Great British Pounds (pounds sterling).
5.4 The Executive will be responsible for all personal tax obligations.
5.5 The Remuneration Package referred to in clause 5.1 above shall include contributions made to a retirement fund of the Executive's choice, The Company will refund, or will procure the refunding, to the Executive of all reasonable expenses properly incurred by him in performing his duties under this Agreement in accordance with Company policy. This will include expenses relating to entertainment and traveling. The Company requires the Executive to submit official receipts or other documents as proof that he has incurred any expenses he claims.
