Salary and Bonus Compensation Sample Clauses

Salary and Bonus Compensation. You will receive a semi-monthly salary of $25,000.00 (which would equal $600,000 on an annualized basis), less applicable taxes and withholdings, in accordance with the Company’s normal payroll procedures. You will serve as a member of the Board during your employment as the Company’s CEO. You will also receive a one-time, sign-on bonus in the amount of $125,000, less applicable taxes and withholdings, which will be payable to you in a lump sum in August 2015, when other Company employee bonuses are generally paid. Commencing with fiscal 2016, you will be eligible to participate in the Extreme Networks Annual Incentive Plan (“EIP”) with an annual target of 120% of your annual base salary. The EIP target bonus will be paid if you and the Company meet established performance objectives and attainment of key strategic goals to be determined by the Board (the “EIP Goals”). Details of the EIP including the EIP Goals will be finalized by the Compensation Committee of the Board each quarter or fiscal year as deemed appropriate by the Compensation Committee. The Company retains the right to change or amend the EIP at any time.
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Salary and Bonus Compensation. Executive will receive an annual salary of Three Hundred Thousand ($300,000) with prorated variable compensation through December 31, 2007 equivalent to Two Hundred Thousand Dollars ($200,000), payable upon the achievement of agreed upon goals. The Board or the Compensation Committee of the Board will review Executive’s salary at least annually. Executive’s salary will not be reduced, and after any increase the term “salary” for purposes of this Agreement shall refer to Executive’s annual salary as most recently increased.
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Salary and Bonus Compensation. 1.2.1 For the services and duties to be rendered and performed by the Executive hereunder, Company shall pay Executive for every year of this Agreement a salary (the "Initial Base Salary") of One Hundred Eighty-Five Thousand and no/100 U.S. Dollars ($185,000.00). 1.2.2 Salary adjustments in future years of this Agreement shall be determined annually by the Board of Directors, but in no event will Executive's annual salary be reduced below the Initial Base Salary adjusted for the increase, if any, in the Consumer Price Index as published by the U.S. Department of Commerce for the area in which the principle executive offices of the Company are located from the Effective Date. Executive's annual salary shall be payable in equal, semi-monthly installments or at such time as is customary for the payment of executive payroll of the Company. Such payments shall be made without offset or reduction other than for taxes or other amounts required to be withheld or deducted by law or court order. 1.2.3 Executive shall be entitled to an annual performance bonus of up to 40 percent of Executive's annual salary to be determined by the Board of Directors of the Company, at its sole discretion, based upon: (i) Executive's satisfaction of certain performance objectives; and (ii) the Company's satisfaction of certain performance objectives. The performance objectives of Executive and the Company shall be established by mutual agreement of Executive and the Board of Directors.
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Salary and Bonus Compensation. Provided that the Company's agreement with Target Corporation dated as of March 28, 2000 (the "Target Agreement") remains in full force and effect, Executive shall be paid a base salary of $900,000 per year (the "Salary"). The Salary shall be payable in 26 equal installments per year in accordance with the Company's regular payroll practices. In addition, Executive shall be paid a bonus commission equal to fifty percent (50%) of the Company's Net Royalties earned under the Target Agreement (royalty income less commission paid to Xxxxxx Xxxxxxxx) for all Net Royalties in excess of the minimum generated annual Net Royalties guaranteed under the Target Agreement (the "Target Bonus"). A portion of the Target Bonus will be advanced to Executive quarterly within thirty (30) days of receipt by the Company of payment from Target Corporation. Each quarterly Target Bonus advance shall be based upon Net Royalties paid for that quarter. Provided, however, that if a Target Bonus advance is paid for one or more quarters during any Contract Year (as defined in the Target Agreement), but fifty percent (50%) of the annual Net Royalties in excess of the minimum annual guaranteed Net Royalties paid to the Company for that Contract Year is less than the amount paid to Executive during such quarter(s), the difference shall be deducted from future quarterly bonus payments; however, such deductions shall be made after the calculation of the Target Bonus for such future periods. In the event that Executive's employment is terminated prior to the Company's recoupment of the difference, the remaining portion of the difference shall be deducted from any amounts payable to Executive at the time of termination; and, Executive shall repay any amounts not covered by such deductions at the time of termination.
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Salary and Bonus Compensation 
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Related to Salary and Bonus Compensation

  • Salary and Bonus Awards of stock, stock options, and stock appreciation rights. Use the dollar amount recognized for financial statement reporting purposes with respect to the fiscal year in accordance with the Statement of Financial Accounting Standards No. 123 (Revised 2004) (FAS 123R), Shared Based Payments.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Base Compensation The Bank agrees to pay the Employee during the ----------------- term of this Agreement a salary at the rate of $185,000 per annum, payable in cash not less frequently than monthly. The Board shall review, not less often than annually, the rate of the Employee's salary, and in its sole discretion may decide to increase his salary.

  • Basic Compensation (a) SALARY. Executive will be paid an annual base salary of $115,000.00, subject to adjustment as provided below (the "Salary"), which will be payable in equal periodic installments according to Employer's customary payroll practices, but no less frequently than monthly. The Salary will be reviewed by the Board of Directors not less frequently than annually, and shall be increased on each anniversary of the Effective Date during the term hereof by an amount equal to not less than ten percent (10%) of the prior year's base salary.

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.