Salary and Bonuses. During the Term, the Partnership shall pay to Executive a base annual salary established from time to time by the Board, payable in equal monthly installments in accordance with the Partnership's customary practices ("Base Salary"). The amount of Executive's Base Salary may be increased from time to time with the approval of the Board, but as increased may not be thereafter decreased. The Partnership shall have the right to deduct and withhold from such compensation all social security and other federal, state, and local taxes and charges that are currently or that hereafter may be required by law to be so deducted and withheld. The Partnership shall also pay to Executive any bonuses that are declared by the Compensation Committee of the Board from time to time for his benefit.
Salary and Bonuses. The Executive’s cash compensation for all services to be rendered by him in any capacity hereunder shall consist of base salary and other compensation as provided in this Section.
Salary and Bonuses. 3.1 The Company shall pay the Executive an annual base salary (“Base Salary”) of Canadian $190,000.00 gross payable semi-monthly which shall be reviewed from time to time at the sole discretion of the Company.
3.2 An annual incentive plan that will provide additional earning potential based upon the achievement of predetermined objectives and corporate earnings. Details are outlined in the Executive Management Bonus Program (Schedule A).
3.3 All payment of salary shall be subject to deduction of all applicable Federal and Provincial income tax, unemployment insurance, Canada Pension deductions and other deductions required at law or made pursuant to this Agreement
Salary and Bonuses. (a) During the Employment Term, the Company shall pay Xxxxxxxx an annual base salary of $450,000, payable in equal installments during the year in accordance with the Company's customary practices for senior executives ("Base Salary"). The amount of Xxxxxxxx' Base Salary may be increased from time to time by the Board, and, once increased, such higher amount shall become the Base Salary for all purposes of this Agreement and may not thereafter be reduced. The Company shall also pay to Xxxxxxxx, to the extent earned, an annual cash bonus, not to exceed 100% of Base Salary, which shall be based on the performance of Xxxxxxxx and the UST Group's business as determined annually by the Compensation Committee of the Board in its discretion. The Company shall have the right to deduct and withhold from Xxxxxxxx' compensation all taxes and charges that are currently or that hereafter may be required by law to be so deducted and withheld. The Company shall establish a program whereby Xxxxxxxx may, at his option, defer receipt of any or all of the Base Salary and bonuses otherwise payable to him under this Agreement. Any amounts so deferred shall be placed in a "rabbi" trust, with a bank or other financial institution reasonably satisfactory to Xxxxxxxx, as trustee, providing the maximum security to Xxxxxxxx without causing the constructive receipt of income for federal income tax purposes and distributed, together with interest or other earnings thereon, according to a payment schedule to be designated by Xxxxxxxx.
(b) Notwithstanding the foregoing however, if Xxxxxxxx ceases to be an officer as provided in Section 3.1, Xxxxxxxx shall thereafter, except as provided below for consultant services, be entitled only to receive such meeting fees and other benefits, if any, as the Company provides to the members of the Board who are not also employees of the Company; provided that Xxxxxxxx shall continue to retain his current ownership of (a) all subordinated units representing limited partner interests in UST issued to him at the closing of the IPO, (b) his 10% member interest in New Services, subject to the provisions of the Company Agreement, and (c) the Unit Options awarded to him under the U.S. Timberlands Company 1997 Long-Term Incentive Plan (the "LTIP"), subject to the terms of the LTIP. Xxxxxxxx agrees to make himself available to the Company to provide, upon reasonable request, consulting services of the nature Xxxxxxxx is qualified to perform by reason of Xxxxx...
Salary and Bonuses. During the Term, the Company shall pay Executive an annual base salary of $300,000, payable in equal installments during the year in accordance with the Company's customary practices for senior executives ("Base Salary"). The amount of Executive's Base Salary may be increased from time to time by the Board, and, once increased, such higher amount shall become the Base Salary for all purposes of this Agreement and may not thereafter be reduced. The Company shall also pay to Executive, to the extent earned, an annual cash bonus, not to exceed 100% of Base Salary, which shall be based on the performance of Executive and the UST Group's business as determined annually by the Compensation Committee of the Board in its discretion. The Company shall have the right to deduct and withhold from Executive's compensation all taxes and charges that are currently or that hereafter may be required by law to be so deducted and withheld. The Company shall establish a program whereby Executive may, at his option, defer receipt of any or all of the Base Salary and bonuses otherwise payable to him under this Agreement. Any amounts so deferred shall be placed in a "rabbi" trust, with a bank or other financial institution reasonably satisfactory to Executive, as trustee, providing the maximum security to Executive without causing the constructive receipt of income for federal income tax purposes and distributed, together with interest or other earnings thereon, according to a payment schedule to be designated by Executive.
Salary and Bonuses. The Company shall pay to Executive in his role as the CEO of the Company an initial base salary (the “Base Salary”) of Hong Kong Dollar Ten Thousand Dollars (HK$10,000) per month, to be paid in accordance with Company's standard payroll schedule. The Company shall withhold and deduct from all compensation payments made to Executive all payroll taxes and all other amounts required by federal, state or local laws, and any other deductions, which may be authorized by Executive. The Executive may also be eligible for bonus payments as the Board may determine in its sole discretion.
Salary and Bonuses. The employee’s base salary shall be $230,000 per annum. His bonus shall be a minimum of $25,000 or 2% of the companies EBITA whichever amount is greater, payable twelve months after signing this agreement.
Salary and Bonuses. The Executive’s cash compensation shall be provided by the Company pursuant to Exhibit A attached hereto, subject to annual review and adjustment by the Board.
Salary and Bonuses. Provided Executive fully and faithfully renders ------------------ all services required hereunder and is not otherwise in material breach hereof, Company will pay salary (in equal weekly or bi-weekly installments) and bonuses as follows:
Salary and Bonuses. As compensation for the Services to be rendered during the Term of Employment, and for the other obligations undertaken by Executive under this Agreement, Executive will be entitled to the following: (a)
