Salary and Incentives Sample Clauses

Salary and Incentives. 4.1 The Executive shall be paid monthly on the 16th day of each month (or last working day prior to the 16th) for his services during that month, at a salary rate of £135,000 per annum, less normal deductions. 4.2 The Executive shall be entitled to participate in the Company’s annual cash incentive scheme, Molson Coors Incentive Plan (MCIP) in accordance with the rules of the MCIP prevailing at that time. However, the Company reserves the right to discontinue or amend the terms of the MCIP or any replacement thereof annual cash incentive scheme at any time and from time to time without any obligation to provide a replacement or equivalent incentive scheme or to pay compensation in respect of such amendment or withdrawal. The Executive acknowledges that he has no contractual or other legal right to receive any annual cash incentive payment and that the Company is under no obligation to operate any cash incentive scheme. He further acknowledges that he will not acquire such a right (or to receive any cash incentive payment at a particular level), nor shall the Company come under such an obligation, merely by virtue of the Executive having received one or more cash incentive payments during the course of the Appointment. 4.3 The company will first review (but shall not be obliged to increase) the salary payable under this Agreement on 1 April 2009. Thereafter at least once in each 12 months the Company shall review (but shall not be obliged to increase) the salary payable under this Agreement. 4.4 The Executive shall not be entitled to any other salary or fees as an officer, director or employee of the Company or any Associated Company. The Executive shall, as the Company may direct, either waive his right to any such salary or fees or account for the same to the Company. 4.5 The Company shall be entitled to deduct from the Executive’s salary or other remuneration all or any sums owed by him to the Company including, but not limited to, advances, overpayments, unauthorised expenses, relocation costs or the costs of repairing or replacing any equipment or property belonging to the Company or any Associated Company which has been lost or damaged by the Executive.
Sample 1
Salary and Incentives. Your annual base salary will be $350,000 In addition, you will be eligible to participate in the Zarlink Bonus Plan at 50% of base salary. Details of the plan will be communicated to you.
Sample 1
Salary and Incentives. 5.1 The Executive shall receive a monthly salary of HRK 230,769.24 (gross), payable latest until the 15th day of each month for his services during the previous month (inclusive of any director’s fees and salaries which may be payable to the Executive by the Company or any Associated Company), less normal deductions for tax and employee contributions. 5.2 The Executive shall be entitled to participate in the Company’s annual cash incentive scheme, Molson Coors Incentive Plan (MCIP) in accordance with the rules of the MCIP prevailing at that time. However, the Company reserves the right to discontinue or amend the terms of the MCIP or any replacement thereof annual cash incentive scheme at any time and from time to time without any obligation to provide a replacement or equivalent incentive scheme or to pay compensation in respect of such amendment or withdrawal. The Executive acknowledges that he has no contractual or other legal right to receive any annual cash incentive payment and that the Company is under no obligation to operate any cash incentive scheme. He further acknowledges that he will not acquire such a right (or to receive any cash incentive payment at a particular level), nor shall the Company come under such an obligation, merely by virtue of the Executive having received one or more cash incentive payments during the course of the Appointment. The Executive will cease to be eligible to receive any payments under the MCIP if he is not employed at the payment date. 5.3 The Company will first review (but shall not be obliged to increase) the salary payable under this Agreement on 1 April 2023. Thereafter at least once in each 12 months the Company shall review (but shall not be obliged to increase) the salary payable under this Agreement. 5.4 The Executive is entitled to payment of “the 13th salary” in the gross amount of the average monthly gross salary. 5.5 The Executive is entitled to the relocation support in accordance with the Global Transfer policy, schooling allowance for his children (international grammar and high school) and medical coverage (health insurance) for his spouse. 5.6 The Executive shall not be entitled to any other salary or fees as an officer, director or employee of the Company or any Associated Company. 5.7 The Company shall be entitled to deduct from the Executive’s salary or other remuneration (including but not limited to any MCIP payments, commission, payment in lieu of notice, holiday pay and sick pay) all or an...
Sample 1
Salary and Incentives. During the Term, the Company will pay Employee an annual salary of two hundred eighty-four thousand dollars ($284,000) (the “Base Salary”), subject to applicable tax withholding and payable in accordance with the Company’s normal payroll practices; provided that Employee’s Base Salary may be reduced to the extent that Employee elects to defer any portion thereof under the terms of any deferred compensation or savings plan maintained by the Company. During the Term, the Board of Directors shall review Employee’s Base Salary on an annual basis and, in its discretion, may award merit increases of Employee’s Base Salary in accordance with Company policy. Employee’s Base Salary may also be reduced during the Term, provided that such reduction must be consistent with across-the-board salary reductions made with respect to similarly situated employees of the Company.
Sample 1
Salary and Incentives. Your annual base salary will be $350,000. In addition, you will be eligible to participate in the Zarlink Bonus Plan at 50% of base salary. Details of the plan will be communicated to you. In order to provide you with an incentive to remain in the employ of the Company, you will be entitled to receive a retention bonus equal to $350,000. The retention bonus, less applicable statutory deductions and withholdings, will be payable after the completion of one (1) year of employment; provided however, if your employment is earlier terminated by the Company without Cause, you will be entitled to receive 100% of the retention bonus or any unpaid portion thereof upon termination. The retention bonus payment will be made within 30 days after the anniversary date of employment, or in the case of termination without Cause, on the Termination Date.
Sample 1
Salary and Incentives. You will continue to receive an amount equivalent to your current base salary at the current annual rate of Three Hundred Forty-Five Thousand Dollars ($345,000.00), in semi-monthly payments through February 28, 1999. You will receive Operational Incentive Plan (OIP) bonus payments of $172,500.00 for 1997 and 1998, said payments to be payable in February of 1998 and February of 1999, respectively. You will be deemed to be an OIP 1 or equivalent if such designation is changed. You will not be eligible to receive any incentive payment with respect to 1999 or any year thereafter. You will also receive a payment equivalent to the Strategic Incentive Plan (SIP) bonus with respect to 1997, said payment to be payable in February of 1998. You will not be eligible to receive any SIP payment with respect to 1998 or any year thereafter.
Sample 1
Salary and Incentives. Through September 30, 2005, you will continue in your role as Chairman, CEO, and President, and you will receive your regular base salary, paid in accordance with the customary payroll practice in the monthly amount equal to $100,000, subject to applicable FICA and income tax withholding obligations. In addition to the monthly salary described above, for fiscal year 2006 you will also receive Long Term Incentive Awards of stock and cash under the Long Term Senior Management Incentive Plan ("LTSMIP") based on an award pool of 8% of the Company's excess after-tax earnings over and above 5% compound annual growth rate from a fixed five-year average earnings base and both of which will be prorated to reflect the number of days from the beginning of the fiscal year through your Resignation Date. Such payments will be calculated and paid in the same manner as LTSMIP Awards have been calculated and paid in the past for the Company's other senior executive officers participating in such plans, except that the stock and the cash awards payable to you will be immediately fully vested and no longer be subject to any risk of forfeiture. For fiscal year 2006 you will also receive an award under the Annual Management Incentive Plan ("MIP"), prorated for the fiscal year through your Resignation Date. The MIP Award will be based on the PBT performance scale approved by the Human Resources Committee of the Board on July 25, 2005. This award will not be restricted in any way and will not be subject to risk of forfeiture. The LTSMIP Awards and the Annual MIP Award described above will be subject to applicable FICA and income tax withholding obligations. From your Resignation Date through September 30, 2009 (the "Separation Date"), you will be employed in a non-officer capacity, with the title of Chairman and CEO Emeritus of the Company (the "Employment Period"), and during the Employment Period you will be paid half your regular base salary, paid in accordance with the customary payroll practice in a monthly amount equal to $50,000, subject to applicable FICA and income tax withholding obligations (the "Base Salary"); provided, however, that you shall not be entitled to the Base Salary so long as you, without good and sufficient reason (i.e., being directed to perform services inconsistent with the Requested Services (as defined below)) or in the absence of a material breach of this Agreement by the Company, willfully refuse to perform your duties and obligations contemplate...
Sample 1
Salary and Incentives 
Sample 1Sample 2Sample 3See All (38)

Related to Salary and Incentives

  • 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.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • 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.

  • 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.

  • Base Compensation During the time that Executive is an employee of the Company, the Company shall pay to Executive a base salary (the “Base Salary”) of $350,000 per annum, payable in regular installments in accordance with the Company’s usual payment practices. The Base Salary shall be reviewed by the Board of Directors’ Compensation Committee during the term of this Agreement and adjusted accordingly at the discretion of the Compensation Committee.

  • 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.

  • 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.