Common use of Salary and Other Benefits Clause in Contracts

Salary and Other Benefits. (a) Commencing as of the effective date of this Agreement, Employer shall pay Officer an annual salary at the rate of $340,000, which shall be payable in semi-monthly or bi-weekly installments in conformity with Employer's policy relating to salaried employees. (b) Subject to the provisions of this Section 4, Officer shall also be entitled during his employment hereunder to all rights and benefits for which he is otherwise eligible under any bonus plan, stock option plan, stock purchase plan, participation or extra compensation plan, pension plan, profit-sharing plan, life and medical insurance policy or other plans or benefits which Employer or its subsidiaries may provide for him or, provided he is eligible to participate therein, for senior officers generally or for employees generally including, without limitation, beginning in December, 1997, participation in the annual award of stock options to Employer's executive officers, which awards are subject to the discretion and approval of Employer's compensation committee. In addition, the Company shall pay the annual premiums and become the irrevocable beneficiary of the $10,000,000 life insurance policy currently held by Xxxxxxx Mortgage (as more particularly provided in a separate letter agreement between Officer and Employer), which policy shall be assignable by the Employer in the event that the Officer's employment with the Employer is terminated (the benefits referred to in this para- graph may be hereinafter referred to as "Additional Benefits"). The Board shall review Officer's salary and Additional Benefits then being paid and provided to him not less frequently than annually in the light of Officer's services for the preceding period, the responsibilities which attend his office and duties hereunder, the profitability and progress of Employer and its subsidiaries and current salaries and benefits then being paid to others holding similar positions. Following such review, Employer may increase the salary and/or Additional Benefits, but may not decrease the salary or any of the Additional Benefits from the then existing levels; provided, however, that Employer shall have the right to reduce Officer's salary in conjunction with a pro rata salary reduction applicable to all of Employer's officers and to reduce one or more Additional Benefits in conjunction with a reduction of such benefits applicable to all of Employer's officers. Employer shall not single Officer out and discriminate against Officer in its provisions of benefits to senior officers or full-time employees of Employer for so long as Officer remains eligible under the terms of plans from time to time offered by Employer, but this provision shall not require the provision of any specific benefit to Officer. If Officer's employment is terminated hereunder, pursuant to Section 6 hereof or pursuant to Section 7(a), 7(b) or 8 hereof, and Officer is entitled to but is no longer eligible for Additional Benefits because of such termination, Officer (or in the event of his death, his designated Beneficiary (as defined in Section 7(b) hereof)) shall be entitled to and Employer shall provide, to the extent provided in this Agreement, benefits substantially equivalent to the Additional Benefits to which Officer was entitled immediately prior to such termination and shall do so for the period during which he remains entitled to receive such Additional Benefits as provided in this Agreement. (c) For each calendar year during the Term, Officer shall be awarded a target bonus in an amount equal to sixty percent (60%) of Officer's annual salary, subject to the terms of the Company's Annual Incentive Compensation Plan for Executive Officers, as the same may from time to time be amended (the "Incentive Plan"). (d) As of the effective date of this Agreement, Employer shall award to Officer the following: (i) a nonqualified stock option to purchase 50,000 shares of Common Stock at an exercise price per share equal to the fair market value per share of Common Stock on the effective date of this Agreement; and (ii) a sign-on bonus equal to $50,000. The stock option awarded pursuant to this Section 4(d) shall be awarded in accordance with the terms and conditions of Employer's 1988 Stock Option and Incentive Plan and the related form of Nonqualified Stock Option Agreement, attached hereto as Exhibits A and B and incorporated herein by reference. (e) Officer shall participate in Employer's Supplemental Executive Retirement Plan, as amended (the "SERP"), with normal retirement benefits equal to sixty percent (60%) of Officer's Average Monthly Compensation (as defined therein), subject to the terms and conditions of the SERP, as amended. (f) This Agreement shall not affect the provisions of any other compensation, retirement or other benefit program or plan of the Company.

Salary and Other Benefits. During the continuance of the Appointment: (a) Commencing as of the effective date of this Agreement, Employer The Company shall pay Officer an annual to the Executive a salary at the rate of $340,000, which shall be payable in semi-monthly TWO HUNDRED AND FIFTEEN THOUSAND POUNDS (GBP 215,000) per annum or bi-weekly installments in conformity with Employer's policy relating to salaried employees. (b) Subject to the provisions of this Section 4, Officer shall also be entitled during his employment hereunder to all rights and benefits for which he is otherwise eligible under any bonus plan, stock option plan, stock purchase plan, participation or extra compensation plan, pension plan, profit-sharing plan, life and medical insurance policy or other plans or benefits which Employer or its subsidiaries may provide for him or, provided he is eligible to participate therein, for senior officers generally or for employees generally including, without limitation, beginning in December, 1997, participation in the annual award of stock options to Employer's executive officers, which awards are subject to the discretion and approval of Employer's compensation committee. In addition, the Company shall pay the annual premiums and become the irrevocable beneficiary of the $10,000,000 life insurance policy currently held by Xxxxxxx Mortgage (such rate as more particularly provided in a separate letter agreement between Officer and Employer), which policy shall be assignable by the Employer in the event that the Officer's employment with the Employer is terminated (the benefits referred to in this para- graph may be hereinafter referred to as "Additional Benefits"). The Board shall review Officer's salary and Additional Benefits then being paid and provided to him not less frequently than annually in the light of Officer's services for the preceding period, the responsibilities which attend his office and duties hereunder, the profitability and progress of Employer and its subsidiaries and current salaries and benefits then being paid to others holding similar positions. Following such review, Employer may increase the salary and/or Additional Benefits, but may not decrease the salary or any of the Additional Benefits from the then existing levels; provided, however, that Employer shall have the right to reduce Officer's salary in conjunction with a pro rata salary reduction applicable to all of Employer's officers and to reduce one or more Additional Benefits in conjunction with a reduction of such benefits applicable to all of Employer's officers. Employer shall not single Officer out and discriminate against Officer in its provisions of benefits to senior officers or full-time employees of Employer for so long as Officer remains eligible under the terms of plans from time to time offered by Employer, but this provision shall not require the provision of any specific benefit to Officer. If Officer's employment is terminated hereunder, pursuant to Section 6 hereof or pursuant to Section 7(a), 7(b) or 8 hereof, and Officer is entitled to but is no longer eligible for Additional Benefits because of such termination, Officer (or in the event of his death, his designated Beneficiary (as defined in Section 7(b) hereof)) shall be entitled to and Employer shall provide, to the extent provided in this Agreement, benefits substantially equivalent to the Additional Benefits to which Officer was entitled immediately prior to such termination and shall do so for the period during which he remains entitled to receive such Additional Benefits as provided in this Agreement. (c) For each calendar year during the Term, Officer shall be awarded a target bonus in an amount equal to sixty percent (60%) of Officer's annual salary, subject to the terms of the Company's Annual Incentive Compensation Plan for Executive Officers, as the same may from time to time be amended agreed by the Company, such salary to be subject to review in January each year beginning January 2003 (any adjustment not to be downwards) and shall be inclusive of any other remuneration from the "Incentive Plan").Company or any associated company including, without prejudice to the above generality, any fees receivable by the Executive as a Director of the Company or any associated company. The said salary (less tax and statutory deductions) shall be payable to the Executive by equal monthly payments two weeks in arrears on the fifteenth day of each month and shall be deemed to accrue on a daily basis; (b) The Executive shall during the continuance of his employment, be entitled to be paid bonuses on achievement of or exceeding performance levels set annually by the Remuneration Committee; (c) The Company shall refund to the Executive, subject where appropriate to the production of vouchers, all reasonable out-of-pocket expenses properly incurred by him in the performance of his duties including expenses of entertainment, subsistence and travelling and where the Company issues a company sponsored credit or charge card the Executive shall use such card only for those expenses reimbursable in terms of this Sub-Clause 5(c) and the Company reserves the right in its absolute discretion to withdraw the use of such card(s) from the Executive at any time without assigning any reason therefore; (d) As The Executive shall conform to such hours of work as may from time to time reasonably be required of him in the effective date performance of this Agreement, Employer his duties hereunder for the Company or any associated company and shall award not be entitled to Officer receive any additional remuneration for work outside the following: (i) a nonqualified stock option to purchase 50,000 shares of Common Stock at an exercise price per share equal to the fair market value per share of Common Stock on the effective date of this Agreement; and (ii) a sign-on bonus equal to $50,000. The stock option awarded pursuant to this Section 4(d) shall be awarded in accordance with the terms and conditions of Employer's 1988 Stock Option and Incentive Plan and the related form of Nonqualified Stock Option Agreement, attached hereto as Exhibits A and B and incorporated herein by reference.normal hours; (e) Officer The Executive shall participate be entitled without loss of remuneration to 25 working days holiday in Employer's Supplemental each holiday year of the Company which is the calendar year (in addition to Bank and other public holidays) to be taken at such time or times as the Company may approve. The Executive Retirement Plan, shall not be entitled to carry forward any annual holiday entitlement foregone by him for any reason during the holiday year in which it accrued. Neither Saturday nor Sunday shall be regarded as amended (a working day. Upon the "SERP"), with normal retirement benefits equal termination of his employment the Executive’s entitlement to sixty percent (60%) accrued holiday pay shall be calculated on a pro rata basis in respect of Officer's Average Monthly Compensation (as defined therein), subject each completed month of service in the holiday year in which his employment terminates and the appropriate amount shall be paid to the terms and conditions of Executive provided that if the SERP, as amended.Executive shall have taken more days’ holiday than his accrued entitlement the Company is hereby authorised to make an appropriate deduction from the Executive’s final salary payment; (f) This Agreement shall not affect the provisions of any other compensation, retirement or other benefit program or plan of Without prejudice to the Company.’s rights under clause 9 below during any period of absence from work due to sickness or accident the Executive shall (after giving the Company when required evidence satisfactory to it of incapacity and continuing incapacity to work) be paid as follows:

Salary and Other Benefits. (a) Commencing as of the effective date of this AgreementAgree- ment, Employer shall pay Officer an annual salary at the rate of $340,000400,000, which shall be payable in semi-monthly or bi-bi- weekly installments in conformity with Employer's policy relating to salaried employees. (b) Subject to the provisions of this Section 4, Officer shall also be entitled during his employment hereunder to all rights and benefits for which he is otherwise eligible under any bonus plan, stock option plan, stock purchase plan, participation or extra compensation plan, pension plan, profit-sharing plan, life and medical insurance policy or other plans or benefits which Employer or its subsidiaries may provide for him or, provided he is eligible to participate therein, for senior officers generally or for employees generally gener- ally including, without limitation, (i) beginning in December, 1997December 1995, participation in the annual award of stock options to Employer's executive officers, which awards are subject to the discretion and approval of Employer's compensation committee. In addition, the Company shall pay the annual premiums and become the irrevocable beneficiary of the $10,000,000 (ii) a split dollar life insurance policy currently held by Xxxxxxx Mortgage (as more particularly provided in a separate letter agreement between Officer and Employer), which policy shall be assignable by the Employer in the event that face amount of $1,500,000 and otherwise on terms and conditions substantially similar to the Officer's employment with terms and conditions of the Employer is terminated split dollar life insurance policy provided Officer by PNC Bank Corp. (the benefits referred to in this para- graph may be hereinafter referred to as collectively, "Additional Benefits"). The Board shall review Officer's salary and Additional Benefits then being paid and provided to him not less frequently than annually in the light of Officer's services for the preceding period, the responsibilities which attend his office and duties hereunder, the profitability and progress of Employer and its subsidiaries and current salaries and benefits then being paid to others holding similar positions. Following such review, Employer may increase the salary and/or Additional Benefits, but may not decrease the salary or any of the Additional Benefits from the then existing levels; provided, however, that Employer shall have the right to reduce Officer's salary in conjunction with a pro rata salary reduction applicable to all of Employer's officers and to reduce one or more Additional Benefits in conjunction with a reduction of such benefits applicable to all of Employer's officers. Employer shall not single Officer out and discriminate against Officer in its provisions of benefits to senior officers or full-time employees of Employer for so long as Officer remains eligible under the terms of plans from time to time offered by Employer, but this provision shall not require the provision of any specific benefit to Officer. If Officer's employment is terminated hereunder, pursuant to Section 6 hereof or pursuant to Section 7(a), 7(b) or 8 hereof, and Officer is entitled to but is no longer eligible for Additional Benefits because of such termination, Officer (or in the event of his death, his designated Beneficiary (as defined in Section 7(b) hereof)) shall be entitled to and Employer shall provide, to the extent provided in this Agreement, benefits substantially equivalent to the Additional Benefits to which Officer was entitled immediately prior to such termination and shall do so for the period during which he remains entitled to receive such Additional Benefits as provided in this Agreement. (c) For each calendar year during the TermTerm (excluding the period from the effective date of this Agreement through December 31, 1995), Officer shall be awarded a target bonus in an amount equal to sixty forty percent (6040%) of Officer's annual salary, subject to the terms of the Company's Annual Incentive Compensation Plan for Executive Officers, as the same may from time to time be amended Officers (the "Incentive Plan").. With respect to the period from the effective date of this Agreement through December 31, 1995, Employer shall pay to Officer a bonus in an amount not less than $153,500 (the "1995 Bonus"), payable in the following manner: no later than three (3) business days after receipt by Employer of certification from Officer that officer has received either a bonus in respect of services rendered in 1995 from PNC Bank Corp. or notification from PNC Bank Corp. that no bonus will be paid to Officer in respect of services rendered in 1995, Employer shall pay to Officer an amount equal to (i) the 1995 Bonus, less (ii) the amount of any bonus payment received by Officer from PNC Bank Corp. (d) As of the effective date of this Agreement, Employer shall award grant to Officer that whole number of restricted shares of common stock of Employer (the "Common Stock") determined by dividing $460,500 by the fair market value per share of Common Stock on the effective date of this Agreement (the "Restricted Stock"). The Restricted Stock shall be issued under the terms of the General Provisions Applicable to Restricted Stock Awards Granted Under the Great Western Financial Corporation 1988 Stock Option and Incentive Plan, as amended to A. Xxxxxxx Xxxxxxx III, and the related form of Restricted Stock Award Agreement, attached hereto as Exhibits A and B, respectively, and incorporated herein by reference. (e) As of the effective date of this Agreement, Employer shall grant to Officer the followingfollowing awards: (i) at Officer's written election delivered to Employer, either (A) (1) a nonqualified non- qualified stock option to purchase 50,000 26,500 shares of Common Stock at an exercise price per share equal to the fair market value per share of Common Stock on the effective date of this Agreement, plus (2) a cash payment of $135,813, or (B) a non- qualified stock option to purchase 44,048 shares of Common Stock at an exercise price per share equal to the fair market value per share of Common Stock on the effective date of this Agreement; and (ii) a signnon-on bonus qualified stock option to purchase 85,000 shares of Common Stock at an exercise price per share equal to $50,000the fair market value per share of Common Stock on the effective date of this Agreement. The Any stock option awarded award- ed pursuant to this Section 4(d4(e) shall be awarded in accordance accor- dance with the terms and conditions of Employer's 1988 Stock Option and Incentive Plan and the related form of Nonqualified Stock Option Agreement, attached hereto as Exhibits A C and B D and incorporated herein by reference. (ef) Officer shall participate in Employer's Supplemental Executive Retirement Plan, as amended (the "SERP"), with normal retirement benefits equal to sixty percent (60%) of Officer's Average Monthly Compensation (as defined therein), subject to the terms and conditions of the SERP, as amended. (fg) This Agreement shall not affect the provisions of any other compensation, retirement or other benefit program or plan of the Company.

Salary and Other Benefits. 3.1 During the continuance of your employment, you shall be paid:- (ai) Commencing as of during the effective period commencing from the date of this Agreementhereof and ending on 31st May, Employer shall pay Officer an annual 2001, a salary at the rate of $340,000S$9,800 per month; and (ii) commencing from 1st June, 2001, a salary at the rate of S$14,300 per month. Such monthly salary is based on your annual salary, which includes an annual wage supplement. Accordingly, you shall not be entitled to be paid any other annual wage supplement by the Company in addition to such salary. Such salary shall be payable monthly in semi-monthly arrears, on the last business day of each month. There shall however be deducted from your salary such amount in respect of your contribution to the Central Provident Fund, or bi-weekly installments in conformity with Employer's policy relating any other amount the Company may be entitled to salaried employeesdeduct or as may be required by law. 3.2 Your salary shall be subject to periodic review by the Company and adjusted at the discretion of the Company in accordance with your performance. Such review shall be conducted at least once during each year of your employment, generally in the month of February. The first adjustment of your salary, if any is made, will take effect on 1st March, 2002. 3.3 During the continuance of your employment:- (bi) Subject to from the provisions of this Section 4date hereof and ending on 31st May, Officer 2001, you shall also be entitled during his employment hereunder to all rights and benefits for which he is otherwise eligible under any bonus plana vehicle allowance of S$900 per month, stock option planpayable together with your monthly salary; and (ii) commencing from 1st June, stock purchase plan, participation or extra compensation plan, pension plan, profit-sharing plan, life and medical insurance policy or other plans or benefits which Employer or its subsidiaries may provide for him or, provided he is eligible to participate therein, for senior officers generally or for employees generally including, without limitation, beginning in December, 1997, participation in the annual award of stock options to Employer's executive officers, which awards are subject to the discretion and approval of Employer's compensation committee. In addition2001, the Company shall pay the annual premiums and become the irrevocable beneficiary of the $10,000,000 life insurance policy currently held by Xxxxxxx Mortgage (as more particularly provided in a separate letter agreement between Officer and Employer), which policy shall be assignable by the Employer in the event that the Officer's employment provide you with the Employer is terminated use of a motor car comparable in value to those provided by Metron Technology (the benefits referred Singapore) Pte Ltd to in this para- graph may be hereinafter referred to as "Additional Benefits")its executives of similar seniority. The Board Company shall review Officer's salary reimburse you for all reasonable maintenance and Additional Benefits then being paid running expenses, registration and provided to him not less frequently than annually insurance (including the cost of repairs in the light of Officer's services for the preceding period, the responsibilities which attend his office and duties hereunder, the profitability and progress of Employer and its subsidiaries and current salaries and benefits then being paid to others holding similar positions. Following such review, Employer may increase the salary and/or Additional Benefits, but may not decrease the salary or any of the Additional Benefits from the then existing levels; provided, however, that Employer shall have the right to reduce Officer's salary in conjunction with a pro rata salary reduction applicable to all of Employer's officers and to reduce one or more Additional Benefits in conjunction with a reduction respect of such benefits applicable motor vehicle) upon such expenses and costs being duly vouched by written evidence, subject however to all of Employer's officers. Employer shall not single Officer out and discriminate against Officer in its provisions of benefits to senior officers or full-time employees of Employer for so long as Officer remains eligible under the terms of plans regulations from time to time offered laid down by Employer, but this provision Metron Technology (Singapore) Pte Ltd in respect of such reimbursement and the use of company motor vehicles. You shall use the motor vehicle in a responsible and proper manner and shall not require do or omit to do anything which might avoid, or preclude any claim under, any policy of insurance in respect of the provision vehicle. You shall use the motor vehicle for personal use only in accordance with the regulations from time to time laid down by the Company. 3.4 You shall be reimbursed all approved travelling expenses (other than travelling expenses incurred in Singapore), hotel expenses and other out-of-pocket expenses reasonably incurred by you in or about the discharge of any specific benefit your duties hereunder. 3.5 The Administrative Committee of the Metron Technology Employee Stock Option Plan (the "STOCK OPTION PLAN") has approved the grant to Officer. If Officer's employment is terminated hereunderyou, during the continuance of your employment, of options to purchase 8,800 shares of the Common Stock of Metron Technology N.V. pursuant to Section 6 hereof or pursuant to Section 7(a), 7(b) or 8 hereof, and Officer the Stock Option Plan. Such grant is entitled to but is no longer eligible for Additional Benefits because of such termination, Officer (or subject in the event of his death, his designated Beneficiary (as defined in Section 7(b) hereof)) shall be entitled to and Employer shall provide, to the extent provided in this Agreement, benefits substantially equivalent to the Additional Benefits to which Officer was entitled immediately prior to such termination and shall do so for the period during which he remains entitled to receive such Additional Benefits as provided in this Agreement. (c) For each calendar year during the Term, Officer shall be awarded a target bonus in an amount equal to sixty percent (60%) of Officer's annual salary, subject all respects to the terms of the Company's Annual Incentive Compensation Plan for Executive Officers, as grant and the same may from time to time be amended (the "Incentive Plan"). (d) As terms of the effective date of this Agreement, Employer shall award to Officer the following: (i) a nonqualified stock option to purchase 50,000 shares of Common Stock at an exercise price per share equal to the fair market value per share of Common Stock on the effective date of this Agreement; and (ii) a sign-on bonus equal to $50,000. The stock option awarded pursuant to this Section 4(d) shall be awarded in accordance with the terms and conditions of Employer's 1988 Stock Option and Incentive Plan and the related form of Nonqualified Stock Option Agreement, attached hereto as Exhibits A and B and incorporated herein by reference. (e) Officer shall participate in Employer's Supplemental Executive Retirement Plan, as amended (the "SERP"), with normal retirement benefits equal a copy of which has been provided to sixty percent (60%) of Officer's Average Monthly Compensation (as defined therein), subject to the terms and conditions of the SERP, as amendedyou. (f) This Agreement shall not affect the provisions of any other compensation, retirement or other benefit program or plan of the Company.