Salary and Perquisites Sample Clauses

Salary and Perquisites. (a) For his services under this Agreement, the Employee shall be entitled to receive a salary at the rate of Cdn $125,000 per annum; (b) the salary provided shall be paid in equal semi-monthly installments in accordance with the Employer’s normal practices; (c) the Employee shall also be entitled to participate in any other compensation and perquisite plans provided by the Employer to executive employees of the Employer, subject to the applicable terms of such compensation and perquisite plan as are determined in the discretion of the Employer in relation to the Employee; and (d) Employer shall make and remit all required withholding and employment taxes on any compensation paid or payable to Employee hereunder.
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Salary and Perquisites. (a) For his services under this Agreement, the Employee shall be entitled to receive a base salary at the rate of Cdn.$180,000 per annum; (b) the base salary provided shall be paid in equal semi-monthly installments in accordance with the Employer’s normal practices; (c) the Employee shall also be entitled to an initial grant of 60,000 stock options in the Employer to be issued on and priced based on the closing price at the earliest available date, such date to be determined jointly by the Chief Financial Officer and legal counsel to the Corporation, taking into account relevant stock exchange and securities laws considerations as they pertain to financial and non-financial black-out periods. The options shall be subject to all the terms and conditions of the Employers Equity Incentive Plan; (d) the Employee shall also be entitled to participate in any other compensation and perquisite plans provided by the Employer to executive employees of the Employer, subject to the applicable terms of such compensation and perquisite plan as are determined in the sole discretion of the Employer in relation to the Employee; and (e) Employer shall make and remit all required withholding and employment taxes on any compensation paid or payable to Employee hereunder.
Sample 1
Salary and Perquisites. (a) For his services under this Agreement, the Employee shall be entitled to receive a base salary at the rate of Cdn. $300,000 per annum; (b) the base salary provided shall be paid in equal semi-monthly installments in accordance with the Employer’s normal practices; (c) the Employee shall also be entitled to an initial grant of 400,000 stock options in the Employer stock but only after the Employee has shown proof of purchase of US$500,000 worth of the Employer stock. This purchase is expected to occur before joining the company on December 30, 2015. Assuming the purchase is made prior to commencing employment, the grant of stock options will be to be issued on December 30, 2015, the commencement of employment, and priced at US$1.02 or higher based on the closing price on December 30, 2015. The options shall be subject to all the terms and conditions of the Employers Equity Incentive Plan; (d) the Employee shall also be entitled to participate in any other compensation and perquisite plans provided by the Employer to Employee employees of the Employer, subject to the applicable terms of such compensation and perquisite plan as are determined in the sole discretion of the Employer in relation to the Employee; and (e) Employer shall make and remit all required withholding and employment taxes on any compensation paid or payable to Employee hereunder.
Sample 1
Salary and Perquisites. (a) For his services under this Agreement, the Employee shall be paid a salary at the rate of US$ 300,000 per annum during the term hereof; (b) the salary provided shall be paid in equal semi-monthly installments in accordance with the Employer’s normal practices; and (c) Employer shall make and remit all required withholding and employment taxes on any compensation paid or payable to Employee hereunder who is a permanent resident of the state of Nevada, USA. The Employee and Employer have agreed to review salary and other compensation arrangements on or about the date which is twelve (12) months from the date of this Agreement if the Agreement has not been previously terminated.
Sample 1

Related to Salary and Perquisites

  • Fringe Benefits and Perquisites During the Employment Term, the Executive shall be entitled to fringe benefits and perquisites consistent with those provided to similarly situated executives of the Company.

  • Benefits and Perquisites During the Term, Executive shall be entitled to participate in the benefit plans and programs commensurate with Executive’s position, that are provided by the Company from time to time for its senior executives generally, subject to the terms and conditions of such plans which may be amended, modified, or terminated by the Company.

  • Other Benefits and Perquisites The Executive shall be entitled to participate in the benefit plans provided by the Company for all employees, generally, and for the Company’s executive employees. The Company shall be entitled to change or terminate these plans in its sole discretion at any time.

  • Employee Benefits and Perquisites During the Employment Term, the Executive will be entitled to (i) participate in all employee benefit plans, programs, arrangements or policies that are from time to time made available by the Company generally to its senior executives, including, without limitation, the Company’s life insurance, long-term disability, and health plans (“Employee Benefits”); and (ii) the perquisites and other fringe benefits that are from time to time made available by the Company generally to its senior executives and to such perquisites and fringe benefits that are from time to time made available by the Company to the Executive in particular, subject to any applicable terms and conditions of any specific perquisite or other fringe benefit; provided, however, that nothing contained herein shall be deemed to require the Company to adopt, maintain or provide any particular plan, program, arrangement, policy, perquisite or fringe benefit. The Executive shall be required to comply with the conditions attendant to coverage by such plans and shall comply with and be entitled to benefits only in accordance with the terms and conditions of such plans as they may be amended from time to time. The Executive agrees to cooperate and participate in any medical or physical examinations as may be required in connection with the applications for such life and/or disability insurance policies.

  • Business Expenses and Perquisites Upon delivery of adequate documentation of expenses incurred in accordance with the policies and practices of the Company, Executive shall be entitled to reimbursement by the Company for reasonable travel, entertainment and other business expenses incurred by Executive in the performance of Executive’s duties hereunder in accordance with such policies as the Company may from time to time have in effect.

  • Benefit Plans and Perquisites For as long as the Executive is employed by the Company, the Executive shall be eligible (x) to participate in any and all officer or employee compensation, incentive compensation and benefit plans in effect from time to time, including without limitation plans providing retirement, medical, dental, disability, and group life benefits and including incentive or bonus plans existing on the date of this Agreement or adopted after the date of this Agreement, provided that the Executive satisfies the eligibility requirements for any the plans or benefits, and (y) to receive any and all other fringe and other benefits provided from time to time, including the specific items described in (a)-(b) below.

  • Salary and Fringe Benefits The employee shall be paid a salary which is the pro- rata share of the salary which the employee would have earned had he or she not elected to exercise the option of reduced workload. The employee shall retain all other rights and benefits enjoyed by full-time members of the unit.

  • Perquisites During the Employment Period, Executive shall be entitled to receive such perquisites as are generally provided to other senior officers of the Company in accordance with the then current policies and practices of the Company.

  • Base Salary and Benefits (a) During the Employment Period, the Company shall pay Executive an annual base salary of $535,600 (the “Base Salary”). As used herein, references to “Base Salary” shall include all subsequent increases in annual base salary during the Employment Period. The Base Salary shall be payable in regular installments in accordance with the Company’s general payroll practices (as in effect from time to time). (b) In addition to the Base Salary, during the Employment Period, Executive will be eligible to earn an annual bonus under a bonus plan to be established by the Company, payable in accordance with the Company’s customary practices, as determined by the Board, in its sole discretion based upon the Company’s achievement of budgetary and other objectives set by the Board; provided that, in determining the amount of the annual bonus, if any, to be paid to Executive, the Board shall, in determining whether the Company has achieved the budgetary and other goals set by the Board, disregard any payments by the Company and its subsidiaries to Onex (as defined below) and affiliates. (c) During the Employment Period, Executive shall be entitled to participate in all of the Company’s employee benefit programs for which senior executives of the Company and its subsidiaries are generally eligible. Without duplication of any employee benefits provided to all senior executives of the Company and its subsidiaries, the Company shall reimburse Executive for the annual premium cost of $1 million of term life insurance coverage purchased by Executive on his life, up to a maximum of Eleven Thousand Dollars ($11,000) per year. (d) During the Employment Period, the Company shall (without duplication of any employee benefits provided to Executive pursuant to other provisions of this Agreement) reimburse Executive for all reasonable business expenses incurred by him in the course of performing his duties and responsibilities under this Agreement which are consistent with the Company’s policies in effect from time to time with respect to travel, entertainment and other business expenses, subject to the Company’s requirements with respect to reporting and documentation of such expenses. (e) All amounts payable or otherwise provided to Executive pursuant to this Agreement shall be subject to all applicable withholding and deduction obligations.

  • Salary and Benefits (a) During the period from the date of delivery of a Termination Notice (the “Notice Date”) until the earlier of (i) the date twelve (12) months after the Notice Date, or (ii) the date the Executive commences employment with another company or organization, it being agreed that the Executive shall immediately notify the Company of such event (the “Severance Period”), and so long as the Executive is in compliance with the terms of this Agreement and any material provision of any other written agreement with the Company, the Company shall (A) pay to the Executive, per normal payroll practice, a salary (the “Severance Period Salary”) at a rate equal, on an annualized basis, to the highest annual salary (excluding any bonuses) in effect with respect to the Executive during the six month period immediately preceding the Termination Notice and (B) provide the Executive with employee benefits, including health insurance, dental insurance, life insurance, participation in the Company’s 401(k) plan and Employee Stock Purchase Plan and short-term and long-term disability coverage, pursuant to the same terms and conditions under which the Company makes such benefits available to employees generally, all subject to the terms and conditions of the respective plans and applicable law (collectively, the “Severance Period Benefits”). (b) In the event that (i) there is a Change in Control (as defined below) of the Company and (ii) within twelve (12) months thereafter, a Change in Status (as defined below) of the Executive occurs, and so long as the Executive is in compliance with the terms of this Agreement and any material provision of any other written agreement with the Company, the Company shall pay the Severance Period Salary and provide the Severance Period Benefits to the Executive during the period from the effective date of the Change in Status until the earlier of (i) the date twelve (12) months after such date or (ii) the date the Executive commences employment with another company or organization, it being agreed that the Executive shall immediately notify the Company of such event. Such compensation and benefits, and those provided under Section 3, shall be in lieu of any other compensation and benefits to the Executive with respect to any continuing employment during such period, and the Company shall have no obligation to make any payments or provide any benefits to the Executive under Section 2(a) above.

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