Common use of Salary, Bonus and Benefits Clause in Contracts

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 payable bi-weekly or in such other manner as is consistent with the Company’s normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five percent (75%) of Executive’s then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s other employees and senior-level executives (including, without limitation, participation in the Company’s medical, dental, vision, life and disability insurance programs, the Company’s 401(k) plan, the Company’s stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 2 contracts

Samples: Employment Agreement (Nextel Partners Inc), Employment Agreement (Nextel Partners Inc)

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Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 285,000 payable bi-weekly or in such other manner as is consistent with the Company’s normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five one hundred percent (75100%) of Executive’s then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s other employees and senior-level executives (including, without limitation, participation in the Company’s medical, dental, vision, life and disability insurance programs, the Company’s 401(k) plan, the Company’s stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 330,000 payable bi-weekly or in such other manner as is consistent with the Company’s normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five one hundred percent (75100%) of Executive’s then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s other employees and senior-level executives (including, without limitation, participation in the Company’s medical, dental, vision, life and disability insurance programs, the Company’s 401(k) plan, the Company’s stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 600,000 payable bi-weekly or in such other manner as is consistent with the Company’s 's normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five one hundred percent (75100%) of Executive’s 's then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s 's other employees and senior-level executives executive's (including, without limitation, participation in the Company’s 's medical, dental, vision, life and disability insurance programs, the Company’s 's 401(k) plan, the Company’s 's stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s 's base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 290,000 payable bi-weekly or in such other manner as is consistent with the Company’s 's normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five percent (75%) of Executive’s 's then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s 's other employees and senior-level executives (including, without limitation, participation in the Company’s 's medical, dental, vision, life and disability insurance programs, the Company’s 's 401(k) plan, the Company’s 's stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s 's base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 255,000 payable bi-weekly or in such other manner as is consistent with the Company’s 's normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five percent (75%) of Executive’s 's then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s 's other employees and senior-level executives (including, without limitation, participation in the Company’s 's medical, dental, vision, life and disability insurance programs, the Company’s 's 401(k) plan, the Company’s 's stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s 's base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

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Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 265,000 payable bi-weekly or in such other manner as is consistent with the Company’s normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five one hundred percent (75100%) of Executive’s then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s other employees and senior-level executives (including, without limitation, participation in the Company’s medical, dental, vision, life and disability insurance programs, the Company’s 401(k) plan, the Company’s stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 260,000 payable bi-weekly or in such other manner as is consistent with the Company’s normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five percent (75%) of Executive’s then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s other employees and senior-level executives (including, without limitation, participation in the Company’s medical, dental, vision, life and disability insurance programs, the Company’s 401(k) plan, the Company’s stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

Salary, Bonus and Benefits. (i) The Company shall pay Executive a base salary in the annual amount of $235,000 200,000 payable bi-weekly or in such other manner as is consistent with the Company’s 's normal payroll practices. (ii) The Company shall (subject to the review and approval by the compensation committee of the board of directors) establish a performance based program pursuant to which Executive shall receive, if performance targets are met, an additional annual cash payment of up to seventy-five percent (75%) of Executive’s 's then current base salary (or such higher amount as the compensation committee may approve). (iii) The Company shall offer to Executive a benefits package equivalent to that provided to the Company’s other employees 's otheremployees and senior-level executives (including, without limitation, participation in the Company’s 's medical, dental, vision, life and disability insurance programs, the Company’s 's 401(k) plan, the Company’s 's stock purchase program, and such other plans or programs as may be made available). In addition, the Company shall maintain a life insurance policy on the life of Executive and payable upon death of the Executive to a beneficiary or beneficiaries designated by Executive, in an amount not less than $500,000. (iv) For so long as this Agreement is renewed, the compensation committee of the board of directors shall each year on or before the anniversary date of this Agreement review the Executive’s 's base salary and bonus payment in light of the performance of Executive and the Company, and may increase (but not decrease) such base salary and bonus payment by an amount it determines to be appropriate.

Appears in 1 contract

Samples: Employment Agreement (Nextel Partners Inc)

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