Salary Bonuses. For all services to be rendered by the Executive under this Agreement, the Company agrees to pay, or cause to be paid, to the Executive during the term of his employment under this Agreement a base salary in an amount equal to the base salary the Executive was receiving immediately prior to the effective date of this Agreement. In addition, the Executive shall be entitled to receive a bonus in an amount per fiscal year not less than the amount established according to the Company's bonus programs and practices that are in effect immediately prior to the effective date of this Agreement.
Salary Bonuses. The District shall give a lump-sum bonus to all certified Employees and ESPs in the following manner.
1. Three lump sum payments of $3,000 shall be given to each Certified Employee in the following manner. Returning Certified Employees employed during the 2021-22 school year shall receive a gross salary payment of $3,000 in August of 2021. Newly hired Certified Employees shall receive the first $3,000 payment in May of 2022. All Certified Employees shall receive the second $3,000 payment in May of 2023. All Certified Employees shall receive a third $3,000 payment in May of 2024.
2. All certified employees in the retirement loop get $3,000 per year to be placed in a 403b. The district will provide 403b information and it is the responsibility of the employee to get the paperwork into the unit office so that the money may be placed in the 403b account. The employee will set up the account with the 403b company and then give the account information to the business manager. Non-elective 403(b) Employer Contribution for teachers in the district’s 6% retirement program.
a) The Employee will receive a non-elective employer contribution to his/her 403(b) in an amount equal to the agreed upon stipend amount. Employee’s final year’s salary, if the Employee provided four (4) years notice of retirement.
b) Such contribution will be in the form of a non-elective, post-retirement, employer contribution on behalf of the Employee to a 403(b) eligible product as described in Section 403(b) of the Internal Revenue Code (“Code”), in accordance with the District’s 403(b) Plan, if offered. The Employee has not had and shall not have the option to receive cash or any other form of compensation or benefit in lieu of this non-elective, post-retirement, contribution and such contribution shall not become due and payable until sixty (60) days have passed following the Employee’s receipt of his/her final paycheck for regular earnings and his/her last day of service in the District. This contribution is not intended to constitute creditable earnings for the purpose of reporting to the Teachers’ Retirement System. The contribution will be made in lump sum. However, if the total contribution cannot be made in one lump sum within the timeframe set forth above due to contribution limitations set forth under Code Section 403(b) and the regulations promulgated thereunder, the remaining contribution amount shall be contributed by the District in a second lump sum in the next available tax y...
Salary Bonuses. For the full and faithful performance of the Duties, Company shall cause Employer to pay Employee a salary (“Salary”) of One Hundred Thousand Dollars and No Cents ($100,000.00) per annum, payable on a weekly basis, together with other compensation (“Other Compensation”) of Fifty Thousand Dollars ($50,000) which shall include Employee’s health/life insurance coverage, automobile and costs and expenses associated therewith, country club membership fees and dues and other costs and expenses of Employee. To the extent that the Other Compensation is less than Fifty Thousand Dollars ($50,000) Company shall cause the Employer to pay the difference to the Employee as a year end bonus (“Year End Bonus”) payable on or before December 31. In addition to the Salary, Employee shall be paid a cash bonus for the fiscal year 2006 and each fiscal year thereafter (the “Performance Bonus”). The Performance Bonus shall be 1% of the gross sales of Employer that exceed the Employer’s gross sales for the fiscal year 2005 or of $4.5 million, whichever is greater, and Company shall cause Employer to pay the Performance Bonus to the Employee within 30 days after the end of each fiscal year of the Employer. All sales of Company’s products are to be excluded from the calculation of the Performance Bonus.
Salary Bonuses. You will be paid an annual base salary of $116,000 (payable in accordance with XIPTEL's usual payroll practices), which covers all hours worked. Generally, your salary will be reviewed annually, but XIPTEL reserves the right to change your compensation from time to time on reasonable notice; however, for the first year of employment no change will be made without mutual consent and approval. You will be eligible to be paid an incentive bonus of $20,000 at targeted performance, which will be paid at the end of each calendar quarter for the first year of employment. The revenue target, gross margin goals, and performance basis for bonus payments is defined in Attachment ___ of this Agreement. Incentive bonus payments will only be earned and paid while employed by XIPTEL, and will not be paid or owed after the date you separate from the company for any reason, subject to item #7 below.
Salary Bonuses. As compensation for services rendered under this Agreement Employee shall receive a salary of five thousand dollars ($5,000 CDN) per month, upon sending a detailed invoice and a work report. Employee shall be entitled to any other bonus that FGS will attribute to the personnel of the Company.
Salary Bonuses. As compensation for services rendered under this Agreement. Consultant shall receive a monthly salary of eleven thousand dollars ($11,400). Consultant shall he entitled to any other bonus, presence chips etc., that the Company will attribute to Board members, Officers, etc. Company will adjust salary each year for inflation and cost of living.
Salary Bonuses. As compensation for services rendered under this Agreement, Executive shall receive a monthly salary of eleven thousand dollars ($11,000). Executive shall be entitled to any other bonus, presence chips etc. that FGS will attribute to Board members, Officers, etc. Company will adjust salary each year for inflation and cost of living.
Salary Bonuses. You will be paid an annual base salary of $150,000 (payable in accordance with XIPTEL's usual payroll practices), which covers all hours worked. Generally, your salary will be reviewed annually, but XIPTEL reserves the right to change your compensation from time to time on reasonable notice; however, for the first year of employment no change will be made without mutual consent and approval. You will be paid a bonus of $100,000, which will be paid at a rate of $25,000 at the end of each calendar quarter for the first year of employment. The bonus payments will be guaranteed. The performance basis for bonus payments will be mutually agreed upon and be established within four (4) weeks following the effective date of employment. Bonus payments will only be earned and paid while employed by XIPTEL, and will not be paid or owed after the date you separate from the company for any reason, subject to item #6 below.
Salary Bonuses. (a) As compensation for the Employee's services to be rendered to the Employer and in consideration for the covenants and agreements of the Employee contained herein, the Employer shall pay to the Employee an annual Base Salary of $180,000.
(b) The Base Salary shall be payable in substantially equal installments and in substantially the same manner that salaries are paid by the Employer to other employees in comparable positions with the Employer. The Board (or a committee of the Board) shall make an annual review of the Base Salary and may, but shall not be obligated to, in its sole discretion, make increases thereto.
(c) The Employer shall pay to the Employee a signing bonus (the "Signing Bonus"). The Signing Bonus shall be equal to $150,000, two-thirds (i.e., $100,000) of which shall be payable upon execution and delivery of this Agreement by the parties hereto. The remaining one-third (i.e., $50,000) shall be payable on the first anniversary of the date of this Agreement, provided that this Agreement has not been terminated by the Employer for Cause or by the Employee without Good Reason on or before the date that such installment is payable.
(d) The Employer shall pay to the Employee an objectives-based bonus (the "Objective-Based Bonus"). The Objective Based-Bonus shall be equal to $70,000 per year and shall be paid to Employee upon Employee meeting or exceeding certain objectives as determined in good faith by the Chief Executive Officer of Employer in consultation with Employee.
Salary Bonuses. Xxxxxx and the Company agree that (i) any and all applicable federal, state and local tax withholding obligations, and the employee's share of any FICA tax obligations with respect to the payment of the Salary Bonuses (the "Withholding Taxes") shall be withheld by the Company from the Salary Bonuses and remitted to the proper taxing authorities, and (ii) any remaining amounts of the Salary Bonuses owing to Xxxxxx after satisfaction of such Withholding Taxes shall be retained by the Company in partial satisfaction of the Loans.
