Salary Shares Sample Clauses
The 'SALARY; SHARES' clause defines the compensation structure for an individual, specifying both the cash salary and any equity or shares to be granted as part of their remuneration. Typically, this clause outlines the base salary amount, payment intervals, and the number or percentage of company shares awarded, including any vesting schedules or conditions attached to the equity. Its core function is to clearly set out the financial and ownership benefits provided to the individual, ensuring both parties understand the total compensation package and reducing the risk of future disputes over pay or equity entitlements.
Salary Shares. The Compensation Committee determined that part of Executive’s 2010 base salary would be paid in the form of “Salary Shares” and further determined that for purposes of determining Executive’s benefit under this Agreement, the value of such Salary Shares recognized as part of Executive’s 2010 base salary would be an amount equal to $ . Therefore, in accordance with the directions of the Compensation Committee and for purposes of calculating Executive’s “Current Compensation Package” for any period that includes base salary earned or paid in the year 2010, the Salary Shares paid to Executive shall be included in the computation of his 2010 base salary (in addition to any other amounts of base salary, such as cash) in the amount set forth in the preceding sentence. Salary Shares paid in 2010 shall not otherwise be recognized as part of Executive’s Current Compensation Package. In addition, SunTrust and Executive acknowledge that, because of federal restrictions, Executive will not receive any bonus amount under the MIP or any FIP for 2010 and, therefore, if any calculation under this Section 1.7 uses Executive’s MIP or FIP bonus for 2010, the amount used shall be zero.
Salary Shares