Service Period Compensation Sample Clauses

Service Period Compensation. During the Service Period, the Company shall pay the Executive an annualized base salary $775,000, payable in accordance with the regular payroll practices of the Company, and the Executive shall continue to be eligible for all benefits and perquisites that the Executive was receiving or entitled to receive on the Resignation Date, provided that the Executive shall not be eligible for any new equity grants or to participate in future incentive or bonus plans.
Sample 1
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Service Period Compensation. (i) For the period beginning on the Effective Date and continuing thereafter during the Service Period until the Cessation Date, Executive shall be paid a Consulting Fee, at a rate equal to the difference between $2,722,708 per year and the sum of the Deemed Qualified Retirement Plan Benefit and the Deemed Retirement Equalization Plan Benefit (as defined below). The Consulting Fee shall be payable in substantially equal monthly installments, with such amounts to be wire transferred by the Corporation to an account in the name of Executive maintained at a Chicago bank selected by the Corporation. (By way of illustration, as of the Signing Date, the Consulting Fee is projected to be at the rate of $2,080,236 per year for the period commencing as of the Effective Date and ending on Executive's 62nd birthday, and at the rate of $2,084,334 per year for the period commencing as of Executive's 62nd birthday.)
Sample 1
Service Period Compensation 
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Related to Service Period Compensation

  • Fixed Compensation Each of the Co-Managers will receive certain additional fixed compensation pursuant to separate agreements with Masterworks, which is not tied specifically to this Offering or to any other specific offering, but a portion of which is deemed to be underwriting compensation for this Offering. Such additional fixed compensation relates to (i) a monthly retainer for administrative support services and (ii) fixed compensation payments to representatives of Arete. $8,224 is a reasonable estimate of costs and expenses referenced in clauses (i) and (ii) above that are appropriately allocated to this Offering.

  • Annual Compensation The Executive’s “Annual Compensation” for purposes of determining severance payable under this Agreement shall be deemed to mean the sum of (i) the annual rate of Base Salary as of the Date of Termination, and (ii) the cash bonus, if any, earned by the Executive for the calendar year immediately preceding the year in which the Date of Termination occurs.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

  • Services and Compensation Consultant agrees to perform for the Company the services described in Exhibit A (the “Services”), and the Company agrees to pay Consultant the compensation described in Exhibit A for Consultant’s performance of the Services.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Consulting Compensation In consideration for the services to be provided by the Consultant pursuant to Section 1, above, the Consultant shall be compensated as follows:

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