Tenure Payment. Upon granting of tenure, a regular faculty member will receive a one-time payment equal to three percent (3%) of their base pay. The payment will be included in the first payroll cycle of the academic year in which the award of tenure takes effect.
Tenure Payment. Only teachers employed during the 1974-75 school year who were presently tenured or who were tenured the 1975-76 and 1976-77 school year shall receive the sum of $200.00 in addition to the stated salary guide attached hereto as designated "Exhibit A", "Exhibit B" and "Exhibit C".
Tenure Payment. If (A) Deju remains in the employment of ISG until September 30, 2004 with substantially the same level of responsibility held by Deju to ISG as of the Effective Date; and (B) the average Nasdaq stock price for Headwaters stock for any calendar quarter between October 1, 2002 and September 30, 2004 is greater than $20 per share (a "Qualifying Quarter Price"), then Headwaters shall pay Deju the product of (Y) $300,000 multiplied times (Z) the difference between the highest Qualifying Quarter Price and $20 per share. In no event shall the tenure payment exceed $1.5 million. Deju shall not be entitled to a tenure payment in the event of a Change in Control.
Tenure Payment. If (A) Everest remains in the employment of ISG until September 30, 2004 with substantially the same level of responsibility held by Everest to ISG as of the Effective Date; and (B) the average Nasdaq stock price for Headwaters stock for any calendar quarter between October 1, 2002 and September 30, 2004 is greater than $20 per share (a "Qualifying Quarter Price"), then Headwaters shall pay Everest the product of (Y) $200,000 multiplied times (Z) the difference between the highest Qualifying Quarter Price and $20 per share. In no event shall the tenure payment exceed $1 million. Everest shall not be entitled to a tenure payment in the event of a Change in Control.
Tenure Payment. If (A) Xxxxxxx remains in the employment of ISG until September 30, 2004 with substantially the same level of responsibility held by Xxxxxxx to ISG as of the Effective Date; and (B) the average Nasdaq stock price for Headwaters stock for any calendar quarter between October 1, 2002 and September 30, 2004 is greater than $20 per share (a "Qualifying Quarter Price"), then Headwaters shall pay Xxxxxxx the product of (Y) $500,000 multiplied times (Z) the difference between the highest Qualifying Quarter Price and $20 per share. In no event shall the tenure payment exceed $2.5 million. Xxxxxxx shall not be entitled to a tenure payment in the event of a Change in Control.
