Term Compensation. The Bank shall pay to Executive as compensation for his services during the Term hereunder an annual salary equal to his current salary with the Bank, which annual salary shall be paid in regular installments in accordance with the Bank’s general payroll practices, including those related to withholding for taxes, insurance and similar items. In no event shall Executive’s annual salary for any year be less than his annual salary in effect for the year 2001.
Term Compensation. 3.1. The Agreement has an initial one-year term, which will automatically be extended for additional two-year periods upon the completion of the initial one-year term or any two-year extension period thereafter until (i) the Executive voluntarily terminates employment or (ii) TPR gives contrary written notice to the Executive at least 60 days prior to the completion of the initial one-year term or any two-year extension period thereafter.
3.2. Base annual salary is payable in 26 equal bi-weekly installments.
3.3. The Executive may be eligible for an annual bonus in accordance with The Princeton Review Bonus Policy, attached hereto as Exhibit A.
3.4. A health insurance plan comparable to the best plan being provided on a current basis to management executives of TPR or other TPR employees.
3.5. Other benefits such as 401(k), cafeteria plan, educational reimbursement and such others as may be provided to other management personnel of TPR or other TPR employees.
3.6. Three weeks of paid vacation.
Term Compensation. 2.1 The term of this Agreement shall run from the date that Consultant’s employment with the Company terminates (anticipated to be on or about January 15, 2020) through the later of (a) December 31, 2020, or (b) the date on which Consultant is no longer entitled to any further vesting of Shares (as defined below) in accordance with the Separation Agreement described below (the “Term”), subject to earlier termination as set forth in this Agreement. This Agreement shall automatically end at the expiration of the Term (with the exception of any obligations of Consultant that continue following such expiration, as set forth in this Agreement).
2.2 As consideration for the Services, the Company shall pay Consultant a monthly fee of $6,000, payable in cash on the last day of each month during the Term of this Agreement.
2.3 As further consideration for the Services, the awards identified on Schedule 1 attached hereto, which awards represent all of the awards granted to Consultant under the Company’s equity incentive plans that were outstanding as of Effective Date (collectively, the “Consultant Awards”), shall vest and/or continue to vest during the Term of this Agreement in accordance with the Separation and Release Agreement entered into between the Consultant and the Company in connection with the termination of his employment with the Company (the “Separation Agreement”).
2.4 The Company shall reimburse Consultant for reasonable travel and out-of-pocket business expenses to the extent such amounts are pre-authorized in writing by the Company’s principal executive officer or Chairman. All expenses shall be validated by a receipt or other appropriate documentation.
Term Compensation. The term of this Agreement shall be four (4) years. McCoskrie shall receive as compensation for this Agreement cash in the amount of 0.32 times the twelve month trailing EBITDA (EBITDA, is comprised of revenues less all operating expenses, net of depreciation, amortization, taxes and interest)of MRI Services, LC and Ultra Diagnostics, LLC, measured as of December 31, 1999, based upon generally accepted accounting practices, bearing interest at eight (8) percent per annum. This amount shall be paid in installments as follows: $62,500 of this amount plus accrued interest on the entire amount due shall be paid on August 9, 2000; $62,500 of the amount plus accrued interest on the entire remaining amount due shall be paid on November 9, 2000; and the remaining amount plus accrued interest on the said entire remaining amount due shall be paid on November 9, 2001; and
Term Compensation. This Agreement shall commence as and when provided in the Employment Agreement between the Company and Tocld X. Xxxx, the principal of Contractor, originally entered into on October 20, 2003, and amended pursuant to the First Amendment to Employment Agreement dated October 5. 2005. and the Second Amendment to Employment Agreement dated July 19, 2008, which date is referred to herein as the "Effective Date'1. This Agreement shall govern the parlies' relationship and shall terminate by its terms upon the first to occur of (i) the eighteenth (18) month following the Effective Date, or (ii) a Change of Control (as defined below), unless (iii) earlier terminated as provided in this Agreement ("Termination Date"). For Services performed, NutraCea shall pay Contractor a gross amount of $15,000 per month, due the first day of the month for the first twelve (12) months following the Effective Date. NutraCea shall pay Contractor a gross amount of $7,500 for the remaining six (6) months of the term of this Agreement, provided that Xxxx X. Xxxx, directly and/or through Contractor or any other successor in interest, has not exercised (from the options granted by NutraCea to Contractor or to Xxxx X. Xxxx) options to acquire more than one hundred and ten thousand (110,000) shares of stock in NutraCea. If Xxxx X. Xxxx and/or Contractor (directly and/or through any successor) has exercised options to acquire more than one hundred and ten thousand (110,000) shares of stock in NutraCea, this Agreement shall terminate the earlier of (i) twelve (12) months following the Effective Date or (ii) at the time of exercise. Upon a termination of this Agreement due to a Change of Control, NutraCea shall pay to Contractor all amounts payable hereunder for the balance of the full eighteen (18) month term. Such unpaid balance shall be payable in a one lump sum within 30 days of the Change of Control event. This Agreement also shall terminate prior to its Termination Date immediately upon and by reason of Xxxx X. Xxxx'x death or Permanent Disability, in which event the Company shall pay to the Contractor the unpaid balance of any compensation owed to the Contractor pursuant to the terms hereof Such unpaid balance shall be payable in a one lump sum within 30 days of death or disability event. All payments to Contractor under this Agreement will be by bank check and in United States dollars. For purposes of this Agreement, '"Change of Control" of NutraCea is defined as the date of (i) the c...
Term Compensation. The Term of this Agreement shall be for 12 months after the Effective Date. As full and complete consideration for Advisor’s performance of the Services, the Company shall pay to Advisor a cash fee in the amount of $10,000 per month, with the first such payment being made within three (3) business days of the Effective Date. All other payments shall be made on the tenth day of each month thereafter (provided that if such tenth day is a weekend or holiday, then such payment shall be made on the first business day after the tenth day of the month). The total amounts owed to Advisor under this Agreement for the full term shall be $120,000. Advisor shall be obligated to incur no more than 10 hours of time each month in providing the Services. None of the Services shall require Advisor to travel, other than to the headquarters of the Company in Calabasas, CA, when necessary.
Term Compensation. The term of this Agreement shall be two (2) years from the Effective Date of this Agreement (the “Term”). Seller shall receive $100 in consideration of this Agreement in each of the two years.
Term Compensation. RENEWAL. Employer agrees to employ Employee for an initial term of three (3) years ("Initial Term"), effective as of April 1, 1993 ("Effective Date"), and to compensate Employee as described on Exhibit A attached hereto and incorporated herein by this reference. Upon the expiration of the Initial Term, this Agreement shall renew for one (1) year terms; provided that this Agreement shall not renew if either party gives written notice to the other not less than thirty (30) days prior to the end of the Initial Term (or any renewals thereof) of its intent not to renew the Agreement, and provided further that either party may terminate this Agreement at any time after the Initial Term, with or without cause, upon the giving of thirty (30) days written notice to the other of its intent to do so. If this Agreement is terminated by either party on thirty (30) days notice, Employee shall continue to render services faithfully during such period and his employment hereunder shall terminate at the end of the notice period. At its sole option, Employer may elect to pay Employee, as severance pay, the base salary due Employee for the unexpired portion of the notice period, thereby immediately terminating Employee's employment in lieu of permitting Employee to continue performing his duties during the notice period. Except as limited in the next following sentence, Employee's compensation shall be reviewed by Employer not less frequently than annually during the term of this Agreement and any extensions or renewals thereof, may be adjusted upward or downward in Employer's sole exercise of its reasonable business discretion and shall be full compensation for all services performed by Employee under this Agreement. During the Initial Term, Employee's compensation may be reduced only for "Cause."
Term Compensation. The Consultant will be retained as a Consultant and independent contractor for the Company for six (6) months beginning on the Effective Date (the “Initial Term”), subject to Section 6. Company may choose to extend the Initial Term only by informing the Consultant in writing of its desire for a Renewal Term, which will be for a subsequent twelve (12) month period with compensation to be determined by the Company’s Board of Directors’ Compensation Committee. For the valuable advice and services to be provided by the Consultant to the Company under this Agreement, the Company will:
a. Pay the Consultant a monthly fixed fee of $5,000;
b. Issue the Consultant on the effective date of her appointment as the Chief Financial Officer of the Company, subject to approval by the Company’s Board of Directors, options to purchase 26,087 shares of the Company’s common stock at an exercise price per share at least equal to the closing price of the Company’s common stock on OTCQB as of the trading day immediately preceding the effective date of her appointment (the “Initial Term Options”). The Initial Term Options shall vest in six (6) equal monthly installments on the last calendar day of each calendar month, with the first portion vesting on May 31, 2020, subject to the Consultant serving as the Chief Financial Officer of the Company on each applicable vesting date. The Initial Term Options shall vest in full the listing of the Company’s securities on NYSE American or the Nasdaq Capital Market, or any successor of the foregoing (the “Uplist”); and
c. Issue the Consultant on the effective date of her appointment as the Chief Financial Officer of the Company, subject to approval by the Company’s Board of Directors, options to purchase 431,251 shares of the Company’s common stock at an exercise price per share at least equal to the closing price of the Company’s common stock on OTCQB as of the trading day immediately preceding the effective date of her appointment (the “Uplist Options”). The Uplist Options shall vest over a two (2) year period in equal quarterly installments on the last day of each calendar quarter, with the first portion vesting on the last day of the calendar quarter during which the Company’s securities begin trading on NYSE American or the Nasdaq Capital Market, subject to the Consultant serving as the Chief Financial Officer of the Company on each applicable vesting date.
Term Compensation a. TERM — Starting on January 1, 2004 for a term of 3 years.
b. Cash Compensation/Management Services Fees — $6,667 USD /month
c. Fees will be paid on invoice from 673.
d. Annual Cash Compensation and Stock Compensation will be reviewed every six (6) months of the Term.
e. The Parties agree that, at their mutual discretion, LIVESTAR has the right to make an offer of employment to EK during the Term, and that EK has the right to accept such offer, without any hindrance from 673, irrespective of the terms of any employment or services agreement between 673 and EK including non-compete and non-solicitation.
f. 673 will have the right to receive additional Cash Compensation from LIVESTAR subsidiaries/ventures that EK is contributing significant services.
g. Stock Compensation — EK will have the right be granted Stock based Compensation whether in form of Stock Options or Stock Grants. Both parties agree to determine Stock Based Compensation as early as possible in the Term.
h. Additional Performance-Based Fees and/or Bonuses – 673 will have the right to earn additional fees and/or bonuses from LIVESTAR or any of its subsidiaries/ventures. The type of additional fees/bonuses will be of the following nature:
i. Additional Cash Compensation/Service Fees based on To Be Determined (TBD) milestones ii. Additional Stock Compensation (Stock Options or Grants) based on TBD milestones iii. Additional Stock Options on TBD milestones iv. No such fees/bonuses will be payable until the specific performance bonus terms are determined and approved by the board and subsequently earned by 673.
