Term of Employment; Compensation. The Company agrees to employ Executive from July 1, 2001 until June 30, 2003 (the “Term”) as its President and Chief Operating Officer, with the responsibilities normally associated with such position (the “Executive Position”). The Company will pay Executive for his services during the term of his employment hereunder at an annual rate of Two Hundred Fifty Thousand Dollars ($250,000.00) subject to increases thereafter as determined by the Company’s Board of Directors and Compensation Committee, payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Thereafter, this Agreement shall be automatically renewed for successive periods of two (2) years, unless you or the Company shall give the other party not less than three (3) months prior written notice of non-renewal.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof until September __, 2003, as Vice President and Chief Scientist, with the responsibilities normally associated with such position. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of One Hundred Thousand Dollars ($100,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. This salary will be subject to annual review and increase (but not decrease) by the Board of Directors of the Company or the Compensation Committee thereof.
Term of Employment; Compensation a. The Company agrees to employ Employee as an employee from the date hereof, for a period of five (5) years or until the earlier termination of this Agreement pursuant to the terms hereof. The Company will pay Employee base salary for his services rendered hereunder at an initial annual rate of $175,000. Upon receipt by the Company of an investment commitment of at least $5,000,000 and physical receipt of at least $1,000,000 of such commitment, Employee's base salary shall increase to an annual rate of $275,000 effective October 1, 2008. Employee shall have the option to receive any amounts which were not paid to Employee from October 1, 2008 until such time as the increase in salary becomes payable in cash or restricted common stock of the Company at the then current market price. Employee's salary shall be paid in accordance with the Company's regular payroll practices as determined by the Company, subject only to such payroll and withholding deductions as are required by law and such other payroll deductions, as are determined by the Company policy or as Employee may approve. Employee shall receive an annual salary review and shall be considered for salary increases consistent with the profitability of the Company and with the salary increases of the other executive level employees of the Company.
b. The Company does not presently have a stock option plan, bonus plan or a company vehicle plan in place. In the event the Company shall implement any such plan in the future, Employee shall be entitled to participate in such plan in a manner consistent with that of other executive level employees.
c. Employee shall be entitled to up to four (4) weeks paid vacation annually. To the extent that Employee does not use all of his vacation in any year, he may elect to carryover such unused vacation to the next year or to receive compensation in lieu of such unused vacation.
d. Employee shall be entitled to participate in and receive all benefits under any welfare benefit plan or program, including, without limitation, group medical and dental insurance for himself and his dependents, and all employee benefits, including, without limitation, hospital, medical, health and disability insurance, paid holidays, paid sick and personal days and/or any retirement savings plan or program provided at any time by the Company to any of its executive level employees. The benefits offered by the Company are subject to change from time to time as determined in the sole and abso...
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof for three (3) years thereafter. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of One Hundred and Fifty Thousand U.S. Dollars ($150,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Such annual compensation shall be subject to an annual review and may be increased as mutually agreed upon by the Company and the Employee. Employee shall also be eligible for any bonuses and other cash and non-cash compensation customarily awarded by the Company or Selfcare to senior executives of the Company or Selfcare.
Term of Employment; Compensation. Employee’s employment hereunder shall commence at 12:01 a.m. on the first day following the consummation of the transactions contemplated in the Purchase Agreement, and shall end at 11:59 p.m. on June 30, 2008 (the “Term”), unless renewed or as mutually agreed upon by the parties or sooner terminated by Employer for Cause or by Employee for Good Reason in accordance with the terms and conditions set forth in this Agreement. During the term hereof, Employer shall pay Employee an annual salary of $200,000.00 (prorated for the remainder of fiscal year 2006 based upon a 365-day year). Employee shall also be included or entitled to participate in such employee benefit programs as are maintained from time to time by Employer on the same terms and conditions as similarly situated employees. Employee shall be entitled to receive the same or comparable benefits to those currently received from the Company.
Term of Employment; Compensation. Employee's employment hereunder shall commence at 12:01 a.m. on the first day following the consummation of the transactions contemplated in the Purchase Agreement, and shall end at 11:59 p.m. on December 31, 2008 (the "Term"), unless renewed or as mutually agreed upon by the parties or sooner terminated by Employer for Cause or without Cause or by Employee for Good Reason in accordance with the terms and conditions set forth in this Agreement. During the term hereof, Employer shall pay Employee an annual salary of $160,000.00 (prorated for the remainder of fiscal year 2007 based upon a 365-day year). Employee shall also be included or entitled to participate in such employee benefit programs as are maintained from time to time by Employer on the same terms and conditions as similarly situated employees.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof as , with the responsibilities normally associated with such position. The term of the Employee’s employment with the Company shall be three years commencing on the date of this Agreement (the “Original Term”) and shall be automatically extended for successive terms of three-years each (each an “Extended Term”) unless and until the Employee’s employment with the Company is terminated pursuant to the terms of this Agreement. The Company will pay Employee for his services during the term of the Employee’s employment hereunder at an annual rate of RMB ¥ (the “Base Salary”), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. The Base Salary will be subject to annual increases at the discretion of the Company’s Board of Directors. Subject to the discretion of the Board of Directors, a certain amount of stock options may be granted to the Employee. Terms and conditions of the stock options shall be set forth in a separate agreement.
Term of Employment; Compensation. The Company agrees to employ Employee from the date hereof until February 9, 2003, in a senior managerial capacity, with duties as specifically assigned from time to time by the Company. The Company will pay Employee for his services during the term of the Employee's employment hereunder at an annual rate of Sixty Thousand Dollars ($60,000), payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law. Employee shall also be entitled to participate in the current bonus plan of Miracor Diagnostics, Inc. on the same terms and conditions as other executives similarly situated, subject to Miracor Diagnostics, Inc.'s right, in any event, to modify or terminate such plan.
Term of Employment; Compensation. The Company agrees to employ Executive from January 1, 1997 until December 31, 1999 (the "Term") as its Chief Financial Officer, with the responsibilities normally associated with such position (the "EXECUTIVE POSITION"). The Company will pay Executive for his services during the term of his employment hereunder at an annual rate of Two Hundred Thousand Dollars ($200,000), subject to a 15% increase per year, payable in arrears, in equal installments, in accordance with standard Company practice, but in any event not less often than monthly, subject only to such payroll and withholding deductions as are required by law.
Term of Employment; Compensation. The Employer agrees to employ the Employee for a period of ___ years beginning on the Closing Date (the "Term") as an officer of the Employer except as provided herein; and the Employee hereby accepts such employment. As consideration for the Employee's performance hereunder, the Employer will pay the Employee for his services during the Term hereof such amounts (which may be zero (0)) as shall be determined by the Management Committee or its delegate(s) consistent with the provisions of Article III of the LLC Agreement (including, by way of example and not of limitation, the provisions of Section 3.5(c) of the LLC Agreement with regard to the use of Operating Allocation), subject to such payroll and withholding deductions as are required by law. Consistent with the provisions of Section 3.5(c) of the LLC Agreement, the Employee's compensation (including salary and bonus) will be periodically reviewed and adjusted (with respect to both increases and/or decreases).
