Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).
Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.
Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.
Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.
Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.
Annual Maintenance Fee In consideration of the license granted to Licensee under Section 2.1, Licensee shall pay Licensor on-going annual maintenance fees of **** on each anniversary of the Effective Date.
Contract Duration and Annual Salary 1. The College hereby employs the Administrator in the capacity of Director - Marketing Services, Associate Professor for one year, commencing on July 1, 2024 and terminating on June 30, 2025. The Administrator accepts such employment on the conditions hereinafter set forth, and any applicable provisions of the Board of Trustees Policy Manual. In the event of conflict between Board Policy and this Contract, the Contract shall govern.
2. For the 2024-2025 contract year, the Administrator shall receive an annual salary of $178,054.00 subject to applicable deductions, to be paid in bi-weekly installments as full compensation for all rights granted and service performed under this Contract.
To be Provided Annually but no later than December 1
i) Current complete address listing,
ii) Details of all absences of members from the workplace due to an injury for which the member received Workplace Safety and Insurance Board benefits,
iii) All approved leaves of absence including type of leave. Any additional information requests beyond that noted above may be provided, if possible, by the Employer at the expense of the Plan, unless the Employer is obligated by law to provide the information.
Sick Leave Annual Cash Out Each January, employees are eligible to receive cash on a one (1) hour for four (4) hours basis for ninety-six (96) hours or less of their accrued sick leave, if:
A. Their sick leave balance at the end of the previous calendar year exceeds four hundred and eighty (480) hours;
B. The converted sick leave hours do not reduce their previous calendar year sick leave balance below four hundred and eighty (480) hours; and
C. They notify their payroll office by January 31st that they would like to convert their sick leave hours earned during the previous calendar year, minus any sick leave hours used during the previous year, to cash. All converted hours will be deducted from the employee’s sick leave balance.
Basic Annual Rent Commencing on the earlier of (i) sixty (60) days after the Commencement Date (which 60-day period is hereinafter referred to as the “Fit-Up Period”) or (ii) the date Tenant commences operating its business in the Building (such earlier date being herein the “Rent Commencement Date”), Tenant shall pay to Landlord during the Lease Term “Basic Annual Rent” payable in equal monthly installments as set forth below without any deductions, recoupments, or set-offs, and without demand, in advance on the first day of each and every calendar month in each lease year during the Lease Term; provided, however, that if the Lease Term shall commence on a day other than the first day of a month, Tenant shall pay on the Rent Commencement Date for the fractional part of a month at the beginning of the term, a prorated amount of one month’s rent. Notwithstanding the foregoing, in the event that Tenant occupies only a portion of the Building during the Fit-Up Period, then Tenant shall pay to Landlord, for the balance of the Fit-Up Period only, a percentage of the Basic Annual Rent and Additional Rent otherwise payable by Tenant during such period, which percentage shall be equal to the percentage of the Building occupied by Tenant during such period. In any event, upon the expiration of the Fit-Up Period, Tenant shall be obligated to commence payment of Basic Annual Rent and Additional Rent in their full amounts. Subject to adjustment pursuant to Sections 1(d) and 1(e) above and Rider No. 4 below, the Basic Annual Rent for each year of the original term shall be determined by multiplying the Rentable Area of Leased Premises, as hereinafter defined, by the following amounts: 1st lease year $11.50 2nd lease year $11.50 3rd lease year $11.50 4th lease year $12.34 5th lease year $12.34 6th lease year $12.34 7th lease year $13.25 8th lease year $13.25 9th lease year $13.25 10th lease year $13.25 The Basic Annual Rent shall be confirmed in the Lease Commencement Agreement.
