Common use of Total Remuneration Cost Clause in Contracts

Total Remuneration Cost. (a) The Company will provide the Executive with the benefits outlined in Item 4 Table 1 of the Schedule. These benefits constitute the Total Remuneration Cost (TRC). (b) The Company will pay the Executive the Salary component of the TRC monthly in arrears into a bank account nominated by the Executive. (c) The TRC includes all payments and benefits that the Company is legally obliged to provide, including the minimum statutory superannuation guarantee contribution. (d) In the sole event that the Company becomes a publicly trading company on an international exchange (for example NASDAQ, ASX etc.), the Executive’s TRC will automatically increase in accordance with Item 4 Table 2 from the first monthly pay period of trading.

Appears in 3 contracts

Samples: Executive Service Agreement (Gelteq LTD), Executive Service Agreement (Gelteq LTD), Executive Service Agreement (Gelteq LTD)

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Total Remuneration Cost. (a) The Company will provide the Executive with the benefits outlined in Item 4 Table 1 of the Schedule. These benefits constitute the Total Remuneration Cost (TRC). (b) The Company will pay the Executive the Salary component of the TRC monthly in arrears into a bank account nominated by the Executive. (c) The TRC includes all payments and benefits that the Company is legally obliged to provide, including the minimum statutory superannuation guarantee contribution. (d) In the sole event that the Company becomes a publicly trading company on an international exchange (for example NASDAQ, ASX etc.), the Executive’s TRC will automatically increase in accordance with Item 4 Table 2 from the first monthly pay period of trading.

Appears in 3 contracts

Samples: Executive Service Agreement (Gelteq LTD), Executive Service Agreement (Gelteq LTD), Executive Service Agreement (Gelteq LTD)

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