1Base Salary. During the Period of Employment, the Company shall pay the Executive a base salary (the “Base Salary”), which shall be paid biweekly or in such other installments as shall be consistent with the Company’s regular payroll practices in effect from time to time. The Executive’s Base Salary shall be at an annualized rate of Seven Hundred Thousand dollars ($700,000.00). The Compensation Committee of the Board (the “Compensation Committee”) will review the Executive’s rate of Base Salary on an annual basis and may, in its sole discretion, increase (but not decrease) the rate then in effect.
1Base Salary. During the Employment Term, the Employee will be entitled to receive a base salary (“Base Salary”) at an annual rate of not less than $364,000 for services rendered to the Company, payable in accordance with the Employer’s regular payroll practices. The Employee’s Base Salary shall be reviewed annually by the Board and may be adjusted upward in the Board’s sole discretion, but not downward.
1Base Salary. The Company shall pay the Executive a Base Salary in an amount which shall be established from time to time by the Board of Directors of the Company or the Board's designee; provided, however, that the Executive's Base Salary may be decreased by the Board (other than during a Window Period) as part of a program that is applicable equally (as a percentage of base salary) to all executives of the Company and is determined by the Board to be necessary and appropriate in light of the Company's then financial condition. Base Salary shall be paid to the Executive in equal semi-monthly installments throughout the year, consistent with the normal payroll practices of the Company. The annual Base Salary shall be reviewed at least annually following the Effective Date of this Agreement, while this Agreement is in force, to ascertain whether, in the judgment of the Board or the Board's designee, such Base Salary should be increased, based primarily on the performance of the Executive during the year and on the then current rate of inflation. If so increased, the Base Salary as stated above shall, likewise, be increased for all purposes of this Agreement.
1Base Salary. During the Employment Period, the Executive shall receive a base salary of $25,011 per month, which shall be prorated for any period of less than one month (the “Base Salary”). The Base Salary shall be paid in installments in accordance with the Company’s standard payroll policy.
1Base Salary. As compensation for Xxxxxxxxx’s performance of Executive’s duties hereunder, effective beginning on the Effective Date the Company shall pay to Executive an initial Base Salary at the rate of Three-Hundred Ninety Thousand Dollars ($390,000.00) per year, payable in accordance with the normal payroll practices of the Company, less required deductions for state and federal withholding tax, social security and all other employment taxes and payroll deductions. Executive’s Base Salary shall be reviewed annually by the Compensation Committee of the Board (the “Compensation Committee”) and adjustments, if any, will be made at that time. In the event Executive’s employment under this Agreement is terminated by either party, for any reason, Executive will earn the Base Salary prorated to the date of termination, except as otherwise set forth herein.
1Base Salary. The Employee shall be paid an annual base salary of US$310,000, commencing on the Effective Date (the “Base Salary”). The Base Salary will be paid in equal installments pursuant to the payroll procedures established by the Company. The Company reserves the right to adjust the Employee’s Base Salary at its discretion as required by business conditions, subject to Section 7.3 herein.
1Base Salary. Subject to the provisions of Article III of this Agreement, during the Term, Company shall pay Employee a"Base Salary" of$300,000.00 on an annualized basis or such other rate as may from time to time be approved by the Board and/or Company. Such Base Salary shall be paid in substantially equal regular periodic payments, less deductions and withholdings, in accordance with Company's regular payroll procedures, policies and practices, as such may be modified from time to time. The Base Salary shall be reviewed by the Board annually for potential adjustment on the basis of performance; and Employee shall be eligible, at Company's sole discretion, for annual salary changes consistent with Company's procedures, policies and practices. If Employee's Base Salary is increased from time to time during the Term, the increased amount shall become the Base Salary for the remainder of the Term and any extensions of the Term and for as long thereafter as required pursuant to Article III as applicable, subject to any subsequent increases.
1Base Salary. The Company shall pay Employee a base salary of Sixty Thousand US Dollars ($60,000) on an annual basis for the services Employee performs as an employee of the Company and in accordance with the terms of this Agreement. Employee will have the option to defer the base salary the first year to a reduced amount until the Company is in a position to accommodate such salary. Salary shall be paid to Employee at such times as employees of the Company are normally paid salary. Salary payments shall be subject to applicable payroll and other taxes required by law to be withheld. Commencing on the first {36673230;5} anniversary of the Effective Date, Employee's base salary shall be subject to a five percent (5%) increase on an annual basis. The Board may in its sole discretion and subject to such criteria as it determines, provide bonus compensation to the Employee. Except for his salary and the benefits provided below, the Company shall not be required to pay to Employee any other compensation.
1Base Salary. During the Term, Hut shall pay from its Canadian payroll to the Executive a salary at the rate of US$375,000.00 per annum (the “Base Salary”), less applicable deductions and withholdings, payable in accordance with the Company's regular payroll practices. The Executive's Base Salary may be increased upon annual review by the Board, at the sole discretion of the Board, and once increased shall thereafter be the Base Salary hereunder. The Executive's Base Salary will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period.
1Base Salary. During the term of this Agreement, Executive shall receive a minimum, annualized base salary of $275,000 (the “Base Salary”). Executive’s annualized base salary shall be reviewed at least annually by the Company after it goes public (it is not anticipated that there would be increases prior to that time) and, in the sole discretion of the Company, such annualized base salary may be increased (but not decreased) effective as of any date determined by the Company; provided, however, the Company may decrease Executive’s Base Salary at any time and from time to time so long as such decreases do not exceed, in the aggregate, more than 10% of Executive’s Base Salary as in effect on the Effective Date and such decreases are part of similar reductions applicable to all of the Company’s executive officers. Executive’s Base Salary shall be paid in substantially equal installments in accordance with the Company’s standard policy regarding payment of compensation to executives but no less frequently than monthly.
