Employment Year 1 definition

Employment Year 1 means the first twelve months of employment from the Effective Date, "Employment Year 2" shall mean the 12 month period following Employment Year 1, "Employment Year 3" shall mean the 12 month period following Employment Year 2, "Employment Year 4" shall mean the 12 month period following Employment Year 3, and "Employment Year 5" shall mean the 12 month period following Employment Year 4.
Sample 1Sample 2Sample 3

Examples of Employment Year 1 in a sentence

  • If the Employer terminates this Agreement for cause, the Executive will be entitled to receive his Salary through the date such termination is effective and any option for Parent Common Stock issued in any year subsequent to Employment Year 1 shall be cancelled.

  • On The Indicated Percentage Of The Bargaining Unit Member’s Actual Appendix A Salary During His/Her Final Year of Employment Year 1 Year 2 Year 3 Year 4 Year 5 June 30, 2006 15% 15% 15% 15% 15% June 30, 2007 15% 13% 12% 11% None June 30, 2008 15% 12% 10% None None Payments will be made on or before June 30 of the year they are due.

  • The Employer shall have the right to cancel and terminate this Agreement, and to discharge the Employee for "good cause", or, after Employment Year 1, without cause upon seven (7) days' prior written notice to Employee.

  • The Executive will be paid an annual salary of $243,840.00 for Employment Year 1 and the Salary for each employment year thereafter shall be set by the Boardof Directors of the Employer which in no event shall be less than the Salary for Employment Year 1 (the "Salary").

  • If the Employer terminates this Agreement for cause, the Executive will be entitled to receive her Salary through the date such termination is effective and any option for Parent Common Stock issued in any year subsequent to Employment Year 1 shall be cancelled.

  • The Executive will be paid an annual salary of $243,840.00 for Employment Year 1 and the Salary for each employment year thereafter shall be set by the Board of Directors of the Employer which in no event shall be less than the Salary for Employment Year 1 (the "Salary").

  • The Executive will be paid an annual salary of $273,000.00 for Employment Year 1 and the Salary for each employment year thereafter shall be set by the Board of Directors of the Employer which in no event shall be less than the Salary for Employment Year 1 (the "Salary").

  • The Executive will be paid an annual salary of $100,000.00 for Employment Year 1; $103,000 for Employment Year 2 and $106,090.00 for Employment Year 3 (the "Salary"), which will be payable in equal periodic installments according to the Employer's customary payroll practices, but no less frequently than monthly, and shall be subject to all applicable withholding and other applicable taxes as required by law.

  • The Executive will be paid an annual salary of $100,800.00 for Employment Year 1; $103,825.00 for Employment Year 2 and $106,940.00 for Employment Year 3 (the "Salary"), which will be payable in equal periodic installments according to the Employer's customary payroll practices, but no less frequently than monthly, and shall be subject to all applicable withholding and other applicable taxes as required by law.

  • On the first business day of Employment Year 1, the Executive shall be granted and issued options for 200,000 shares of restricted Parent Common Stock (25,000 of which shall be attributable to Employment Year 1, 50,000 of which shall be attributable to Employment Year 2, and 125,000 of which shall be attributable to Employment Year 3) (the "Options").

Related to Employment Year 1

  • Employment Year means each twelve-month period, or part thereof, during which Employee is employed hereunder, commencing on the Commencement Date and on the same day of the subsequent calendar year and each consecutive 12 month period thereafter.

  • Year of Employment means a period of service of 12 months.

  • Post-Employment Period is defined in Section 8.2.

  • Agreement Year means each twelve (12) month period of the term of this Agreement beginning on the first day of the calendar year except for the “First Agreement Year” which shall mean the period commencing on the Effective Date and ending on December 31, 2003.

  • Grant Year has the same meaning as in subclause 1(1) of Schedule 1 of HESA; ‘HESA’ means the Higher Education Support Xxx 0000; ‘maximum basic grant amount’ or ‘MBGA’ has the same meaning as in subclause 1(1) of Schedule 1 of HESA.

  • Annual Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Severance Period means the period of time commencing on the date of the first occurrence of a Change in Control and continuing until the earlier of (i) the second anniversary of the occurrence of the Change in Control and (ii) the Executive’s death.

  • Payment Year means the calendar year during which the applicable Initial Year Payments or Annual Payments are due pursuant to subsection V.B. Payment Year 1 is 2022, Payment Year 2 is 2023 and so forth. References to payment “for a Payment Year” mean the Initial Year Payments or Annual Payment due during that year. References to eligibility “for a Payment Year” mean eligibility in connection with the Initial Year Payments or Annual Payment due during that year.

  • Bonus Period means the period for which a Bonus is payable. Unless otherwise specified by the Board, the Bonus Period shall be the fiscal year of the Company.

  • Service Year means fiscal year, except that:

  • Target Annual Bonus has the meaning set forth in Subsection 3b.

  • Annual Compensation means an amount equal to the greater of:

  • transition year means the financial year of an issuer or business in which the issuer or business changes its financial year-end;

  • Termination Year means the calendar year in which the Employment Period is terminated.

  • Employment Date means the first date as of which an Employee is credited with an Hour of Service, provided that, in the case of a Break in Service, the Employment Date shall be the first date thereafter as of which an Employee is credited with an Hour of Service.

  • Date of Termination means the date of receipt of the Notice of Termination or any later date specified therein, as the case may be; provided, however, that (i) if the Executive's employment is terminated by the Company other than for Cause or Disability, the Date of Termination shall be the date on which the Company notifies the Executive of such termination and (ii) if the Executive's employment is terminated by reason of death or Disability, the Date of Termination shall be the date of death of the Executive or the Disability Effective Date, as the case may be.

  • Date of Employment means the first day an Employee performs an Hour of Service.

  • Vacation Year means the twelve (12) month period commencing on the first (1st) day of April in each calendar year and concluding on the thirty-first (31st) day of March of the following calendar year.

  • Employment Termination Date means, with respect to a Participant, the first day upon which the Participant no longer has an employment or service relationship with the Company or any Related Company.

  • Target Bonus means Executive’s annual (or annualized, as applicable) target bonus in effect immediately prior to Executive’s Qualifying Termination or, if Executive’s Qualifying Termination occurs during the Change in Control Period and the amount is greater, Executive’s annual (or annualized, if applicable) target bonus in effect immediately prior to the Change in Control.

  • Current Annual Compensation means the greater of:

  • Vesting Year means a unit of Service credited to a Participant pursuant to Section 9.2 for purposes of determining his vested interest in his Account.

  • Period of Employment shall include any extension thereof pursuant to the preceding sentence. Provision of notice that the Period of Employment shall not be extended or further extended, as the case may be, shall not constitute a breach of this Agreement and shall not constitute “Good Reason” for purposes of this Agreement. Notwithstanding the foregoing, the Period of Employment is subject to earlier termination as provided below in this Agreement.

  • Employment benefits means all benefits provided or made

  • Assessment year means the period of twelve months commencing on the 1st day of April every year;

  • Annual Salary means the salary given under this Part.