Minimum Base Salary definition
Examples of Minimum Base Salary in a sentence
The Base Salary shall be reviewed and re-established no less than annually by the Compensation Committee based on its review of current salaries and other compensation offered by peer group companies; however, the Base Salary shall not be less than the Minimum Base Salary.
The minimum base salary and the salaries of all Employees will increase as follows: Year Effective Date Increase Amount Minimum Base Salary 2016 * 1.0%* $32,496* 2017 July 1, 2017 1.25% $34,000 2018 July 1, 2018 1.5% $34,600 2019 July 1, 2019 1.75% $34,900 *This wage increase will take effect as of the first day of the month that follows the date of ratification of this renewal Agreement (the "Effective Date"), and will be implemented within the first two pay periods that follow the date of ratification.
Executive’s base salary shall be reviewed annually by the Compensation Committee of the Board and may be increased in the sole discretion of the Board (such base salary, as the same may be increased, is hereinafter referred to as the “Base Salary”); provided, however that the Base Salary shall at no time during the Term be below the Minimum Base Salary.
If the Company terminates Employee without Good Cause, the Company shall pay the Minimum Base Salary in effect at the date of termination, Benefits and Perquisites required by this Agreement to Employee (or his heirs or estate upon his death), to be paid when and as if they would have been paid but for the Employee's termination, for the full remaining Term of this Agreement.
Base Salary shall not be reduced below the Minimum Base Salary without the Executive’s consent.
Termination of Executive’s employment for Disability shall become effective on the date that disability benefits, payable to Executive in an amount equal to at least sixty-five (65%) percent of Executive’s then Minimum Base Salary commence under any long-term disability plan maintained by the Company or on such later date as the Company may specify in a written notice to the Executive.
Upon Termination of Executive for Cause, Executive shall be entitled to receive only the Minimum Base Salary, the amount of any unpaid performance bonus earned in any complete fiscal year of the Company preceding the date of termination, and any benefits as are due Executive through the effective date of such Termination.
If employment not found by Employee following --------------------------- Guaranteed Severance Pay Period, an additional six (6) months of Annual Minimum Base Salary.
Upon the death of Employee, the Company shall pay the Minimum Base Salary in effect at the date of death, Benefits and Perquisites required by this Agreement to Employee's heirs or estate, to be paid when and as if they would have been paid but for the Employee's death, for the full remaining Term of this Agreement.
Upon a termination for Cause, Executive shall be entitled to receive only his Minimum Base Salary, the amount of any unpaid Annual Bonus earned in any complete fiscal year of the Company preceding the date of Termination, and any benefits as are due Executive through the effective date of such Termination.