Subsequent Employment definition
Examples of Subsequent Employment in a sentence
Subsequent Compensation shall include any and all compensation earned through Coach’s Subsequent Employment including, but not limited to base salary, additional compensation, performance incentive compensation, consulting fees, bonuses, and any other compensation.
Subsequent Employment shall include working in the capacity of employee for another employer, as a consultant, as a self-employed person, or as an independent contractor.
The employment of the Executive hereunder shall terminate at the end of the Initial Employment Term or any Subsequent Employment Term if either party provides notice of termination at least 90 days prior to expiration of the Initial Employment Term or Subsequent Employment Term, or if earlier terminated by the Board of Directors of the Company pursuant to this Section 6.
Failure of Coach to comply with this subsection shall make ICAA’s payment obligation herein voidable at ICAA’s option, and in the event Coach’s Subsequent Compensation is below an Actual Market Rate, Coach expressly agrees that ICAA may assign a market value of compensation to Coach’s Subsequent Employment based upon ICAA’s analysis of similar positions.
Employment shall thereafter continue on the basis hereby established for successive one year terms unless, more than ninety days prior to the expiration of the Initial Employment Term or any successive one year term, either the Executive or the Company provides the other with written notice that this Agreement will not be renewed (the "Subsequent Employment Term" and with the Initial Employment Term, the "Employment Term").
The Company shall have the right to terminate the Executive's employment at any time prior to the expiration of the Initial Employment Term or any Subsequent Employment Term for any reason without Cause with at least ninety days written notice.
During the Subsequent Employment period, Employee shall be subject to the direction and supervision of the Chief Executive Officer of HoldCo and shall have a title, duties and responsibilities assigned to him by the Chief Executive Officer of HoldCo that are not inconsistent with Employee’s position during the Initial Employment Period; provided, however, that during the Subsequent Employment Period Employee shall not be required to work more than the equivalent of twelve weeks per year.
During the Subsequent Employment Period, ▇▇▇▇▇▇▇ Water shall pay to Employee a base salary for the services to be rendered by Employee hereunder of at least $1,500,000 per annum.
During the Subsequent Employment Period, any participation by Employee in a bonus plan shall be at the discretion of, and on terms and conditions to be established by, the Compensation Committee of the Board of Directors of HoldCo.
The employment of the Employee hereunder shall not automatically terminate at the end of the Initial Employment Term, but shall continue thereafter for Subsequent Employment Terms in the manner contemplated by Section 3, unless otherwise terminated in the manner provided in this Section 8.