Grouped Into 14 Collections of Similar Clauses From Business Contracts
This page contains Base Compensation clauses in business contracts and legal agreements. We have organized these clauses into groups of similarly worded clauses.
Base Compensation. For his services in the Officer Position, the Bank agrees to pay Executive a base salary at the rate of $150,000 per annum, payable in accordance with customary payroll practices. During the Term of this Agreement, the Board will review the level of Executive's base salary at least annually, based upon factors deemed relevant, in order to determine Executive's base salary through the remaining Term of the Agreement.
Base Compensation. For his services in the Officer Position, Positions, the Bank agrees to pay Executive a base salary at the rate of $150,000 $208,320 per annum, payable in accordance with customary payroll practices. During the Term of this Agreement, the Board will review the level of Executive's base salary at least annually, based upon factors deemed relevant, in order to determine Executive's base salary through the remaining Term of the Agreement.
Base Compensation. For his services in the Officer Position, as President and Chief Executive Officer, the Bank agrees to pay Executive a an annual base salary at the rate of $150,000 $305,351.00 per annum, year, payable in accordance with customary payroll practices. During the Term term of this Agreement, the Board will review the level of Executive's base salary at least annually, based upon factors deemed relevant, in order to determine Executive's base salary through the remaining Term term of the Agreement.
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Base Compensation. (a) Salary. For all the services rendered by you in any capacity under this Agreement, the Company agrees to pay you an annual base salary ("Salary") at the rate of Seven Hundred Fifty Thousand Dollars ($750,000), less applicable deductions and withholding taxes, in accordance with the Company's payroll practices as they may exist from time to time. During the Term of this Agreement, your Salary will be reviewed annually and may be increased, but not decreased. Any such increase shall be made at... a time, and in an amount, that the Company shall determine in its discretion. (b) Bonus Compensation. You also shall receive annual bonus compensation ("Bonus") during your employment with the Company under this Agreement, determined and payable as follows: (i) Your Bonus for each calendar year during your employment with the Company under this Agreement will be determined in accordance with the guidelines of the Company's short-term incentive program or any successor thereto (the "STIP"), as such guidelines may be amended from time to time without notice in the discretion of the Company. (ii) Beginning with the 2020 calendar year, your target bonus ("Target Bonus") for each calendar year during your employment with the Company under this Agreement shall be 100% of your Salary in effect on November 1st of such calendar year or the last day of your employment, if earlier. For purposes of clarity and avoidance of doubt, your Target Bonus for the 2019 calendar year will be equal to 100% of your base salary in effect on November 1, 2019 (i.e., $675,000). (iii) Your Bonus for any calendar year shall be payable, less applicable deductions and withholding taxes, between January 1st and March 15th of the following calendar year, except as otherwise provided in the CBS Retention Plan Letter (as defined in paragraph 15 below). (iv) Except as otherwise set forth herein, you must be employed on the last day of a calendar year to receive a Bonus for such calendar year. However, if, prior to the last day of a calendar year, your employment with the Company terminates, the Company may, in its discretion, choose to pay you a prorated Bonus, in which case such prorated Bonus will be determined in accordance with the guidelines of the STIP and payable in accordance with paragraph 3(b)(iii). (c) Long-Term Incentive Compensation. Beginning with the Company's annual grant for fiscal year 2021 and thereafter during your employment with the Company or any of its affiliates, you shall be eligible to receive annual grants of long-term incentive compensation under the CBS Corporation 2009 Long-Term Incentive Plan (or any successor Richard M. Jones as of November 19, 2019 Page 3 plan thereto) (the "LTIP"), as may be amended from time to time without notice in the discretion of the Company, with a target long-term incentive value equal to Seven Hundred Fifty Thousand Dollars ($750,000) (it being understood and agreed that you have already received your annual LTIP grant for fiscal years 2019 and 2020, in each case with a target long-term incentive value of $750,000). The precise amount, form (including equity and equity-based awards, which for purposes of this Agreement are collectively referred to as "equity awards") and timing of any such long-term incentive award, if any, shall be determined in the discretion of the Compensation Committee of the Company's Board of Directors (the "Committee").View More
Base Compensation. (a) Salary. For all the services rendered by you in any capacity under this Agreement, the Company CBS agrees to pay you an annual base salary ("Salary") at the rate of Seven Nine Hundred Fifty Thousand Dollars ($750,000), ($950,000) per annum, less applicable deductions and Jonathan Anschellas of January 1, 2019Page 2 withholding taxes, in accordance with the Company's CBS's payroll practices as they may exist from time to time. During the Term of this Agreement, your Salary will be reviewed an...nually and may be increased, but not decreased. Any and such increase increase, if any, shall be made at a time, and in an amount, that the Company CBS shall determine in its discretion. (b) Bonus Compensation. You also shall be eligible to receive annual bonus compensation ("Bonus") during your employment with the Company CBS under this Agreement, determined and payable as follows: (i) follows:(i) Your Bonus for each calendar year during your employment with the Company CBS under this Agreement will be determined in accordance with the guidelines of the Company's CBS short-term incentive program or any successor thereto (the "STIP"), as such guidelines may be amended from time to time without notice in the discretion of the Company. CBS. (ii) Beginning with the 2020 calendar year, your Your target bonus ("Target Bonus") for each calendar year during your employment with the Company CBS under this Agreement shall be 100% of your Salary in effect on November 1st of such calendar year or the last day of your employment, if earlier. For purposes of clarity and avoidance of doubt, your Target Bonus for the 2019 calendar year will be equal to 100% of your base salary in effect on November 1, 2019 (i.e., $675,000). (iii) Your Bonus for any calendar year shall be payable, less applicable deductions and withholding taxes, between January 1st and March 15th of the following calendar year, except as otherwise provided in the CBS Retention Plan Letter (as defined in paragraph 15 below). year. (iv) Except as otherwise set forth herein, you must be employed on the last day of a calendar year to receive a Bonus for such calendar year. However, if, if your employment with CBS terminates prior to the last day of a calendar year, your employment with the Company terminates, the Company CBS may, in its discretion, choose to pay you a prorated Bonus, in which case such prorated Bonus will be determined in accordance with the guidelines of the STIP and payable in accordance with paragraph 3(b)(iii). (c) Long-Term Incentive Compensation. Beginning with the Company's annual grant for fiscal year 2021 and thereafter during During your employment with the Company or any of its affiliates, under this Agreement, you shall be eligible to receive annual grants of long-term incentive compensation under the CBS Corporation 2009 Long-Term Incentive Plan (or any successor Richard M. Jones as of November 19, 2019 Page 3 plan thereto) (the "LTIP"), as may be amended from time to time without notice in the discretion of the Company, CBS. Beginning with 2019, you shall have a target long-term incentive value equal to Seven One Million One Hundred Fifty Thousand Dollars ($750,000) (it being understood and agreed that you have already received your annual LTIP grant for fiscal years 2019 and 2020, in each case with a target long-term incentive value of $750,000). ($1,100,000). The precise amount, form (including equity and equity-based awards, which for purposes of this Agreement are collectively referred to as "equity awards") and timing of any such long-term incentive award, if any, shall be determined in the discretion of the Compensation Committee of the Company's CBS Board of Directors (the "Committee"). "Compensation Committee"). Jonathan Anschellas of January 1, 2019Page 3 4. Benefits. You shall participate in all CBS vacation, medical, dental, life insurance, long-term disability insurance, retirement, long-term incentive and other benefit plans and programs applicable generally to other senior executives of CBS and its subsidiaries as CBS may have or establish from time to time and in which you would be eligible to participate under the terms of the plans, as may be amended from time to time. This provision shall not be construed to either require CBS to establish any welfare, compensation or long-term incentive plans, or to prevent the modification or termination of any plan once established, and no action or inaction with respect to any plan shall affect this Agreement.5. Business Expenses, Etc. During your employment under this Agreement, CBS shall reimburse you for such reasonable travel and other expenses incurred in the performance of your duties as are customarily reimbursed to CBS executives at comparable levels. Such travel and other expenses shall be reimbursed by CBS as soon as practicable in accordance with CBS's established guidelines, as may be amended from time to time, but in no event later than December 31st of the calendar year following the calendar year in which you incur the related expenses. View More
Base Compensation. The Company shall pay to Executive a base compensation (the "Base Compensation") of $400,000 per year (prorated for any partial year), payable in accordance with the Company's regular payroll practices and shall be subject to all applicable tax withholdings and deductions. The Company shall review Executive's performance from time to time for purposes of, among other things, determining the appropriateness of increasing or decreasing his Base Compensation hereunder. For purposes of the Agreement..., the term "Base Compensation" as of any point in time shall refer to the Base Compensation as adjusted pursuant to this Section 4.View More
Base Compensation. The Initially, the Company shall pay to Executive a base compensation (the "Base Compensation") of $400,000 $280,000 per year (prorated for any partial year), payable in accordance with equal bimonthly installments. In addition, each year during the Company's regular payroll practices and term of this Agreement, Executive shall be subject to all applicable tax withholdings and deductions. The Company shall review Executive's performance from time to time reviewed for purposes of, among other thi...ngs, of determining the appropriateness of increasing or decreasing his Base Compensation hereunder. For purposes of the Agreement, the term "Base Compensation" as of any point in time shall refer to the Base Compensation as adjusted pursuant to this Section 4. View More
Base Compensation. The Initially, the Company shall pay to Executive a base compensation (the "Base Compensation") of $400,000 $240,000 per year (prorated for any partial year), payable in accordance with the Company's regular payroll practices and shall be subject to all applicable tax withholdings and deductions. The Company Base Compensation shall be increased to $450,000 per year (prorated for any partial year) after an IPO, less applicable tax withholdings and deductions. The Board or its compensation committ...ee shall review Executive's performance from time to time for purposes of, among other things, determining the appropriateness of increasing or decreasing his Base Compensation hereunder. For purposes of the Agreement, the term "Base Compensation" as of any point in time shall refer to the Base Compensation as adjusted increased pursuant to this Section 4. View More
Base Compensation. For all services rendered by Employee under this Employee Agreement, the Company agrees to pay Employee the rate of $420,000 per year ($35,000 per month), which shall be payable to Employee not less frequently than monthly, or as is consistent with the Company's practice for its other employees. Bonus Compensation. Employee's annual bonus target amount is $210,000 and will be based on the Company achieving targets as shall be set by the Board of Directors. Employee shall be eligible to receive a...dditional bonus compensation to be determined by the Board of Directors from time to time in their sole discretion.View More
Base Compensation. For all services rendered by Employee under this Employee Agreement, the Company agrees to pay Employee the rate of $420,000 $400,000 per year ($35,000 ($33,333.33 per month), which shall be payable to Employee not less frequently than monthly, or as is consistent with the Company's practice for its other employees. Bonus Compensation. Employee's annual bonus target amount is $210,000 $200,00 and will be based on the Company achieving targets as shall be set by the Board of Directors. Employee s...hall be eligible to receive additional bonus compensation to be determined by the Board of Directors from time to time in their sole discretion. View More
Base Compensation. a. During the term of the Agreement the Bank agrees to pay the Executive a base salary at the rate of $358,713 per year, payable in accordance with customary payroll practices. b. The Board shall review, at least annually, the rate of the Executive's base salary based upon factors they deem relevant. c. In the absence of action by the Board, the Executive shall continue to receive base salary at the annual rate specified on the Effective Date or, if another rate has been established under the pr...ovisions of this Section 4, the rate last properly established by action of the Board under the provisions of this Section 4.View More
Base Compensation. a. During the term of the Agreement the a.The Bank agrees to pay Executive during the Executive term of this Agreement a base salary at the rate of $358,713 $80,000 per year, payable in accordance with customary payroll practices. b. The b.The Board shall review, at least annually, review annually the rate of the Executive's base salary based upon factors they deem relevant. c. In relevant, and may maintain or increase her salary, provided that no such action shall reduce the rate of salary belo...w the rate in effect on the Effective Date. c.In the absence of action by the Board, the Executive shall continue to receive base salary at the annual rate specified on the Effective Date or, if another rate has been established under the provisions of this Section 4, the rate last properly established by action of the Board under the provisions of this Section 4. View More
Base Compensation. a. During the term of the Agreement the Bank agrees to pay the Executive a base salary at the rate of $358,713 $655,000 per year, payable in accordance with customary payroll practices. b. The Board shall review, at least annually, the rate of the Executive's base salary based upon factors they deem it deems relevant. c. In the absence of action by the Board, the Executive shall continue to receive the base salary at the annual rate specified on the Effective Date or, if another rate has been es...tablished under the provisions of this Section 4, the rate last properly established by action of the Board under the provisions of this Section 4. 2 5. Bonuses. The Executive shall be eligible to participate in discretionary bonuses or other incentive compensation programs that the Company and/or the Bank may award from time to time to senior management employees pursuant to bonus plans or otherwise. View More
Base Compensation. a. During the term of the Agreement the The Bank agrees to pay the Executive a base salary at the rate of $358,713 $162,740 per year, payable in accordance with customary payroll practices. b. The Board shall review, at least annually, review the rate of the Executive's base salary based upon factors they deem relevant. it deems relevant, and may maintain or increase her salary, provided that no such action shall reduce the rate of salary below the rate set forth in paragraph a. of this Section ...4. All salary reviews will take place in connection with Executive's annual performance review. c. In the absence of action by the Board, the Executive shall continue to receive base salary at the annual rate specified on the Effective Date in paragraph a. of this Section 4. or, if another rate has been established under the provisions of this Section 4, the rate last properly established by action of the Board under the provisions of this Section 4. View More
Base Compensation. You will be paid an annual base salary of four hundred fifty thousand dollars ($450,000) (the "Base Salary"), less applicable deductions and withholdings, to be paid each month in accordance with the Company's payroll practices as may be in effect from time to time. Your total compensation will be reviewed by the Compensation Committee of the Board (the "Compensation Committee") at least annually, and you will be entitled to such increases in Base Salary and/or Performance Bonus (as defined belo...w) during your employment as will be recommended by the Compensation Committee and approved by the Board, in its sole discretion, taking into account your performance and that of the Company, and other factors considered relevant by the Board.View More
Base Compensation. You will be paid an annual base salary of four three hundred fifty thousand dollars ($450,000) ($300,000) (the "Base Salary"), less applicable deductions and withholdings, to be paid each month in accordance with the Company's payroll practices as may be in effect from time to time. Your total compensation will be reviewed by the Compensation Committee of the Board of Directors (the "Compensation Committee") at least annually, and you will be entitled to such increases in Base Salary and/or Perf...ormance Bonus (as defined below) during your employment as will be recommended by the Compensation Committee and approved by the Board, Board of Directors, in its sole discretion, taking into account your performance and that of the Company, and other factors considered relevant by the Board. Board of Directors. View More
Base Compensation. As of the Effective Date, your base salary will be increased to the rate of $15,384.62 per bi-weekly pay period (equivalent to an annualized rate of $400,000), less all applicable federal, state, and local taxes and withholdings, such base salary to be paid in installments in accordance with the Company's standard payroll practices. Such base salary may be adjusted from time to time in accordance with normal business practices and in the sole discretion of the Company.
Base Compensation. As of the Effective Date, your base salary will be increased to the rate of $15,384.62 $19,231 per bi-weekly pay period (equivalent to an annualized rate of $400,000), $500,000), less all applicable federal, state, and local taxes and withholdings, such base salary to be paid in installments in accordance with the Company's standard payroll practices. Such base salary may be adjusted from time to time in accordance with normal business practices and in the sole discretion of the Company.
Base Compensation. Subject to such deductions as the Company may from time to time be required to make pursuant to law, governmental regulation or order, the Company agrees to pay to Speer a base cash salary of $350,000 per annum. Payments of base salary shall be made in accordance with the normal payroll practices of the Company.
Base Compensation. Subject to such deductions as the Company may from time to time be required to make pursuant to law, governmental regulation or order, the Company agrees to pay to Speer Kennedy a base cash salary of $350,000 $300,000 per annum. Payments of base salary shall be made in accordance with the normal payroll practices of the Company.
Base Compensation. As the base compensation for all services to be rendered by the Executive to the Company, the Company agrees to pay to the Executive, and the Executive shall accept, a salary at a rate of $400,000.00 per annum, payable on a bi-weekly basis in equal installments of $15,384.62 each, subject to such deductions and withholdings as may be required by law. Periodically, the Board will review the salary of the Executive, taking into consideration such factors as the Executive's performance and such oth...er matters as it deems relevant and, in its discretion alone, may increase the salary of the Executive to such rate as the Board deems proper; provided that the Company shall in no event be required to grant any such increase.View More
Base Compensation. Section 4 of the Agreement is hereby replaced in its entirety by the following: "4. Base Compensation. As the base compensation for all services to be rendered by the Executive to the Company, the Company agrees to pay to the Executive, and the Executive shall accept, accepts, a salary at a rate of $400,000.00 $325,000 per annum, payable on a bi-weekly basis in arrears in equal installments of $15,384.62 each, monthly installments, subject to such deductions and withholdings as may be required b...y law. Periodically, the Board will review the salary of the Executive, taking into consideration such factors as the Executive's performance and such other matters as it deems relevant and, in its discretion alone, may increase the salary of the Executive to such rate as the Board deems proper; proper, provided that the Company shall in no event be required to grant any such increase. increase." View More
Base Compensation. Initially, the Company shall pay to Executive a base compensation (the "Base Compensation") of $210,000 per year (prorated for any partial year), payable in equal bimonthly installments. Effective January 1, 2022, Executive's Base Compensation shall be increased to $325,000. In addition, each year during the term of this Agreement, Executive shall be reviewed for purposes of determining the appropriateness of increasing Executive's Base Compensation hereunder. For purposes of the Agreement, the ...term "Base Compensation" as of any point in time shall refer to the Base Compensation as adjusted pursuant to this Section 4. 2 5. Bonuses. In addition to Executive's Base Compensation, Executive shall be eligible to earn an annual discretionary bonus beginning in fiscal year 2022 with a target amount of 40% of Base Compensation (the "Target Bonus") at the time of payment, less all applicable withholdings and deductions (such annual bonus, the "Bonus"); provided, for calendar year 2021, Executive shall be eligible to earn an additional discretionary bonus as determined by the Company. Any Bonus shall be determined at the Company's sole discretion and shall be based on factors, including but not limited to, achievement of certain performance objectives established by the Company's Board and Executive's achievement of certain individual performance objectives which shall be established by Executive and Executive's Supervisor. The payment of the Bonus will be made in the fiscal year following the fiscal year for which it is earned, at such time that bonuses are paid to other executives (or as otherwise determined by the Board), but no later than the fifteenth day of the third month following the end of the fiscal year for which it is earned. Other than in case of termination for Cause or voluntary resignation without Good Reason, in the event Executive is retained by the Company for less than the full fiscal year for which a Bonus is earned pursuant to this Section 5, Executive shall be entitled to receive a pro-rated Bonus for such fiscal year based on the number of days Executive was retained by the Company during such fiscal year divided by 365 ( the "Pro Rata Bonus"), which shall be paid at the same time that such Pro Rata Bonus would ordinarily be paid.View More
Base Compensation. Initially, the Company shall pay to Executive a base compensation (the "Base Compensation") of $210,000 per $280,000 for calendar year 2021 (prorated for any partial year), payable in equal bimonthly installments. Effective January 1, 2022, 2022 Executive's Base Compensation shall be increased to $325,000. $500,000. In addition, each year during the term of this Agreement, Executive shall be reviewed for purposes of determining the appropriateness of increasing Executive's Base Compensation here...under. For purposes of the Agreement, the term "Base Compensation" as of any point in time shall refer to the Base Compensation as adjusted pursuant to this Section 4. 2 5. Bonuses. In addition to Executive's Base Compensation, Executive shall be eligible given the opportunity to earn an annual discretionary bonus beginning in fiscal (the "Bonus") of 2% of the Company's EBITDA with respect to an applicable year 2022 with a target amount of 40% of Base Compensation for which the Bonus is payable (the "Target Bonus") at the time of payment, less all applicable withholdings and deductions (such annual bonus, the "Bonus"); Year"), provided, for calendar year 2021, Executive however, that such Bonus shall be eligible to earn an additional discretionary bonus as determined by the Company. Any not exceed two times (2x) Executive's Base Compensation. The Bonus shall be determined at the Company's sole discretion and shall be based on factors, including but not limited to, achievement of certain performance objectives established paid by the Company's Board and Executive's achievement of certain individual performance objectives which shall be established by Executive and Executive's Supervisor. The payment of the Bonus will be made in the fiscal year following the fiscal year for which it is earned, at such time that bonuses are paid to other executives (or as otherwise determined by the Board), but no later than the fifteenth day of the third month following the end of the fiscal year for which it is earned. immediately following the Target Year. Other than in case of termination for Cause or voluntary resignation without Good Reason, in the event Executive is retained by the Company for less than the full fiscal year Target Year for which a Bonus is earned pursuant to this Section 5, Executive shall be entitled to receive a pro-rated Bonus for such fiscal year Target Year based on the number of days Executive was retained by the Company during such fiscal year Target Year divided by 365 ( the (the "Pro Rata Bonus"), which Bonus"). In addition to the foregoing, Executive shall be paid at eligible to earn additional discretionary bonuses as determined by the same time that such Pro Rata Bonus would ordinarily Board or its Compensation Committee in their sole discretion. The determinations of the Board or its Compensation Committee with respect to Bonuses will be paid. final and binding. View More
