Base Compensation Clause Example from Business Contracts

Base Compensation. Initially, the Company shall pay to Executive a base compensation (the "Base Compensation") of $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 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 committee shall review... Executive's performance from time to time for purposes of, among other things, determining the appropriateness of increasing 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 increased pursuant to this Section 4. View More