Compensation and Benefits Clause Example with 5 Variations from Business Contracts
This page contains Compensation and Benefits clauses in business contracts and legal agreements. An example clause is provided at the top of the page, followed by clauses with minor variations. You can view the text differences by selecting the "Show Differences" option.
Compensation and Benefits. a. Base Salary. Executive's base salary ("Base Salary") shall be three hundred thousand dollars ($300,000) per year payable in equal amounts twice monthly. The Company Board of Directors will review executives Base Salary on an annual basis, however, Company makes no assurances that executives Base Salary will be increased during the term. b. Benefits and Vacation. Executive shall be eligible to receive such medical coverage and other benefits as are available to the senior executives of Company.... Executive shall be entitled to four (4) weeks paid vacation each year during the term in accordance with the normal policies of Company. c. Incentive Compensation. Any incentive compensation, other than equity grants, such as the potential for bonus payments is at the sole discretion of the Board of Directors. Company currently has no bonus plan in place and makes no assurances that Executive will be part of any future plan. CONFIDENTIAL - DAN L. DEAREN EMPLOYMENT AGREEMENT d. Stock Option Grant. The Company Board of Directors has approved a resolution that Executive shall be granted stock options to acquire up to sixty six thousand one hundred sixty two (66,162) options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive's Stock Option Agreement with Company. The Option may be exercised at any time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control before or within ninety (90) days following termination of the Executive's service, then 100% of the Shares subject to the Options shall vest.View More
Variations of a "Compensation and Benefits" Clause from Business Contracts
Compensation and Benefits. a. Base Salary. Executive's base salary ("Base Salary") shall be three hundred and fifty thousand dollars ($300,000) ($350,000) per year payable in equal amounts twice monthly. The Company Board of Directors will review executives Base Salary on an annual basis, however, Company makes no assurances that executives Base Salary will be increased at any time during the term. CONFIDENTIAL - NOBLETT EMPLOYMENT AGREEMENT b. Benefits and Vacation. Executive shall be eligible to receive such medical cov...erage and other benefits as are available to the senior executives of Company. Executive shall be entitled to four (4) weeks paid vacation each year (in addition to certain other company authorized paid days off applicable to all employees—approx. eight (8) such days) during the term in accordance with the normal policies of Company. c. Educational Support. The Company shall sponsor the cost for the Executive to attend UCI on a part-time basis for the purposes of gaining an executive MBA. It is acknowledged that the total cost of said program is approximately one hundred and ten thousand dollars ($110,000). d. Incentive Compensation. Any incentive compensation, other than equity grants, such as the potential for bonus payments compensation is at the sole discretion of the Board of Directors. The Company currently has no bonus plan plans currently in place and makes no assurances that Executive will be part of any future plan. CONFIDENTIAL - DAN L. DEAREN EMPLOYMENT AGREEMENT d. e. Stock Option Grant. The Company Company's Board of Directors has approved a resolution that Executive shall be granted additional stock options to acquire up to sixty six twelve thousand one four hundred sixty two (66,162) and sixty-nine (12,469) options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive's Stock Option Agreement with Company. The Option may be exercised at any time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control before or within ninety (90) days following termination of the Executive's service, then 100% one hundred percent (100%) of the Shares subject to the Options shall immediately vest. View More
Compensation and Benefits. a. Base Salary. Executive's base salary ("Base Salary") shall be three two hundred seventy five thousand dollars ($300,000) ($275,000) per year payable in equal amounts twice monthly. The Company Board of Directors will review executives Base Salary on an annual basis, however, Company makes no assurances that executives Base Salary will be increased during the term. b. Signing Bonus. Executive shall be paid a one-time cash bonus of thirty five thousand dollars ($35,000) for accepting employment... with Company. c. Benefits and Vacation. Executive shall be eligible to receive such medical coverage and other benefits as are available to the senior executives of Company. Executive shall be entitled to four (4) weeks paid vacation each year during the term in accordance with the normal policies and needs of the Company. c. d. Incentive Compensation. Any incentive compensation, other than equity grants, such as the potential for bonus payments is at the sole discretion of the Board of Directors. Company currently has no bonus plan in place and makes no assurances that Executive will be part of any future plan. CONFIDENTIAL - DAN L. DEAREN PRABODH MATHUR EMPLOYMENT AGREEMENT d. e. Stock Option Grant. The Company Board of Directors has approved a resolution that Executive shall be granted stock options to acquire up to sixty six forty five thousand one two hundred sixty two (66,162) twenty five (45,225) options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive's Stock Option Agreement with Company. The Option may be exercised at any time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control before or within ninety (90) days following termination of the Executive's service, then 100% of the Shares subject to the Options shall vest. View More
Compensation and Benefits. a. Base Salary. Executive's base salary ("Base Salary") shall be three two hundred fifty thousand dollars ($300,000) ($250,000) per year payable in equal amounts twice monthly. The Company Board of Directors will review executives Base Salary on an annual basis, however, Company makes no assurances that executives Base Salary will be increased during the term. b. Benefits and Vacation. Executive shall be eligible to receive such medical coverage and other benefits as are available to the senior ...executives of Company. Executive shall be entitled to four (4) weeks paid vacation each year during the term in accordance with the normal policies of Company. c. Incentive Compensation. Any incentive compensation, other than equity grants, such as the potential for bonus payments is at the sole discretion of the Board of Directors. Company currently has no bonus plan in place and makes no assurances that Executive will be part of any future plan. CONFIDENTIAL - DAN L. DEAREN EMPLOYMENT AGREEMENT d. Stock Option Grant. The Company Board of Directors has approved a resolution that Executive shall be granted stock options to acquire up to sixty thirty nine thousand six thousand one hundred sixty two (66,162) thirty three (39,633) options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive's Stock Option Agreement with Company. The Option may be exercised at any time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control before or within CONFIDENTIAL - GUANGQIANG JIANG EMPLOYMENT AGREEMENT ninety (90) days following termination of the Executive's service, then 100% of the Shares subject to the Options shall vest. View More
Compensation and Benefits. a. Base Salary. Executive's base salary ("Base Salary") shall be three hundred sixty thousand dollars ($300,000) ($360,000) per year payable in equal amounts twice monthly. The Company Board of Directors will review executives the Executive's Base Salary on an annual basis, however, the Company makes no assurances that executives Base Salary will be increased during the term. b. Benefits and Vacation. Executive shall be eligible to receive such medical coverage and other benefits as are availabl...e to the senior executives of Company. Executive shall be entitled to four (4) weeks paid vacation each year during the term in accordance with the normal policies of Company. c. Incentive Compensation. Any incentive compensation, other than equity grants, such as the potential for bonus payments is at the sole discretion of the Board of Directors. Company currently has no bonus plan in place and makes no assurances that Executive will be part of any future plan. CONFIDENTIAL - DAN L. DEAREN EMPLOYMENT AGREEMENT d. Stock Option Grant. The Company Board of Directors has approved a resolution that Executive shall be granted stock options to acquire up to sixty six ninety nine thousand one hundred sixty two (66,162) eighty three (99,183) options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive's Stock Option Agreement with Company. The Option may be exercised at any time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control CONFIDENTIAL - RAYMOND W. COHEN EMPLOYMENT AGREEMENT before or within ninety (90) days following termination of the Executive's service, then 100% of the Shares subject to the Options shall vest. View More
Compensation and Benefits. a. Base Salary. Executive's base salary ("Base Salary") shall be three two hundred fifty thousand dollars ($300,000) ($250,000) per year payable in equal amounts twice monthly. The Company Board of Directors will review executives Base Salary on an annual basis, however, Company makes no assurances that executives Base Salary will be increased during the term. b. Benefits and Vacation. Executive shall be eligible to receive such medical coverage and other benefits as are available to the senior ...executives of Company. Executive shall be entitled to four (4) weeks paid vacation each year during the term in accordance with the normal policies of Company. c. Incentive Compensation. Any incentive compensation, other than equity grants, such as the potential for bonus payments is at the sole discretion of the Board of Directors. Company currently has no bonus plan in place and makes no assurances that Executive will be part of any future plan. CONFIDENTIAL - DAN L. DEAREN MICHAEL WILLIAMSON EMPLOYMENT AGREEMENT d. Stock Option Grant. The Company Board of Directors has approved a resolution that Executive shall be granted stock options to acquire up to sixty six forty five thousand one two hundred sixty two (66,162) twenty five (45,225) options to purchase common stock in the company in accordance with the terms and conditions of the Plan and Executive's Stock Option Agreement with Company. The Option may be exercised at any time after the Date of Grant. The Options vest twenty five percent (25%) on the Date of Grant and the remainder vests 1/36 per month thereafter starting on the Vesting Commencement Date. In addition, if the Company is subject to a Change in Control before or within ninety (90) days following termination of the Executive's service, then 100% of the Shares subject to the Options shall vest. View More
