Compensation Benefits Contract Clauses (117)

Compensation Benefits. (a) Base Salary. During the Employment Term, the Company shall pay to Executive an annual base salary of Three Hundred Thirty Thousand and No/100 Dollars ($330,000.00) (as the same may be increased from time to time, the "Base Salary"), which shall be payable in regular installments in accordance with the Company's customary payroll practices and procedures or, at the Company's election, in cash, but in no event less frequently than monthly, and prorated for any partial year worked. (b) Performa...nce Bonus. During the Employment Term, the Employee shall be eligible for a performance bonus pursuant to the Company's annual short-term incentive program with an annual target of up to 50% of Employee's Base Salary and can be paid in cash or stock at the Parent's discretion and subject to Board approval, where applicable. Any such performance bonus for the current measurement year, May – April, in which Employee's employment begins will be prorated, based on the number of days Employee is employed by the Company during that fiscal year. The measurement year for the performance bonus is subject to change. (c) Equity. During the Employment Term, the Employee shall be eligible for equity grants pursuant to Jushi's Equity Incentive Plan and any such equity grant will be issued at Jushi's sole discretion and subject to Jushi's Board of Director's approval. (d) Welfare Benefit Plans. During the Employment Term, Executive shall be eligible for participation in the welfare benefit plans, practices, policies and programs (including, if applicable, medical, dental, disability, employee life, group life and accidental death insurance plans and programs) maintained by the Company or its affiliates for Executives of the Company, subject in each instance to the terms and conditions of such plans, practices, policies and programs. (e) Expenses. During the Employment Term, Executive shall be entitled to reimbursement of all documented reasonable business expenses incurred by Executive in accordance with the policies, practices and procedures of the Company applicable to employees of the Company, as in effect from time to time. To the extent that any reimbursement of expenses under this Section 3(e) constitutes "deferred compensation" under Section 409A of the Internal Revenue Code of 1986 and the regulations and guidance promulgated thereunder (as amended, the "Code" and such section of the Code, "Code Section 409A"), such reimbursement shall be provided no later than December 31 of the year following the year in which the expense was incurred. The amount of expenses reimbursed in one year shall not affect the amount eligible for reimbursement in any subsequent year and the right to payment or reimbursement or in-kind benefits hereunder may not be liquidated or exchanged for any other benefit. 2 (f) Vacation. During the Employment Term, Executive shall be entitled to time off as needed, in accordance with the plans, policies, programs and practices of the Company applicable to its employees, and, in each case, subject to the consent of the CEO or the CEO's designee. (g) Withholding Taxes. All forms of compensation paid or payable to Executive, whether under this Agreement or otherwise, are subject to reduction to reflect applicable withholding and payroll taxes pursuant to any applicable law or regulation. View More

Compensation Benefits. 3.1Salary. During the Term, the Executive's base salary shall be paid in accordance with the Company's normal payroll practices in effect from time to time, at the annual rate of four hundred thousand dollars ($400,000) (commencing as of October 1, 2021) less such deductions or amounts to be withheld as required by applicable law and regulations (the "Base Salary"). In the event that the CEO, in his sole discretion, from time to time determines to increase the Base Salary, such increased amount ...shall, from and after the effective date of the increase, constitute "Base Salary" for purposes of this Agreement. 3.2Incentive Compensation. Commencing as of the Effective Date, the Executive shall be eligible to earn a bonus with respect to each fiscal year ending during the Term (an "Annual Bonus") up to 75% of the Executive's Base Salary made up as follows: For the fiscal years ending September 30, 2022 and 2023: a) 50% shall be based upon the general quality and success of the Executive's efforts during such fiscal year and b) 25% shall be based upon specific goals agreed to between the CEO and the Executive for the respective fiscal year. 2 The actual amount of any Annual Bonus earned by the Executive for each year shall be determined in good faith by the CEO in his reasonable discretion, based on the achievement of certain performance metrics established for that particular fiscal year by the CEO. An Annual Bonus, if earned in accordance with this Agreement, shall be paid no later than 100 days following the fiscal year with respect to which such bonus was earned, provided that, except as otherwise specifically provided in this Agreement (including, without limitation, Section 4.4), as a condition precedent to any bonus entitlement, the Executive must remain in employment with the Company at the time that the Annual Bonus is paid. Notwithstanding the foregoing, to the extent that Section 162(m) of the Internal Revenue Code of 1986, as amended (the "Code"), may be applicable, such Annual Bonus shall be subject to, and contingent upon, such shareholder approval as is necessary to cause the Annual Bonus to qualify as "performance-based compensation" under Section 162(m) of the Code and the regulations promulgated thereunder as well as any other required approvals. 3.3Business Expenses. The Company shall pay or reimburse the Executive for all reasonable expenses actually incurred or paid by the Executive during the Term in the performance of the Executive's services under this Agreement, upon presentation of expense statements or vouchers or such other supporting information as the Company customarily may require of its officers within 60 days after such expenses have been incurred by the Executive; provided, however, that the maximum amount available for such expenses during any period may be fixed in advance by the CEO. 3.4Paid Time Off. During the Term of this Agreement, the Executive shall be entitled to four weeks of paid time off per each fiscal year. Notwithstanding the foregoing, a total of five unused days per year shall rollover into the next year. The timing of the Executive's use of his paid time off benefits shall be subject to the reasonable approval of the CEO. 3.5Benefits. During the Term, the Executive shall be entitled to all benefits for which the Executive shall be eligible under any 401(k) plan, group insurance or other health and welfare benefit plans as well as all benefits which the Company provides to its executive employees generally, which benefits may be amended, modified or terminated in the Company's discretion. View More

Compensation Benefits. (a) Salary. During the Term of this Agreement, the Company agrees to pay Executive an annual salary of $400,000 (the "Salary"). The Salary shall be payable in accordance with the Company's regular payroll schedule and will be subject to payroll taxes and other customary payroll deductions. (b) Annual Discretionary Bonus: Following the end of each calendar year beginning with the 2022 calendar year, the Executive will be eligible to receive an annual performance bonus targeted of up to 125% of th...e Executive's Base Salary (the "Target Bonus"), based upon periodic assessments of the Executive's performance as well as the achievement of specific individual and corporate objectives determined by the Board or a committee thereof after consultation with the Executive and provided to the Executive in writing no later than the end of the first calendar quarter of the applicable bonus year. The Target Bonus must be approved by the Audit and Compensation Committee. Except as specified in Paragraph 8(b) below, no amount of annual bonus is guaranteed, and with the exception of the circumstances described in Paragraph 8(b) below, the Executive must be an employee on December 31 of the applicable bonus year in order to be eligible for any annual bonus for such year. Any bonus will be paid no later than March 15 of the calendar year following the calendar year to which the bonus relates. (c) Equity Awards. Effective as of the Effective Date, the Board or a committee thereof shall grant the Executive (i) 75,000 shares of restricted common stock of the Company and (ii) a ten (10) year option to purchase 175,000 shares of common stock of the Company, at a per share price equal to the fair market value on the Effective Date (collectively, the "Equity Awards"). The Equity Awards shall be subject to a quarterly vesting schedule and vest evenly over a three (3) year period, commencing on the Effective Date. No portion of the Equity Awards shall be vested on the Effective Date. Any options granted by the Company to the Executive that have vested shall terminate and not be exercisable ninety (90) days after of the termination of the Executive. (d) Other Benefits. During the Term of Executive's employment, Executive shall be entitled to participate the Company-funded healthcare insurance plan and in all other benefits, perquisites, vacation days, benefit plans or programs of the Company which are available generally to office employees and other employees of the Company in accordance with the terms of such plans, benefits or programs. Company will pay Executive's portions of benefit plan. During the Term, the employee will be entitled to four (4) weeks' vacation time during each year. (e) Expenses. Executive shall be reimbursed for Executive's reasonable and approved expenses related to and for promoting the business of the Company, including expenses for travel and similar items that arise out of Executive's performance of services under this Agreement. View More

Compensation Benefits. 4.1 Base Salary. Employee shall be paid at a rate which, on an annualized basis, equals two hundred seventy four thousand dollars ($274,000) per year, as adjusted pursuant to this Section 4.1 ("Base Salary"). The Base Salary shall be subject to normal payroll withholdings and RBT's standard payroll practices. For each Contract Year after the initial Contract Year, Employee's Base Salary shall be subject to increase as determined by the Board in its discretion. 4.2 Annual Bonus Program. Employee ...shall participate in any RBT annual bonus program that is adopted by RBT and that is applicable to senior officers of RBT (subject to the terms and conditions of any such program). Any such annual bonus program must be approved by the RBT Compensation Committee and shall set forth objective criteria for bonus payments based on the financial performance of RBT. Such annual bonus program also shall set forth a target bonus objective for Employee, which shall be set by the Board in its sole discretion. The actual annual bonus amount, if any, shall be paid in accordance with the terms of such program and may be paid in cash or stock incentives or a combination of cash and stock incentives. 5 4.3 Equity Incentive Awards. Employee shall be entitled to receive additional equity incentive awards at the sole discretion of the Board based on the recommendations of its Compensation Committee. Any grant of an equity incentive award shall require the approval of the Board or its Compensation Committee and be subject to the terms and conditions of the corresponding grant agreements and equity incentive plans, including without limitation pursuant to the terms of the RBT Management Incentive Program and the RBT 2014 Omnibus Incentive Plan. 4.4 Vacation and other Standard Benefits. Employee shall be entitled to six (6) weeks of paid vacation time per year. Employee may not accrue vacation time in excess of such six (6) weeks maximum. Accrual of vacation time shall be subject to the terms and conditions of RBT's vacation policy. Employee shall be entitled to health benefits in accordance with RBT's standard policies. In addition, Employee is entitled to paid holidays, sick leave and other benefits in accordance with RBT's standard policies. 4.5 Business Expenses. Employee shall be reimbursed for reasonable business expenses which he incurs in the performance of Employee's duties hereunder, in accordance with RBT's standard reimbursement policies. 4.6 Inconsistencies. In the event of any inconsistency between any provision of this Agreement and any provision of any Company Arrangement, the provisions of this Agreement shall control. View More

Compensation Benefits. 3.1Salary. 3.2Incentive Compensation. 3.3Business Expenses. 3.4Paid Time Off. 3.5Benefits.

Compensation Benefits. (a) During the Term, the Bank will pay Executive $150,000 annually (the "Base Salary") as compensation for his services under this Agreement, which will be paid on the Bank's norma l payroll schedu le. Executive's Base salary will be reviewed periodically and may be increased from time to time by the Board of Directors in their sole discretion. Except as otherwise provided in this Agreement, Executive's Base Salary may only be decreased with his consent. (b) Benefits. To the extent pern1ined und...er the applicable plan documents, Executive is entitled to participate in all benefit plans and arrangements generally availab le to employees of the Bank and in any supplementary benefits provided to senior executives of the Bank, all in accordance with the terms of such plans and programs. (c) Business Expenses: Vehicle Allowance. The Bank will reimburse Executive for all reasonable , ordinary, and necessary business expenses incurred by Executive in performing his duties as an employee of the Bank; provided that Executive must account for such expenses by providing the Bank with substantiating documentation sufficient for tax purposes. The Bank agrees to provide Executive with an automobile allowance of $10,000 per year, payable in equal installments on the Bank' s regular payroll schedule and subject to any withholding required by law. Any reimbursements that may create taxable income to Executive must be submitted for reimbursement as soon as practicable and will be paid in no event later than the 74th day after the end of Executive's taxable year in which the expenses are incurred. (d) Vacation and Holidays. In addition to paid holidays under the Bank' s policies applicable to employees generally, Executive is entitled to three weeks of paid vacation time per year in accordance with the Bank's vacation policies. Unused vacation for any year during the Tenn may not be accumulated for use in subsequent years, and Executive is not entitled to any additional compensation for failure to use vacation time. View More