Compensation Clause Example with 6 Variations from Business Contracts

Compensation. 2.1 Salary. Executive’s Base Salary shall be reviewed by the Board of Directors (the “Board”) for possible adjustment annually. 2.2 Bonus. Executive will be eligible for an annual discretionary bonus of up to 50% of Executive’s Base Salary. Executive’s annual target bonus percentage, whether Executive receives an annual bonus for any given year, and the amount of any such annual bonus, will be determined by the Board in its sole discretion based upon the Company’s and Executive’s achievement of ...objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be an active employee on the date any Annual Bonus is paid in order to earn any such Annual Bonus. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executive’s employment terminates for any reason before the date Annual Bonuses are paid. 2.3 Standard Company Benefits. Executive shall continue to be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time. 2.4 Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in furtherance or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy and requirements of the Internal Revenue Service as in effect from time to time. 2.5 Equity. Executive has been granted options to purchase shares of the Company’s Common Stock (the “Options”), the terms of which shall continue to be governed in all respects by the governing plan documents, grant notices and stock option agreements. Executive shall be eligible to receive further stock grants and/or stock option awards in the sole discretion of the Board. View More

Compensation. 2.1 Salary. Effective upon the Company’s initial public offering of its common stock, Executive’s Base Salary shall be increased to two hundred twenty five thousand dollars ($225,000) per year. Thereafter, Executive’s Base Salary shall be reviewed by the Board of Directors (the “Board”) for possible adjustment annually. 2.2 Bonus. Executive will be eligible for an annual discretionary bonus of up to 50% 25% of Executive’s Base Salary. Executive’s annual target bonus percentage, whether Executive... receives an annual bonus for any given year, and the amount of any such annual bonus, will be determined by the Board in its sole discretion based upon the Company’s and Executive’s achievement of objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be an active employee on the date any Annual Bonus is paid in order to earn any such Annual Bonus. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executive’s employment terminates for any reason before the date Annual Bonuses are paid. 2.3 Standard Company Benefits. Executive shall continue to be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time. 2.4 Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in furtherance or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy and requirements of the Internal Revenue Service as in effect from time to time. 2.5 Equity. Executive has been granted options to purchase shares of the Company’s Common Stock (the “Options”), the terms of which shall continue to be governed in all respects by the governing plan documents, grant notices and stock option agreements. Executive shall be eligible to receive further stock grants and/or stock option awards in the sole discretion of the Board. View More

Compensation. 2.1 Salary. Executive’s Base Salary shall be reviewed by the Board of Directors (the “Board”) for possible adjustment annually. 2.2 Bonus. Executive will be eligible for an annual discretionary bonus of up to 50% Thirty-Five Percent (35%) of Executive’s Base Salary. Executive’s annual target bonus percentage, whether Salary or such higher amount as may be determined by the Company’s Board of Directors (“Board”) (or Compensation Committee thereof) from time to time. Whether Executive receives an ...annual bonus for any given year, bonus, and the amount of any such annual bonus, will be determined by the Board in its sole discretion based upon the Company’s and Executive’s achievement of objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Board. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be an active employee on the date any Annual Bonus is paid in order to earn any such Annual Bonus. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executive’s employment terminates for any reason before the date Annual Bonuses are paid. paid except as agreed to in Section 3.2. 2.3 Standard Company Benefits. Executive shall continue to be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time. time and provided by the Company to its employees. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time. 2.4 2.3 Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses expenses, including cellular phone, incurred by Executive in furtherance or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy and requirements of the Internal Revenue Service as in effect from time to time. 2.5 Equity. Additionally, Company will reimburse Executive for expenses related to his certified public accountant status including continuing professional education (including travel and class costs with prior approval of CEO), license renewal, and membership fees for the AICPA and UACPA. 2.4 Other. The Company has been granted options D&O insurance coverage and will specifically name Executive as a covered employee under that policy before the Executive will be required to purchase shares of the Company’s Common Stock (the “Options”), the terms of which shall continue to be governed in all respects by the governing plan documents, grant notices sign any Securities and stock option agreements. Executive shall be eligible to receive further stock grants and/or stock option awards in the sole discretion of the Board. Exchange Commission filings. The Company will also enter into its standard Indemnification Agreement with Executive. View More

Compensation. 2.1 Salary. Executive’s Base Salary For services to be rendered hereunder, Executive shall be reviewed by receive a base salary at the Board rate of Directors Three Hundred Fifty Thousand dollars ($350,000) per year (the “Board”) for possible adjustment annually. “Base Salary”), subject to standard payroll deductions and withholdings and payable in accordance with the Company’s regular payroll schedule. 2.2 Bonus. Executive will be eligible for an annual discretionary target bonus of up to 50% T...wenty Percent (20%) of Executive’s Base Salary. Executive’s annual target bonus percentage, whether Salary (the “Annual Bonus”). Whether Executive receives an annual bonus Annual Bonus for any given year, and the amount of any such annual bonus, Annual Bonus, will be determined by the Board in its sole discretion based upon the Company’s and Executive’s achievement of objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be remain an active employee on through the date end of any Annual Bonus is paid given calendar year in order to earn an Annual Bonus for that year and any such Annual Bonus. bonus will be paid prior to March 15 of the year following the year in which Executive’s right to such amount became vested. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executive’s employment terminates for any reason before the date Annual Bonuses are paid. end of the calendar year. 2.3 Standard Company Benefits. Executive shall continue to be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time. time and provided by the Company to its employees. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time. 2.4 Expenses. The Company will reimburse Option Grant. Subject to approval by the Board, Executive for reasonable travel, entertainment or other expenses incurred by Executive in furtherance or in connection with the performance of Executive’s duties hereunder, in accordance with the Company’s expense reimbursement policy and requirements of the Internal Revenue Service as in effect from time to time. 2.5 Equity. Executive has been shall be granted options an option to purchase 2,103,305 shares of the Company’s Common Stock in the Company at the fair market value on the date of grant (the “Options”), the terms of which “Option”). The Option shall continue to be governed in all respects by the terms of the governing plan documents, grant notices documents and stock option agreements. agreement between Executive and the Company, which shall be eligible provide for the following vesting schedule; 1⁄4 of the shares subject to receive further stock grants and/or stock option awards the Option shall vest one (1) year after grant, with the remaining shares vesting in equal monthly installments over the three (3) years thereafter. The Option Agreement shall also provide, among other things, that all shares shall immediately vest in the sole discretion event of a Change in Control in which the Board. Option is not assumed by the acquiring company. Future option grants may be offered by the Board to the Executive in its discretion. View More

Compensation. 2.1 Salary. Executive’s For services to be rendered hereunder, Executive shall continue to receive a base salary at the rate of two hundred thousand dollars ($200,000) per year (the “Base Salary”), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. Effective upon the Company's initial public offering of its common stock, Executive's Base Salary shall be increased to two hundred thirty thousand dollars ($230,000) per year.... Thereafter, Executive's Base Salary shall be reviewed by the Board of Directors (the “Board”) for possible adjustment annually. 2.2 Bonus. Executive will be eligible for an annual discretionary bonus of up to 50% 35% of Executive’s Executive's Base Salary. Executive’s Executive's annual target bonus percentage, whether Executive receives an annual bonus for any given year, and the amount of any such annual bonus, will be determined by the Board in its sole discretion based upon the Company’s Company's and Executive’s Executive's achievement of objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be an active employee on the date any Annual Bonus is paid in order to earn any such Annual Bonus. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executive’s Executive's employment terminates for any reason before the date Annual Bonuses are paid. 2.3 Standard Company Benefits. Executive shall continue to be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time. 2.4 Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in furtherance or in connection with the performance of Executive’s Executive's duties hereunder, in accordance with the Company’s Company's expense reimbursement policy and requirements of the Internal Revenue Service as in effect from time to time. 2.5 Equity. Executive has been granted options to purchase shares of the Company’s Company's Common Stock (the “Options”), the terms of which shall continue to be governed in all respects by the governing plan documents, grant notices and stock option agreements. Executive shall be eligible to receive further stock grants and/or stock option awards in the sole discretion of the Board. View More

Compensation. 2.1 Salary. Executive’s For services to be rendered hereunder, Executive shall continue to receive a base salary at the rate of two hundred sixty thousand dollars ($260,000) per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. Executive's Base Salary shall be reviewed by the Board of Directors (the “Board”) "Board") for possible adjustment annually. 1 2.2 Bonus. Executive will be eligible for ...an annual discretionary bonus of up to 50% 30% of Executive’s Executive's Base Salary. Executive’s Executive's annual target bonus percentage, whether Executive receives an annual bonus for any given year, and the amount of any such annual bonus, will be determined by the Board in its sole discretion based upon the Company’s Company's and Executive’s Executive's achievement of objectives and milestones to be determined on an annual basis by the Board in consultation with Executive. Bonuses are generally paid by March 15 following the applicable bonus year, and Executive must be an active employee on the date any Annual Bonus is paid in order to earn any such Annual Bonus. Executive will not be eligible for, and will not earn, any Annual Bonus (including a prorated bonus) if Executive’s Executive's employment terminates for any reason before the date Annual Bonuses are paid. 2.3 Standard Company Benefits. Executive shall continue to be entitled to participate in all employee benefit programs for which Executive is eligible under the terms and conditions of the benefit plans that may be in effect from time to time. The Company reserves the right to cancel or change the benefit plans or programs it offers to its employees at any time. 2.4 Expenses. The Company will reimburse Executive for reasonable travel, entertainment or other expenses incurred by Executive in furtherance or in connection with the performance of Executive’s Executive's duties hereunder, in accordance with the Company’s Company's expense reimbursement policy and requirements of the Internal Revenue Service as in effect from time to time. 2.5 Equity. Executive has been granted options to purchase forty thousand (40,000) shares of the Company’s Company's Common Stock (the “Options”), "Options"), the terms of which shall continue to be governed in all respects by the governing plan documents, grant notices and stock option agreements. Executive shall be eligible to receive further stock grants and/or stock option awards in the sole discretion of the Board. 2.6 Sign On Bonus. Executive has been provided a sign on bonus of ten thousand dollars ($10,000), which Executive must pay back if he voluntarily terminates his employment relationship with the Company on or before December 16, 2017. View More