Compensation Clause Example with 17 Variations from Business Contracts
This page contains Compensation 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. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you will be eligible for an annual discretionary bonus with a target amount of 50% of your then current annual Base Salary, prorated for the number of days employed in a calendar year (the ..."Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. The Annual Bonus, if any, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings.View More
Variations of a "Compensation" Clause from Business Contracts
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $359,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you You will be eligible for an annual discretionary bonus with a target amount of 50% 40% of your then current annual Base Salary, prorated for the number of days employed in a ca...lendar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. You must continue If your employment terminates for any reason prior to be employed through the date the such Annual Bonus, if any, is paid, then you will not have earned an Annual Bonus is paid for that year and will not receive any portion of it, except as provided in order to earn such bonus. Section 8. The Annual Bonus, if any, earned, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. Subject to approval by the Board, you shall be granted an option to purchase 59,337 shares of Common Stock in the Company (the "Option") pursuant to the Company's 2017 and 2019 Equity Incentive Plans (as amended from time to time, the "Plan"). The exercise price of the Option shall be the minimum permissible amount, and such exercise price as well as all other matters related to the Option, will be governed by and subject to the terms and conditions set forth in the Plan, and the stock option agreement you will be required to execute. Upon a Change in Control, the vesting and exercisability of all unvested shares subject to the Option shall accelerate and become immediately vested and exercisable as of the date of the closing of the Change in Control (the "CIC Equity Acceleration"). The CIC Equity Acceleration shall be subject to your Continuous Service (as defined in the Plan) up to and including the closing date of such Change in Control. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $455,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you You will be eligible for an annual discretionary bonus with a target amount of 50% of your then current annual Base Salary, prorated for the number of days employed in a calend...ar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. You must continue If your employment terminates for any reason prior to be employed through the date the such Annual Bonus, if any, is paid, then you will not have earned an Annual Bonus is paid for that year and will not receive any portion of it, except as provided in order to earn such bonus. Section 8. The Annual Bonus, if any, earned, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. Subject to approval by the Board, you shall be granted an option to purchase 59,337 shares of Common Stock in the Company (the "Option") pursuant to the Company's 2017 and 2019 Equity Incentive Plans (as amended from time to time, the "Plan"). The exercise price of the Option shall be the minimum permissible amount, and such exercise price, as well as all other matters related to the Option, will be governed by and subject to the terms and conditions set forth in the Plan, and the stock option agreement you will be required to execute. Upon a Change in Control, the vesting and exercisability of all unvested shares subject to the Option shall accelerate and become immediately vested and exercisable as of the date of the closing of the Change in Control (the "CIC Equity Acceleration"). The CIC Equity Acceleration shall be subject to your Continuous Service (as defined in the Plan) up to and including the closing date of such Change in Control. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 Four Hundred Thousand Dollars ($400,000) per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you will be eligible for an annual discretionary bonus with a target amount of 50% forty percent (40%) of your then current annual Base Salary, pror...ated for the number of days employed in a calendar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. The Annual Bonus, if any, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. The Option will have a four-year vesting schedule, under which twenty five percent (25%) of the shares subject to the Option will vest twelve (12) months following the Effective Date, with the remaining shares vesting in equal monthly installments thereafter, until either the Option is fully vested or Employee's employment ends, whichever occurs first. and be governed in all respects by the terms of the governing plan documents and option agreement between you and the Company. The Option grant will be subject to the terms of the Plan, an Option Grant Notice and Option Agreement, and will be approved by the Board or its Compensation Committee pursuant to the "inducement exception" provided under Nasdaq Market Place Rule 5635(c)(4) and Nasdaq IM-5635-1. Employee will receive copies of the Plan and Option Grant Notice and Option Agreement promptly after the Board's or its Compensation Committee's approval of the Option grant. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a current base salary at the rate of $505,000 $280,000.00 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During Subject to and upon the date of the Company's Initial Public Offering, during your employment, you will be become eligible for an annual discretionary bonus with a target amount of 50% u...p to 30% of your then current annual Base Salary, prorated for the number of days employed in a calendar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. The Annual Bonus, if any, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. Subject to approval by the Board (or the Compensation Committee thereof), you shall be granted (i) a new-hire option to purchase 88,300 shares of common stock of the Company and (ii) beginning in the calendar year after the Start Date, on an annual basis thereafter, will be eligible for an annual discretionary option grant which, for any given year, and the amount of any such grant, will be determined by the Board in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board (individually and collectively, the "Option"), pursuant to the Company's 2019 Equity Incentive Plan (as amended from time to time, the "Plan"). The shares subject to the Option will vest over three years of continuous service to the Company, with twenty-five percent (25%) of the shares subject to the Option vesting on the the Start Date, and the remaining shares vesting in equal monthly installments over the subsequent thirty-six (36) months of continuous service thereafter. The exercise price of the Option, as well as all other matters related to the Option, will be governed by and subject to the terms and conditions set forth in the Plan, and the stock option agreement you will be required to execute. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 Five Hundred Seventy Thousand Dollars ($570,000) per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you will be eligible for an annual discretionary bonus with a target amount of 50% fifty percent (50%) of your then current annual Base Sala...ry, prorated for the number of days employed in a calendar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. The Annual Bonus, if any, shall 1. be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. Subject to approval by the Board, you shall be granted an option to purchase Two Hundred Fifty Thousand (250,000) shares of Common Stock in the Company at the fair market value on the date of grant (the "Option"). The Option shall vest on a monthly basis over a four (4) year period (1/48th per month) and be governed in all respects by the terms of the governing plan documents and option agreement between you and the Company. 2.4 Signing Bonus. Upon the commencement of your employment with the Company, you will receive a one-time signing bonus in the amount of Thirty Thousand Dollars ($30,000) (the "Signing Bonus"), subject to applicable payroll deductions and withholdings. The Signing Bonus will be paid to you as an advance in a single lump sum in accordance with the Company's standard payroll processes within thirty (30) days after your Start Date. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $400,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your Beginning with calendar year 2021 and for each subsequent year of employment, you will be eligible for an annual discretionary bonus with a target amount of 50% 40% of your then current annual... Base Salary, prorated for the number of days employed in a the applicable calendar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Company's Board of Directors of the Company and/or (the "Board") (and/or its Compensation Committee (the "Board") Committee) in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. Board (and/or its Compensation Committee). You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. The Annual Bonus, if any, earned, shall be paid to you in a lump sum no 1. later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. You were previously granted certain equity awards covering the Company's common stock under the Company's 2020 Equity Incentive Plan. Your equity awards will continue to be governed by the terms of the 2020 Equity Incentive Plan and the grant documents thereunder. You will remain eligible to receive future equity awards at the discretion of the Board or the Compensation Committee. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $425,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you You will be eligible for an annual discretionary bonus with a target amount of 50% 40% of your then current annual Base Salary, prorated for the number of days employed in a th...e applicable calendar year (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Company's Board of Directors of the Company and/or (the "Board") (and/or its Compensation Committee (the "Board") Committee) in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board. Board (and/or its Compensation Committee). You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. The Annual Bonus, if any, earned, shall be paid 1. to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. You were previously granted certain equity awards covering the Company's common stock under the Company's 2020 Equity Incentive Plan. Your equity awards will continue to be governed by the terms of the 2020 Equity Incentive Plan and the grant documents thereunder. You will remain eligible to receive future equity awards at the discretion of the Board or the Compensation Committee. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $312,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you You will be eligible for an annual discretionary bonus with a target amount of 50% 35% of your then current annual Base Salary, prorated for the number of days employed in a ca...lendar year Salary (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board and other criteria to be determined by the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. If your employment terminates for any reason prior to the payment date, you will not have earned, and will not be paid, any pro-rated bonus. The Annual Bonus, if any, earned, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. You have previously been granted various equity interests in the Company (the "Awards"). The Awards will continue to be governed by the terms and conditions of the applicable existing plan documents, award agreements and grant notices. You will be eligible for future equity awards as determined by the Board in its sole discretion. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $355,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you You will be eligible for an annual discretionary bonus with a target amount of 50% 40% of your then current annual Base Salary, prorated for the number of days employed in a ca...lendar year Salary (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board and other criteria to be determined by the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. If your employment terminates for any reason prior to the payment date, you will not have earned, and will not be paid, any pro-rated bonus. The Annual Bonus, if any, earned, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. You have previously been granted various equity interests in the Company (the "Awards"). The Awards will continue to be governed by the terms and conditions of the applicable existing plan documents, award agreements and grant notices. You will be eligible for future equity awards as determined by the Board in its sole discretion. View More
Compensation. 2.1 Base Salary. For services to be rendered hereunder, you shall receive a base salary at the rate of $505,000 $315,000 per year (the "Base Salary"), subject to standard payroll deductions and withholdings and payable in accordance with the Company's regular payroll schedule. 2.2 Annual Bonus. During your employment, you You will be eligible for an annual discretionary bonus with a target amount of 50% 40% of your then current annual Base Salary, prorated for the number of days employed in a ca...lendar year Salary (the "Annual Bonus"). Whether you receive an Annual Bonus for any given year, and the amount of any such Annual Bonus, will be determined by the Board of Directors of the Company and/or its Compensation Committee (the "Board") in its discretion based upon the achievement of corporate and/or individual objectives and milestones that are determined in the sole discretion of the Board and other criteria to be determined by the Board. You must continue to be employed through the date the Annual Bonus is paid in order to earn such bonus. If your employment terminates for any reason prior to the payment date, you will not have earned, and will not be paid, any pro-rated bonus. The Annual Bonus, if any, earned, shall be paid to you in a lump sum no later than March 15th of the calendar year that follows the performance year, subject to applicable payroll deductions and withholdings. 2.3 Equity. You have previously been granted various equity interests in the Company (the "Awards"). The Awards will continue to be governed by the terms and conditions of the applicable existing plan documents, award agreements and grant notices. You will be eligible for future equity awards as determined by the Board in its sole discretion. View More
