Compensation Clause Example with 8 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. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the terms and co...nditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) Equity Award. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive.View More
Variations of a "Compensation" Clause from Business Contracts
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $365,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the ter...ms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 40% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) Equity Award. Following Upon approval by the Effective Date, Executive Board of Directors (the "Board") or the Compensation Committee of the Board (the "Compensation Committee"), Employee will be granted a nonstatutory stock option to purchase 200,000 shares of Common Stock, $0.001 par value per share, of the Company (the "Common Stock"), which option is granted under the Trevena, Inc. Inducement Plan (the "Plan") pursuant to the inducement grant exception under Nasdaq Rule 5635(c)(4) and not pursuant to the Company's 2013 Equity Incentive Plan, as amended or any other equity incentive plan of the Company, as an inducement that is material to Employee's employment with the Company (the "Inducement Grant"). The Inducement Grant shall have a ten-year term, an exercise price equal to the closing price of the Common Stock on the NASDAQ Global Select Market on the date of such grant and shall vest as to 6.25% of the shares subject to such option on each quarterly (i.e., every three months) anniversary of the date of grant of the option. The Inducement Grant shall be subject to such other terms as are customary for the Company's options under the Plan and the previously approved form of stock option agreement under the Plan. Employee will be eligible to receive awards of stock options, restricted stock stock, or any other equity awards under the Plan award based upon Executive's performance, on Employee's performance as determined by the Board or Compensation Committee from time to time. The Board or the Compensation Committee will determine in its discretion the timing whether and amount, if any, of when Employee will be granted any grant of such future equity awards to the Executive. awards. View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $415,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Signing Bonus. The Compan...y will pay Executive a signing bonus of $50,000 on the first payroll date after the Effective Date, which amount Executive will repay to Company in full if Executive's employment with the Company terminates within one year after the Effective Date for any reason other than a termination (i) by the Executive for Good Reason (as defined below), (ii) by the Company for other than Cause (as defined below) or pursuant to Section 7.b. below or (iii) as a result of the death or disability of the Executive. (c) Bonus. Subject to the terms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 40% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, 2019, such objectives will be established within the first thirty (30) days after the Effective Date. For each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2019, Executive shall be eligible for the full year bonus target based on the company performance factor, subject to the terms and conditions of the Plan. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) (d) Equity Award. Upon the approval of the Compensation Committee, the Executive will receive an initial award of 275,000 restricted stock units and 275,000 stock options under the Trevena, Inc. 2013 Equity Incentive Plan, as amended (the "Plan"), to purchase the Company's common stock upon terms established by the Board or the Compensation Committee and dated as of the Effective Date. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive. View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $500,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the ter...ms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan or any similar incentive plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 60% of the Base Salary, subject to, among other things, the Salary upon achievement of corporate and individual performance objectives, which shall be established and assessed determined by the Company and the Board (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2018, the Target Bonus shall be determined based on the number of days from January 1, 2018 to the day prior to the Effective Date at Executive's prior target amount of 45% of Base Salary and the number of days from the Effective Date to December 31, 2018 at Executive target amount of 60% of Base Salary. The Company reserves the right to modify the terms of the ICP, the Target Bonus Bonus, and other components of bonus compensation and criteria from year to year. (c) Equity Award. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee its committee will determine in its discretion the timing whether and amount, if any, of when Executive will be granted any grant of such future equity awards to the Executive. awards. View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Signing Bonus. The Company will pa...y Executive a signing bonus of $50,000 on the first payroll date after the Effective Date, which amount Executive will repay to Company in full if Executive's employment with the Company terminates within one year after the Effective Date for any reason other than a 1 termination (i) by the Executive for Good Reason (as defined below), (ii) by the Company for other than Cause (as defined below) or pursuant to Section 7.b below or (iii) as a result of the death or disability of the Executive. (c) Bonus. Subject to the terms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 40% of the Base Salary, subject to, among other things, the achievement of the corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, 2020, such objectives will be established within the first thirty (30) days after the Effective Date. For each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2020, Executive shall be eligible for a full year bonus target based on the company performance factor, subject to the terms and conditions of the Plan. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) (d) Equity Award. Upon the approval of the Compensation Committee, the Executive will receive an initial award of 250,000 restricted stock units and 200,000 stock options under the Trevena, Inc. 2013 Equity Incentive Plan, as amended (the "Plan"), to purchase the Company's common stock upon terms established by the Board or the Compensation Committee and dated as of the Effective Date. Following the Effective Date, the Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's Employee's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive. View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $615,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the ter...ms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 60% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For In 2020, and for each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2020, Executive shall be eligible for the full year bonus target based on the company performance factor, subject to the terms and conditions of the ICP. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) Equity Award. Awards. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive. Executive in accordance with the Trevena, Inc. 2013 Equity Incentive Plan, as amended (the "Plan"). View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $427,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the ter...ms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 40% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For In 2020, and for each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2020, Executive shall be eligible for the full year bonus target based on the company performance factor, subject to the terms and conditions of the ICP. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) Equity Award. Awards. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive. Executive in accordance with the Trevena, Inc. 2013 Equity Incentive Plan, as amended (the "Plan"). View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $371,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the ter...ms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 40% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For In 2020, and for each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2020, Executive shall be eligible for the full year bonus target based on the company performance factor, subject to the terms and conditions of the ICP. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) Equity Award. Awards. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive. Executive in accordance with the Trevena, Inc. 2013 Equity Incentive Plan, as amended (the "Plan"),. View More
Compensation. (a) Base Salary. During the Employment Term, the Company will pay Executive an initial annualized salary of $385,000 $460,000 as compensation for services (the "Base Salary"). The Base Salary shall be paid in equal installments in accordance with the Company's normal payroll practices and subject to required withholding and deductions. The Base Salary will be subject to review and adjustments will be made based upon the Company's normal performance review practices. (b) Bonus. Subject to the ter...ms and conditions set forth in the Trevena, Inc. Incentive Compensation Plan (the "ICP"), Executive may be eligible to receive an annual bonus in a target amount of 45% 40% of the Base Salary, subject to, among other things, the achievement of corporate and individual performance objectives, which shall be established and assessed by the Company (the "Target Bonus"). For 2018, such objectives will be established within the first thirty (30) days after the Effective Date. For In 2020, and for each subsequent calendar year, these objectives generally will be established within 90 days after the start of such calendar year. For 2020, Executive shall be eligible for the full year bonus target based on the company performance factor, subject to the terms and conditions of the ICP. The Company reserves the right to modify the terms of the ICP, the Target Bonus and other components of bonus compensation and criteria from year to year. (c) Equity Award. Awards. Following the Effective Date, Executive will be eligible to receive awards of stock options, restricted stock or other equity awards under the Plan based upon Executive's performance, as determined by the Board from time to time. The Board or the Compensation Committee will determine in its discretion the timing and amount, if any, of any grant of such future equity awards to the Executive. Executive in accordance with the Trevena, Inc. 2013 Equity Incentive Plan, as amended (the "Plan"),. View More
