Compensation Clause Example with 19 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 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, subject to annual review, and adjusted from time to time by the Company in its sole discretion, payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. Executive shall be eligible to earn a discretionary annual cash bonus, with the initial target ...amount of such bonus equal to 40 percent of the Executive's then-current Base Salary, subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns any bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Executive shall be eligible for grants of additional equity in the Company, from time to time and at the Board's discretion, subject to the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, and any applicable stock option agreements.View More
Variations of a "Compensation" Clause from Business Contracts
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, subject to annual review, and adjusted from time to time by the Company in its sole discretion, payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Annual Bonus. Executive shall be eligible to earn a discretionary annual cash The bonus, with the init...ial target amount of such bonus equal to 40 percent of the Executive's then-current Base Salary, subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns any bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned pursuant to this Section 2.2 if awarded, will be paid on or before no later than March 15 of the calendar year immediately following the calendar year for which it the bonus is earned. being measured. 2.3 Equity. Executive was previously granted 100,000 restricted stock units (the "RSUs"). The RSUs are governed by the relevant equity plan(s) and/or award agreement(s), unless specifically stated otherwise in this Agreement. 2.4 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. policy, as the same may be modified by the Company from time to time. The Company shall reimburse Executive for all customary and appropriate business-related expenses actually incurred and documented in accordance with Company policy, as in effect from time to time. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): Code: (a) any such reimbursements will be paid 2. no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Executive shall be eligible for grants of additional equity in the Company, from time to time and at the Board's discretion, subject to the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, and any applicable stock option agreements.View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $440,000, subject to annual review, review and adjusted adjustment from time to time by the Company Board in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. (a) During Employment. Executive shall be elig...ible to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 fifty percent (50%) of Executive's average Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company Board in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns is eligible for any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Company, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned awarded pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. awarded. (b) Upon Termination. In the event Executive leaves the employ of the Company for any reason prior to payment of any bonus, Executive is not eligible for such bonus, prorated or otherwise. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Stock Option. Executive shall be eligible for grants of additional equity to participate in the Company, Company's stock option plans that are in place from time to time and at as determined by the Board's discretion, subject to Company. Any options awarded under such plans shall be governed by the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, conditions set forth in those plans, and in any applicable stock option agreements. agreement and grant document. 2 3. PROPRIETARY INFORMATION, INVENTIONS, NON-COMPETITION AND NON-SOLICITATION OBLIGATIONS. The parties hereto have entered into a Employee Non-Solicitation and Non-Competition Agreement (the "Non-Competition Agreement"), which may be amended by the parties from time to time without regard to this Agreement. The Non-Competition Agreement contains provisions that are intended by the parties to survive and do survive termination or expiration of this Agreement. The Non-Competition Agreement is attached hereto as Exhibit A. Executive also agrees to continue to abide by his At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement with the Company (the "Confidential Information Agreement"). Notwithstanding the foregoing, in the event that the terms of this Agreement differ from or are in conflict with the Company's Confidential Information Agreement, this Agreement shall control. View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $209,000, subject to annual review, review and adjusted adjustment from time to time by the Company Board in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. (a) During Employment. Executive shall be elig...ible to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 thirty-five percent (35%) of Executive's average Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns is eligible for any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Company, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned awarded pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. awarded. (b) Upon Termination. In the event Executive leaves the employ of the Company for any reason prior to payment of any bonus, Executive is not eligible for such bonus, prorated or otherwise. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Stock Option. Executive shall be eligible for grants of additional equity to participate in the Company, Company's stock option plans that are in place from time to time and at as determined by the Board's discretion, subject to Company. Any options awarded under such plans shall be governed by the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, conditions set forth in those plans, and in any applicable stock option agreements. agreement and grant document. 2 3. PROPRIETARY INFORMATION, INVENTIONS, NON-COMPETITION AND NON-SOLICITATION OBLIGATIONS. The parties hereto have entered into a Employee Non-Solicitation and Non-Competition Agreement (the "Non-Competition Agreement"), which may be amended by the parties from time to time without regard to this Agreement. The Non-Competition Agreement contains provisions that are intended by the parties to survive and do survive termination or expiration of this Agreement. The Non-Competition Agreement is attached hereto as Exhibit A. Executive also agrees to continue to abide by his At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement with the Company (the "Confidential Information Agreement"). Notwithstanding the foregoing, in the event that the terms of this Agreement differ from or are in conflict with the Company's Confidential Information Agreement, this Agreement shall control. View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $302,500, subject to annual review, review and adjusted adjustment from time to time by the Board of Directors of the Company (the "Board") in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. (a) During E...mployment. Executive shall be eligible to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 thirty-five percent (35%) of Executive's average Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns is eligible for any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Company, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned awarded pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. awarded. (b) Upon Termination. In the event Executive leaves the employ of the Company for any reason prior to payment of any bonus, Executive is not eligible for such bonus, prorated or otherwise. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Stock Option. Executive shall be eligible for grants of additional equity to participate in the Company, Company's stock option plans that are in place from time to time and at as determined by the Board's discretion, subject to Company. Any options awarded under such plans shall be governed by the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, conditions set forth in those plans, and in any applicable stock option agreements. agreement and grant document. 2 3. PROPRIETARY INFORMATION, INVENTIONS, NON-COMPETITION AND NON-SOLICITATION OBLIGATIONS. The parties hereto have entered into a Employee Non-Solicitation and Non-Competition Agreement (the "Non-Competition Agreement"), which may be amended by the parties from time to time without regard to this Agreement. The Non-Competition Agreement contains provisions that are intended by the parties to survive and do survive termination or expiration of this Agreement. The Non-Competition Agreement is attached hereto as Exhibit A. Executive also agrees to continue to abide by his At-Will Employment, Confidential Information, Invention Assignment, and Arbitration Agreement with the Company (the "Confidential Information Agreement"). Notwithstanding the foregoing, in the event that the terms of this Agreement differ from or are in conflict with the Company's Confidential Information Agreement, this Agreement shall control. View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder under this Agreement an initial annualized base salary of $388,125, $490,000 on an annualized basis, subject to annual review, review and adjusted from time to time adjustment by the Company in its sole discretion, payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with the Company's standard payroll practices ("Base Salary"). 2.2 Bonus (a) Annual Bonus. Wh...ile this Agreement is in effect, Executive shall be eligible to earn for a discretionary annual cash bonus, with the initial bonus of a target amount of such bonus equal to 40 percent 50% of the Executive's then-current Base Salary, Salary ("Target Amount"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns any bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. paid; and (b) the actual achievement by Executive and the Company of the applicable performance targets and goals set by the Board or its Compensation Committee. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any The Board or its Compensation Committee will determine in its sole discretion the extent to which Executive and the Company have achieved the performance goals upon which the bonus earned pursuant to this Section 2.2 is based and the amount of the bonus, which could be below the Target Amount (and may be zero). The bonus, if awarded, will be paid on or before no later than March 15 of the calendar year immediately following the calendar year for which it the bonus is earned. being measured. (b) Performance Bonus. In recognition of the performance of Executive during the 2015 calendar year, including with respect to capital raising activities for the Company, the Company agrees to pay Executive a one-time cash bonus of $990,000, payable within thirty (30) days following the closing of an initial public offering of the Company's common stock (the "Performance Bonus"). Executive must remain an employee of the Company through the date of payment of the Performance Bonus in order to receive the 2. Performance Bonus. The Performance Bonus will be paid in a lump sum subject to standard federal and state payroll withholding requirements. 2.3 Equity. Executive was previously granted 1,400,000 restricted stock units (the "RSUs"). The RSUs are governed by the relevant equity plan(s) and/or award agreement(s), unless specifically stated otherwise in this Agreement. 2.4 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. policy, as the same may be modified by the Company from time to time. The Company shall reimburse Executive for all customary and appropriate business-related expenses actually incurred and documented in accordance with Company policy, as in effect from time to time. For the avoidance of doubt, to the extent that any reimbursements payable to Executive, including any amounts payable to Executive pursuant to Section 2.5, are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): Code: (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. 2.5 Automobile Benefits. While this Agreement is in effect, Executive will be eligible to receive an automobile allowance of up to $700 per month, less any deductions and withholdings required by law ("Automobile Expenses"). The Automobile Expenses may be used towards an automobile lease, automobile loan repayment, or automobile maintenance and gasoline with respect to the automobile of Executive's choosing. Any Automobile Expenses paid by the Company on Executive's behalf during such period shall be counted towards the $700 per month maximum. Any Automobile Expenses incurred directly by Executive must be submitted for reimbursement in accordance with and subject to the Company's business expense reimbursement policies. While this Agreement is in effect, Executive will also be eligible for grants an automobile down payment of additional equity in up to $5000 one time during every three years of employment with the Company, from time to time less any deductions and at the Board's discretion, subject to the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, and any applicable stock option agreements. withholdings required by law ("Automobile Down Payment"). View More
Compensation. 2.1 Base Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $286,000.00, subject to annual review, review and adjusted adjustment from time to time by the Company in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. Beginning in 2014, Executive shall be eligib...le to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 thirty-five percent (35%) of Executive's Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Board, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus Target Bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any Any bonus earned pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For 2 3. PROPRIETARY INFORMATION, INVENTIONS, NON-COMPETITION AND NON-SOLICITATION OBLIGATIONS. The parties hereto have entered into a Compliance Agreement attached hereto as Exhibit A (the "Compliance Agreement"), which may be amended by the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Executive shall be eligible for grants of additional equity in the Company, parties from time to time without regard to this Agreement. The Compliance Agreement contains provisions that are intended by the parties to survive and at the Board's discretion, subject to the terms do survive termination or expiration of the Company's 2014 Equity Incentive Plan and any amendments thereto, and any applicable stock option agreements. this Agreement. View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $440,000, subject to annual review, review and adjusted adjustment from time to time by the Company Board in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. (a) During Employment. Executive shall be elig...ible to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 fifty percent (50%) of Executive's average Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company Board in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns is eligible for any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Company, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned awarded pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. awarded. (b) Upon Termination. In the event Executive leaves the employ of the Company for any reason prior to payment of any bonus, Executive is not eligible for such bonus, prorated or otherwise. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Stock Option. Executive shall be eligible for grants of additional equity to participate in the Company, Company's stock option plans that are in place from time to time and at as determined by the Board's discretion, subject to Company. Any options awarded under such plans shall be governed by the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, conditions set forth in those plans, and in any applicable stock option agreements. agreement and grant document. View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $209,000, subject to annual review, review and adjusted adjustment from time to time by the Board of Directors of the Company (the "Board") in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. (a) During E...mployment. Executive shall be eligible to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 thirty-five percent (35%) of Executive's average Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns is eligible for any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Company, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned awarded pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. awarded. (b) Upon Termination. In the event Executive leaves the employ of the Company for any reason prior to payment of any bonus, Executive is not eligible for such bonus, prorated or otherwise. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Stock Option. Executive shall be eligible for grants of additional equity to participate in the Company, Company's stock option plans that are in place from time to time and at as determined by the Board's discretion, subject to Company. Any options awarded under such plans shall be governed by the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, conditions set forth in those plans, and in any applicable stock option agreements. agreement and grant document. View More
Compensation. 2.1 Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $302,500, subject to annual review, review and adjusted adjustment from time to time by the Company Board in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. (a) During Employment. Executive shall be elig...ible to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 thirty-five percent (35%) of Executive's average Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns is eligible for any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Company, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any bonus earned awarded pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. awarded. (b) Upon Termination. In the event Executive leaves the employ of the Company for any reason prior to payment of any bonus, Executive is not eligible for such bonus, prorated or otherwise. 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2 2.4 Equity Grants. Stock Option. Executive shall be eligible for grants of additional equity to participate in the Company, Company's stock option plans that are in place from time to time and at as determined by the Board's discretion, subject to Company. Any options awarded under such plans shall be governed by the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, conditions set forth in those plans, and in any applicable stock option agreements. agreement and grant document. View More
Compensation. 2.1 Base Salary. Executive shall receive for Executive's services to be rendered hereunder an initial annualized base salary of $388,125, $417,900.00, subject to annual review, review and adjusted adjustment from time to time by the Company in its sole discretion, discretion and payable semi-monthly subject to standard federal and state payroll withholding requirements in accordance with Company's standard payroll practices ("Base Salary"). 2.2 Bonus. Beginning in 2014, Executive shall be eligib...le to earn a discretionary an annual cash bonus, bonus pursuant to the Company's annual performance bonus plan, with the initial target amount of such bonus equal to 40 fifty percent (50%) of Executive's Base Salary during the Executive's then-current Base Salary, then current bonus year ("Target Bonus"), subject to review and adjustment from time to time by the Company in its sole discretion, payable subject to standard federal and state payroll withholding requirements. Whether or not Executive earns any bonus Target Bonus will be dependent upon (a) the actual achievement by Executive and the Company of the applicable individual and corporate performance goals, as determined by the Board Board, and (b) the Company's actual financial performance during the applicable year; and (c) Executive's continuous performance of services to the Company through the date any bonus Target Bonus is paid. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. In all events, any Any bonus earned pursuant to this Section 2.2 will be paid on or before March 15 of the calendar year following the calendar year for which it is earned. 2 2.3 Expense Reimbursement. The Company will reimburse Executive for reasonable business expenses in accordance with the Company's standard expense reimbursement policy. For the avoidance of doubt, to the extent that any reimbursements payable to Executive are subject to the provisions of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"): (a) any such reimbursements will be paid no later than December 31 of the year following the year in which the expense was incurred, (b) the amount of expenses reimbursed in one year will not affect the amount eligible for reimbursement in any subsequent year, and (c) the right to reimbursement under this Agreement will not be subject to liquidation or exchange for another benefit. 2.4 Equity Grants. Executive shall be eligible for grants of additional equity in the Company, from time to time and at the Board's discretion, subject to the terms of the Company's 2014 Equity Incentive Plan and any amendments thereto, and any applicable stock option agreements.View More
