Employment Term Clause Example with 4 Variations from Business Contracts

This page contains Employment Term 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.
Employment Term. The Company agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term of two (2) years (the “Initial Term”) commencing as of July 23, 2018 (the “Effective Date”). On each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended for successive one-year periods; provided, however, that either party hereto may elect not to extend this Agreement by giving written notice... to the other party at least ninety (90) days prior to any such anniversary date. Notwithstanding the foregoing, the Employee’s employment hereunder may be earlier terminated in accordance with Section ‎8 hereof, subject to Section ‎9 hereof. The period of time between the Effective Date and the termination of the Employee’s employment hereunder shall be referred to herein as the “Employment Term.” 3. BASE SALARY. The Company agrees to pay the Employee a base salary at an annual rate of $495,000, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Employee’s Base Salary shall be subject to annual review by the Board (or a committee thereof), and may be adjusted, from time to time by the Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. View More
Found in Jones Energy, Inc. contract

Variations of a "Employment Term" Clause from Business Contracts

Employment Term. The Company agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term of two (2) years (the “Initial Term”) commencing as of July 23, 2018 the date hereof (the “Effective Date”). On each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended for successive one-year periods; provided, however, that either party hereto may elect not to extend this Agreement by giving... written notice to the other party at least ninety (90) days prior to any such anniversary date. Notwithstanding the foregoing, the Employee’s employment hereunder may be earlier Date”) until terminated in accordance with 1 Section ‎8 7 hereof, subject to Section ‎9 8 hereof. The date of any such termination shall be referred to herein as the “Termination Date”, and the period of time between the Effective Date and the termination of the Employee’s employment hereunder shall be referred to herein as the “Employment Term.” 3. BASE SALARY. The During the Employment Term, the Company agrees to pay the Employee a base salary at an annual rate of $495,000, not less than $[●], payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Employee’s Base Salary shall be subject to annual review by the Board (or a committee thereof), and may be adjusted, adjusted upward (but not downward) from time to time by the Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. View More
Found in Legacy Reserves Inc. contract
Employment Term. The Company Employer agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term of two (2) years (the “Initial Term”) commencing as of July 23, 2018 the date hereof (the “Effective Date”). On each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended for successive one-year periods; provided, however, that either party hereto may elect not to extend this Agreement ...by giving written notice to the other party at least ninety (90) days prior to any such anniversary date. Notwithstanding the foregoing, the Employee’s employment hereunder may be earlier Date”) until terminated in accordance with Section ‎8 7 hereof, subject to Section ‎9 8 hereof. The date of any such termination shall be referred to herein as the “Termination Date”, and the period of time between the Effective Date and the termination of the Employee’s employment hereunder shall be referred to herein as the “Employment Term.” 3. BASE SALARY. The Company During the Employment Term, the Employer agrees to pay the Employee a base salary at an annual rate of $495,000, not less than $500,000, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. monthly provided that, as of the Promotion Effective Date, the Employee’s Base salary shall be increased to an annual rate of not less than $675,000. The Employee’s Base Salary shall be subject to annual review by the Board (or a committee thereof), and may be adjusted, adjusted upward (but not downward) from time to time by the Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. View More
Found in Legacy Reserves Inc. contract
Employment Term. The Company Employer agrees to employ the Employee pursuant to the terms of this Agreement, and the Employee agrees to be so employed, for a term of two (2) years (the “Initial Term”) commencing as of July 23, 2018 the date hereof (the “Effective Date”). On each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended for successive one-year periods; provided, however, that either party hereto may elect not to extend this Agreement ...by giving written notice to the other party at least ninety (90) days prior to any such anniversary date. Notwithstanding the foregoing, the Employee’s employment hereunder may be earlier Date”) until terminated in accordance with Section ‎8 7 hereof, subject to Section ‎9 8 hereof. The date of any such termination shall be referred to herein as the “Termination Date”, and the period of time between the Effective Date and the termination of the Employee’s employment hereunder shall be referred to herein as the “Employment Term.” 3. BASE SALARY. The Company During the Employment Term, the Employer agrees to pay the Employee a base salary at an annual rate of $495,000, not less than $450,000, payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. monthly, provided that, as of the Promotion Effective Date, the Employee’s Base salary shall be increased to an annual rate of not less than $500,000. The Employee’s Base Salary shall be subject to annual review by the Board (or a committee thereof), and may be adjusted, adjusted upward (but not downward) from time to time by the Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. View More
Found in Legacy Reserves Inc. contract
Employment Term. The Company agrees to employ the Employee Executive pursuant to the terms of this Agreement, and the Employee Executive agrees to be so employed, for a term of two (2) years (the “Initial Term”) commencing as of July 23, 2018 on November 1, 2022 (the “Effective Date”). On each anniversary of the Effective Date following the Initial Term, the term of this Agreement shall be automatically extended for successive one-year periods; periods, provided, however, that either party hereto may elect not t...o extend this Agreement by giving written notice to the other party at least ninety (90) thirty (30) days prior to any such anniversary date. Notwithstanding the foregoing, the Employee’s Executive’s employment hereunder may be earlier terminated in accordance with Section ‎8 7 hereof, subject to Section ‎9 8 hereof. The period of time between the Effective Date and the termination of the Employee’s Executive’s employment hereunder shall be referred to herein as the “Employment Term.” 1 3. BASE SALARY. The During the Employment Term, the Company agrees to pay the Employee Executive a base salary at an annual rate of $495,000, three hundred twenty-five thousand dollars ($325,000), payable in accordance with the regular payroll practices of the Company, but not less frequently than monthly. The Employee’s Executive’s Base Salary shall be subject to annual review by the Board (or a committee thereof), and may be adjusted, adjusted from time to time by the Board. The base salary as determined herein and adjusted from time to time shall constitute “Base Salary” for purposes of this Agreement. View More
Found in PaxMedica, Inc. contract