Remuneration Clause Example with 5 Variations from Business Contracts
This page contains Remuneration 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.
Remuneration. 2.1. Base Salary. Your annual base salary will initially be at the rate of US $850,000 per year ("Annual Base Salary"), paid on a bi-weekly basis, prorated for any partial periods based on the actual number of days in the applicable period. Your performance will be evaluated at least annually, and any increase to the level of your Annual Base Salary will be determined as part of the regular annual review process. 2.2. Bonus. You will be eligible to participate in the Company's annual bonus plan ...and may earn a bonus based upon the achievement of specified performance goals. The amount of your target bonus is 100% of your Annual Base Salary. The bonus year is the Company's fiscal year. Currently the maximum potential payout permitted under the bonus plan is two (2) times the applicable target bonus for achievement of performance goals significantly in excess of the target goals, as established by the Human Resources and Compensation Committee of the Company's Board of Directors (the "HRCC"). Please note that the bonus plan is entirely discretionary, and the Company reserves in its absolute discretion the right to terminate or amend it or any other bonus plan that may be established. 2.3. LTI Grant. You will be entitled to receive a long term incentive ("LTI") award equivalent to US $2,300,000 comprised of stock options (37.5%), performance-based restricted share units (37.5%) and time-based restricted share units (25%), granted to you in December 2018 during the regularly scheduled LTI grant cycle. The stock options and time-based restricted share units will vest ratably in three equal annual installments from the grant date, and the performance-based restricted units will vest based upon the achievement of a specific level of cumulative pre-tax income over the three-year period ending at the end of fiscal 2021. The LTI award, including the vesting terms, will be governed by the terms of the Cott Corporation equity incentive plan under which the award is made (the "Equity Plan") and your award agreement. You will be eligible for future LTI awards that will be based on your performance. Annual grants are issued following approval by the HRCC at its regularly scheduled meetings in December.View More
Variations of a "Remuneration" Clause from Business Contracts
Remuneration. 2.1. 2.1 Base Salary. Your annual base salary will initially be at the rate of US $850,000 $399,000 per year ("Annual Base Salary"), paid on a bi-weekly basis, prorated pro-rated for any partial periods based on the actual number of days in the applicable period. Your performance will be evaluated at least annually, and any increase to the level of your Annual Base Salary will be determined as part of the regular annual review process. 2.2. You will continue to receive an annual car allowance in... the amount of US $13,500 annually and a cell phone allowance in the amount of US $2,025 annually. 2.2 Bonus. You will be eligible to participate in the Company's annual bonus plan and may earn a bonus based upon the achievement of specified performance goals. The amount of your target bonus is 100% 75% of your Annual Base Salary. The bonus year is the Company's fiscal year. Currently the maximum potential payout permitted under the bonus plan is two (2) times the applicable target bonus for achievement of performance goals significantly in excess of the target goals, as established by the Human Resources and Compensation Committee of the Company's Board of Directors (the "HRCC"). Directors. Please note that the bonus plan is entirely discretionary, discretionary and the Company reserves in its absolute discretion the right to terminate or amend it or any other bonus plan that may be established. 2.3. 2.3 One-time LTI Grant. You will be entitled to receive a one-time long term incentive ("LTI") award equivalent to US $2,300,000 comprised $ 1,000,000 in addition to the previous FY2015-2017 award. The type and mix of stock options (37.5%), performance-based restricted share units (37.5%) and time-based restricted share units (25%), granted to you in December 2018 during grants (and the regularly scheduled LTI grant cycle. The stock options and time-based restricted share units will vest ratably in three equal annual installments from the grant date, and performance measures for the performance-based restricted units RSUs) will vest based upon be the achievement of a specific level of cumulative pre-tax income over same as the three-year period ending at the end of fiscal 2021. FY2015-2017 award. The LTI award, including the vesting terms, will be governed by the terms of the Amended and Restated Cott Corporation equity incentive plan under which the award is made (the "Equity Plan") Equity Incentive Plan, as amended and your award agreement. You will be eligible for future LTI awards that will be based on your performance. Annual grants are issued following approval by the HRCC at its regularly scheduled meetings in December.View More
Remuneration. 2.1. 2.1 Base Salary. Your annual base salary will initially be at the rate of US $850,000 per year $250,000 ("Annual Base Salary"), paid on a bi-weekly basis, prorated pro-rated for any partial periods based on the actual number of days in the applicable period. Your performance will be evaluated at least annually, and any increase to the level of your Annual Base Salary will be determined as part of the regular annual review process. 2.2. 2.2 Bonus. You will be eligible to participate in the C...ompany's annual bonus plan and may earn a bonus based upon the achievement of specified performance goals. The amount of your target bonus is 100% 50% of your Annual Base Salary. The bonus year is the Company's fiscal year. Currently the maximum potential payout permitted under the bonus plan is two (2) times the applicable target bonus for achievement of performance goals significantly in excess of the target goals, as established by the Human Resources and Compensation Committee of the Company's Board of Directors (the "HRCC"). Directors. Please note that the bonus plan is entirely discretionary, discretionary and the Company reserves in its absolute discretion the right to terminate or amend it or any other bonus plan that may be established. 2.3. LTI Grant. You will be entitled to receive a long term incentive ("LTI") award equivalent to US $2,300,000 comprised of stock options (37.5%), performance-based restricted share units (37.5%) and time-based restricted share units (25%), granted to you in December 2018 during the regularly scheduled LTI grant cycle. The stock options and time-based restricted share units will vest ratably in three equal annual installments from the grant date, and the performance-based restricted units will vest based upon the achievement of a specific level of cumulative pre-tax income over the three-year period ending at the end of fiscal 2021. The LTI award, including the vesting terms, will be governed by the terms of the Cott Corporation equity incentive plan under which the award is made (the "Equity Plan") and your award agreement. You will be eligible for future LTI awards that will be based on your performance. Annual grants are issued following approval by the HRCC at its regularly scheduled meetings in December.View More
Remuneration. 2.1. 2.1 Base Salary. Your annual base salary will initially be at the rate of US $850,000 $290,000 per year ("Annual Base Salary"), paid on a bi-weekly basis, prorated pro-rated for any partial periods based on the actual number of days in the applicable period. Your performance will be evaluated at least annually, and any increase to the level of your Annual Base Salary will be determined as part of the regular annual review process. 2.2. You will receive an annual car allowance in the amount ...of US $13,500 annually and a cell phone allowance in the amount of US $2,025 annually. 2.2 Bonus. You will be eligible to participate in the Company's annual bonus plan and may earn a bonus based upon the achievement of specified performance goals. The amount of your target bonus is 100% 50% of your Annual Base Salary. The bonus year is the Company's fiscal year and any payments made to you for bonus year 2013 will be pro-rated based on your Employment Date and a 366-day year. Currently the maximum potential payout permitted under the bonus plan is two (2) times the applicable target bonus for achievement of performance goals significantly in excess of the target goals, as established by the Human Resources and Compensation Committee of the Company's Board of Directors (the "HRCC"). Directors. Please note that the bonus plan is entirely discretionary, discretionary and the Company reserves in its absolute discretion the right to terminate or amend it or any other bonus plan that may be established. 2.3. 2.3 One-time LTI Grant. You will be entitled to receive a one-time long term incentive ("LTI") award equivalent to US $2,300,000 comprised $ $217,500 when the 2013 annual awards are made to other senior executives of stock options (37.5%), performance-based restricted share units (37.5%) and time-based restricted share units (25%), granted to you in December 2018 during the regularly scheduled LTI grant cycle. The stock options and time-based restricted share units will vest ratably in three equal annual installments from the grant date, and the performance-based restricted units will vest based upon the achievement of a specific level of cumulative pre-tax income over the three-year period ending at the end of fiscal 2021. Company. The LTI award, including the vesting terms, will be governed by the terms of the Cott Corporation equity incentive plan under which the award is made 2010 Equity Incentive Plan (the "Equity Plan") "Plan") and your award agreement. You will be eligible for future LTI awards that will be based on your performance. Annual grants are issued following approval by the HRCC at its regularly scheduled meetings in December.View More
Remuneration. 2.1. Base Salary. Your annual base salary will initially shall be at the rate of US $850,000 $485,000 per year ("Annual Base Salary"), paid on a bi-weekly basis, prorated for any partial periods based on the actual number of days in the applicable period. Your performance will be evaluated at least annually, and any increase to the level of your Annual Base Salary will be determined as part of the regular annual review process. 2.2. Bonus. You will continue to be eligible to participate in the C...ompany's annual bonus plan and may earn a bonus based upon the achievement of specified performance goals. The amount of your target bonus is 100% 75% of your Annual Base Salary. The bonus year is the Company's fiscal year. Currently the maximum potential payout permitted under the bonus plan is two (2) times the applicable target bonus for achievement of performance goals significantly in excess of the target goals, as established by the Human Resources and Compensation Committee of the Company's Board of Directors (the "HRCC"). Please note that the bonus plan is entirely discretionary, and the Company reserves in its absolute discretion the right to terminate or amend it or any other bonus plan that may be established. 2.3. LTI Grant. Participation. You will be entitled to receive a long term one-time long-term incentive ("LTI") award equivalent to US $2,300,000 $700,000 comprised of stock options (37.5%), performance-based restricted share units (37.5%) (60%) and time-based restricted share units (25%), (40%), granted to you in December 2018 during the regularly scheduled LTI grant cycle. on your Employment Date. The stock options and time-based restricted share units will vest ratably in three equal annual installments from the grant date, and the performance-based restricted units will vest based upon the achievement of average annual ROIC and aggregate revenues over a specific level of cumulative pre-tax income over the three-year period beginning on the first day of Primo's 2023 fiscal year and ending at on the end last day of Primo's 2025 fiscal 2021. year (with the metrics weighted 75% and 25%, respectively). The LTI award, including the vesting terms, award will otherwise be governed by the terms of the Cott Corporation Company equity incentive plan under which the award is made (the "Equity Plan") and your award agreement. The Company's current Equity Plans are the Amended and Restated Primo Water Corporation Equity Incentive Plan, as amended, and the Primo Water Corporation 2018 Equity Incentive Plan, as amended. You will be eligible for future LTI awards that will be based on your performance. performance, at the discretion of the HRCC. Annual grants are issued following approval by the HRCC at its regularly scheduled meetings in December. View More
Remuneration. 2.1. 2.1 Base Salary. Your annual base salary will initially be at the rate of US $850,000 $400,000 per year ("Annual Base Salary"), paid on a bi-weekly basis, prorated pro-rated for any partial periods based on the actual number of days in the applicable period. Your performance will be evaluated at least annually, and any increase to the level of your Annual Base Salary will be determined as part of the regular annual review process. 2.2. You will receive an annual car allowance in the amount ...of US $13,500 annually and a cell phone allowance in the amount of US $2,025 annually. 2.2 Bonus. You will be eligible to participate in the Company's annual bonus plan and may earn a bonus based upon the achievement of specified performance goals. The amount of your target bonus is 100% 75% of your Annual Base Salary. The bonus year is the Company's fiscal year and any payments made to you for bonus year 2016 will be pro-rated based on your Employment Date and a 366-day year. Currently the maximum potential payout permitted under the bonus plan is two (2) times the applicable target bonus for achievement of performance goals significantly in excess of the target goals, as established by the Human Resources and Compensation Committee of the Company's Board of Directors (the "HRCC"). Please note that the bonus plan is entirely discretionary, discretionary and the Company reserves in its absolute discretion the right to terminate or amend it or any other bonus plan that may be established. 2.3. 2.3 One-time on hire LTI Grant. You will be entitled to receive a one-time long term incentive ("LTI") award equivalent to US $2,300,000 $ 250,000 comprised of stock options (37.5%), performance-based restricted share units (37.5%) and time-based restricted share units (25%), granted to you in December 2018 during at the next regularly scheduled LTI grant cycle. meeting of the HRCC. The stock options and time-based restricted share units will vest ratably in three equal annual installments from the grant date, and the performance-based restricted units will vest based upon the achievement of a specific level of cumulative pre-tax income over the three-year period ending at the end of fiscal 2021. 2018. The LTI award, including the vesting terms, will be governed by the terms of the Amended and Restated Cott Corporation equity incentive plan under which the award is made (the "Equity Plan") Equity Incentive Plan, as amended and your award agreement. You will be eligible for future LTI awards of $360,000 that will be based on your performance. performance and will be in line with similar peer positions at the Company. Annual grants are issued following approval by the HRCC at its regularly scheduled meetings in December. February. View More
