Salary and Bonus Contract Clauses (51)

Salary and Bonus. (a) Salary. As compensation for the services to be performed by the Employee hereunder during the Employment Term, the Company shall pay the Employee a base salary at the annual rate of not less than Four Hundred Thousand and No/100s Dollars ($400,000) (said amount, together with any increases thereto as may be determined from time to time by the Compensation Committee of the Board of Directors of the Company (the "Committee") in its sole discretion, being hereinafter referred to as "Salary"). A...ny Salary payable hereunder shall be paid in regular intervals in accordance with the Company's established and regular payroll practices from time to time in effect, but in no event less than monthly. (b) Bonus. Employee shall be eligible to receive bonus compensation from Company for each fiscal year (or portion thereof) occurring during the Employment Term in amounts, if any, as may be determined by the Committee in its sole discretion, which may include performance-based criteria or annual incentive plans to be established from time to time by such Committee in its sole discretion, provided that any such Bonus so awarded shall be paid in the calendar year following the year in which the services for which such Bonus is awarded were performed. - 3 (c) Long-Term Incentive Awards. Employee will be eligible to receive long-term incentive awards for each fiscal year occurring during the Employment Term, in amounts and subject to the terms and conditions, which may include performance-based criteria, as determined by the Committee in its sole discretion. (d) Withholding and Taxes. The payment of any Salary, Bonus, long-term incentive awards and the payment of any separation pay pursuant to this Agreement, shall be subject to applicable withholding and payroll taxes, and such other deductions as may be required under the Company's employee benefit plans. View More

Salary and Bonus. In consideration for your services to Company, you will receive compensation of $12,500 twice a month (equivalent to an annual salary of $300,000). In addition, you will be eligible for an annual performance bonus, paid quarterly and targeted at $150,000 per year, based on individual, group and/or corporate goals to be determined during the first month of your employment. The Company shall withhold and deduct all federal and state income, social security and disability taxes as required by appli...cable laws. View More

Salary and Bonus. a. Base Salary. During the period commencing on the Effective Date and ending December 31, 2020, the Corporation shall pay to the CFO a salary (the "Base Salary") at an annual rate of One Hundred and Ninety-Five Thousand ($195,000) Dollars. b. Bonuses. During the Term of Employment, the CEO shall evaluate the performance of the Executive and, if deemed appropriate by the CEO, the Executive shall be awarded each quarter a cash bonus in the amount of Twenty-Five Thousand Dollars ($25,000), beginni...ng on the quarter ending December 31, 2017. View More

Salary and Bonus. It will be paid in twelve monthly installments. Remittance is made at the end of each month via bank transfer to a Swiss Bank Account, taking into account the deductions applying. 3.2 You will be eligible to participate in the 2021 Executive Performance Incentive Plan ("EPIP") upon your hire date. Your target bonus will be eighty percent (80%) of your eligible earnings (which will consist primarily of base salary payments) for the year. Pay-out will depend on actual year-end results for the esta...blished performance measures. Payment will occur in or around March of the year following the bonus period after annual performance measures upon which the bonus is based have been determined. You must remain employed by the Zimmer Biomet Group at the time of bonus pay out to receive the bonus. You will participate in the 2021 EPIP based upon the corporate metric group and an individual bonus component. Your bonus will be determined based 90% on the corporate metric and 10% on evaluated accomplishment of your goals and objectives. Your 2021 bonus will be prorated for a partial year of service by applying the earned bonus percentage to your eligible Zimmer Biomet Group earnings for the year. 4.2 We anticipate that the Company's 2022 LTI Plan grants will have two components: - Stock options and - Performance-based Restricted Stock Units ("PRSUs") The LTI structure currently offers participants a diversified award of 50% stock options and 50% PRSUs that can provide more consistent value than an award of stock options alone. Further, we believe this structure assists the Company in remaining competitive within the global labor market and creates a compelling and valuable long-term incentive for participants. For 2022, we anticipate two performance metrics for the PRSUs, and that pay-outs will be determined based 50% on the Company's relative total shareholder return against the S&P 500 Health Care Index constituents and 50% on the Company's constant currency revenue growth. We will provide additional details and information on this PRSU design in our around February 2022. We will review the performance metrics, equity award types and value mix in conjunction with the 2022 annual grant and will communicate when the Compensation and Management Development Committee of the Company's Board of Directors ("Compensation Committee") has made these determinations. Thereafter, the applicable performance metrics, equity award types and value mix will be subject to annual review and approval by the Compensation Committee. Exhibit 10.4 For 2022, your estimated LTI grant date fair value in this role will be approximately $1,300,000 (USD). We anticipate the grant date of the 2022 award will be in or around February 2022, subject to the Compensation Committee's approval. LTI grant values are based upon our compensation philosophy, which is reviewed annually by the Compensation Committee and adjusted as warranted. Please keep in mind that your job responsibilities, performance against your goals and objectives, the overall financial results of the Company and peer group / market compensation practices also impact LTI grant values each year. All eligible equity awards are made in USD. All equity awards are subject to Compensation Committee approval and other terms and conditions of the 2009 Stock Incentive Plan, as amended from time to time, award agreements, and your execution of a non-compete agreement in the form provided by the Company. Working time and holiday 6.1 The working hours result from the requirements of the function, and you will not be eligible for paid overtime or excess overtime, either in cash or time off. To compensate overtime, you will be entitled to 5 additional vacation days per calendar year. 6.2 The annual holiday entitlement is according to the Collective Employment Agreement of the Engineering Industry (hereinafter referred to as the "GAV"). 6.3 In case of incapacity due to illness, accident or the like to perform the employment duties required under this agreement, you shall notify the employer immediately and shall provide a medical certificate evidencing such incapacity as of the 4th day of such incapacity. However, the employer is free at any time to request a medical certificate from the first day of absence. 7.2 All housing payments according to the policy rules may be taxable according to the Swiss law. Exhibit 10.4 9. Confidentiality, Non-Competition, and Non-Solicitation Agreement You commit to sign as an attachment to this agreement a Confidentiality, Non-Competition, and Non-Solicitation Agreement which shall apply throughout employment and for certain periods thereafter. View More

Salary and Bonus. During the Officer Term, the Executive shall receive a base salary at a rate of $245,000 per annum (the "Base Salary"), payable in substantially equal semi-monthly installments. The Compensation Committee of the Board shall consult with the CIO and review the Executive's Base Salary at annual intervals, and may increase the Executive's annual Base Salary from time to time as the Committee deems to be appropriate. Subject to Section 12, the Executive will have an annual cash bonus opportunity for... each calendar year during the Officer Term (the "Annual Bonus") of from $50,000 to $100,000 based upon performance goals that are established by the Board or the Compensation Committee of the Board, as the case may be, in its sole discretion. In the event an Annual Bonus is payable pursuant to this Section 3(a), such bonus shall be paid to the Executive no later than March 15th of the year after the year to which the bonus relates. (b) Consulting Term. During the Consulting Term, the Executive shall receive a consulting fee at a rate of $75,000 per annum (the "Consulting Fee"), payable in substantially equal semi-monthly installments. During the Employment Term, any options, restricted shares or other awards granted under the Company's long-term incentive plan (the "Plan") shall be at the discretion of the Compensation Committee of the Company's Board. Notwithstanding the foregoing, the Executive shall be eligible to receive an award of restricted share units under the Plan for each calendar year during the Officer Term for that number of underlying shares that has a fair market value of $500,000 based upon performance or service goals that are established by the Board or the Compensation Committee of the Board, as the case may be, in its sole discretion. (b) Vacation. The Executive shall be entitled to up to four (4) weeks of vacation during each year during the Officer Term and any extensions thereof, prorated for partial years. The Executive shall not be entitled to paid vacation during the Consulting Term. 2 (c) Business Expenses. The Company shall reimburse the Executive for all reasonable expenses he incurs in promoting the Company's business, including expenses for travel and similar items, upon presentation by the Executive from time to time of an itemized account of such expenditures. Any reimbursement of expenses made under this Agreement shall only be made for eligible expenses (including transportation and cellular service expenses as set forth above) incurred during the Employment Term, and no reimbursement of any expense shall be made by the Company after December 31st of the year following the calendar year in which the expense was incurred. The amount eligible for reimbursement under this Agreement during a taxable year may not affect expenses eligible for reimbursement in any other taxable year, and the right to reimbursement under this Agreement is not subject to liquidation or exchange for another benefit. The Executive will comply with the Company's policies regarding these benefits, including all Internal Revenue Service rules and requirements. (d) Professional Expenses. Each calendar year during the Officer Term, the Company agrees to reimburse the Executive for up to $10,000 of reasonable professional expenses (i.e., accounting, financial planning, estate planning expenses) incurred by the Executive during such year for personal advice rendered to the Executive. The Executive shall not be entitled to reimbursement of professional expenses incurred by the Executive during the Consulting Term. (e) Other Benefits and Perquisites. The Executive shall be entitled to participate in the benefit plans provided by the Company for all employees, generally, and for the Company's executive employees. The Company shall be entitled to change or terminate these plans in its sole discretion at any time. View More