Example ContractsClausesAgreement to Salary Reduction
Agreement to Salary Reduction
Agreement to Salary Reduction contract clause examples
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Salary. The Base Salary is $330,000 annualized (the “Base Salary”), payable in installments in accordance with the Company’s regular payroll schedule.

Salary. The Officer shall be paid a salary of $220,000.00 per year (the "Salary"), which shall be reviewed by the Compensation Committee of the Board (the “Committee”) at least annually for increase, but not decrease. The Salary will be payable in accordance with the normal payroll procedures of the Company, or such other installments as the Officer and the Company from time to time mutually agreed upon. The Salary shall be prorated on a daily basis for any partial salary payment periods for which services are rendered at the end of the employment period.

Salary. During the Term of this Agreement, the Employee shall be paid an initial base salary (the “Base Salary”), payable bi-weekly, at an annualized rate of One Hundred Eighty Thousand Dollars ($180,000). The amount of the Base Salary may be increased from time to time at the sole discretion of the Board of Directors. Bonus: The Company shall pay Employee a bonus (the “Bonus”) as follows: # 3% of any net revenues. (ii) the Bonus may be paid, at the election of Employee, in cash or shares of Common Stock (calculated at the fair market value of such shares as determined by the Board). Cash bonus will be paid quarterly.

Salary. During the period from the Effective Date through the end of the Employment Term, the Company shall pay Employee an annual base salary, before deducting all applicable withholdings, of $500,000 per year, payable at the time and in the manner dictated by the Company’s standard payroll policies. Such minimum annual base salary may be periodically reviewed and increased (but not decreased without Employee's express written consent except in the case of a salary decrease for all executive officers of the Company) at the discretion of the CEO and/or the Company Board or a committee thereof (such annual base salary, including any increases, the "Annual Base Salary").

Salary. The Executive shall be entitled to receive for all services rendered by the Executive in any and all capacities in connection with the Executive’s employment hereunder a salary (as it may be adjusted from time to time, “Salary”) at the rate of $250,000 per annum, payable in equal installments in accordance with the prevailing practices of the Company (but not less frequently than monthly). In addition, an allowance shall be paid for living expenses incurred during periods when Executive is absent from his permanent residence (Denver, Colorado) on Company business. This allowance is estimated at $2,200 per calendar month inclusive of housing rental amounts, and any amount reimbursed in excess of that amount must be approved, in writing, by the Compensation Committee. Additionally, a maximum

Salary. The Company shall pay you base salary (as may be increased, “Salary”) at a rate of One Million Three Hundred Fifty Thousand Dollars ($1,350,000) per year for all of your services as an employee of the Company. Your Salary shall be subject to merit reviews, on or about an annual basis, while actively employed during the Contract Period and may, at that time, be increased but not decreased. Your Salary, less deductions and income and payroll tax withholding as may be required under applicable law, shall be payable in accordance with the Company’s ordinary payroll policy, but no less frequently than monthly.

Salary. For all services rendered by Executive under this Agreement Employer shall pay Executive a salary at the rate of $1,150,000.00 per year. Executive’s salary shall be payable bi-weekly in accordance with Employer’s usual practice for its officers. Performance reviews shall be conducted every calendar year. Salary increases shall be considered at each year end and shall be awarded at the discretion of the Board of Directors of Employer.

Salary. Your base salary will be $8,333.33 per semi-monthly pay period, which equates to $200,000 per year. You will also be eligible for a target bonus of $200,000, to be paid out quarterly, based on the achievement of agreed upon targets, including 30% annual revenue growth. The details of this plan will be finalized through mutual collaboration within your first 90 days of employment. In addition, you will be paid a sign-on bonus of $39,200.00, less deductions required by law. This amount will be subject to recapture should you voluntarily leave the Company prior to the 90-day anniversary of your start date.

Salary. The Company will pay you a starting salary beginning as of June 1, 2016 at the annual rate of $300,000, payable in accordance with the Company’s standard payroll schedule and subject to tax-related deductions and withholdings. This salary will be subject to adjustment pursuant to the Company’s employee compensation policies in effect from time to time.

Salary. During the Employment Period, Executive shall be paid a base salary at the rate of $200,000 per year, payable bi-weekly at such times as salaries are paid to other executive officers of Penns Woods. The Board of Directors of Penns Woods, or applicable Board Committee, shall review Executive’s base salary annually and may, from time to time, in its discretion increase Executive’s base salary. Any and all such increases in base salary shall be deemed to constitute amendments to this subsection to reflect the increased amounts, effective as of the dates established for such increases by appropriate corporate action.

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