Base Salary. During the Employment Period, the Executive shall receive an annual base salary (“Annual Base Salary”), which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Change of Control Date occurs. During the Employment Period, the Annual Base Salary shall be reviewed no more than 12 months after the last salary increase awarded to the Executive prior to the Change of Control Date and thereafter at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.
Base Salary. During the Employment Period, the Executive shall receive an annual base salary (“Annual(the “Annual Base Salary”), which shall be paid at a monthly rate,an annual rate at least equal to twelve12 times the highest monthly base salary paid or payable, including any base salary whichthat has been earned but deferred, to the Executive by the Company and its affiliated companiesor the applicable Affiliated Entity in respect of the twelve-monthone-year period immediately preceding the month in which the Change of ControlEffective Date occurs. The Annual Base Salary shall be paid at such intervals as the Company or the applicable Affiliated Entity pays executive salaries generally. During the Employment Period, the Annual Base Salary shall be reviewed at least annually, beginning no more than 12 months after the last salary increase awarded to the Executive prior to the Change of Control Date and thereafter at least annually.Effective Date. Any increase in the Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. The Annual Base Salary shall not be reduced after any such increase and the term Annual“Annual Base Salary as utilized in this AgreementSalary” shall refer to the Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.
Base Salary. During the Employment Period, the Executive shall receive an annual base salary (“("Annual Base Salary”Salary"), which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve-12‑month period immediately preceding the month in which the Change of ControlEffective Date occurs. During the Employment Period, the Annual Base Salary shall be reviewed no more than 12 months after the last salary increase awarded to the Executive prior to the Change of ControlEffective Date and thereafter at least annually.annually and shall be first increased no more than 12 months after the last salary increase awarded to the Executive prior to the Effective Date and thereafter at least annually by the higher of # the average increase (excluding promotional increases) in base salary awarded to the Executive for each of the three full fiscal years (annualized in the case of any fiscal year consisting of less than twelve full months or during which the Executive was employed for less than twelve months) prior to the Effective Date, and # the percentage increase (excluding promotional increases) in base salary generally awarded to peer executives of the Company and its affiliated companies for the year of determination. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies”"affiliated companies" shall include any company controlled by, controlling or under common control with the Company.
Base Salary. During the EmploymentProtected Period, the Executive shallwill receive an annual base salary (“Annuala Base Salary”), which shall beSalary, paid at a monthly rate, at least monthly, which initially will be equal to twelve12 times the highest monthly base salary paid or payable,that was payable to the Executive (for avoidance of doubt, including any base salary which has been earned but deferred, todeferred by the ExecutiveExecutive) by the Company and its affiliated companies in respectduring any of the twelve-month period immediately12 calendar months preceding the month in which the Change ofin Control Date occurs. During the EmploymentProtected Period, the Annual Base Salary shallwill be reviewed whenever the Company undertakes a salary review of the Executive’s peer officers, but no moreless than 12 months after the last salary increase awarded to the Executive prior to the Change of Control Date and thereafter at leastonce annually. Any increase in Annual Base Salary shallwill not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shallmay not be reduced after any such increase andduring the term AnnualProtected Period, regardless of whether the Base Salary as utilized in this Agreement shall refer to Annual Base Salary as sohas previously been increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.
Annual Base Salary. During the Employment Period, theThe Executive shall receivebe paid an annual base salary (“("Annual Base Salary”Salary"), which shall be paid at a monthly rate,in equal biweekly installments or otherwise in accordance with the Company’s then-current payroll practice, at least equal to twelve times the highest monthlyannual rate of base salary being paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respectAffiliated Companies as of the twelve-month period immediately preceding the month in which the Change of Control Date occurs. During the Employment Period, theEffective Date. The Annual Base Salary shall be reviewed no more than 12 months after the lastat least annually and shall be increased substantially consistent with increases in base salary increasegenerally awarded to other peer executives of the Executive prior to the Change of Control DateCompany and thereafter at least annually.its Affiliated Companies. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual"Annual Base SalarySalary" as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.
Annual Base Salary. During the Employment Period, theThe Executive shall receivebe paid an annual base salary (“("Annual Base Salary”Salary"), which shall be paid at a monthly rate,in equal biweekly installments or otherwise in accordance with the Company’s then-current payroll practice, at least equal to twelve times the highest monthlyannual rate of base salary being paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respectAffiliated Companies as of the twelve-month period immediately preceding the month in which the Change of Control Date occurs. During the Employment Period, theEffective Date. The Annual Base Salary shall be reviewed no more than 12 months after the lastat least annually and shall be increased substantially consistent with increases in base salary increasegenerally awarded to other peer executives of the Executive prior toCompany and its Affiliated Companies. Such increases shall in no event be less than the Changeincreases in the U.S. Department of Control Date and thereafter at least annually.Labor Consumer Price Index - U.S. City Average Index. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual"Annual Base SalarySalary" as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.
Base Salary. DuringFor services rendered by the Executive under this Agreement during the Employment Period, the ExecutiveCompany shall receivepay to the Executive an annual base salary (“Annual Base Salary”), which shall beevenly paid attwice a monthly rate, at least equal to twelve times the highest monthly base salary paidmonth or payable, including any base salary which has been earned but deferred, to the Executive byon such other schedule as salaried employees of the Company are generally and its affiliated companies in respectregularly compensated. Effective as of January 1, 2023, through the twelve-month period immediately precedingterm of this Agreement, the month in which the Change of Control Date occurs. During the Employment Period, the Annual Base Salary shall be reviewedat the rate of no moreless than 12 months after the last salary increase awarded to the Executive prior to the Change of Control Date and thereafter at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.$650,000 per year.
Annual Base Salary. During the Employment Period,Term of Employment, the ExecutiveCompany shall receivepay to Executive, in accordance with the Company’s Policies and practices in effect from time to time, an annual base salary (“Annual(the “Annual Base Salary”), which shall be paid at a monthly rate, at least equal to twelve times the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Change of Control Date occurs. During the Employment Period, the Annual Base Salary shall be reviewed no more than 12 months after the last salary increase awarded to the Executive prior to the Change of Control Date and thereafter at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company. of:
Base Salary. During the Employment Period, the Executive shall receive an annualExecutive’s base salary (“Annual Base Salary”), which shall be paid at a monthly rate, at least equal to twelve timesfour hundred thousand dollars ($400,000) per year (the “Base Salary”). The Base Salary may be adjusted in the highest monthly base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respectsole discretion of the twelve-month period immediately preceding the month in which the Change of Control Date occurs. During the Employment Period, the AnnualBoard. The Base Salary shall be reviewedpayable in a manner that is consistent with the Company’s usual payroll practices for senior executives but no moreless frequently than 12 months after the last salary increase awardedmonthly. The Company shall be obligated to thepay Executive prior to the Change of Control Date and thereafter at least annually. Any increase in Annualany earned but unpaid Base Salary shall not serve to limit or reduce any other obligation toin the Executive underevent of a separation as set forth in this Agreement. Annual Base Salary shall not be reduced after any such increase and the term Annual Base Salary as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.
Base Salary. During the Employment Period, the ExecutiveCompany shall receivepay the Executive, as compensation for the performance of the Executive’s duties and obligations under this Agreement, an annual base salary (“Annual Base Salary”), which shall be paid atof $340,000, payable in a monthly rate, at least equal to twelve timesmanner that is consistent with the highest monthlyCompany’s usual payroll practices for senior executives. The Executive’s base salary paid or payable, including any base salary which has been earned but deferred, to the Executive by the Company and its affiliated companies in respect of the twelve-month period immediately preceding the month in which the Change of Control Date occurs. During the Employment Period, the Annual Base Salary shall be reviewed no more than 12 months afterannually by each of the last salary increase awardedCompensation Committee of the Board or any successor to the Executive prior to the Change of Control Date and thereafter at least annually. Any increase in Annual Base Salary shall not serve to limit or reduce any other obligation to the Executive under this Agreement. Annual Base Salary shall not be reduced after any such increasecommittee (the “Committee”) and the term Annual Base SalaryBoard or for adjustment. Such adjustment, if any, shall be within the sole discretion of the Board. The annual base salary in effect at any given time is referred to herein as utilized in this Agreement shall refer to Annual Base Salary as so increased. As used in this Agreement, the term “affiliated companies” shall include any company controlled by, controlling or under common control with the Company.“Base Salary.”
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