Example ContractsClausesDeferred Compensation
Deferred Compensation
Deferred Compensation contract clause examples
Previous results

The Company will compensate and pay the President and CEO an annual base salary of eight hundred sixty-five thousand dollars ($865,000) equivalent to seventy two thousand eighty three dollars and thirty three cents ($72,083.33) per month for his services to the Company during the term of this Agreement.

Compensation. As compensation for the Services rendered by GSS to the Company pursuant to this Agreement and in addition to the expense allowance set forth in [Section 4] ("Expenses") below, the Company shall pay to GSS as set forth below: The Company shall issue to GSS and/or its designees 500,001 restricted shares of the Company's common stock, par value $0.0001 (the "Shares"), for aggregate consideration as set forth below: # 150,000 Shares delivered within three (3) business days following the Commencement Date, at a cost of $.01, which shall immediately vest and be deemed fully-paid and non-assessable upon; and # 38,889 Shares delivered on the first (1st) day of every calendar month, at a cost of $.01, starting the fourth (4th) month from the date of execution of this Agreement until the twelfth (12th) month from the date of execution of this Agreement. The foregoing Shares to be issued on a monthly basis shall vest the earlier of: # six (6) months from date the Shares are required to be delivered; or # January 1, 2017, and the Shares shall be deemed fully-paid and non-assessable Shares on the vesting date(s) as defined above. The Parties acknowledge and agree that in the event the Company elects to terminate this Advisory Agreement by timely delivery of the Termination Notice on or before a date three (3) months from the Commencement Date, no monthly installment of 38,889 Shares will be due and payable under this Advisory Agreement. The Shares shall be issued in the name of GSS and/or certain affiliates/employees of GSS pursuant to written instructions delivered to the Company by GSS with respect to each issuance, commencing with the initial issuance of 150,000 Shares within three (3) business days following the Commencement Date and each subsequent issuance, if any, setting forth the names of and the number of Shares to be issued to the designees who are employees and/or affiliates of GSS. The Company shall deliver to GSS and the Company's transfer agent, legal opinion letters for GSS and for each designee, at the time that the Shares are eligible to be sold pursuant to SEC Rule 144, upon GSS's request. However, the Company will also inform its transfer agent that it can rely on an outside legal opinion provided by GSS at the time the Shares are eligible to be sold pursuant to SEC Rule 144, if GSS and/or its employees/affiliates, decide to provide an outside legal opinion and provided that the form of such outside legal opinion is in a form and substance customary for such SEC Rule 144 legal opinions. It is understood that the total value of GSS's compensation pursuant to the Services rendered under this Agreement will not be recognized and can't be valued until after GSS and its designees receive the proceeds from the sale of all of the Shares. Notwithstanding the foregoing, the Parties acknowledge that the Company, as a public reporting company under the Securities Exchange Act of 1934 (the "Exchange Act") may be required to value the Shares issued to GSS and/or its designees during any quarterly period as compensation expense in the Company's reports filed with the SEC under the Exchange Act.

COMPENSATION. Employee’s compensation shall be paid as follows:

Compensation. The Company shall pay to Employee, for all services to be performed by Employee an annual base salary (“Base Salary”) at the rate of $463,500 per fiscal year, or such greater amount as may be authorized by the Compensation Committee of the Board of Directors of the Company (the “Compensation Committee”), in its sole discretion, upon annual review during the Term of employment, payable in periodic installments in accordance with the Company’s payroll practice in effect from time to time and prorated for any portion of a fiscal year (the Company’s fiscal year currently being the period from June 1 of each year through May 31 of the following year).

As compensation for the consulting services described above, Vulcan agrees to pay Consultant $20,000 per month for no more than 60 hours of work per month. In addition, at the time such payments are typically made in 2016, Consultant will receive 3/12s of what a full annual payment would have been for his participation in Vulcan’s Management Incentive Plan in 2015.

Compensation. If # any payment of principal of any LIBOR Loan is made by the Borrower to or for the account of a Lender other than on the last day of the Interest Period for such LIBOR Loan as a result of a payment or conversion pursuant to Sections 2.5, 2.6, 2.10, 5.1, 5.2 or 13.7, as a result of acceleration of the maturity of the Loans pursuant to Section 11 or for any other reason, # any Borrowing of LIBOR Loans is not made on the date specified in a Notice of Borrowing, # any ABR Loan is not converted into a LIBOR Loan on the date specified in a Notice of Conversion or Continuation, # any LIBOR Loan is not continued as a LIBOR Loan on the date specified in a Notice of Conversion or Continuation or # any prepayment of principal of any LIBOR Loan is not made as a result of a withdrawn notice of prepayment pursuant to Section 5.1 or 5.2, the Borrower shall after the Borrower’s receipt of a written request by such Lender (which request shall set forth in reasonable detail the basis for requesting such amount), pay to the Administrative Agent (within fifteen days after such request) for the account of such Lender any amounts required to compensate such Lender for any additional losses, costs or expenses that such Lender may reasonably incur as a result of such payment, failure to convert, failure to continue or failure to prepay, including any loss, cost or expense (excluding loss of anticipated profits) actually incurred by reason of the liquidation or reemployment of deposits or other funds acquired by any Lender to fund or maintain such LIBOR Loan.

Compensation. During the term of Advisors engagement hereunder, the Company agrees to pay the following:

Compensation. The parties agree that my sole compensation for services rendered pursuant to this Agreement shall be as set forth on Exhibit A.

Compensation. For the services described in Section 1.1 above, will pay Consultant a fee of $5,556 for each of the periods February 12, 2015 through February 28, 2015 and November 1, 2015 through November 15, 2015 and a fee of $11,111 per month for the period from March 1, 2015 through October 31, 2015, such amounts to be paid at the end of each month (and, for November, at the end of the service period), and will cause all unvested equity held by Consultant on the date hereof to continue to vest during the term of this Agreement in accordance with its terms. will reimburse Consultant for his reasonable costs and expenses incurred in connection with the performance of the services hereunder, subject to appropriate documentation and compliance with ’s expense policies.

Compensation. If this Agreement is terminated by Consultant pursuant to Section 5.2(a) or by for Cause pursuant to Section 5.2(c), no further amounts shall be payable hereunder, except for amounts previously earned and all unvested restricted stock units (RSUs) shall be forfeited. If this Agreement is terminated by without Cause pursuant to Section 5.2(b), shall pay all remaining amounts that would have been paid to Consultant through November 15, 2015 hereunder in a lump sum within two weeks of such termination and all unvested RSUs that would have vested on or before November 15, 2015 shall accelerate and vest on the termination date.

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.