Annual Base Salary and Target Bonus Continuation Clause Samples

The "Annual Base Salary and Target Bonus Continuation" clause ensures that an employee continues to receive their regular base salary and any target bonus payments for a specified period, typically following certain events such as termination without cause or during a severance period. In practice, this means that if the employee is let go under qualifying circumstances, the employer remains obligated to pay the employee's standard annual salary and a pro-rated or full target bonus as if the employment had continued for the agreed duration. This clause provides financial security to the employee during transitions and helps mitigate the impact of unexpected job loss by guaranteeing continued compensation for a set time.
Annual Base Salary and Target Bonus Continuation. For a period of twelve (12) months beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal the sum of Executive's then-current Annual Base Salary and Target Bonus for the year in which the Date of Termination occurs. Payments under any long term cash incentive plan are not part of or included in this calculation.
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Annual Base Salary and Target Bonus Continuation. For the remainder of the Employment Period, the Company shall pay to the Executive, the Executive’s then-current Annual Base Salary and Current Target Bonus as would have been paid to the Executive had the Executive remained in the Company’s employ throughout the Employment Period; provided that in all cases the Executive shall receive, at minimum, the then-current Annual Base Salary and Current Target Bonus for the remainder of the Employment Period, or for a period beginning on the Date of Termination and ending one year thereafter, whichever is longer. The Company at any time may elect to pay the balance of such payments then remaining in a lump sum, in which case the total of such payments shall be discounted to present value on the basis of the applicable Federal short-term monthly rate as determined according to Code Section 1274 (s) for the month in which the Executive’s Date of Termination occurred.
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Annual Base Salary and Target Bonus Continuation. (i) If the Date of Termination of the Executive under this Section 4.1 occurs on or prior to the second anniversary of the Effective Date, then, for a period of two years, beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the Executive’s then-current Annual Base Salary for the year in which the Date of Termination occurs. Additionally, in this case, for a period of one year, beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the Executive’s then-current Target Bonus for the year in which the Date of Termination occurs. Payments under any long term cash incentive plan are not part of or included in these calculations. (ii) If the Date of Termination of the Executive under this Section 4.1 occurs after the second anniversary of the Effective Date, then, for a period of one year, beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the Executive’s then-current Annual Base Salary and Target Bonus for the year in which the Date of Termination occurs. Payments under any long term cash incentive plan are not part of or included in this calculation.
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Annual Base Salary and Target Bonus Continuation. For a period of twenty-four (24) months beginning in the month after the Date of Termination, the Company shall pay to the Executive on a monthly basis one-twelfth of an amount equal to the sum of (1) Executive’s then-current Annual Base Salary for the year in which the Date of Termination occurs and (2) the average of the annual incentive bonuses paid to the Executive with respect to the three fiscal years of the Company ending before the Date of Termination. Such monthly payments shall be made on the first day of each month during the payment period. Payments under any long term cash incentive plan or equity incentive plan are not part of or included in this calculation.
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Related to Annual Base Salary and Target Bonus Continuation

  • Annual Base Salary During the Term, Executive shall receive a base salary at a rate of $500,000 per annum, which shall be paid in accordance with the customary payroll practices of the Company and shall be pro-rated for partial years of employment. Such annual base salary shall be reviewed (and may be adjusted) from time to time by the Board (such annual base salary, as it may be adjusted from time to time, the “Annual Base Salary”).

  • Base Salary and Bonus As compensation for the Executive's services under this Agreement, the Executive shall receive and the Company shall pay a weekly base salary set forth on Exhibit A. Such base salary may be increased but not decreased during the Term or Renewal Period in the Company's discretion based upon the Executive's performance and any other factors the Company deems relevant. Such base salary shall be payable in accordance with the policy then prevailing for the Company's executives. In addition to such base salary, the Executive shall be entitled during the Term or Renewal Period to a performance bonus set forth on Exhibit A and to participate in and receive payments from, at the Company's election, other bonus and other incentive compensation plans, if any, as may be adopted by the Company.

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Base Salary Executive will be paid an annual base salary, during the Term, in the amount set forth in Addendum A, as may be increased or decreased by Employer from time to time (“Base Salary”). The Base Salary shall be payable by Employer in regular installments in accordance with Employer’s general payroll practices (in effect from time to time). All amounts payable to Executive as compensation hereunder shall be subject to all required and customary withholding by Employer.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.