Common use of Base and Incentive Compensation Clause in Contracts

Base and Incentive Compensation. (a) During the term of this Agreement, Executive shall be entitled to an annual base salary equal to not less than current year base salary per year. Executive’s annual salary will be reviewed annually by the Board of Directors of Employer on the basis of his or her performance to such date and the progress of Employer and shall be increased as of such date if so determined by the Board in its absolute discretion. The Board of Directors may also increase Executive’s compensation at any other time, in its absolute discretion. (b) Executive shall also be entitled to receive incentive compensation which compensation shall be calculated in accordance with the provisions of Employer’s incentive compensation plan, as in effect from time to time. Executive’s base salary shall be payable periodically according to the normal practice of Employer and Executive’s incentive compensation shall be payable as earned in accordance with the provisions of Employer’s incentive compensation plan.

Base and Incentive Compensation. (a) During the term of this Agreement, Executive shall be entitled to an annual base salary equal to not less than current year base salary $___,000 per year. Executive’s annual salary will be reviewed annually by the Board of Directors of Employer on the basis of his or her performance to such date and the progress of Employer and shall be increased as of such date if so determined by the Board in its absolute discretion. The Board of Directors may also increase Executive’s compensation at any other time, in its absolute discretion. (b) . Executive shall also be entitled to receive incentive compensation which compensation shall be calculated in accordance with the provisions of Employer’s incentive compensation plan, as in effect from time to time. Executive’s base salary shall be payable periodically according to the normal practice of Employer and Executive’s his incentive compensation shall be payable as earned in accordance with the provisions of Employer’s incentive compensation plan.