Common use of Basic Remuneration Clause in Contracts

Basic Remuneration. The Corporation shall pay the Employee a gross Salary in respect of each Year of Employment in the Employment Period (before deduction for income taxes and other required deductions, such as C.P.P. and E.I. contributions but excluding the Benefits paid by the Corporation as provided in the TLC Benefit Plan) of $175,000 (the "Basic Salary"), plus a $7,500 annual Car Allowance and a 5% annual Retirement Allowance, payable in equal installments on every second Friday in each month during such year, with a pro-rata adjustment in the Basic Salary in the event that such year begins or terminates on a day other than the second Friday in each month, the first payment to be made on March 3, 2000. The Basic Salary shall, in the sole and absolute discretion of the board of directors of the Corporation, be subject to an increase on the basis of an annual review (September 1st). The Basic Salary shall be prorated in respect of the First Year of employment such that the employee shall be entitled and the Corporation shall be required to pay in respect of each such year only that proportion of the Basic Salary that the number of days in the First Year of Employment is to 365.

Basic Remuneration. The Corporation shall pay the Employee a gross Salary salary in respect of each Year of Employment in the Employment Period (before deduction for income taxes and other required deductions, such as C.P.P. and E.I. contributions but excluding the Benefits paid by the Corporation as provided in the TLC Benefit Plan) of $175,000 168,000 (the "“Basic Salary"), ”) plus a $7,500 annual Car Allowance and a 5% annual Retirement Allowance, payable in equal installments on every second Friday in each month during such year, with a pro-rata adjustment in the Basic Salary in the event that such year begins or terminates on a day other than the second Friday in each month, the first payment to be made on March 3January 8, 20001999. The Basic Salary shall, in the sole and absolute discretion of the board of directors of the Corporation, be subject to an increase on the basis of an annual review (September 1st). The Basic Salary shall be prorated in respect of the First Year of employment such that the employee shall be entitled and the Corporation shall be required to pay in respect of each such year only that proportion of the Basic Salary that the number of days in the First Year of Employment is to 365.