Common use of Compensation Generally Clause in Contracts

Compensation Generally. Except as provided herein with respect to Employee's Sign On Bonus at ▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ at Section 6, starting Base Salary, and Performance Year 2013 Performance Bonus and LTI compensation targets, the granting of all compensation, as well as its amount, is at management's sole discretion and is contingent upon the Employee's individual performance, the performance of the Employer, the performance criteria defined by the Employer's compensation plans, and the Employee's length of service during the year for which it is being granted. Guidelines and continued eligibility are determined annually, and are subject to change from year to year. The continuation of any compensation program is subject to management's discretion. Salary and non-salary compensation, based on guidelines and eligibility, as well as the Employee's performance, are determined at year-end, once the Employer results have been assessed, and paid and granted during the first quarter of the following year. During her employment Employee will be eligible for salary, bonus and LTI compensation commensurate with employees similarly situated to Employee's title, reporting level and responsibilites. Any individual tax obligations that may arise based on the Employee's employment in any jurisdiction are solely the Employee's. The Employer will have no responsibility, directly or indirectly, with respect to such obligations, including any obligation to pay, reimburse or gross up any payments to the Employee.

Appears in 1 contract

Sources: Employment Agreement (Johnson & Johnson)

Compensation Generally. Except as provided herein with respect to Employee's Sign On Bonus at ▇▇▇▇▇▇▇ ▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇ at Section 6, starting Base Salary, and Performance Year 2013 Performance Bonus and LTI compensation targets, the granting of all compensation, as well as its amount, is at management's sole discretion and is contingent upon the Employee's individual performance, the performance of the Employer, the performance criteria defined by the Employer's compensation plans, and the Employee's length of service during the year for which it is being granted. Guidelines and continued eligibility are determined annually, and are subject to change from year to year. The continuation of any compensation program is subject to management's discretion. Salary and non-salary compensation, based on guidelines and eligibility, as well as the Employee's performance, are determined at year-end, once the Employer results have been assessed, and paid and granted during 7/14 the first quarter of the following year. During her employment Employee will be eligible for salary, bonus and LTI compensation commensurate with employees similarly situated to Employee's title, reporting level and responsibilites. Any individual tax obligations that may arise based on the Employee's employment in any jurisdiction are solely the Employee's. The Employer will have no responsibility, directly or indirectly, with respect to such obligations, including any obligation to pay, reimburse or gross up any payments to the Employee.

Appears in 1 contract

Sources: Employment Agreement