Regulation D Compensation Each Bank may require the Company to pay, contemporaneously with each payment of interest on the Euro-Dollar Loans, additional interest on the related Euro-Dollar Loan of such Bank at a rate per annum determined by such Bank up to but not exceeding the excess of (i) (A) the applicable London Interbank Offered Rate divided by (B) one minus the Euro-Dollar Reserve Percentage over (ii) the applicable London Interbank Offered Rate. Any Bank wishing to require payment of such additional interest (x) shall so notify the Company and the Administrative Agent, in which case such additional interest on the Euro-Dollar Loans of such Bank shall be payable to such Bank at the place indicated in such notice with respect to each Interest Period commencing at least three Euro-Dollar Business Days after the giving of such notice and (y) shall notify the Company at least five Euro-Dollar Business Days prior to each date on which interest is payable on the Euro-Dollar Loans of the amount then due it under this Section.
Salary Advancement H. The City Manager may approve the appointment of an employee who is to be laid off to an existing vacancy in a lower class for which the employee is qualified without requiring an examination, provided the concerned department head so recommends. I. The names of regular employees who have been laid off or bumped down due to reduction in force shall be placed on an appropriate layoff reemployment list according to date separated or bumped down and shall be eligible for reemployment. The last employee laid off or bumped down shall be the first employee on the list, with other employees listed in sequential order thereafter. Each employee on the layoff reemployment list shall remain on that list for 1 year, at which time the list expires unless extended by the City Manager. Names of employees not responding to written notification of an opening within 10 working days shall be removed from the reemployment list. The City Manager can extend the active period of the reemployment list or individual employee's eligibility on such list for a 6-month period as determined to be in the best interests of the City. J. Notice of recall from layoff shall be by return-receipt-requested mail and shall specify the date for reporting to work, which shall not be more than 21 calendar days from the date the notice is received. Notice shall be deemed to have been received when sent to the last known address on file with the City and attempted delivery or delivery is certified by the Postal Service. Upon receiving notice, the person on layoff shall have 5 calendar days to accept or decline the recall opportunity. An employee who fails to respond within the 5 calendar days, refuses recall, or fails to report on the prescribed date within the 21-calendar-day maximum thereby waives all further right to recall and reinstatement as an employee. Where recall is declined, the City will proceed to the next name on the reemployment list and follow the same notice and response procedure. This process will continue through the list until recall needs are met on the list or the list is exhausted. K. A person appointed from a reemployment list must serve a new probationary period if recall from such list occurs more than 90 calendar days after the effective date of layoff. The new probationary period in such circumstances shall be 6 months. L. Reemployed employees shall receive the following: 1. Retention of full-time service seniority accrued at the date of layoff. 2. The salary for the classification in effect as of the date of return, at the same step as the date of layoff. 3. The accrual rate of vacation and sick leave in effect for the employee's seniority level and class at the time of rehire. 4. All the benefits or programs in effect at the time of layoff shall be forfeited unless they are still applied to the classification or salary range at the time of rehire or provided to new hires as of that date. M. An employee who elects to resign in lieu of layoff, or while laid off, shall forfeit all rights to reemployment and is entitled only to those rights related to severance from City employment.
Other Compensation and Fringe Benefits In addition to any executive bonus, pension, deferred compensation and stock option plans which the Company may from time to time make available to the employee upon mutual agreement, the Employee shall be entitled to the following: (a) The standard Company benefits enjoyed by the Company's other top executives. (b) Payment by the Company of the Employee's initiation and membership dues in all social and/or recreational clubs as deemed necessary and appropriate by the Employee to maintain various business relationships on behalf of the Company; provided, however, that the Company shall not be obligated to pay for any of the Employee's personal purchases and expenses at such club. (c) Provision by the Company during the Term and any extensions thereof to the Employee and his dependents of medical and other insurance coverage under the Company's Executive Medical Plan. (d) Provision by the Company of supplemental disability insurance sufficient to provide two-thirds of the Employee's pre-disability minimum base annual salary. (e) An annual incentive bonus for each calendar year included in this Agreement calculated pursuant to a formula substantially similar to (and the formula of which will not yield a bonus less than) the FY 2001 Incentive Plan adopted by the Compensation Committee of the Company with a target bonus based upon 100% of base annual salary, a copy of which is attached hereto as Exhibit A ("Incentive Bonus"); provided, however, that the Employer's stockholders approve an annual incentive bonus plan containing substantially the terms of the Incentive Bonus prior to its payment in accordance with Section 162(m) of the Internal Revenue Code of 1986, as amended, and the regulations promulgated thereunder. The annual bonus shall be paid no later than March 15th of the following year and is fully vested at the end of each year in the event of a non-renewal of this Agreement by the Company. Subject to Section 7 below, the annual bonus shall be pro-rated for any partial employment year. The Company shall deduct from all compensation payable under this Agreement to the Employee any taxes or withholdings the Company is required to deduct pursuant to state and federal laws or by mutual agreement between the parties
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 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.