Increase in Base Salary Clause Samples

Increase in Base Salary. The Agreement is hereby amended, effective as of the Amendment Effective Date, by adding the following sentence to the end of Section 3(a): “Effective as of February 25, 2019, Executive’s base salary is increased to four hundred and seventy-five thousand U.S. dollars ($475,000.00) per annum.”

Increase in Base Salary. Immediately following the first fiscal quarter in which the Company shall have achieved revenues in excess of $1,250,000, the Base Salary shall be increased to the rate of $75,000 per annum. Immediately following the first quarter in which the Company shall have achieved revenues in excess of $2,500,000, the Base Salary shall be increased to the rate of $100,000 per annum. Immediately following the first quarter in which the Company shall have achieved revenues in excess of $3,750,000, the Base Salary shall be increased to the rate of $120,000 per annum.

Increase in Base Salary. On November 1 of each year during the Employment Term, the Executive’s Base Salary shall be increased by a percentage which shall equal the greater of 3% or the percentage increase in the consumer price index for the New York-Northern New Jersey-Long Island, NY-NJ-CT metropolitan area, as reported by the United States Department of Labor, for the 12-month period ended the immediately preceding October 31.

Increase in Base Salary. On November 4, 2004, on November 4, 2005 and on November 4, 2006, the Executive’s Base Salary shall be increased by a percentage which shall equal the greater of 3% or the percentage increase in the consumer price index for the New York-Northern New Jersey-Long Island, NY-NJ-CT metropolitan area, as reported by the United States Department of Labor, for the 12-month period ended the immediately preceding October 31. 4. Paragraphs (b) through (e) of Section 3.1 of the Agreement is hereby amended and restated in their entirety to read as follows: (b) a disability insurance policy providing $15,000 in monthly benefits commencing six months after a disability which prevents the Executive from performing the ordinary and necessary functions and duties of his employment; provided that the premium therefor shall not exceed the usual and customary rates charged by underwriters for such a policy for a person of the Executive’s age in good health. The amount of such policy shall be reduced to $7,500 commencing December 31, 2006. At the option of the Executive and in the place of the disability policy, the Company shall pay the cash equivalent of the premium for such policy to the Executive to be used by the Executive to pay such premium; (c) an automobile allowance of $2,150 per month, which shall be reduced to $1,075 per month commencing December 31, 2006; (d) an annual life insurance premium allowance of $35,000, which shall be reduced to $17,500 commencing December 31, 2006, payable in two installments in June and February of each year of the Employment Term hereof; (e) through December 31, 2006, continued use of the same Company car and driver which the Executive is using as of the date of this Agreement; and 5. Clause (ii) of the first sentence of the second paragraph of Section 5 is hereby amended and restated in their entirety to read as follows:

Increase in Base Salary. The Company will review the Base Salary payable to the Executive from time to time during the Initial Term and during the continuance of this Agreement and may, in its sole and absolute discretion, increase the Base Salary depending on the Executive’s performance of the Services and having regard to the financial circumstances of the Company.

Increase in Base Salary. Effective as of September 8, 2006 and commencing the first day following the day that the Employee executes this Agreement and returns it to the Company, the Company shall commence to pay to the Employee a salary at an annual rate of $400,000.00, payable in accordance with the Company’s standard payroll policies, and as may be periodically adjusted upward or downward by the Company in its discretion during its periodic review of base salaries (as adjusted, the “Base Salary”).

Increase in Base Salary. During the balance of the Term, and for each renewal Term, the Employee shall be entitled to increase in the Consumer Price Index for all Urban Consumers and Urban Wage Earners U.S. City Average issued by the United States Department of Labor Bureau of Labor Statistics, or its successor index ("CPI") over the preceding calendar year.

Increase in Base Salary. Section 1.03(a) of the Employment Agreement is hereby amended to provide as follows: (i) Notwithstanding the second sentence of Section 1.03(a) (which provides that the Base Salary shall not be adjusted during the Initial Term), effective February 1, 2002, Executive's Base Salary shall be increased to $500,000 per annum, payable in equal installments every other week; and (ii) After February 1, 2002, the Base Salary may be adjusted upward or downward (but not below $500,000 per annum) by the Board of Directors of the Company at any time (but not less frequently than annually) based upon Executive's contribution to the success of the Company and such other factors as the Board of Directors of the Company shall deem appropriate.

Increase in Base Salary. For each Employment Year after the current Employment Year (each such year a "SUCCESSIVE EMPLOYMENT YEAR"), Employee's Base Salary shall be subject to such increase, if any, for each such Successive Employment Year as shall be as determined by the Responsible Officer (subject to the approval of the Chairman of the Board of PCC) in an amount not less than ten percent (10%) in excess of the existing base salary, subject to any freeze or moratorium generally in effect to all senior or comparable (in terms of duties and compensation) management of PCC.