Salary Amount Clause Samples
Salary Amount. The Company will pay to the Officer an amount equal to one times their base salary at the annualized rate which was being paid by the Company and/or subsidiaries to the Officer immediately prior to the Qualifying Termination.
Salary Amount. Subject to the Executive’s continued compliance with the requirements of Paragraphs 5 and 13 below, the Company will pay to the Executive, in accordance with Paragraph 3(f) below, an amount equal to one times the Executive’s base salary at the annualized rate which was being paid by the Company and/or its subsidiaries to the Executive immediately prior to the Qualifying Termination (the “Salary Component”).
Salary Amount. Full academic base salary will be paid for a sabbatical leave of six months and one-half academic base salary will be paid for one-year leave. Faculty practice and patient services salary components are not guaranteed during the leave but may be authorized in whole or in part by the chair if funds are available. Faculty are strongly urged to seek extramural support for salary, travel, per diem support, equipment and other expenses during the sabbatical. Salary support from external sources will reduce the salary from the University during a six-month leave but may be used to supplement the one-half salary during a year¶s leave. Applicable federal income tax, FICA, Medicare, state income tax, and state unemployment and disability tax will be based on the sabbatical salary and any compensation earned from externally funded sources. The mandatory employee retirement contributions (along with any employer retirement contributions) and supplemental 403(b) plan contributions will also be based on the sabbatical salary.
Salary Amount. You acknowledge and agree that effective during the period from the date of this Agreement until December 31, 2012, your base salary rate will be $0 and (ii) that effective January 1, 2013 your base salary rate will be $120,000 per year. The Company confirms that you will continue to be eligible to participate in any health insurance benefit plan of the Company from time to time in effect for which part-time employees of the Company are eligible to participate and that the Company will continue to pay the same amount of the premium for your participation in such plan as is paid by the Company immediately prior to the date of the Agreement. You acknowledge and agree that your base salary constitutes payment in full for all salary and wages to which you may become entitled for services rendered to the Company and that additional payment contemplated by this Agreement constitutes supplemental compensation. Without limiting the foregoing, you acknowledge and agree that the payment contemplated by Section 3 of this Agreement does not constitute “wages” within the meaning of the Massachusetts Weekly Payment of Wages Statute, M.G.L. ch. 149, sec. 148.