Salary and Incentive Compensation Clause Samples

Salary and Incentive Compensation. For services rendered under this Agreement, the Company shall pay the Executive a monthly salary of $17,455.83 paid semi-monthly in accordance with the Company’s customary payroll practice.

Salary and Incentive Compensation. The compensation for the Executive shall include both a salary (“Base Salary”) and participation in short term and long term incentive plans. This compensation will be reviewed by the Compensation Committee of the Board of Directors (“Compensation Committee”) on at least an annual basis, and upon such annual review, may be changed or adjusted as deemed appropriate by the Compensation Committee or by the Board of Directors. The Company agrees that any modification of the Executive’s salary and incentive compensation will be documented in the official minutes and/or other documentation of the Compensation Committee.

Salary and Incentive Compensation. For all services rendered by the Executive in any capacity during the Employment Period under this Agreement, the Executive shall be paid as compensation (i) an annual salary of $48,000, or such higher salary as may be negotiated from time to time by the Association and the Executive plus (ii) such incentive compensation or bonus as may be awarded to the Executive from time to time by the Board of Directors. Such salary shall be payable in 52 equal weekly installments and any such incentive compensation or bonus shall be payable in the manner and at the time specified by the Board of Directors.

Salary and Incentive Compensation. For all services rendered by the Executive in any capacity during the Employment Period under this Agreement, the Executive shall be paid as compensation (i) an annual salary of $300,000, or such higher salary as may be negotiated from time to time by the Bank and the Executive (hereinafter referred to as the "annual base salary") plus (ii) a bonus payable within 30 days after the end of each calendar year equal to ten percent (10%) of the net pre-tax profits of the Bank during such year up to a maximum of fifty percent (50%) of the Executive's then annual base salary. The annual base salary shall be payable in equal bi-weekly installments. For purposes of calculating Executive's bonus, "net pre-tax profits" means the Bank's gross revenues for such calendar year less all operating expenses and charges to income in accordance with generally accepted accounting principles, consistently applied.

Salary and Incentive Compensation. The Employee’s initial annual base salary (the “Annual Base Salary”), payable in accordance with the Company’s general payroll practices, in effect from time to time, shall be at the annual rate of $170,000. The Board shall review such base salary at least annually and may from time to time direct such upward adjustments in Annual Base Salary as the Board deems to be necessary or desirable in its sole and absolute discretion.

Salary and Incentive Compensation. During the Employment Period Executive shall be entitled to compensation from the Company as follows: a. For all services to be rendered by Executive to the Company during the Employment Period, including, without limitation, services as an executive, officer, director, employee or member of any committee of the Company or its subsidiaries, divisions, business units or affiliates, Executive shall be paid compensation in the form of a base or fixed salary, payable not less often than once each month, at the annual rate of Five Hundred Forty-Five Thousand Dollars ($545,000), with the opportunity for periodic annual reviews and increases in such rate as shall be determined in the sole discretion of the Board of Directors. b. Executive shall be paid additional compensation in the form of incentive compensation as follows: i. Executive shall be an "Eligible Employee" as that term is defined in the Company's Annual Incentive Compensation Plan (the "Annual Incentive Plan") and may receive incentive compensation as provided by its terms. Pursuant to the Annual Incentive Plan, Executive's "Bonus Percentage" (as defined) will be 50%. Executive's participation in the Annual Incentive Plan is subject to the terms and conditions of the Annual Incentive Plan, or any amended version of the Annual Incentive Plan or any successor or other annual incentive compensation plan which may be adopted and become legally effective during the Employment Period. ii. The Company acknowledges that in its agreement with Executive dated October 21, 1993, in order to replace long term benefits forfeited by Executive by leaving his prior employment and thereby to encourage Executive to accept employment with the Company, it granted to Executive rights to purchase 60,000 shares of the Company's common stock at a purchase price of $.25 per share subject to all the terms and conditions of the Company's 1975 Executive Incentive Purchase Plan, as amended ("Incentive Stock Plan"), rights vesting according to the following schedule: 20,000 shares on December 13, 1994, 20,000 shares on December 13, 1995 and 20,000 shares on December 13, 1996. The Company shall pay to Executive (or in the case of death, to Executive's legal representative) a cash amount equal to the excess, if any, of (A) $951,000 over (B) the aggregate fair market value of 60,000 shares of the Company's common stock, whether or not the shares have actually been acquired or disposed of by Executive, plus the aggregate gain, if any,...

Salary and Incentive Compensation. For all services rendered by the Executive in any capacity during the Employment Period under this Agreement, subject to Section 7(e) hereof, the Executive shall be paid as compensation (1) an annual salary of $185,000, or such higher salary as may be negotiated from time to time by Numerex and the Executive. Such salary shall be payable in accordance with the standard pay schedule established for Numerex executives and any discretionary bonus shall be payable in the manner and at the time specified by the Board of Directors.

Salary and Incentive Compensation. Employee shall be paid an annual salary of $85,000 during the Term of Employment. Employee shall be entitled to such increases in his salary as the Board of Directors of the Company shall determine in its sole discretion. Employee shall be entitled to participate in such incentive compensation plans or programs as the Company's Board of Directors may elect to adopt for the benefit of all management personnel of the Company.

Salary and Incentive Compensation. For services --------------------------------- rendered under this Agreement, the Company shall pay the Executive a salary of $88,000 per annum beginning December 1, 1993. In addition, the Company will pay you, as additional compensation, an amount equal to 2.2% of your base salary in lieu of Company contributions to the Company's 401-K Plan until you are eligible to participate in the 401- K Plan, plus an amount sufficient to pay the federal and state income taxes on such additional compensation.