Salary Guarantee Clause Samples
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Salary Guarantee. The Company shall pay to Executive the salary set forth in Section 3 for the full Employment Term or any extensions thereof pursuant to Section 7(a) (or a pro rata portion thereof in the event the Executive's employment is terminated pursuant to Section 7 (b) or 7 (c) hereof prior to the completion of the full Employment Term or any extension thereof). All such salary payments are hereinafter referred to as the "Guaranteed Payments."
a. None of the Guaranteed Payments described in this Section shall prevent the Executive from receiving the Termination Benefits described in Section 13 of the Agreement.
b. All Guaranteed Payments described in this Section 4 and payable to the Executive shall be payable to the Executive's estate in the event of death of Executive.
c. In the event of death or any physical or mental disability which renders Executive unable to fulfill his duties pursuant to Section 1 of this Agreement, all Guaranteed Payments shall be made to Executive's spouse, his attorney in fact, his personal representative, his guardian, or any other such person legally authorized to receive monetary payments due and owing to Executive. Further, in the event of death, any physical or mental disability which renders Executive unable to fulfill his duties hereunder or involuntary termination of Executive by the Company, without cause, the Company shall, in good faith, liquidate Executive's investment in the Company and payment therefore shall be made to Executive, Executive's spouse, his attorney in fact, his personal representative, his guardian, or any other such person legally authorized to receive monetary payments due and owing to Executive. If the Company does not possess sufficient funds to make a good-faith liquidation, then the Company shall use its best efforts to find a buyer for the stock. The definition of "cause" shall include, but not be limited to, the definition of "cause. in the California Labor Code, and shall also include Executive's failure to submit to the general supervision, orders, advice and direction of the Board of Directors of the Company, and shall include failure of performance, within the sole discretion of the Board of Directors; provided, however, that "cause" shall not include termination because of an acquisition of the Company, which is provided for in paragraph 8 hereinbelow.
Salary Guarantee. All salaries payable to the Executive under the Agreement will be guaranteed (the "Guaranteed Payments") as of the effective date of the Agreement for the full Employment Term of the Agreement except for terminations for violations found in Section 7(b), (d) or (e) hereof.
(a) After the initial three year Employment Term of Guaranteed Payments, any additional one year extensions made pursuant to the terms of Section 7(a) will be guaranteed once the notice period for the extension or termination period found in Section 7(a) has passed.
(b) None of the Guaranteed Payments described in this Section shall prevent the Executive from receiving the Termination Benefits described in Section 13 of the Agreement.
(c) All Guaranteed Payments described in this Section and payable to the Executive shall be payable to the Estate of Raymond J. Ohlson ▇▇ ▇▇▇ ▇▇▇▇▇ ▇f death of the Executive.
(d) In the event of any mental disability which renders the Executive unable to fulfill his duties pursuant to Section 1 of this Agreement, all Guaranteed Payments shall be made to Raymond J. Ohlson'▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇rney in fact, his personal representative, his guardian, or any other such person legally specifically listed, to whomever is legally authorized to receive monetary payments due and owing to Raymond J. Ohlson.
(▇) ▇▇ ▇▇▇ ▇▇▇nt of any physical disability which renders the Executive unable or unwilling to fulfill his duties pursuant to Section 1 of this Agreement, all Guaranteed Payments shall be made directly to the Executive.
(f) Upon the termination of Executive=s employment for any reason other than pursuant to Section 7(b), (d) or (e) hereof, the Company shall pay to Executive in a lump-sum payment, within thirty (30) calendar days after such termination, the salary received by him on the date of such termination in an amount equal to two (2) years of annual salary.
Salary Guarantee. Regardless of the length of the Executive's employment by the Company, the Company agrees to pay the Executive at least $380,000 as salary, so long as the Executive's employment is not terminated for Cause and the Executive does not resign without Good Reason. Such guaranteed salary payments are in addition to, and not in lieu of, any payments to which the Executive may become entitled in accordance with Section 7.
Salary Guarantee. At no time will any principal be paid less than the highest member of the Waverly Education Association (Step 11 MA+45 …currently $81,922.00).
Salary Guarantee. All salaries payable to the Executive under the Agreement will be guaranteed (the "Guaranteed Payments") as of the effective date of the Agreement for the full Employment Term of the Agreement except for terminations for violations found in Section 8 (b)(c) or (d) hereof.
(a) All Guaranteed Payments described in this Section and payable to the Executive shall be payable to the Estate of Robert B. Neal in the even▇ ▇▇ ▇▇▇▇▇ of the Executive. After the initial Employment Term of Guaranteed Payments, any additional one year extensions made pursuant to the terms of Section 8(a) will be guaranteed once the notice period for the extension of termination period found in Section 8(a) has passed.
(b) In the event of any mental disability which renders the Executive unable to fulfill his duties pursuant to Section 1 of this Agreement, all Guaranteed Payments shall be made to Robert B. Neal's spouse, his ▇▇▇▇▇▇▇▇ ▇▇ ▇▇▇t, his personal representative, his guardian, or any other such person legally specifically listed, to whomever is legally authorized to receive monetary payments due and owing to Robert B. Neal.
Salary Guarantee a. For those STs who sign a written commitment for a four (4) month period to take one (1) extra shift each month during that period, the Hospital will guarantee 80% of those employees’ position each month. Open shifts will be designated by the Hospital during the normal scheduling process, and the employees must sign up on or before the 18th of the preceding month. Shifts will be granted on a first come, first served basis. The extra shift will count towards the guarantee, if worked. (Example: A person who is normally scheduled for 12 shifts in a month or 96 hours is guaranteed to be paid for 76.8 hours or 80% of 96. After signing up for an additional 8 hours, the person now has 104 hours scheduled. The Hospital guarantees that the employee will be paid for at least 76.8 of those hours if the employee works or is available to work.)
b. Persons holding 1.0 and .9 positions are considered guaranteed and do not need to make a commitment for an extra shift.
c. If a person subject to the guarantee takes leave with or without pay, gives a shift away, takes vacation, is ill, or volunteers for low census, those hours will be considered worked for purposes of measuring or paying the guarantee.
d. The guarantee will be based on number of shifts actually scheduled in each month.
e. Low census will be assigned in the following order:
(1) STs not on the guarantee with the least low census.
(2) STs in the guarantee with the least low census.
f. When an ST participating in the plan reaches the number of low census hours beyond which he/she would drop below 80%, he/she should consult with the Director of Surgical Services or her designee as to the projects that could be undertaken if direct care work is unavailable.
g. For ST on callback, the weekend premium shall begin at the end of the scheduled shift on Friday and end at 7:00 a.m. on Monday.
Salary Guarantee. Notwithstanding Paragraph 3(a), above, in the event Company terminates this Agreement for any reason other than just cause, Company shall continue to pay Migl▇▇▇'▇ ▇▇▇ary and provide Migl▇▇▇'▇ ▇▇▇efits for a period of one (1) year following the date of termination. Just cause for the purposes of this Agreement shall be defined as any of the following: (i) failure of Migl▇▇▇ ▇▇ perform competently any duty assigned to him which nonperformance rises to the level of the industry standard for just cause termination, (ii) failure of Migl▇▇▇ ▇▇ perform any provision under this Agreement, or (iii) Migl▇▇▇'▇ ▇▇▇honesty or fraud. Company may not terminate this Agreement for just cause under Paragraph 3(d)(i) or 3(d)(ii) without having provided Migl▇▇▇ ▇▇▇h written notice of such cause and a period of sixty (60) days to take corrective action.
Salary Guarantee a. A salary level can only be reduced if the employee’s job performance warrants it. If the employer is considering such a reduction, the employee will be informed in writing. The employee will be given the opportunity to improve his/her performance over a period of at least six months. Two months before the expiration of this period, the employer will issue a final warning before proceeding with the salary reduction.
b. As from April 1, the employer guarantees that employees whose assessment over the preceding calendar year was at least “good performer” and who have not yet reached scale position 90 of their salary scale, will be granted an individual salary increase of at least 1.5%.
Salary Guarantee. Notwithstanding Paragraph 3(a), above, in the event Company terminates this Agreement for any reason other than just cause, Company shall continue to pay Fabry's salary and provide Fabry's benefits for a period of one (1) year following the date of termination. Just cause for the purposes of this Agreement shall be defined as any of the following (i) failure of Fabry to perform competently any duty assigned to him which nonperformance rises, to the level of the industry standard for just cause termination, (ii) failure of Fabry to perform any provision under this Agreement, or (iii) Fabry's dishonesty or fraud. Company may not terminate this Agreement for just cause under Paragraph 3(d)(i) or 3(d)(ii) without having provided Fabry with written notice of such cause and a period of sixty (60) days to take corrective action. This salary guarantee shall also be personally guaranteed by Rona▇▇ ▇▇▇▇▇▇ Pol.
Salary Guarantee a. A salary level can only be reduced if the employee’s job performance warrants it. If the employer is considering such a reduction, the employee will be informed in writing. The employee will be given the opportunity to improve his/her performance over a period of at least six months. Two months before the expiration of this period, the employer will issue a final warning before proceeding with the salary reduction.
b. As from April 1, the employer guarantees that employees whose assessment over the preceding calendar year was at least “good performer” and who have not yet reached scale position 90 of their salary scale, will be granted an individual salary increase of at least 1.5%.
c. With the introduction of the new salary scales and the new grading method per 1-1-2019, the following transitional arrangements apply: • The minimum of the scale is guaranteed for every employee, being 70% (for grades 10 - 15) and 60% (for grades 16 - 19); • Employee retains the perspective of the old grade in case the new perspective turns out to be lower. In this case, the old maximum of the old salary scale belonging to the old grade is nominally guaranteed until the new perspective (120%) of the new salary scale reaches that level; • Employees who become "overscaled" as a result of the introduction of the new salary scales, retain the right to a collective increase (with the exception of those with a PM score of "No Fit");