CompUSA 2011 Annual Report Download - page 82
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5.3.3
No additional remuneration will be payable to the Employee other than already provided under this agreement;
5.3.4
There are no special terms or conditions relating to the Employee's return to the United Kingdom.
6
Hours of work
6.1
The normal working hours of the Employee shall be 9.00am to 6.00pm on Mondays to Fridays and such additional hours as are
necessary for the proper performance of his duties. The Employee acknowledges that he shall not receive further remuneration in
respect of such additional hours.
6.2
The parties each agree that the nature of the Employee's position is such that his working time cannot be measured and, accordingly,
that the Appointment falls within the scope of regulation 20 of the Working Time Regulations 1998.
7
Salary
7.1
The Employee shall be paid a basic salary of
£
250,000 per annum (inclusive of any fees due to the Employee by the Company or any
Group Company as an officer of the Company or any Group Company).
7.2
The salary paid to the Employee shall accrue from day to day and be payable monthly in arrears on or about the 1st of each month
directly into his bank or building society.
7.3
The salary paid to the Employee shall be reviewed by the Compensation Committee annually, with the first review to take place on
or around the first anniversary of the Commencement Date. The Company is under no obligation to award an increase following a
salary review. There will be no review of the salary after notice has been given by either party to terminate the Appointment.
7.4
The Company may deduct from the Employee's salary, or any other sums owed to the Employee, any money owed to any Group
Company by the Employee.
8
Expenses
8.1
The Company shall reimburse (or procure the reimbursement of) all reasonable expenses wholly, properly and necessarily incurred
by the Employee in the course of the Appointment, subject to production of VAT receipts or other appropriate evidence of payment.
8.2
The Employee shall abide by the policies of the Company on expenses as communicated to him from time to time.
9
Annual cash bonus
9.1
During each calendar year of the Appointment, the Employee will be eligible to earn a cash bonus representing a maximum of 75%
of his basic salary set out at clause 7.1 (the "Bonus"). The Employee's entitlement to the Bonus will be based on meeting certain
performance objectives established for him by the Company or Group Company in any calendar year. Seventy five percent (75%) of
the Bonus shall be based on the achievement of certain results / accomplishments by the Systemax Europe Technology Group and
twenty five percent (25%) of the Bonus shall be based on Systemax Inc.'s bonus plan for named executive officers (referred to as the
NEO Plan). If no performance objectives are established and agreed in writing in any calendar year, the Bonus will not be payable in
that calendar year.
9.2
The Bonus payment due to the Employee, if any, shall be paid to him within 75 days of the end of the calendar year in which the
Bonus was earned, in accordance with the Company practice.