Salary rates are yearly, bonuses are percentages of that salary, and shares are in quantity. Payment schedule is biweekly or monthly. Paid time off has no specific limit, but subject to approval by management (usually just don't take more than two weeks at a time and plan ahead according to workload). Sick/parental leave depends on federal and local laws. Federal holidays are mandatory.

This compensation package is reviewed yearly, and your role is simply a job title. I'm approaching middle age and have worked my entire adult life. Nowhere have I ever seen any hours specified. The closest to that is when I've had to help HR fill in the billable hours on timesheets for specific projects with certain clients. That's usually just approving whatever blanks Jira filled in for ServiceNow.

I'm, of course, not talking about working at a startup.