2002 Bonus. Executive shall be eligible to earn a bonus for 2002, ---------- paid annually based on the following amounts, if applicable:
2002 Bonus. Employee's target bonus, subject to all of the terms and conditions of this Agreement, shall be $100,000, and shall be calculated based upon two components: 1) earnings growth, and, 2) meeting company goals, weighted 75% and 25%, respectively. The earnings component of the bonus amount for 2002 will be determined from the table below: FY02 Earnings Bonus Amount Note 1: Bonus amounts are interpolated between earnings hurdles linearly. Note 2: FY01 Earnings = FY01 operating profit minus interest expenses plus miscellaneous income; and before GPX management fee. The goals component of the bonus for 2002 will be determined by the Steering Team at the conclusion of the year. The Steering Team shall consist of Xxxxxx X. Xxxxxxx, Xxxxx Xxxxxxxxx, Xxxx Xxxxx, Xxxxx Xxxxxx, Xxxxx Xxxxxxx and Employee. The Board of Directors shall determine whether earnings growth resulting from acquisitions will be included in Employee's bonus determination. The total bonus will be the sum of the earnings and goal bonus amounts. In any determination by the Steering Committee of Employee's bonus, Employee agrees to recuse himself from any such proceedings.
2002 Bonus. Employee's target bonus, subject to all of the terms and conditions of this Agreement, shall be $100,000, and shall be calculated based upon two components: 1) earnings growth, and, 2) meeting company goals, weighted 75% and 25%, respectively. The earnings component of the bonus amount for 2002 will be determined from the table below: FY02 Earnings Bonus Amount
2002 Bonus. The Company shall pay Executive a bonus for the year ended December 31, 2002 in the amount of $450,000, payable at such time as executive officer bonuses are paid generally, but in no event later than April 30, 2003; provided, however, that such payment shall not be made in the event that Executive terminates his employment without Good Reason or the Company terminates Executive's employment for Cause prior to December 31, 2002.
2002 Bonus. Provided that Executive has performed his duties for Company in a professional and workmanlike manner and in accordance with this Agreement during 2002, Company shall pay Executive a bonus in January 2003 of not less than $20,000, which amount shall be subject to normal tax and other withholdings.
2002 Bonus. Within 2 business days following expiration of the revocation period specified in Paragraph 10, Xxxxxx will receive a bonus payment in the amount of $19,089.00, less withholding.
2002 Bonus. Executive shall receive a bonus for 2002 in the amount of $109,000. Such Bonus shall be paid to Executive as part of the Severance Payment set forth in Section 5, below.
2002 Bonus. The Company will pay at least 50% of Executive’s 2002 Target Bonus amount for the fiscal year ending December 31, 2002, which shall be paid at the same time and in the same manner as Target Bonuses for the same time period are generally paid to the Company’s senior executives (but in no event later than April 30, 2003). The Executive’s “2002 Target Bonus,” and the determination of whether to pay Executive more than 50% of the 2002 Target Bonus, shall be established by the Compensation Committee of the Board of Directors of the Company in its sole discretion; provided that the Company shall not reduce the dollar amount of the 2002 Target Bonus currently in effect.
2002 Bonus. Employee's target bonus, subject to all of the terms and conditions of this Agreement, shall be $100,000, and shall be calculated based upon two components: 1) earnings growth, and, 2) meeting company goals, weighted 75% and 25%, respectively. The earnings component of the bonus amount for 2002 will be determined from the table below: FY02 Earnings Bonus Amount The goals component of the bonus for 2002 will be determined by the Steering Team at the conclusion of the year. The Steering Team shall consist of Xxxxxx X. Xxxxxxx, Xxxxx Xxxxxxxxx, Xxxx Xxxxx, Xxxxx Xxxxxx, Xxxxx Xxxxxxx and Employee. The Board of Directors shall determine whether earnings growth resulting from acquisitions will be included in Employee's bonus determination. The total bonus will be the sum of the earnings and goal bonus amounts. In any determination by the Steering Committee of Employee's bonus, Employee agrees to recuse himself from any such proceedings.
2002 Bonus. During the first week of April 2003, the Company will pay Xxxxxx $110,000, less normal or agreed upon withholding, representing his 2002 bonus.
