2021 Annual Bonus. The Compensation Committee of the Board previously set the Executive’s annual target bonus for fiscal year 2021 at an amount equal to forty percent (40%) of the Executive’s base salary (“2021 Annual Bonus”). As an incentive to continue Executive’s employment with the Company, subject to the terms of this Agreement, the Executive’s 2021 Annual Bonus shall be earned and paid as follows: (a) fifty percent (50%) of the 2021 Annual Bonus shall be earned on the date in January 2022 when the Company pays annual bonuses to its employees, and (b) fifty percent (50%) of the 2021 Annual Bonus shall be earned following the achievement of the 2021 Annual Bonus milestone described on Exhibit A hereto; provided, however, that the second fifty percent (50%) of the 2021 Annual Bonus will not be earned earlier than April 1, 2022. The Executive shall not earn a portion of the 2021 Annual Bonus if the Executive voluntarily terminates his employment with the Company for any reason or the Company terminates his employment for Cause prior to the date that such portion of the 2021 Annual Bonus is earned. Each portion of the 2021 Annual Bonus shall be paid in full, less applicable withholdings, as soon as practicable following the date on which it is earned.
2021 Annual Bonus. The Company will provide you a one-time lump sum payment equal to your bonus under the Annual Bonus Program for 2021, based on actual performance for 2021. This payment will be made to you concurrently with the cash bonus payment to other similarly-situated employees under the Annual Bonus Program (but in all events prior to March 15, 2022, and in all cases in the 2022 calendar year). This payment is subject to all required withholdings and deductions, in accordance with normal payroll practices, and will be reflected on a IRS Form W-2, issued by National Vision, Inc. to you for tax year 2022.
2021 Annual Bonus. Subject to satisfaction of the Release Conditions, Nielsen IQ shall pay to Executive an amount equal to $263,014, less applicable withholdings, on the Initial Payment Date.
2021 Annual Bonus. You will receive the amount of any performance bonus for 2021, based on bonus plan targets for performance in 2021, on the same date that the bonus is paid to other executive level employees.
2021 Annual Bonus. Jxx will be provided a 10% (based on a percentage of base salary) bonus under the 2021 Annual Incentive Plan. For the avoidance of any doubt, however, Jxx shall not be eligible to participate nor receive any cash bonus (pro rata or otherwise) for 2022 under the Annual Incentive Plan or otherwise.
2021 Annual Bonus. Although Executive is not otherwise entitled to receive any Annual Bonus in respect of the 2021 fiscal year (the “2021 Annual Bonus”) unless Executive remains employed with the Company through the applicable payment date, subject to, and in consideration for, Executive’s execution of this Agreement on or before the Deadline Date (as defined below) and this Agreement becoming effective pursuant to Section 3.5 hereof, and provided Executive complies with all of the terms and conditions of this Agreement and all applicable Company policies, the Company hereby waives any requirement that Executive must remain employed through the applicable payment date (“Payment Date Requirement”) in order to receive Executive’s 2021 Annual Bonus (the “2021 Annual Bonus”) under the Company’s Annual Incentive Bonus Plan (the “Annual Bonus Plan”); provided that, (i) Executive must remain employed with the Company through the Outside Date (or if earlier, the date Executive’s employment is terminated by the Company without Cause), (ii) Company performance metrics are met such that annual bonuses in respect of the 2021 fiscal year actually become payable to other employees and (iii) such 2021 Annual Bonus is paid in accordance with the terms of the Annual Bonus Plan, except as described above with respect to the Payment Date Requirement. The 2021 Annual Bonus, to the extent earned in accordance with the immediately preceding sentence, shall be paid in a lump sum at the same time as annual cash incentive bonuses in respect of the 2021 fiscal year are paid to similarly situated employees, but in no event later than March 15, 2022.
