Additional Annual Bonus Sample Clauses
The Additional Annual Bonus clause establishes the terms under which an employee may receive a bonus payment beyond their regular compensation. Typically, this clause outlines the criteria for eligibility, such as meeting specific performance targets or the company's financial results, and may specify the timing and method of bonus calculation and payment. Its core practical function is to incentivize employees by providing a clear framework for awarding extra compensation, thereby aligning employee performance with organizational goals and offering motivation for exceptional work.
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Additional Annual Bonus. If, and to the extent, in any year the Company is prohibited from directly providing the Executive Insurance Benefits to the Executive without the Company or the Executive being subject to excise taxes as a result of nondiscrimination rules or change of control rules, or being subject to other taxes or costs that such party would not be subject to if the Executive was then a non-highly compensated employee, as described in the Internal Revenue Code of 1986, as amended (the “Code”), of the Company, or the Company’s contributions under the Company’s Insurance Benefits are less than the contributions that would occur under the Executive Insurance Benefits, the Company shall pay the Executive an additional cash bonus (the “Additional Bonus”) equal to (1) the dollar amount of the Executive Insurance Benefits that are not provided to the Executive pursuant to Section 4(c) below in a given year (such dollar value, the “Excess Value”), plus (2) any Federal, state or local income, excise or similar taxes or imposts, (“Taxes”) payable on the Excess Value. Any such Additional Bonus earned by Executive shall be paid no later than March 1st of the year following the year to which such Excess Value relates.
Additional Annual Bonus. The Additional Annual Bonus (AAB) that will be computed each year as is established in the following clause of this CONTRACT.
Additional Annual Bonus. An annual bonus for the year ending December 31, 1997 and subsequent years in an amount determined by the Compensation Committee of the Board of Directors of the Parent Company, in its sole and absolute discretion, of 5%, or such lesser percentage as such Compensation Committee shall determine, of the increase in annual Net EBITDA, reduced by all bonus compensation paid to employees of the Company and Insignia/ESG (including Insignia Capital Advisors, Inc. and the Company's other subsidiaries) (including the imputed bonus of the Executive as determined under this Agreement ), all Company and Insignia/ESG overhead allocations and all compensation paid to the Executive pursuant to this Agreement, over the annual Net EBITDA for the immediately preceding year. Such bonus shall be paid to the Executive within one-hundred twenty (120) days after the end of the Parent Company's fiscal year. For purposes of this Agreement, Net EBITDA shall mean the earnings before interest, taxes, depreciation, and amortization of the Company and Insignia/ESG net of the debt of the Parent Company at the Parent Company's cost of such debt plus fifteen (15%) percent of the cost of such debt to the Parent Company computed in accordance with generally accepted accounting principles, consistently applied.
Additional Annual Bonus. In addition to the Incentive Bonus, the Employee is entitled to receive from the Employer, for each of the fiscal years of the Employer ended after the date hereof, an additional annual bonus (the “Additional Bonus”) in an amount equal to (i) $30,000 minus (ii) the amount of all contributions made by the Employer to the Employer’s Profit Sharing Plan for the account of the Employee during such fiscal year. The Additional Bonus for each fiscal year shall be paid within 30 days after the completion of the Employer’s audited financial statements for such fiscal year.