Annual Bonus and Annual Grant Sample Clauses

Annual Bonus and Annual Grant. Employee will be eligible for an annual cash bonus each calendar year (the “Annual Bonus”) with a target payout of 75% of Base Salary, and an annual equity bonus with a maximum value on the grant date (determined in accordance with the Black-Scholes valuation model or other customary equity valuation models) of up to Two Million Four Hundred Twenty Five Thousand ($2,425,000) Dollars (the “Annual Grant”). Before the last day of February of each calendar year, Employee and the Compensation Committee of the Board (the “Compensation Committee”) shall, in good faith, set objective performance metrics (the “Performance Metrics”) against which the Compensation Committee will evaluate Employee’s performance in determining the amount, if any, of the Annual Bonus and Annual Grant. The exact amount of Employee’s Annual Bonus and the exact value of the Annual Grant and type of Equity Award that comprises the Annual Grant shall be determined by the Compensation Committee in its sole discretion, provided, however, that the Compensation Committee will base 75 percent of the Annual Bonus and Annual Grant on the Performance Metrics, and it will base 25 percent on Employee’s subjective performance as determined by the Compensation Committee. Employee’s Annual Bonus will be paid and certificates or other evidence of the Equity Award delivered annually, no later than four months after the end of the calendar year. Except as provided in paragraph 3 of this Agreement, Employee must be employed by the Company on the date bonuses are paid to Company employees in order to be entitled to receive a bonus. Employee shall remain eligible to receive the prorata annual bonus provided for in the Interim Employment Agreement for the period of September 20, 2007 through December 10, 2007 in accordance with its terms.
Sample 1
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Annual Bonus and Annual Grant. Employee shall be awarded a cash bonus of $374,400 and an equity bonus of 106,508 LTIP units, which cash and equity awards are attributable to calendar year 2009. In the sole discretion of the Compensation Committee of the Board (the “Compensation Committee”), Employee may be awarded a bonus for his work as CEO during calendar year 2010, in an amount, if any, and of a type determined by the Compensation Committee in its sole discretion, which award, if any, will be pro-rated based on the amount of time Employee acted as the Company’s CEO during 2010. 4. The Agreement is further amended by deleting the phrase “and paragraph 3.g. of this Agreement” in the penultimate sentence of Section 2(h) (Equity Agreements). 5. The Agreement is further amended by deleting Section 3 in its entirety and replacing it with the following:
Sample 1

Related to Annual Bonus and Annual Grant

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

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