Annual Bonus Incentive. Executive shall be eligible for an annual bonus incentive (the “Annual Bonus Incentive” or “Bonus”) as determined by the Compensation Committee of the Board, from time to time, in accordance with Employer’s incentive compensation plan then in effect for each calendar year or portion thereof during the Employment Period, provided that Executive remains employed by Employer during such period. Any Bonus earned by Executive for any calendar year shall be paid in the manner set forth by the Compensation Committee of the Board, provided such payment shall be made no later than sixty-five (65) days following the conclusion of the calendar year to which such Bonus relates. Payment of the Bonus for each calendar year shall in all circumstances be contingent upon a certification of the Board that the determination, calculation and payment of the Bonus is correct. The criteria for determining the Annual Incentive Bonus shall be reviewed on an annual basis by the Compensation Committee of the Board and adjusted at the discretion of the Compensation Committee of the Board; provided, however, in no event shall the criteria for determining the Annual Incentive Bonus be less favorable than the criteria utilized for any other senior executive officer of the Company without the approval of at least a two-thirds majority of the Board.
Annual Bonus Incentive. Subject to Section 2.1(b)(ii), Section 2.1(b)(iii) and Section 2.1(b)(iv), Employee shall be eligible to participate in such annual bonus program for Employee’s position as may be implemented from time to time by the Company in its sole discretion. Any annual incentive bonus amounts will be paid in accordance with regular payroll practices annually for such amounts, provided that Employee is employed by the Company on the applicable bonus payment date. (For example, fiscal 2008 annual bonuses were paid in October 2008.) Except as provided in Section 2.1(b)(iii), Employee is not eligible for any guaranteed bonus under this Agreement or otherwise and the terms of any bonus plan applicable to Employee may be modified or eliminated by the Company in its sole discretion.
Annual Bonus Incentive. In addition to Base Salary, Executive shall be eligible for an annual bonus incentive (the “Annual Bonus Incentive” or “Bonus”) as determined in accordance with Exhibit A for each calendar year or portion thereof during the Term, provided that Executive remains employed by Employer during such period. Any Bonus earned by Executive pursuant to Exhibit A shall be paid in the manner provided in Exhibit A, provided such payment (other than Deferral Amount(s)) shall be made no later than two and one-half months after the end of the period to which such Bonus relates or ten days after the earnings for the calendar year are announced, whichever occurs first. Payment of the Bonus for each year shall in all circumstances be contingent upon a certification of the Board that the determination, calculation and payment of the Bonus is correct.
Annual Bonus Incentive. For each year of employment during the Term, the Executive shall be eligible for an annual bonus incentive with a target bonus award of $575,000.00 (at 100%), and a potential maximum award based on exceeding achievements of $1,150,000.00 (at 200%). The Executive's annual bonus incentive shall include the following components, terms and conditions:
(a) Objectives (including all performance thresholds, targets and maximum goals) will be set annually by the Human Resources and Compensation Committee (or as may otherwise be delegated by the Board).
(b) The level of achievement of all objectives will be evaluated by the Human Resources and Compensation Committee (or as may otherwise be delegated by the Board) as soon as possible following each fiscal year.
(c) Subject to Sections 6.3 and 6.4 below, bonuses, if any, shall be earned only upon completion of the relevant fiscal year of the Corporation and shall be payable after completion of the Corporation's audited financial statements for such fiscal year.
Annual Bonus Incentive. Executive will be eligible to participate in an incentive bonus pool based on the annual net profit achieved each year, as detailed below: Annual Net Income = or > to Bonus paid to Executive (as a % of annual salary) Eligibility for the annual bonus incentive requires the annual net worth of PSMI be at least equal to the adjusted net worth as required by HUD from time to time. Any bonus earned per above will be reduced to an amount of payment that would not place the Company’s net worth below the minimum adjusted requirement. Additionally, no such bonus shall be paid while the Company’s obligations to Quintium Private Opportunities Fund, L.P., Xxxxx Xxxxxx and Xxxxxxx Xxxxxxxxxx remain due and payable.
Annual Bonus Incentive. Permanent employees with a minimum period of service of six
Annual Bonus Incentive. During the employment period, Executive shall be eligible to receive incentive compensation as determined by the Board from time to time in its sole discretion. The Executive’s expected performance range cash incentive award is between 60% and 120% of Executives Base Salary. The actual amount of Executive’s bonus, if any, shall be determined in the sole discretion of the Board, subject to the terms of any applicable incentive compensation plan that may be in effect from time to time. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid, which normally occurs during September of each fiscal year. It is recorded that a cash incentive award for fiscal 2023 was agreed in October 2022 and the terms of that award are unchanged by this agreement.
Annual Bonus Incentive. During the employment period, Executive shall be eligible to receive incentive compensation as determined by the Board from time to time in its sole discretion. Executive's target annual incentive compensation shall be 60% (60 percent) of his annual aggregate base salary (which shall include his Base Salary in this Agreement plus his base salary in his SA Employment Contract) (the "Aggregate Base") to a maximum of 120% of his Aggregate Base, if stretch performance goals are met. The actual amount of Executive's bonus, if any, shall be determined in the sole discretion of the Board, subject to the terms of any applicable incentive compensation plan that may be in effect from time to time. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid, which normally occurs during September of each fiscal year. For the 2021 fiscal year, the Executive's bonus, to the extent earned, will be prorated based on the number of days employed during the fiscal year.
