Annual Cash Incentive Awards. The Executive shall be eligible to participate in the annual cash incentive bonus plan adopted by the Compensation Committee for the Company each fiscal year during the Term of this Agreement (the "Bonus Plan"), subject to the terms and conditions of the Bonus Plan. If the Executive or the Company, as the case may be, satisfies the performance criteria contained in such Bonus Plan for a fiscal year, he shall receive an annual cash incentive bonus (the "Incentive Bonus") in an amount determined by the Compensation Committee and subject to ratification by the Parent Board, if required, but not to exceed 100% of the Executive's then current Base Salary. If the Executive or the Company, as the case may be, fails to satisfy the performance criteria contained in such Bonus Plan for a fiscal year, the Compensation Committee may determine whether any Incentive Bonus shall be payable to Executive for that year, subject to ratification by the Parent Board, if required. Beginning January 1, 2005, the Bonus Plan shall contain both individual and group goals established by the Compensation Committee. The annual Incentive Bonus shall be paid to the Executive no later than thirty (30) days after the date the Compensation Committee determines whether the criteria in the Bonus Plan for such fiscal year were satisfied. For purposes of this Agreement, the term "Incentive Bonus" shall mean the amount established pursuant to this Section 5(b).
Annual Cash Incentive Awards. As of the Effective Time, Newco Group Employees shall cease participating in each Vornado annual bonus plan or policy (“Vornado Annual Bonus Plans”). As of the Effective Time, (i) Newco shall establish annual bonus plans or policies (“Newco Annual Bonus Plans”) and (ii) Newco Group Employees who were eligible to participate in the Vornado Bonus Plans shall be eligible to participate in the Newco Bonus Plans. Newco shall be solely responsible for funding, paying and discharging all obligations under the Newco Annual Bonus Plans and Vornado shall have no Liability with respect to annual bonuses to be paid to Newco group employees with respect to the calendar year in which the Effective Time occurs. Vornado shall remain solely responsible for funding and discharging all obligations under the Vornado Annual Bonus Plans with respect to annual bonuses to be paid to Newco group employees with respect to performance periods ending on or prior to the Effective Time.
Annual Cash Incentive Awards. The Executive shall be eligible to participate in the Company's annual cash incentive bonus plan adopted by the Compensation Committee for each fiscal year during the Term of this Agreement ("Bonus Plan"), subject to the terms and conditions of the Bonus Plan. If the Executive or the Company, as the case may be, satisfies the performance criteria contained in such Bonus Plan for a fiscal year, he shall receive an annual Incentive Bonus (as defined below) in an amount determined by the Compensation Committee and subject to ratification by the Board, if required. If the Executive or the Company, as the case may be, fails to satisfy the performance criteria contained in such Bonus Plan for a fiscal year, the Compensation Committee may determine whether any Incentive Bonus shall be payable to Executive for that year, subject to ratification by the Board, if required. Beginning January 1, 2005, the Bonus Plan shall contain both individual and group goals established by the Compensation Committee. The annual Incentive Bonus shall be paid to the Executive no later than thirty (30) days after the date the Compensation Committee determines whether the criteria in the Bonus Plan for such fiscal year were satisfied. For purposes of this Agreement, the term "Incentive Bonus" shall mean the amount established pursuant to this Section 6(b).
Annual Cash Incentive Awards. Executive shall be eligible to bonus payments at levels at least commensurate with bonuses paid to the Senior Executives, if any, as determined from time to time by the Board in its sole and absolute discretion (the “Annual Bonus”). Executive’s Annual Bonus will be paid in form and at the same time as bonuses are generally paid to the Senior Executives. For purposes of this Agreement, the term “Senior Executive” shall mean the five highest compensated employees of the Company determined in accordance with applicable SEC rules and regulations. Provided, however, upon the closing of a Qualified Transaction, the Company shall pay Executive a bonus.
Annual Cash Incentive Awards. The Executive shall be eligible to participate in the Company’s annual cash incentive bonus plan adopted by the Compensation Committee for each fiscal year during the Term of this Agreement (“Bonus Plan”), subject to the terms and conditions of the Bonus Plan. If the Executive or the Company, as the case may be, satisfies the performance criteria contained in such Bonus Plan for a fiscal year, he shall receive an annual cash incentive bonus (the “Incentive Bonus”) in an amount determined by the Compensation Committee, with a target Incentive Bonus of two hundred percent (200%) of Executive’s Base Salary for such fiscal year and subject to ratification by the Board, if required. If the Executive or the Company, as the case may be, fails to satisfy the performance criteria contained in such Bonus Plan for a fiscal year, the Compensation Committee may determine whether any Incentive Bonus shall be payable to Executive for that year, subject to ratification by the Board, if required. Beginning January 1, 2005, the Bonus Plan shall contain both individual and group goals established by the Compensation Committee. The annual Incentive Bonus shall be paid to the Executive no later than thirty (30) days after the date the Compensation Committee determines
Annual Cash Incentive Awards. Immediately prior to the Effective Time, WPG Group Employees shall cease participating in each SPG annual bonus plan or policy (“SPG Annual Bonus Plans”) and, as of the Effective Time, there shall be an accrual on the financial statements of WPG equal to the amount accrued by SPG on its financial statements for the portion of the calendar year ending immediately prior to the Effective Time for WPG Group Employees under such plans as appropriate based on the results achieved to date and the forecasted achievement of applicable annual targets. As of the Effective Time, (i) WPG shall establish annual bonus plans or policies (“WPG Annual Bonus Plans”) substantially similar to the SPG Bonus Plans in effect immediately prior to the Effective Time which shall provide annual incentive bonuses for the entire calendar year in which occurs the Effective Time and (ii) WPG Group Employees who were eligible to participate in the SPG Bonus Plans shall be eligible to participate in the WPG Bonus Plans. WPG shall be solely responsible for funding, paying and discharging all obligations under the WPG Annual Bonus Plans and SPG shall have no liability with respect to annual bonuses to be paid to WPG group employees with respect to the calendar year in which occurs the Effective Time.
Annual Cash Incentive Awards. As of July 1, 2009, CareFusion Group Employees ceased participating in the Cardinal Health Management Incentive Plan and any other Cardinal Health annual bonus plan or policy (“Cardinal Health Annual Bonus Plans”). Cardinal Health shall retain responsibility under the Cardinal Health Annual Bonus Plans to (i) fund all obligations relating to any unpaid annual cash incentive awards that any CareFusion Group Employee is eligible to receive with respect to the period ending on June 30, 2009 and (ii) as soon as administratively feasible following determination of the aggregate bonus amounts for such year, make a lump sum payment to CareFusion equal to the aggregate bonus amounts allocated to the eligible CareFusion Group Employees, and CareFusion shall as soon as practicable following the receipt of such lump sum payment (x) allocate such aggregate bonus amounts among the eligible CareFusion Group Employees and (y) pay each eligible CareFusion Group Employee his or her bonus amount. As of July 1, 2009, CareFusion has established annual bonus plans or policies (“CareFusion Annual Bonus Plans”) to provide annual incentive bonuses for periods beginning on or after July 1, 2009. CareFusion shall be solely responsible for funding, paying and discharging all obligations relating to any annual cash incentive awards that any CareFusion Group Employee is eligible to receive under the CareFusion Annual Bonus Plans with respect to periods beginning on or after July 1, 2009 and Cardinal Health shall have no obligations with respect thereto.
Annual Cash Incentive Awards. As of January 1, 2015, UE Group Employees shall cease participating in each VNO annual bonus plan or policy (“VNO Annual Bonus Plans”). As of January 1, 2015, (i) UE shall establish annual bonus plans or policies (“UE Annual Bonus Plans”) and (ii) UE Group Employees who were eligible to participate in the VNO Bonus Plans shall be eligible to participate in the UE Bonus Plans. UE shall be solely responsible for funding, paying and discharging all obligations under the UE Annual Bonus Plans and VNO shall have no liability with respect to annual bonuses to be paid to UE group employees with respect to the calendar year in which the Effective Time occurs. Vornado shall remain solely responsible for funding and discharging all obligations under the VNO Annual Bonus Plans with respect to annual bonuses to be paid to UE group employees with respect to the 2014 calendar year.
Annual Cash Incentive Awards. The Executive shall be eligible to participate in the Company's annual cash incentive bonus plan adopted by the Compensation Committee for each fiscal year during the Term of this Agreement ("Bonus Plan"), subject to the terms and
Annual Cash Incentive Awards. During each year of the CEO Term, Executive shall be eligible to receive an annual cash bonus (the “Annual Bonus”), with a target opportunity of not less than fifty percent (50%) of the Base Salary (the “Target Annual Bonus”), subject to review annually for increase (but not decrease), with the first such adjustment (if determined to be appropriate) to occur based on the Peer Review Process on the timing contemplated pursuant to Section 3(g) of this Agreement; provided, however, that Executive shall incur a one-time decrease in or elimination of the Target Annual Bonus effective as of the Succession Date, in connection with his retirement from the position of Chief Executive Officer. During the Chairman Term, Executive shall not be eligible for an Annual Bonus unless otherwise determined by the Board, based on the Peer Review Process. Executive’s Annual Bonus for calendar year 2021 shall be prorated based on the number of days elapsed in the year as of the Succession Date to account for the number of days in the year he serves as Chief Executive Officer. Nothing contained in this Section 3(c) shall obligate the Company to institute, maintain or refrain from changing, amending or discontinuing any incentive bonus plan, so long as such changes are similarly applicable to other senior executive employees under such plan.
