Annual Cash Incentive Payment Sample Clauses

Annual Cash Incentive Payment. Executive shall be eligible to participate in the Company’s annual executive cash incentive plan as in effect from time to time, with the opportunity to receive an annual award each fiscal year of the Company pursuant the terms and conditions of such plan and subject to the achievement of performance targets set by the Compensation Committee of the Board (“Annual Cash Bonus”). Such Annual Cash Bonus shall be paid in no event later than the 15th day of the third month following the end of the Company’s taxable year to which the Annual Cash Bonus relates.
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Annual Cash Incentive Payment. The Bank shall pay to Jonex xxxformance-based cash incentive compensation ("Bonus") in an amount determined by the Board at the time of the Annual Review, and payable as soon as practicable thereafter. Subject to such adjustment as may be deemed appropriate by the Board, Bonus to be payable in 1999 to Jonex xxx performance during 1998 shall be calculated as a percentage of Jonex' 0098 salary, such percentage to be based on the net income of the Bank for the 1998 fiscal year, as reported on the audited income statement of the Bank, as follows (with Bonus percentage not to exceed 45% and to be interpolated for net income amounts not specified): If net income is the Bonus percentage shall be ---------------- ----------------------------- less than $1.887 million zero $1.887 million 30% $2.056 million 35% $2.225 million 40% $2.395 million or more 45% The Board shall determine performance goals and criteria as part of each Annual Review and communicate same to Jonex. Xonex xxx the Bank acknowledge that the Bank is developing an Executive Incentive Compensation plan intended to apply to certain officers of the Bank generally, as well as to the President and CEO of the Bank. It is intended that such plan will govern Bonus compensation payable to Jonex xxx performance in 1999 and subsequent years, and that performance goals and criteria for the President and CEO (in addition to the net income performance goals set forth herein for 1998) are intended to be established by the Board, it being the intent of the Board that in general, 1999 and subsequent year performance goals and criteria for the President and CEO will be established so as to provide Bonus compensation at least comparable to that specified above for 1998 for overall comparable performance.
Sample 1
Annual Cash Incentive Payment. Executive shall be eligible to participate in the annual bonus program for executive officers of DEFS Assets. The target under such bonus shall be 60% of base salary. Such bonus shall be determined under the provisions of the incentive plan established by the Compensation Committee of the Board of Directors.
Sample 1

Related to Annual Cash Incentive Payment

  • Annual Cash Incentive Executive shall be eligible to participate in the Company’s management cash incentive plan and any successor annual cash plans. Executive shall have the opportunity to earn an annual target cash incentive, measured against performance criteria to be determined by the Company’s Board (or a committee thereof) having a target value of not less than 70% of Base Salary.

  • 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.

  • Incentive Payment During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Cash Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

  • Incentive Payments (i) Amount in the Event of a Termination Pursuant to Sections 7(a) or 7(c). In the event of a termination pursuant to Sections 7(a) or 7(c) of this Agreement, Employee shall be offered the opportunity to receive Incentive Payments in a total amount equal to 0.500 times the sum of Employee’s most recent annual base salary and target bonus, payable in equal installments on the same pay schedule in effect at the time of termination over a period of twelve (12) months from the date of termination.

  • Incentive Pay If the Termination Date is any day other than the last day of the plan year under the CIP, the Company shall pay to Executive an amount equal to a prorated portion of the award that would have been payable to Executive under the CIP for such plan year based on actual performance towards objectives, prorated based on the number of days of the plan year occurring through the Termination Date divided by 365. Any individual performance objectives applicable to Executive for the fiscal year shall be deemed to have been met at a level resulting in payout of 50% of the award amount allocated to such individual objectives. The payment shall be paid to Executive at the same time and in the same manner as CIP awards are paid to other executives of the Company pursuant to the CIP, but not later than 2 1/2 months following the end of the fiscal year in which the Termination Date occurs, provided that Executive has satisfied the conditions set forth in Section 12. Any separation pay that may become payable pursuant to this Section 10(c) is intended to be a short-term deferral not subject to the requirements of Section 409A of the Code.

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

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