Annual Cash Incentives. The Labcorp Group maintains the Laboratory Corporation of America Holdings Bonus Plan for eligible employees of the Labcorp Group (such plan, the “Labcorp Bonus Plan”). Effective no later than the Distribution Date, the Fortrea Group will establish an annual incentive plan for eligible employees of the Fortrea Group (such plan, the “Fortrea Bonus Plan”). For calendar year 2023, the Labcorp Group will be solely responsible for obligations under the Labcorp Bonus Plan to Labcorp Employees and will have no liability for obligations under the Labcorp Bonus Plan to Fortrea Employees. For calendar year 2023, Fortrea shall assume under the Fortrea Bonus Plan the obligation to make bonus payments in respect of calendar year 2023 to Fortrea Employees who had been participants in the Labcorp Bonus Plan as of the Distribution Date, or the Applicable Transfer Date. For periods following 2023, the Labcorp Group will be responsible for any payments owed under the Labcorp Bonus Plan and the Fortrea Group will be responsible for any payments owed under the Fortrea Bonus Plan for performance periods beginning after the Distribution Date or Applicable Transfer Date, as applicable.
Annual Cash Incentives. The ConAgra Group maintains annual incentive plans for eligible employees of the ConAgra Group (such plans, the “ConAgra Annual Incentive Plans”), and the LW Group maintains annual incentive plans for eligible employees of the LW Group (such plans, the “LW Annual Incentive Plans”). The ConAgra Group will be responsible for any payments owed under the ConAgra Annual Incentive Plans and the LW Group will be responsible for any payments owed under the LW Annual Incentive Plans, provided that, except as set forth on Schedule 5.3, if any LW Employees or Former LW Business Employees are owed amounts under the ConAgra Annual Incentive Plan for fiscal year 2017, the LW Group will pay and be responsible for such payments and if any ConAgra Employees or Former ConAgra Employees are owed amounts under the LW Annual Incentive Plans for fiscal year 2017, the ConAgra Group will pay and be responsible for such payments.
Annual Cash Incentives. Annual cash incentive compensation earned or accrued by any Business Employee or Former Business Employee in respect of any fiscal year, and unpaid as of the Closing Date, shall be paid by Buyer or an Acquired Company, as applicable, pursuant and subject to the terms and conditions of the applicable cash incentive compensation plan or policy in effect in respect of such year and in the ordinary course of business consistent with past practice (the “Assumed Bonus Liabilities”).
Annual Cash Incentives. With respect to each full fiscal year during the Term, Executive shall be eligible to earn an annual performance bonus (the “Annual Bonus”) with a target bonus opportunity of up to one hundred percent (100%) of Executive’s Base Salary (the “Target Bonus”) under the Company’s Annual Executive Incentive Plan (the “AIP”) or any successor thereto. The actual amount earned, if any, may be more or less than the Target Bonus, depending on the level of attainment of applicable goals. Any bonuses awarded under the AIP shall be payable at the time and in the manner specified in the AIP. Executive’s Annual Bonus for the fiscal year ending on December 31, 2013 shall not be subject to pro-ration and shall be determined as if Executive’s Commencement Date were January 1, 2013.
Annual Cash Incentives. During the Employment Term, Executive shall be entitled to participate in the 1997 Annual Cash Incentive Plan of MiliRisk, Inc. (f/k/a Millers Integrated Claims Resources, Inc.) ("MiliRisk"), a copy of which has been provided to Executive.
Annual Cash Incentives. Executive shall be eligible to earn a bonus for each of the fiscal years 2021, 2022, and 2023 in an amount to be determined pursuant to the annual bonus program approved by the Committee and then in effect (the “Annual Bonus”). Executive’s target Annual Bonus amount shall be not less than 100% of Executive’s Base Salary, but the actual amount earned and paid pursuant to Executive’s Annual Bonus any year may be an amount less than, greater than, or the same as the target amount. In addition, Executive shall be eligible to earn a special bonus for fiscal years 2021 and 2022 (the “Special Annual Bonus”). The Special Annual Bonus will be tied to the Executive’s performance and results in meeting objectives for improvements in operations in a Covid-19 recovery environment in both North America and in Europe as well as meeting objectives set out in the Succession Process herein. Executive’s target Special Annual Bonus shall be not less 105% of Executive’s Base Salary with a minimum payout of 75% and a maximum payout of 200% The CEO or Executive Chair shall make recommendations for Special Annual Bonus payouts for approval by the Committee. Any Annual Bonus and any Special Annual Bonus shall be paid to Executive in cash (subject to normal withholding and payroll deductions) within 120 days following the end of the fiscal year in which such Annual Bonus shall be earned and in any event within the short-term deferral period specified in Treasury. Reg. S1,409(b)(4) (i.e., later of the 15th day of the third month following the end of the calendar year or the 15th day of the third month following the end of the Company’s taxable year).
Annual Cash Incentives. (a) Annual cash incentive compensation earned or accrued by a Spinco Employee or Former Spinco Business Employee for the fiscal year preceding the fiscal year in which the Spinco Distribution occurs and remains unpaid as of immediately prior to the Spinco Distribution pursuant to the cash incentive compensation plan or program shall be a Liability Assumed and paid by Remainco prior to the Spinco Distribution Date.
(b) Annual cash incentive compensation earned or accrued by any Spinco Employee or Former Spinco Business Employee for the fiscal year in which the Spinco Distribution occurs shall be paid by Spinco or a member of the Spinco Group, as applicable, pursuant and subject to the terms and conditions of the applicable Spinco cash incentive compensation plan or policy in effect in respect of such year and in the ordinary course of business consistent with past practice. The foregoing notwithstanding, RMT Partner, subject to the requirements of Section 1.03, in consultation with Spinco, acting reasonably and in good faith, may adjust any of the performance metrics or goals applicable to such annual cash incentive opportunity as it deems necessary or appropriate to take into account the transactions contemplated by the Transaction Agreements.
Annual Cash Incentives. In connection with our IPO, we adopted, and our shareholders approved, The Container Store, Inc. Senior Executive Incentive Bonus Plan (the ‘‘Executive Bonus Plan’’), in which all named executive officers other than Xx. Xxxxxx participated. The Executive Bonus Plan is designed to provide an incentive for superior work and to motivate covered key executives toward even greater achievement and business results, to tie their goals and interests to those of us and our shareholders and to enable us to attract and retain highly qualified executives. The Executive Bonus Plan is an incentive bonus plan under which covered key executives may be eligible to receive bonus payments with respect to a specified period (for example, our fiscal year). Bonuses will generally be payable under the Executive Bonus Plan upon the attainment of pre-established performance goals. Notwithstanding the foregoing, we may pay bonuses (including, without limitation, bonuses based on non-pre-established performance goals and discretionary bonuses) to participants under the Executive Bonus Plan based upon such other terms and conditions as the culture and compensation committee may in its discretion determine (including under a sub-plan of the Executive Bonus Plan). In fiscal 2014, all named executive officers other than Xx. Xxxxxx were eligible to receive annual cash bonuses based on percentages of base salary under a subplan of the Executive Bonus Plan. The bonuses were determined using a performance grid based on our Adjusted EBITDA, comparable store sales growth and adjusted earnings per share (Adjusted EPS). Adjusted EBITDA and Adjusted EPS for purposes of our 2014 annual bonus plan are non-GAAP measures and a presentation of the most directly comparable financial measures calculated and presented in accordance with Generally Accepted Accounting Principles (‘‘GAAP’’) and a reconciliation of the differences between such measures and the most comparable financial measure or measures calculated and presented in accordance with GAAP are set forth on pages 37 and 39, respectively, of the Company’s Annual Report on Form 10-K for the fiscal year ended February 28, 2015. For fiscal 2014, the minimum bonus level was set at 0% of annual base pay for all the named executives other than Xx. Xxxxxx, and the maximum level was set at 276.9% of annual base pay for Xx. Xxxxxxx and 240% of annual base pay for Xx. Xxxxxxx and Xx. Xxxxx. The target level was established at 153.8% of annual base pay for...
Annual Cash Incentives. At the Effective Time, except as set forth below with respect to partners and non-U.S. based employees (and subject to BX’s payment obligations to PJT HoldCo as set forth below), PJT HoldCo shall, or shall cause one or more members of the PJT Group to, assume responsibility for making payments to PJT Personnel in respect of their annual incentive arrangements (“Bonus Arrangements”). BX and PJT HoldCo shall satisfy their respective obligations with respect to the Bonus Arrangements as follows:
Annual Cash Incentives. At the Effective Time, PJT HoldCo shall, or shall cause one or more members of the PJT Group to, assume all liabilities for annual incentive arrangements (“Bonus Arrangements”) with respect to PJT Personnel. PJT HoldCo, or one or more members of the PJT Group, shall pay the Bonus Arrangements in respect of 2015 to PJT Personnel who are employees (and not partners) no later than such time as Bonus Arrangements are typically paid by the PJT Group to PJT Personnel in the ordinary course of business, provided that with respect to payments under the Park Hill Bonus Plan, such payment date will be no later than 75 calendar days following the Effective Date (in either case, the “PJT Bonus Payment Date”). On the day immediately preceding the PJT Bonus Payment Date, BX shall, or shall cause one or more members of the Blackstone Group to, pay PJT HoldCo (in the case of Bonus Arrangements covering employees) or to the PJT Personnel (in the case of Bonus Arrangements covering partners) an amount equal to the cash portion of any Bonus Arrangements accrued to such PJT Personnel as of the Effective Date (the “Accrued Bonuses”). Subject to BX’s consent (such consent not to be unreasonably withheld), in the event that due to subsequent developments or events occurring following the Effective Time, including, without limitation, an increase in the levels of compensation in the investment banking industry, there is a material increase in bonuses actually paid to such PJT Personnel above the levels anticipated by the Accrued Bonuses, BX shall be obligated to pay to PJT HoldCo its pro rata portion of such incremental increase based on the portion of the calendar year prior to the Effective Time. On the Effective Date, with respect to any portion of the Accrued Bonuses which is deferred compensation or would have been denominated in Blackstone Common Units or Blackstone Holdings Units pursuant to the terms of the Blackstone Bonus Deferral Plan (the “Non-Cash Portion”), BX shall, or shall cause one or more members of the Blackstone Group to, pay to PJT Holdco or such member of the PJT Group as PJT HoldCo designates an amount in cash equal to the Non-Cash Portion of the Accrued Bonuses. Payment of Bonus Arrangements in respect of 2015 shall be made in accordance with the terms set forth on Schedule 8.7.
