Common use of Annual Incentive Awards Clause in Contracts

Annual Incentive Awards. The Executive will be eligible for discretionary annual incentive compensation awards; provided, that the Executive will be eligible to receive an annual bonus opportunity in respect of each fiscal year of JTAX during the Period of Employment based upon a target bonus equal to no less than 60% of his earned Base Salary during such fiscal year; provided, however, that such bonus will be subject to the attainment by JTAX of applicable performance targets reasonably established and certified by the Board or the Compensation Committee of the Board (the “Committee”). The parties acknowledge that it is currently contemplated that such performance targets will be stated in terms of “earnings before interest and taxes” of JTAX, however such targets may relate to such other financial and/or business criteria of JTAX, or any of their respective subsidiaries or business units, as determined by the Board and/or the Committee in its sole discretion (each such annual bonus, an “Incentive Compensation Award”).

Appears in 2 contracts

Samples: Employment Agreement (Jackson Hewitt Tax Service Inc), Employment Agreement (Jackson Hewitt Tax Service Inc)

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Annual Incentive Awards. The Executive will be eligible for discretionary annual incentive compensation awards; provided, that the Executive will be eligible to receive an annual bonus opportunity in respect of each fiscal year of JTAX WEX during the Period of Employment based upon a target bonus equal to no less than 60100% of his earned Base Salary during such fiscal year; provided, however, that such bonus will be subject to the attainment by JTAX WEX of applicable performance targets reasonably established and certified by the Board or the Compensation Committee of the Board (the “Committee”). The parties acknowledge that it is currently contemplated that such performance targets will be stated in terms of “earnings before interest and taxes” of JTAXWEX, however such targets may relate to such other financial and/or business criteria of JTAXWEX, or any of their respective subsidiaries or business units, as determined by the Board and/or the Committee in its sole discretion (each such annual bonus, an “Incentive Compensation Award”).

Appears in 2 contracts

Samples: Employment Agreement (Wright Express CORP), Employment Agreement (Wright Express CORP)

Annual Incentive Awards. The Executive will be eligible for discretionary annual incentive compensation awards; provided, that the Executive will be eligible to receive an annual bonus opportunity in respect of each fiscal year of JTAX WEX during the Period of Employment based upon a target bonus equal to no less than 6050% of his her earned Base Salary during such fiscal year; provided, however, that such bonus will be subject to the attainment by JTAX WEX of applicable performance targets reasonably established and certified by the Board or the Compensation Committee of the Board (the “Committee”). The parties acknowledge that it is currently contemplated that such performance targets will be stated in terms of “earnings before interest and taxes” of JTAXWEX, however such targets may relate to such other financial and/or business criteria of JTAXWEX, or any of their respective subsidiaries or business units, as determined by the Board and/or the Committee in its sole discretion (each such annual bonus, an “Incentive Compensation Award”).

Appears in 2 contracts

Samples: Employment Agreement (Wright Express CORP), Employment Agreement (Wright Express CORP)

Annual Incentive Awards. The Executive will be eligible for discretionary annual incentive compensation awards; provided, that the Executive will be eligible to receive an annual bonus opportunity in respect of each fiscal year of JTAX during the Period of Employment based upon a target bonus equal to no less than 60100% of his earned Base Salary during such fiscal year; provided, however, that such bonus will be subject to the attainment by JTAX of applicable performance targets reasonably established and certified by the Board or the Compensation Committee of the Board (the “Committee”). The parties acknowledge that it is currently contemplated that such performance targets will be stated in terms of “earnings before interest and taxes” of JTAX, however such targets may relate to such other financial and/or business criteria of JTAX, or any of their respective subsidiaries or business units, as determined by the Board and/or the Committee in its sole discretion (each such annual bonus, an “Incentive Compensation Award”).

Appears in 2 contracts

Samples: Employment Agreement (Jackson Hewitt Tax Service Inc), Employment Agreement (Jackson Hewitt Tax Service Inc)

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Annual Incentive Awards. The Executive will be eligible for discretionary annual incentive compensation awards; provided, that the Executive will be eligible to receive an annual bonus opportunity in respect of each fiscal year of JTAX PHH during the Period of Employment based upon a target bonus equal to no less than 60100% of his earned Base Salary during such fiscal year; provided, however, that such bonus will be subject to the attainment by JTAX PHH of applicable performance targets reasonably established and certified by the Board or the Compensation Committee of the Board (the “Committee”). The parties acknowledge that it is currently contemplated that such performance targets will be stated in terms of “earnings before interest and taxes” of JTAXPHH, however such targets may relate to such other financial and/or business criteria of JTAXPHH, or any of their respective subsidiaries or business units, as determined by the Board and/or the Committee in its sole discretion (each such annual bonus, an “Incentive Compensation Award”).

Appears in 1 contract

Samples: Employment Agreement (PHH Corp)

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