Common use of Annual Incentive Awards Clause in Contracts

Annual Incentive Awards. During the Term of Employment, the Executive shall be eligible for an annual target bonus ("Target Bonus") of 75% of his then-current Base Salary under the annual cash-based incentive program of the Company (or its affiliate, if applicable) payable if the performance goals thereunder for the relevant fiscal year are met. Payment of the annual bonus shall be made at the same time that other senior-level executives receive their incentive awards. The actual bonus, if any, earned by the Executive for fiscal year 2003 shall be subject to pro-ration by reason of the Executive's not having been employed by the Company for the entire fiscal year.

Appears in 3 contracts

Samples: Employment Agreement (Kmart Holding Corp), Employment Agreement (Kmart Holding Corp), Employment Agreement (Kmart Holding Corp)

AutoNDA by SimpleDocs

Annual Incentive Awards. During the Term of Employment, the Executive shall be eligible for an annual target bonus ("Target Bonus") of 7560% of his her then-current Base Salary under the annual cash-based incentive program of the Company (or its affiliate, if applicable) payable if the performance goals thereunder for the relevant fiscal year are met. Payment of the annual bonus shall be made at the same time that other senior-level executives receive their incentive awards. The actual bonus, if any, earned by the Executive for For fiscal year 2003 2003, Executive shall receive a bonus of 60% of her Base Salary, which shall not be subject to pro-ration by reason of the Executive's not having been employed by the Company for the entire fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Kmart Holding Corp)

Annual Incentive Awards. During the Term of Employment, the Executive shall be eligible for an annual target bonus ("Target Bonus") of 75% of his her then-current Base Salary under the annual cash-based incentive program of the Company (or its affiliate, if applicable) payable if the performance goals thereunder for the relevant fiscal year are met. Payment of the annual bonus shall be made at the same time that other senior-level executives receive their incentive awards. The actual bonus, if any, earned by the Executive for fiscal year 2003 shall be subject to pro-ration by reason of the Executive's not having been employed by the Company for the entire fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Kmart Holding Corp)

Annual Incentive Awards. During the Term of Employment, the Executive shall be eligible for an annual target bonus ("Target Bonus") of 75% of his then-current Base Salary under the annual cash-based incentive program of the Company (or its affiliate, if applicable) payable if the performance goals thereunder for the relevant fiscal year are met. Payment of the annual bonus shall be made at the same time that other senior-level executives receive their incentive awards. The actual bonus, if any, earned by the Executive for fiscal year 2003 2004 shall be subject to pro-ration by reason of the Executive's not having been employed by the Company for the entire fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Kmart Holding Corp)

AutoNDA by SimpleDocs

Annual Incentive Awards. During the Term of Employment, the Executive shall be eligible for an annual target bonus ("Target Bonus") of 7561% of his then-current Base Salary under the annual cash-based incentive program of the Company (or its affiliate, if applicable) payable if the performance goals thereunder for the relevant fiscal year are met. Payment of the annual bonus shall be made at the same time that other senior-level executives receive their incentive awards. The Company agrees that the actual bonus, if any, earned by the Executive for fiscal year 2003 shall not be subject to pro-ration by reason of the Executive's not having been employed by the Company for the entire fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Kmart Holding Corp)

Annual Incentive Awards. During the Term of Employment, the Executive shall be eligible for an annual target bonus ("Target Bonus") of 7560% of his then-current Base Salary under the annual cash-based incentive program of the Company (or its affiliate, if applicable) payable if the performance goals thereunder for the relevant fiscal year are met. Payment of the annual bonus shall be made at the same time that other senior-level senior executives receive their incentive awards. The actual bonus, if any, earned by the Executive for fiscal year 2003 2004 shall be subject to pro-ration by reason of the Executive's not having been employed by the Company for the entire fiscal year.

Appears in 1 contract

Samples: Employment Agreement (Kmart Holding Corp)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!