Annual Incentive Bonus. The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.
Annual Incentive Bonus. In addition to the foregoing, Executive shall be eligible for participation in the Annual Incentive Compensation Plan or similar bonus arrangement maintained by the Company or an Affiliate or such other bonus or incentive plans which the Company or its Affiliates may adopt, from time to time, for similarly situated executives (an "Incentive Bonus").
Annual Incentive Bonus. During the Term hereof, the Board may pay to Executive an annual incentive cash bonus in accordance with the terms of the Short Term Incentive Compensation Plan.
Annual Incentive Bonus. The Executive shall be entitled to receive an annual cash incentive bonus (the “Incentive Bonus”) for each fiscal year during the Term of this Agreement consistent with a bonus policy adopted by the Compensation Committee (the “Bonus Policy”). If the Executive or the Company, as the case may be, satisfies the threshold performance criteria contained in such Bonus Policy for a fiscal year, he shall receive an annual Incentive Bonus equal to at least 40% of the Executive’s Base Salary. If the Executive or the Company, as the case may be, satisfies the target performance criteria contained in the Bonus Policy for a fiscal year, he shall receive an annual Incentive Bonus equal to at least 75% of the Executive’s Base Salary. If the Executive or the Company, as the case may be, satisfies the maximum target performance criteria contained in the Bonus Policy for a fiscal year, he shall receive an annual Incentive Bonus equal to at least 110% of the Executive’s Base Salary (the “Maximum Target Bonus”). If the Executive or the Company, as the case may be, fails to satisfy the threshold performance criteria contained in the Bonus Policy for a fiscal year, the Compensation Committee may determine whether any Incentive Bonus shall be payable to the Executive for that year. As of the Effective Date, the Bonus Policy shall contain both individual and/or Company goals established by the Compensation Committee. The Board or the Compensation Committee shall review the Bonus Policy at least once a year to determine whether the Maximum Target Bonus should be increased effective January 1 of any year during the Term, or whether any additional changes should be made to the Bonus Policy effective January 1 of any year. The annual Incentive Bonus, if any, shall be paid to the Executive no later than 30 days after the date the Compensation Committee determines whether the criteria in the Bonus Policy for such fiscal year were satisfied and the amount of the actual bonus, but no later than March 15th of each year. For purposes of this Agreement, the term “Incentive Bonus” shall mean the amount established pursuant to this Section 4.
Annual Incentive Bonus. The Executive shall be eligible to receive an annual incentive bonus (the “Target Bonus”) for each fiscal year during the Term of this Agreement, based on satisfactory achievement of reasonable performance criteria and objectives (satisfaction of such criteria and objectives, “Target Performance”) to be adopted by the Board, as advised by the Compensation Committee of the Board (the “Compensation Committee”), in its sole discretion, after consultation with management, each year prior to or as soon as practicable after the commencement of such year, but in no event later than March 1 of the applicable performance year, and set forth in a written plan (the “Annual Bonus Plan”). If (i) the Compensation Committee determines that Target Performance has been fully achieved with respect to a given performance year and (ii) the Executive is employed by the Company throughout the entirety of such year (January 1 through December 31), then the Executive shall be entitled to receive payment of the full Target Bonus. If the Compensation Committee determines that Target Performance is not achieved with respect to the applicable performance year, then the Compensation Committee may determine whether any Target Bonus shall be payable to the Executive for such year. The Target Bonus, if any, shall be paid to the Executive no later than 30 days after the date the Board, or the Compensation Committee, determines (i) whether or not Target Performance for such performance year has been achieved, and (ii) the amount of the actual bonus; provided that, except as may be set forth in the Annual Bonus Plan, in no event shall any Target Bonus payable be paid later than February 15 of the year following the year to which it relates. For the avoidance of doubt, if the Executive was employed by the Company from January 1 through December 31 of a performance year, the Executive has met the employment criterion for Target Bonus eligibility for that year and need not be employed by the Company thereafter, including at the time the Target Bonus, if any, is determined or paid for that performance year, in order to receive payment of any Target Bonus amount the Executive would otherwise be entitled to receive.
Annual Incentive Bonus. During the Employment Term, Executive will be eligible to earn an annual incentive bonus (an “Annual Bonus”) under the same or substantially same bonus arrangement, plan or program as in effect for other executive-level employees of the Company from time to time and based upon the same general objective standards as are applied to the other executive-level employees of Company, provided that Executive’s personal performance objectives shall be unique to his role as Vice-President of Xxxxxx Transport, Inc. Consistent therewith, the Board of Directors of the Company (the “Board”) (or a committee of the Board, if applicable) will determine Executive’s target bonus opportunity and the criteria for earning such bonus, as well as Executive’s achievement of such criteria, and the amount of the Annual Bonus earned and payable to Executive for such year. Any Annual Bonus that is earned and becomes payable pursuant to this Section 3(b) will be paid no later than March 15 of the calendar year immediately following the calendar year to which the Annual Bonus relates. Executive’s Annual Bonus for calendar year 2019 shall be prorated on a weekly basis for his period of employment in such year. Executive must remain employed by the Company through December 31 of the applicable calendar year to be eligible to earn an Annual Bonus for such year; provided, however, that if the Employment Term ends prior to December 31 by reason of either termination by Executive for Good Reason or by the Company’s At-Will Termination, the Annual Bonus for such partial calendar year shall be prorated on a weekly basis for his period of employment in such year. The determinations of the Board (or a committee thereof) with respect to the Annual Bonus will be final and binding unless there is direct evidence that the determination was in violation of the terms and provision of this Section 3(b) or the applicable program, plan or arrangement.
Annual Incentive Bonus. During the Term, Employee shall be eligible to participate in the Annual CEO Direct Reports Bonus Plan, with a target bonus of 50% of Employee’s annual Base Salary. A bonus, if earned, shall be payable as soon as reasonably practical following the completion of the applicable fiscal year. Bonuses for Employee shall be based on the achievement of such Company, departmental and/or individual performance goals that may be established for the applicable bonus year by the Compensation Committee.
Annual Incentive Bonus. In addition to the Executive’s base salary as provided above, the Executive will be eligible for an annual cash incentive bonus for each calendar year of the Employment Period. The bonus for which the Executive is eligible for each such year will be based on a target percentage of the then current base salary, which target percentage shall be at least 50% of Executive’s then current base salary. The determination of the amount of the annual cash incentive bonus will be based upon the satisfaction of performance criteria established by the Compensation Committee in its discretion and upon consultation with the Executive at the beginning of each year and subject to the approval of the Board. Depending on the Executives performance against the performance criteria, the actual annual cash incentive bonus may be more, equal to or less than the target. Such performance criteria will include corporate performance goals consistent with the Company’s business plan for the year, as well as individual objectives for the Executive’s performance that may be separate from, but are consistent with, the Company’s business plan. The final determinations as to the actual corporate and individual performance against the pre-established goals and objectives, and the amount of the bonus payout in relationship to such performance, will be made by the Compensation Committee in its sole discretion. To the extent the Company awards the Executive a cash bonus, the bonus, if payable, shall be calculated and paid no later than two and a half months following the later of the close of the calendar or Company fiscal year to which such bonus relates.
Annual Incentive Bonus. In addition to the base salary to be paid to the Executive under Section III.(A), the Executive may also be entitled to an annual incentive bonus as established and modified, from time to time, by the Compensation Committee.
Annual Incentive Bonus. (a) In each calendar year during the Employment Period, beginning in calendar year 2012, Executive shall be eligible to receive an annual incentive bonus determined annually at the discretion of the Board (the “Incentive Bonus”), subject to the attainment of certain objectives, which shall be established in writing by the Executive and the Board prior to each Bonus Period. Any payments made under this Section 5.2(a), shall be paid within 3 1/2 months of the end of the Bonus Period; the Incentive Bonus is not subject to forfeiture after the conclusion of the Bonus Period.
(b) For the Bonus Period in which the Executive’s employment with the Company terminates for any reason, the Company shall pay the Executive a pro rata payment of the portion of the discretionary Incentive Bonus that would have been earned for such year (determined at the end of the calendar year in which such termination occurs) multiplied by a fraction, the numerator of which is the number of days transpired in the calendar year up to and including the date on which Executive is terminated, and the denominator of which is 365, such payment shall be made at the time when bonus payments are paid to other senior executives in accordance with the Company’s normal payroll procedures.
(c) The Executive shall receive such additional bonuses, if any, as the Board may in its sole and absolute discretion determine.
(d) Any bonuses payable pursuant to this Section 5.2 are sometimes hereinafter referred to as “Incentive Compensation.” Each period for which Incentive Compensation is payable under the Agreement is sometimes hereinafter referred to as a Bonus Period. Unless otherwise specified by the Board or provided under this Agreement, the Bonus Period shall be the fiscal year of the Company.
