Annual Incentive Payments. The Executive shall be eligible to receive an annual incentive payment (the "Incentive Payment") as determined in accordance with the Company's Management Incentive Plan or any successor thereto (the "Incentive Plan"), a copy of which is attached hereto as Exhibit D. The Executive's target Incentive Payment for 2005 shall be 15% of his salary range for such year, such target percentage for 2006 to be reviewed by the Board not later than January 2006.
Annual Incentive Payments. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year during the Employment Period, an annual bonus ("Annual Bonus") in cash, in accordance with the Company's Annual Bonus Plan, or other plan instituted in lieu of the Annual Bonus Plan which provides for an annual incentive payment in addition to Annual Base Salary ("Substitute Plan"). The Executive shall participate in the Annual Bonus Plan or Substitute Plan at the same level at which the Executive participated immediately prior to the Effective Date, or if more favorable, at the level of other peer executives of the Company and its affiliated companies. Any Substitute Plan instituted by the Company after the Effective Date shall be at least as favorable, in the aggregate, as the most favorable Annual Bonus Plan or Substitute Plan in effect at any time during the 90-day period immediately preceding the Effective Date
Annual Incentive Payments. In addition to Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period, an annual bonus (“Annual Bonus”) in cash at least equal to the Executive’s average annual or annualized (for any fiscal year consisting of less than 12 full months or with respect to which the Executive has been employed by the Company for less than 12 full months) award earned by the Executive, including any award earned but deferred, under the Company’s Executive Incentive Plan, as amended from time to time prior to the Effective Date (or under any successor or replacement annual incentive plan of the Company or any of the affiliated companies), for the last three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (the “Three-Year Average Bonus”). If the Executive has not been eligible to earn, or has not been employed, for each of the last three fiscal years immediately preceding the fiscal year during which the Effective Date occurs but has earned a bonus for at least one fiscal year during the last three fiscal years immediately preceding the fiscal year during which the Effective Date occurs, the “Three-Year Average Bonus” shall mean the average of any annual or annualized bonus actually earned over any such years. If the Executive has not been eligible to earn, or has not received, such a bonus for any fiscal year prior to the Effective Date, the “Three-Year Average Bonus” shall mean the Executive’s Target Annual Bonus for the year during which the Effective Date occurs. Each such Annual Bonus shall be paid no later than two and a half months after the end of the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).
Annual Incentive Payments. With respect to each fiscal year of the Corporation and the Bank ending during the Term of this Agreement, the Executive shall be eligible to receive an annual incentive payment as determined by the Compensation Committee in accordance with the Corporation’s Executive Incentive Plan.
Annual Incentive Payments. In consideration of Participant’s payment of the Enrollment Fee, and subject to all the terms and conditions set forth herein, the Participant shall receive the following financial benefits, which shall be an amount based on the eligible WA State Production Incentive Credits generated by the Solar Unit(s) purchased by the Participant under the Program. The Participant shall receive a WA State Production Incentive starting in 2020, which shall continue until the end of the WA State Production Incentive Credits currently set to expire on June 30, 2028. The participant shall also receive an annual Generated Energy Credit (starting in 2020) based on the amount of energy generated by the Solar Unit(s) purchased by the Participant under the Program.
5.1 The WA State Production Incentive Credits will be paid in the form of a check and shall be mailed to the Participant via USPS to the Service Address or designated mailing address provided if mail is not accepted at the service address.
5.2 The Generated Energy Credits will be paid in the form of a credit to the Participant’s Utility Account.
Annual Incentive Payments. With respect to the 2015 fiscal year and each full fiscal year of the Company occurring during the Term, commencing with the 2016 fiscal year of the Company, Executive shall be eligible to receive a discretionary annual incentive payment (“Annual Incentive Payment”) in such amount as determined in the sole discretion of the compensation committee of the Board (the “Compensation Committee”), based upon the Compensation Committee’s assessment of Executive’s performance. The Compensation Committee may establish performance targets in connection with such Annual Incentive Payment, which performance targets shall be determined in consultation with Executive. Any Annual Incentive Payment that becomes earned hereunder shall be paid within two and one-half (2-1/2) months after the last day of the fiscal year or such other date that conforms to the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (“Code”). Any Annual Incentive Payments payable hereunder may be paid in the form of cash, equity-based awards or a combination thereof, as determined by the Compensation Committee in its sole discretion.
Annual Incentive Payments. In addition to Annual Base Salary, the Executive shall be paid, for each fiscal year ending during the Employment Period, an annual bonus (“Annual Bonus”) in cash at least equal to the Executive’s average annual or annualized (for any fiscal year consisting of less than 12 full months or with respect to which the Executive has been employed by the Company for less than 12 full months) award earned by the Executive, including any award earned but deferred, under the Company’s Executive Incentive Plan, as amended from time to time prior to the Effective Date (or under any predecessor, successor or replacement annual incentive plan of the Company or its Affiliates), for the last three fiscal years immediately preceding the fiscal year in which the Effective Date occurs (the “Three-Year Average Bonus”). If the Executive has not been eligible to earn, or has not been employed, for each of the last three fiscal years immediately preceding the fiscal year during which the
Annual Incentive Payments. (i) Executive shall be eligible for an annual incentive payment (the "Incentive Bonus") with a target of 100% (with a maximum of 150% based on significant above target achievement) of Executive's then-current annual base salary based on the overall financial performance of the Company, applying criteria and objectives similar to those it considers when determining incentive compensation for other similar senior executives of the Company for the same period of the Term. In addition, the Executive shall be eligible for an additional annual bonus (the "Strategic Bonus") with a target of 100% of the Executive's annual base compensation to be based on a plan (the "Strategic Bonus Plan") that shall be reasonably established by the Committee in consultation with the Executive as soon as practicable after the Effective Date. The parties acknowledge and agree that the Strategic Bonus Plan shall specifically include strategic objectives to be achieved by the Company, as well as, to the extent reasonably measurable, financial hurdles and/or milestones to be achieved by the Company in connection with such strategic objectives.
(ii) With respect to the fiscal year ending March 31, 2005, Executive will be eligible for a pro rata Incentive Bonus based on the portion of the fiscal year during which Executive is employed by the Company and the actual results for the fiscal year and a pro rata Strategic Bonus in the discretion of the Committee.
(iii) In addition to the foregoing, the Board or Committee shall have sole and unreviewable discretion to award Executive additional incentive compensation at any time during the Term.
Annual Incentive Payments. GOT hereby agrees to make an incentive payment on or before April 30th of each year (beginning at the earliest in 2021 and ending at the latest in 2032) for the qualifying Full Time Jobs; provided, however, that Business must first provide GOT with the documentation relating to such employment levels as required by subsection (d) below. Payment of the Employee Incentive is subject to the terms of Section 6(a) below.
Annual Incentive Payments. Subject to all the terms and conditions set forth herein, the Participant shall receive the following financial benefits, which shall be an amount based on the eligible WA State Production Incentive Credits generated by the Solar Unit(s) purchased by the Participant under the Program. The Participant shall receive a WA State Production Incentive starting in 2020, which shall continue until June 30, 2023. The participant shall also receive an annual Generated Energy Credit (starting in 2020 through December 2023) based on the amount of energy generated by the Solar Unit(s) purchased by the Participant under the Program.
5.1 The WA State Production Incentive Credits will be paid in the form of a check and shall be mailed to the Participant via USPS to the Service Address or designated mailing address provided if mail is not accepted at the service address.
5.2 The Generated Energy Credits will be paid in the form of a credit to the Participant’s Utility Account.
