Annual Performance Award. For each fiscal year of employment during which the Company employs the Employee, the Employee shall be entitled to receive a target annual performance award in accordance with the terms of any plan governing employee performance awards then in effect as established by the Board (the “Annual Performance Award”).
Annual Performance Award. For each fiscal year of employment during which the Company employs the Executive, the Executive shall be entitled to receive a target annual performance award of up to a maximum of 150% of Executive’s Annual Base Salary, in accordance with the terms of any plan governing senior management performance awards then in effect as established by the Board (the “Annual Performance Award”), such Annual Performance Award to be paid effective the 1st day of January of each year of the employment term with respect to the immediately preceding year.
Annual Performance Award. You will be eligible to participate in an annual performance compensation plan (“Performance Compensation Plan”) established by the Company’s Board of Directors (the “Board”) or Compensation Committee thereof, at a target level that is specified by the Compensation Committee (currently specified as 100% of your eligible salary) as it may be amended from time to time by the Board or Compensation Committee. The actual performance award, if any, shall be pursuant to the terms and conditions set forth in the Performance Compensation Plan and shall be payable at such time as performance awards are paid to other senior executive officers who participate therein. Payment of any annual performance award will be subject to your continued employment with the Company through the date the performance award is paid pursuant to the Performance Compensation Plan.
Annual Performance Award. Subject to the terms and conditions of this Agreement and the Plan and your consent to those terms and conditions, Toro hereby grants you this Annual Performance Award denominated and to be paid if earned entirely in cash, the amount of which will be based on the achievement of the Performance Goals set forth on Exhibit A to this Agreement during the Performance Period (as defined below). For purposes of this Annual Performance Award, your “Target Potential Payout” is equal to [ ] of your actual base salary earnings for the fiscal year ending October 31, [ ], and your “Maximum Potential Payout” is equal to 200% of your Target Potential Payout; provided, however, that if you are a Covered Employee your actual base salary earnings taken into account may not exceed your annual base salary in effect on the Grant Date.
Annual Performance Award. During the Employment Term, the Executive shall be eligible to participate in the Company’s annual performance award program for senior executives as in effect from time to time. The Executive’s target performance award shall not be less than forty percent (40%) of Base Salary. The amount of the performance award for each fiscal year, if any, shall be based on Company performance and individual performance for the relevant year (pro-rated for the number of days during the 2012 fiscal year that the Executive is employed by the Company), as determined by the Board or the Committee, in its sole discretion. The performance award shall be payable in accordance with the terms of the Company’s performance award program in effect from time to time.
Annual Performance Award. For each fiscal year of employment during which the Company employs the Executive, the Executive shall be entitled to receive a target annual performance award of eighty percent (80%) of Executive’s Annual Base Salary, in accordance with the terms of any plan governing senior management performance awards then in effect as established by the Compensation Committee (the “Annual Performance Award”), with such Annual Performance Award to be paid in accordance with the terms of the applicable plan. For the avoidance of doubt, Executive shall continue to be eligible to receive a target annual performance award for the 2023 fiscal year of seventy-five percent (75%) of Executive’s annual base salary at the level in effect during the 2023 fiscal year, to be paid in accordance with the terms of the applicable plan.
Annual Performance Award. For each of the Company’s fiscal years during which the Executive is employed by the Company, the Executive shall be entitled to receive a target annual performance award in accordance with the terms of any plan governing employee performance awards then in effect as established by the Board (the “Annual Performance Award”).
Annual Performance Award. (a) After the end of the calendar year in which the Grant Date occurs (the “Performance Period”), the target number of Shares subject to the Annual Performance Award shall be adjusted based on the level of achievement of the performance goal(s) established with respect to the Performance Period as set forth in the attached Exhibit A.
(b) Subject to Section 5 below, the Employee shall become vested in, and entitled to receive, the Shares as adjusted pursuant to Exhibit A as follows: 25% as of December 31, 20__ 25% as of December 31, 20__ 25% as of December 31, 20__ 25% as of December 31, 20__
Annual Performance Award. A new sentence is hereby inserted between the existing first and second sentences in Section 3.E of the Original Agreement to read as follows: “For calendar year 2021, subject to Compensation Committee approval, Executive will be eligible to receive from QRI an award of Performance RSUs with a target value equal to $5,500,000 and a maximum value equal to $8,250,000.”
Annual Performance Award. For each fiscal year of employment during which the Company employs the Executive, the Executive shall be entitled to receive a target annual performance award of one-hundred percent (100%) of Executive’s Annual Base Salary, in accordance with the terms of any plan governing senior management performance awards then in effect as established by the Compensation Committee (the “Annual Performance Award”), with such Annual Performance Award to be paid in accordance with the terms of the applicable plan. In connection with the beginning of Executive’s employment, Executive shall be entitled to receive one-hundred and fifty thousand dollars ($150,000) to offset expenses in connection with his relocation (above and beyond the customary relocation benefits offered to Employee), which shall be deducted from Executive’s Annual Performance Award paid in 2025 (i.e., $700,000 - $150,000 = $550,000 Annual Performance Award).
