Common use of Annual Performance Bonus Clause in Contracts

Annual Performance Bonus. As additional incentive compensation for the services to be rendered by the Employee pursuant to this Agreement, the Employee shall be eligible, each calendar year, to receive a bonus (the "Annual Performance Bonus"), if and to the extent that the performance metrics or other requirements that must be satisfied in order for the Employee to receive the Annual Performacne Bonus have been achieved. The determination of whether to pay an Annual Performance Bonus, if any, and the amount of any such Annual Performance Bonus, shall be determined by the Company’s Board of Directors or the Board’s designated committee, in their discretion, and for 2021 shall be at a target value equal to 60% of the Employee’s Salary. Any Annual Performance Bonus that is due to the Employee hereunder shall be paid as soon as practicable, but in no event later than 30 days following completion of the Employer's audited financial statements of the year to which the Annual Performance Bonus relates.

Appears in 8 contracts

Samples: Employment Agreement (PGT Innovations, Inc.), Employment Agreement (PGT Innovations, Inc.), Employment Agreement (PGT Innovations, Inc.)

AutoNDA by SimpleDocs

Annual Performance Bonus. As additional incentive compensation for the services to be rendered by the Employee pursuant to this Agreement, the Employee shall be eligible, each calendar year, to receive a bonus (the "Annual Performance Bonus"), if and to the extent that the performance metrics or other requirements that must be satisfied in order for the Employee to receive the Annual Performacne Performance Bonus have been achieved. The determination of whether to pay an Annual Performance Bonus, if any, and the amount of any such Annual Performance Bonus, shall be determined by the Company’s Board of Directors or the Board’s designated committee, in their discretion, and for 2021 2022 shall be at a target value equal to 6065% of the Employee’s Salary. Any Annual Performance Bonus that is due to the Employee hereunder shall be paid as soon as practicable, but in no event later than 30 days following completion of the Employer's ’s audited financial statements of the year to which the Annual Performance Bonus relates.

Appears in 2 contracts

Samples: Employment Agreement (PGT Innovations, Inc.), Employment Agreement (PGT Innovations, Inc.)

Annual Performance Bonus. As additional incentive compensation for the services to be rendered by the Employee pursuant to this Agreement, the Employee shall be eligible, each calendar year, to receive a bonus (the "Annual Performance Bonus"), if and to the extent that the performance metrics or other requirements that must be satisfied in order for the Employee to receive the Annual Performacne Performance Bonus have been achieved. The determination of whether to pay an Annual Performance Bonus, if any, and the amount of any such Annual Performance Bonus, shall be determined by the Company’s Board of Directors or the Board’s designated committee, in their discretion, and for 2021 2022 shall be at a target value equal to 60% of the Employee’s Salary. Any Annual Performance Bonus that is due to the Employee hereunder shall be paid as soon as practicable, but in no event later than 30 days following completion of the Employer's ’s audited financial statements of the year to which the Annual Performance Bonus relates.

Appears in 2 contracts

Samples: Employment Agreement (PGT Innovations, Inc.), Employment Agreement (PGT Innovations, Inc.)

Annual Performance Bonus. As additional incentive compensation for the services to be rendered by the Employee pursuant to this Agreement, the Employee shall be eligible, each calendar year, to receive a bonus (the "Annual Performance Bonus"), if and to the extent that the performance metrics or other requirements that must be satisfied in order for the Employee to receive the Annual Performacne Performance Bonus have been achieved. The determination of whether to pay an Annual Performance Bonus, if any, and the amount of any such Annual Performance Bonus, shall be determined by the Company’s Board of Directors or the Board’s designated committee, in their discretion, and for 2021 2022 shall be at a target value equal to 6075% of the Employee’s Salary. Any Annual Performance Bonus that is due to the Employee hereunder shall be paid as soon as practicable, but in no event later than 30 days following completion of the Employer's ’s audited financial statements of the year to which the Annual Performance Bonus relates.

Appears in 1 contract

Samples: Employment Agreement (PGT Innovations, Inc.)

AutoNDA by SimpleDocs

Annual Performance Bonus. As additional incentive compensation for the services to be rendered by the Employee pursuant to this Agreement, the Employee shall be eligible, each calendar year, to receive a bonus (the "Annual Performance Bonus"), if and to the extent that the performance metrics or other requirements that must be satisfied in order for the Employee to receive the Annual Performacne Performance Bonus have been achieved. The determination of whether to pay an Annual Performance Bonus, if any, and the amount of any such Annual Performance Bonus, shall be determined by the Company’s Board of Directors or the Board’s designated committee, in their discretion, and for 2021 2022 shall be at a target value equal to 60100% of the Employee’s Salary. Any Annual Performance Bonus that is due to the Employee hereunder shall be paid as soon as practicable, but in no event later than 30 days following completion of the Employer's ’s audited financial statements of the year to which the Annual Performance Bonus relates.

Appears in 1 contract

Samples: Employment Agreement (PGT Innovations, Inc.)

Annual Performance Bonus. As additional incentive compensation for the services to be rendered by the Employee pursuant to this Agreement, the Employee shall be eligible, each calendar year, to receive a bonus (the "Annual Performance Bonus"), if and to the extent that the performance metrics or other requirements that must be satisfied in order for the Employee to receive the Annual Performacne Performance Bonus have been achieved. The determination of whether to pay an Annual Performance Bonus, if any, and the amount of any such Annual Performance Bonus, shall be determined by the Company’s Board of Directors or the Board’s designated committee, in their discretion, and for 2021 2023 shall be at a target value equal to 60% of the Employee’s Salary. Any Annual Performance Bonus that is due to the Employee hereunder shall be paid as soon as practicable, but in no event later than 30 days following completion of the Employer's ’s audited financial statements of the year to which the Annual Performance Bonus relates.

Appears in 1 contract

Samples: Employment Agreement (PGT Innovations, Inc.)

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