Annual Retention Bonus Sample Clauses

Annual Retention Bonus. Each regular bus driver shall be paid an annual retention bonus as set out in Schedule C each September for the prior school year. The bonus will be pro-rated for the number of months worked in the prior school year and will be reduced proportionately for unpaid personal leave taken in the prior school year in excess of what is provided in Section 15.50 Personal Leave.
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Annual Retention Bonus. The Company will pay Executive an annual retention bonus of USD $100,000 (the “Retention Bonus”), which shall be paid on each anniversary of Executive’s initial appointment date with the Company (which original appointment date was January 6, 2020); provided, however, that Executive is not serving notice of resignation or termination as of the payment date, and is otherwise in continuous service at the Company. The Retention Bonus amount shall be payable in accordance with the Company’s payroll practices as in effect, and subject to such withholdings as required by law. Executive acknowledges and agrees that Executive has received, and the Company has satisfied its obligation in respect of, the first Retention Bonus payment of USD$100,000 (for the period of January 6, 2020 through January 6, 2021).
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Annual Retention Bonus. The Company provides eligible employees with Annual Retention Bonus to reward loyalty, performance and added value to Rimini Street through continued employment. The Annual Retention Bonus is determined by multiplying the employee’s Target Annual Retention Bonus (dollar amount) by the Annual Company Performance Factor and the average of the Quarterly Personal Performance Factor used for the Quarterly Performance Bonus payments made to employee from January 1 through December 31 of the prior calendar year. Annual Company Performance Factor is determined based on the Company’s achievement of annual targets for client invoicing (80%) and expenses (20%), and may be modified upward or downward based on achievement of client satisfaction targets averaged for the entire year. The Annual Retention Bonus shall be paid on or before March 15 of the following year. Effective January 1, 2013, for those employees eligible to receive an Annual Retention Bonus, eligibility begins on the employee’s start of employment and is pro-rated for the employee’s first calendar year. Thereafter, to be eligible for the Annual Retention Bonus for a given calendar year, the employee must be employed through the last day of the calendar year in question. The Annual Retention Bonus shall be pro-rated to account for any extended absence (meaning more than 5 contiguous days, excluding approved PTO) during the applicable bonus period, pro-rated based on a 365-day year. The bonus shall also be pro-rated to exclude those days of the year in which the employee was not in good standing (including, without limitation, those days in which the employee was subject to a Performance Improvement Plan). The employee shall not be eligible for any Annual Retention Bonus for any calendar year in which one or more of the following conditions exists: (a) employee’s employment ends before the completion of a given calendar year; (b) the Annual Company Performance Factor is less than 50%; or (c) the employee’s average Quarterly Personal Performance Factor is less than 70% for the calendar year. The bonus shall also be pro-rated to exclude those days of the year in which the employee was not in good standing (including without limitation those days in which the employee was subject to a Performance Improvement Plan). Questions or concerns about this Company Bonus Policy should be discussed with Human Resources. You hereby agree and acknowledge that by signing this Release, and for other good and valuable cons...
Sample 1
Annual Retention Bonus. In addition to Employee's base compensation, Employee may also earn an Annual Retention Bonus, which is based upon Employee's completion of annual periods of continuous employment. The Annual Retention Bonus is intended as an inducement to Employee to remain continuously employed, and as consideration for the continuity of Employee's performance through the end of the retention periods, rather than for the day-to-day performance of his duties. Accordingly, Employee acknowledges and agrees that the Annual Retention Bonus is not a component of Employee's annual salary. Employee further acknowledges and agrees that the Annual Retention Bonus for Employee's first year is not earned, accrued or vested on any pro rata or other partial basis unless and until he has been actively and continuously employed by the Company through the one-year anniversary date of Employee's starting date with the Company. Employee similarly acknowledges and agrees that the Annual Retention Bonus for Employee's second year is not earned, accrued or vested on any pro rata or other partial basis unless and until he has been actively and continuously employed by the Company through the two-year anniversary date of Employee's starting date with the Company. Payments of the Annual Retention Bonus will be made to Employee in two separate advance payments, the first within 15 days of Employee's starting date with the Company, and the second within 15 days of Employee's first anniversary date with the Company. Each advance payment will be in the amount of , less required state and federal tax deductions. Should Employee terminate his employment without good reason, or be terminated at any time by the Company for cause before the one-year anniversary of his employment, Employee agrees to repay in full the first advance payment made to him by the Company. In addition, should Employee terminate his employment without good reason, after the one-year anniversary but before the two-year anniversary of his employment, Employee agrees to repay in full the second advance payment made to him by the Company. Employee further agrees to execute on the date of such termination an agreement authorizing the Company to deduct from his final paycheck any amounts necessary to effect full and complete repayment of any advances against any portion of the Annual Retention Bonus.
Sample 1
Annual Retention Bonus. In addition to your Base Salary, on the Effective Date and on each of the first and second anniversaries of the Effective Date, provided that the Employment Period shall not have been terminated prior to such anniversary, the Company shall pay to you an annual retention bonus in the amount of $50,000 (the “Annual Retention Bonus”).
Sample 1
Annual Retention Bonus. The Company agrees to pay the Employee the sum ---------------------- set forth in Exhibit A hereto on each of the first and second anniversaries of --------- the Closing Date (each, a "Payment Date"), provided that the Employee has been continuously employed by the Company, or any subsidiary of the Company (whether existing now or hereafter acquired or established) (a "Subsidiary"), during the period commencing on the Closing Date and ending on each Payment Date. In the event that the Employee's employment by the Company or any Subsidiary of the Company is terminated or ceases, for any reason, prior to any such Payment Date, the Employee shall not be entitled to any bonus under this Section 2 payable on any Payment Date subsequent to the date of the termination or cessation of the Employee's employment.
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Annual Retention Bonus. In consideration of the agreements of the ---------------------- Employee set forth in Sections 3 and 4 below, the Company agrees to pay the Employee the sum set forth in paragraph (b) of Exhibit A hereto on each of the --------- first, second and third anniversaries of the Effective Date (each, a "Payment Date"), provided that the Employee has been continuously employed by the Company, or any subsidiary of the Company (whether existing now or hereafter acquired or established) (a "Subsidiary"), during the period commencing on the Effective Date and ending on each Payment Date. In the event that the Employee's employment by the Company or any Subsidiary of the Company is terminated or ceases, for any reason, prior to any such Payment Date, the Employee shall not be entitled to any bonus under this Section 2 payable on any Payment Date subsequent to the date of the termination or cessation of the Employee's employment.
Sample 1
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Annual Retention Bonus. On each anniversary of the Effective Date, Executive shall be eligible to receive a cash bonus in the amount of $37,500 (an “Annual Retention Bonus”). In order to be eligible for any Annual Retention Bonus, Executive must be employed on the date which such bonus payment is made pursuant to this Section 2.2. Any Annual Retention Bonus shall be paid by the Company in accordance with its normal payroll practice and shall be subject to applicable federal, state and/or local payroll and withholding taxes.
Sample 1

Related to Annual Retention Bonus

  • Retention Bonus (a) Subject to Sections 2(b), 2(c) and 2(d) below and your continued employment through the Determination Date (as defined below), you will be eligible to receive a Retention Bonus equal to the annual bonus you would have been eligible to receive under the Company’s Annual Incentive Plan based on the Company’s actual performance for 2023, as determined by the Compensation Committee of the Board of Directors (the “Committee”) following the completion of 2023, had you been a participant in the Annual Incentive Plan with a target bonus opportunity of up to 40% of your base salary (such amount as determined by the Committee, the “Retention Bonus”), which determination shall occur between January 1, 2024 and March 15, 2024 (the date of such determination, the “Determination Date”). The Retention Bonus, if any, will be paid in cash in a lump sum between January 1, 2025 and March 15, 2025. You will continue to be considered an employee of the Company for purposes of this letter agreement if you are on a Company- approved leave of absence. (b) In the event of a Change in Control during 2024, subject to your continued employment through the earlier of: (1) the Determination Date; or (2) the date of the Change in Control, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the date of the Change in Control. (c) In the event of your Involuntary Termination (as defined in the Employment Agreement) on or after the Determination Date but on or prior to the date you have received the Retention Bonus, you will be eligible to receive your Retention Bonus in cash in a lump sum within 10 days following the effective date of your Release (as defined below). As a condition to your receipt of the Retention Bonus pursuant to this Section 2(c), you shall execute and not revoke a general release of all claims in favor of the Company and its affiliates (the “Release”) in the form attached to the Employment Agreement as Exhibit A. In the event the Release does not become effective within the 55-day period following the date of your Involuntary Termination, you shall not be entitled to the Retention Bonus. (d) If your employment terminates prior to the Determination Date for any reason, then this letter agreement will terminate, and you will forfeit any right you may have to receive the Retention Bonus.

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule: (i) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following the Effective Time, (ii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following six (6) months of Executive’s employment with Mercantile, (iii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following twelve (12) months of Executive’s employment with Mercantile. After twelve (12) months of Executive’s employment with Mercantile, Executive will not be entitled to any further Severance or Retention benefits. The above-listed payments and benefits are in lieu of any and all payments and benefits to which Executive may otherwise have been entitled under the CIC Agreement or any other agreement or practice.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • Salary, Bonus and Benefits For services rendered by the Employee on behalf of the Company during the Employment Term, the following salary, bonus and benefits shall be provided to the Employee by the Company: (a) The Company shall pay to the Employee, in equal installments, according to the Company’s then current practice for paying its executive officers in effect from time to time during the Employment Term, the Annual Base Salary. (b) The Employee shall participate in the Sealy Corporation Annual Bonus Plan (the “Bonus Plan”) in accordance with the provisions of that Plan as in effect as of the date of this Agreement based on the Target Annual Bonus Percentage. (c) The Employee shall be eligible for participation in such other benefit plans, including, but not limited to, the Company’s Profit Sharing Plan and Trust, Executive Severance Benefit Plan, Benefit Equalization Plan, Short-Term and Long Term Disability Plans, Group Term Life Insurance Plan, Medical Plan or PPO, Dental Plan, the 401(k) feature of the Profit Sharing Plan and the 1998 Stock Option Plan, as the Board may adopt from time to time and in which the Company’s executive officers are eligible to participate. Such participation shall be subject to the terms and conditions set forth in the applicable plan documents. As is more fully set forth in Section 6 hereof, the Employee shall not be entitled to duplicative payments under this Agreement and the Executive Severance Benefit Plan. (d) Without limiting the generality of Subsection 3(c) above, for so long as such coverage shall be available to the executive officers of the Company, the Employee shall be eligible to participate in the Company’s Group Term Life Insurance Plan with a death benefit to be provided at the level of one and one half (1 ½) times annual base salary at Company expense, plus extended coverage with a death benefit to be provided of at least the level in effect on the date of this Agreement for the Employee under such Plan at the Employee’s discretion and expense. (e) The Employee shall be entitled to take, during each calendar year period during the Employment Term, vacation time equal to four (4) weeks per year. (f) In addition, the Parties do hereby further confirm that any shares of Class A Common Stock of the Company (“Class A Shares”), and any options to purchase additional Class A Shares previously granted to Employee are in addition to, and not in lieu of, any shares or options which may be granted under any other plan or arrangement of the Company after the date of this Agreement, and (b) the various stock agreements and stock option agreements, and any related Stockholder Agreement (the “Stockholder Agreement”) between the Parties (such agreements being hereinafter referred to collectively as the “Pre-existing Agreements”), all remain in full force and effect except as otherwise provided herein. Notwithstanding the foregoing, to the extent that any provision contained herein is inconsistent with the terms of any of the Pre-existing Agreements, the terms of this Agreement shall be controlling.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Signing Bonus The Company will pay the Executive a signing bonus of $250,000, less social security contributions, income tax withholding, and any other applicable deductions, within 30 days following the Effective Date (“Signing Bonus”). If the Executive resigns his employment with the Company for any reason other than for Good Reason, or if Executive is terminated by the Company for Cause, and such resignation or termination occurs on or before the one-year anniversary of the Effective Date, the Executive will repay to the Company the Signing Bonus.

  • Severance Pay Notwithstanding the provisions of Article 62 (Severance Pay) of this Agreement, where the period of continuous employment in respect of which severance benefit is to be paid consists of both full and part-time employment or varying levels of part-time employment, the benefit shall be calculated as follows: the period of continuous employment eligible for severance pay shall be established and the part-time portions shall be consolidated to equivalent full-time. The equivalent full-time period in years shall be multiplied by the full-time weekly pay rate for the appropriate group and level to produce the severance pay benefit.

  • Salary Benefits and Bonus Compensation 3.1 BASE SALARY. Effective July 1, 2000, as payment for the services to be rendered by the Employee as provided in Section 1 and subject to the terms and conditions of Section 2, the Employer agrees to pay to the Employee a "Base Salary" at the rate of $180,000 per annum, payable in equal bi-weekly installments. The Base Salary for each calendar year (or proration thereof) beginning January 1, 2001 shall be determined by the Board of Directors of Avocent Corporation upon a recommendation of the Compensation Committee of Avocent Corporation (the "Compensation Committee"), which shall authorize an increase in the Employee's Base Salary in an amount which, at a minimum, shall be equal to the cumulative cost-of-living increment on the Base Salary as reported in the "Consumer Price Index, Huntsville, Alabama, All Items," published by the U.S. Department of Labor (using July 1, 2000, as the base date for computation prorated for any partial year). The Employee's Base Salary shall be reviewed annually by the Board of Directors and the Compensation Committee of Avocent Corporation.

  • Bonus Severance A lump-sum payment equal to 100% of the Executive’s target annual bonus as in effect for the fiscal year in which the CIC Qualified Termination occurs.

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