Annual Stock Bonus Sample Clauses

Annual Stock Bonus. Beginning with the end of fiscal year 2001, and continuing throughout the life of the Agreement, the Employee shall be eligible for an annual stock bonus according to the following schedule: a ten percent (10%) increase from the previous year's gross sales shall entitle the Employee to One Hundred and Twenty-Five Thousand (125,000) Shares of the Employer; a fifteen percent (15%) increase from the previous year's gross sales shall entitle the Employee to Two Hundred and Fifty Thousand (250,000) Shares of the Employer; a twenty percent (20%) increase from the previous year's gross sales shall entitle the Employee to Three Hundred and Seventy-Five Thousand (375,000) Shares of the Employer and a twenty- five percent increase from the previous year's gross sales shall entitle the Employee to Five Hundred Thousand (500,000) Shares of the Employer.
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Annual Stock Bonus. In addition to the Annual Cash Bonus, for each completed year in the Term commencing after December 31, 2013, the Executive shall be eligible to receive an annual grant of restricted Parent Stock under and subject to the terms of the Equity Plan (each an “Annual Stock Bonus”). Other than for the Annual Stock Bonus for calendar year 2014 (the “2014 Annual Stock Bonus”), subject to the approval by the Committee under, and as defined in, the Equity Plan, each Annual Stock Bonus will consist of a grant under the Equity Plan of a number of shares of Parent Stock equal in value to a threshold level of 250% of the Base Salary for the applicable year, a target level of 350% of Base Salary and potentially up to a maximum level of 450% of the Base Salary based on performance criteria related to the Executive’s performance and the Company’s profitability as determined in the discretion of the Senior Officer and the Board and approved by the Committee. With respect to the 2014 Annual Stock Bonus, (i) the performance criteria will be those previously established for the 2014 Annual Stock Bonus in accordance with the Initial Agreement (including the threshold, target and maximum levels) measured over the period from November 7, 2013 through December 31, 2014, and (ii) Executive’s Base Salary for the purpose of determining the amount of any 2014 Annual Stock Bonus shall be the 2014 Base Salary. The Annual Stock Bonus for a calendar year shall be granted as soon as possible following the end of the calendar year to which the Annual Stock Bonus relates. Each Annual Stock Bonus will be subject to time-based vesting in equal installments on each of the first three anniversaries of the December 31 of the year for which such Annual Stock Bonus is granted or such other period as determined by the Board (or the Compensation Committee of the Board) and will have such other terms that are no less favorable as restricted shares of Parent Stock granted to other senior executives of the Company, as determined in the discretion of the Senior Officer and the Board and approved by the Committee. The Executive must be employed by the Company or an affiliate of the Company on the date an Annual Stock Bonus is granted to be eligible to receive the Annual Stock Bonus for such year.
Sample 1
Annual Stock Bonus. In addition to the Annual Cash Bonus, for each completed year in the Term commencing after December 31, 2013, the Executive shall be eligible to receive an annual grant of restricted Parent Stock under and subject to the terms of the Equity Plan (each an “Annual Stock Bonus”). Subject to the approval by the Committee under, and as defined in, the Equity Plan, each Annual Stock Bonus will consist of a grant under the Equity Plan of a number of shares of Parent Stock equal in value to a threshold level of 150% of the Base Salary for the applicable year, a target level of 200% of Base Salary and potentially up to a maximum level of 250% of the Base Salary based on performance criteria related to the Executive’s performance and the Company’s profitability as determined in the discretion of the Senior Officer and the Board and approved by the Committee. Notwithstanding the foregoing, for purpose of any Annual Stock Bonus granted for 2014, the performance criteria will be measured over the period from the Effective Date through December 31, 2014. The Annual Stock Bonus for a fiscal year shall be granted as soon as possible following the end of the fiscal year to which the Annual Stock Bonus relates. Each Annual Stock Bonus will be subject to time-based vesting in equal installments on each of the first three anniversaries of the December 31 of the year for which such Annual Stock Bonus is granted or such other period as determined by the Board and will have such other terms that are no less favorable as restricted shares of Parent Stock granted to other senior executives of the Company, as determined in the discretion of the Senior Officer and the Board and approved by the Committee. The Executive must be employed by the Company or an affiliate of the Company on the date an Annual Stock Bonus is granted to be eligible to receive the Annual Stock Bonus for such year.
Sample 1
Annual Stock Bonus. (a) On January 1 of each calendar year beginning in 2015 (each a "Grant Date"), Executive shall be eligible to receive shares of restricted Common Stock (the "Stock Bonus") with a targeted amount equal to _____% of Base Salary in effect at the time of grant, divided by the average closing price of a share of Common Stock on the last 20 trading days prior to any Grant Date (the “Average Trading Price”). The Stock Bonus shall be divided with 60% being performance vested shares (the "Performance Shares") and 40% being time vested shares (the "Time Vested Shares").
Sample 1
Annual Stock Bonus. In addition to the Annual Cash Bonus, for each completed calendar year in the Term the Executive shall be eligible to receive an annual grant of equity awards subject to such terms and conditions, including vesting, as may be determined by the Compensation Committee, in its sole discretion (each such grant, an “Annual Stock Bonus”). For the avoidance of doubt, the Executive shall be eligible to receive an Annual Stock Bonus for his services from August 5, 2014 through December 31, 2014 based on the positions held by the Executive during such period. Any Annual Stock Bonus for each completed calendar year shall be granted by the Company to the Executive at the same time that equity awards are granted generally to other senior executives of the Company.
Sample 1
Annual Stock Bonus. For each calendar year of the Company commencing after December 31, 2013, Executive shall be eligible to receive shares of Common Stock and restricted Common Stock (the “Stock Bonus”) upon Executive meeting certain performance goals (“Performance Goals”) that shall be established by the Compensation Committee before the commencement of the calendar year to which such Stock Performance Targets relate (the “Performance Year”). The Stock Bonus shall have a targeted amount equal to two hundred percent (200%) of Base Salary effect on the last day of the applicable Performance Year (the “Performance End Date”), divided by the average closing price of a share of Common Stock on the last 20 trading days of such Performance Year. The actual amount of Executive’s Stock Bonus shall depend upon the level of Stock Performance Targets that are achieved by the Executive. The determination of whether the Stock Performance targets are met and the amount of Stock Bonus to be paid to Executive shall be determined in good faith by the Compensation Committee. The Stock Bonus with respect to a Performance Year shall be awarded to Executive no later than 60 days following the end such Performance Year, provided Executive remains continuously employed though such date. The Stock Bonus shall vest (and the restrictions on such vested shares shall lapse) as follows: (i) one quarter (25%) of the Stock Bonus shall vest upon the date the Stock Bonus is awarded, (ii) one quarter (25%) of the Stock Bonus shall vest on the first anniversary of the Performance End Date, (ii) one quarter (25%) of the Stock Bonus shall vest on the second anniversary of the Performance End Date, and (iii) one quarter (25%) of the Stock Bonus shall vest on the third anniversary of the Performance End Date, provided that Executive remains continuously employed by the Company through each vesting date. The Restricted Stock Bonus shall be governed by the CAP Plan and the award agreement that Executive and the Company shall enter into, the terms of which shall be consistent with this Section 4(d).
Sample 1

Related to Annual Stock Bonus

  • Stock Bonus For each fiscal year of Company in which the net profits of Company exceed Two Hundred Fifty Thousand ($250,000) Dollars or the net profits of Company for that fiscal year exceed the net profits of Company for the previous fiscal year by Fifteen (15%) percent, whichever is less the Company agrees to transfer to Executive each year during the term of Executive Employment, within one (1) month after the close of each fiscal year during all of which the Executive served as Vice President of the Company, the number of shares of Company's stock equal in value to Seventy-Five Thousand ($75,000) Dollars. For the purpose of determining the number of shares to be transferred to Executive, the shares shall be valued, as of the close of each fiscal year, under one of the following formulas:

  • Performance Stock Units The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Restricted Stock Unit Award Subject to the terms and conditions of the Plan and this Award Agreement, the Company hereby grants to the Participant the number of Restricted Stock Units indicated in the Notice of Grant (the “RSUs”). Each RSU represents one notional Share.

  • Performance Units Subject to the limitations set forth in paragraph (c) hereof, the Committee may in its discretion grant Performance Units to any Eligible Person and shall evidence such grant in an Award Agreement that is delivered to the Participant which sets forth the terms and conditions of the Award.

  • RESTRICTED STOCK UNITS AWARD The Compensation and Management Development Committee of the Board of Directors of Xxxxxxx-Xxxxx Squibb Company (the “Committee”) has granted to you as of the Award Date an Award of RSUs as designated herein subject to the terms, conditions, and restrictions set forth in this Agreement and the Plan. Each RSU shall represent the conditional right to receive, upon settlement of the RSU, one share of Xxxxxxx-Xxxxx Squibb Common Stock (“Common Stock”) or, at the discretion of the Company, the cash equivalent thereof (subject to any tax withholding as described in Section 4). The purpose of such Award is to motivate and retain you as an employee of the Company or a subsidiary of the Company, to encourage you to continue to give your best efforts for the Company’s future success, and to increase your proprietary interest in the Company. Except as may be required by law, you are not required to make any payment (other than payments for taxes pursuant to Section 4 hereof) or provide any consideration other than the rendering of future services to the Company or a subsidiary of the Company.

  • Restricted Stock Units Subject to the terms and conditions provided in this Agreement and the Plan, the Company hereby grants to the Grantee restricted stock units (the “Restricted Stock Units”) as of the Grant Date. Each Restricted Stock Unit represents the right to receive a Share of Common Stock if the Restricted Stock Unit becomes vested and non-forfeitable in accordance with Section 2 or Section 3 of this Agreement. The Grantee shall have no rights as a stockholder of the Company, no dividend rights and no voting rights with respect to the Restricted Stock Units or the Shares underlying the Restricted Stock Units unless and until the Restricted Stock Units become vested and non-forfeitable and such Shares are delivered to the Grantee in accordance with Section 4 of this Agreement. The Grantee is required to pay no cash consideration for the grant of the Restricted Stock Units. The Grantee acknowledges and agrees that (i) the Restricted Stock Units and related rights are nontransferable as provided in Section 5 of this Agreement, (ii) the Restricted Stock Units are subject to forfeiture in the event the Grantee’s Continuous Status as an Employee or Consultant or Non-Employee Director terminates in certain circumstances, as specified in Section 6 of this Agreement, (iii) sales of Shares of Common Stock delivered in settlement of the Restricted Stock Units will be subject to the Company’s policies regulating trading by Employees and Consultants, including any applicable “blackout” or other designated periods in which sales of Shares are not permitted, (iv) Shares delivered in settlement will be subject to any recoupment or “clawback” policy of the Company, regardless of whether such recoupment or “clawback” policy is applied with prospective or retroactive effect, and (v) any entitlement to dividend equivalents will be in accordance with Section 7 of this Agreement. The extent to which the Grantee’s rights and interest in the Restricted Stock Units becomes vested and non-forfeitable shall be determined in accordance with the provisions of Sections 2 and 3 of this Agreement.

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