ANNUAL VARIABLE COMPENSATION Sample Clauses

ANNUAL VARIABLE COMPENSATION. In addition to the Executive’s Annual Base Salary, the Executive shall be entitled to earn a variable pay (the “Variable Compensation”) which shall be based upon performance goals established by the CEO from time to time and set forth in a separate document. Any changes respecting the amount or other terms of the Variable Compensation payable to the Executive must be approved by the CEO. The Variable Compensation target at 100% achievement shall be in accordance with Schedule “A” subject to the provisions of Section 7.
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ANNUAL VARIABLE COMPENSATION. In addition to the Executive’s Annual Base Salary, the Executive may be awarded an additional bonus (the “Variable Compensation”), which shall be based upon performance goals approved by the CEO (and the Compensation Committee, as may be required) from time to time and set forth in a separate document. Any changes respecting the amount or other terms of the Variable Compensation payable to the Executive must be approved by the CEO (and if required, the Board of Directors). The Variable Compensation target at 100% shall be in accordance with Schedule “A” subject to the provisions of Section 7.
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ANNUAL VARIABLE COMPENSATION. Employee is eligible for an annual regional sales performance incentive bonus of up to $300,000.00 per year based on sales-related objectives to be determined in the reasonable discretion of Company (the “Commission Bonus”) and subject to the applicable commissions plan. If the Commission Bonus is earned, it will be paid at the same time as the Annual Corporate Bonus which follows year-end financial reconciliations in Q1 of the following calendar year. For the 2019 year, the Commission Bonus will not be prorated.
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ANNUAL VARIABLE COMPENSATION. Executive will be paid a prorated portion of annual variable compensation for the year in which Termination Date occurs, based on projected results as of Termination Date; such amount will be payable in the next calendar year when such payments are normally made.
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ANNUAL VARIABLE COMPENSATION. Fielding shall be eligible for annual variable compensation for each full fiscal year during which he is employed. Such annual variable compensation shall be based on the pre-tax earnings of Foods to the extent such earnings exceed an applicable "base level" of earnings. Such "base level" shall be as set forth below, but in each year shall be subject to adjustment based on: (a) annual Capital Expenditures above or below the level of annual depreciation of Foods' assets (the adjustment shall provide Farmland a rate of return on such invested capital based on its assumed cost of capital - 14%); (b) significant events outside the contemplation of the Business Plan such as material acquisitions and other extraordinary events or circumstances; and (c) any other equitable factors as agreed to by the parties. The base level for FY 2001 (the "FY 2001 Base Level"), before adjustments, shall be the average annual pre-tax earnings of Farmland Foods for FY 1998, FY 1999 and FY 2000. The base level for FY 2002 (the "FY 2002 Base Level"), before adjustments, shall be the FY 2001 Base Level, as adjusted, plus $15 million. The base level for FY 2003 (the "FY 2003 Base Level"), before adjustments, shall be the FY 2002 Base Level, as adjusted, plus $15 million. The base level for FY 2004 (the "FY 2004 Base Level"), before adjustments, shall be the FY 2003 Base Level, as adjusted, plus $10 million. For each fiscal year, Fielding shall be eligible for an annual variable compensation payment equal to 10% of Foods' pre-tax earnings to the extent such earnings exceed the applicable Base Level, but subject to a cap (the "Earnings Cap") on the amount of such excess pre-tax earnings which shall be considered. (The applicable Earnings Cap on Foods' excess pre-tax earnings shall be as follows: FY 2001 - $15 million FY 2002 - $15 million FY 2003 - $10 million FY 2004 - $10 million Thus, in FY 2001, Fielding could earn up to $1.5 million in annual variable compensation ($15 million x 10%).(For example, if Foods pre-tax earnings in FY 2001 exceed the Base Level by $5.0 million, Fielding would be entitled to a variable compensation payment of $500,000.) To the extent that Foods' pre-tax earnings in any given year either exceeds the sum of the applicable Base Level plus the applicable Earnings Cap or falls below the applicable Base Level, a debit or credit balance will be recognized. In determining the following year's Annual Variable Compensation, said balance will be added to, or subtra...
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ANNUAL VARIABLE COMPENSATION. Executive shall be eligible to receive variable compensation annually with respect to each calendar year of employment with Company (the “Annual Variable Compensation”). Executive’s target Annual Variable Compensation shall be established in the Executive’s Commission Plan for the applicable calendar year and based upon the achievement of mutually agreed performance criteria set forth therein. The Annual Variable Compensation amount for any calendar year shall be subject to change at the Company’s discretion and upon written notice to Executive. The Annual Variable Compensation amount, if any, shall be paid no later than March 15th of the calendar year following the calendar year to which such amount relates (the “Payment Date”). Executive must be employed by Company on the Payment Date in order to be eligible to receive the Annual Variable Compensation.
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ANNUAL VARIABLE COMPENSATION. During the Employment Term, Executive shall be eligible to receive an annual cash bonus (the “Annual Bonus”) based on performance objectives and conditions established by the Company from time to time with a target amount equal to 100% of Executive’s Base Salary. The Annual Bonus payable for calendar year 2024, to the extent earned, shall be guaranteed at the target level, but pro-rated based on the Effective Date. Executive’s Annual Bonus for any year, to the extent earned, shall be paid as soon as practicable following certification by the Board (or its compensation committee) of Company performance for the applicable year, but no later than March 15th of the year following the year in respect of which the Annual Bonus was earned, subject to Executive’s continued employment through the end of the applicable performance year.
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ANNUAL VARIABLE COMPENSATION. The company will agree with the Employee on quarterly targets and goals that are agreed to at the beginning of each calendar year and subject to quarterly review and which may be based on sales of the Company’s products and/or services, orders, revenues, deferred revenue, profits, margin, procedures performed, number of units sold, or any other sales, revenue or profit-based metrics. Employee’s annual variable compensation opportunity may be expressed as a percentage of one or more of the foregoing metrics (with or without any threshold or maximum), in relation to increases in one or more of the foregoing metrics and/or as a bonus if a stated goal is achieved. If no agreement can be reached on objectives the employer shall decide as appears just to him. The respective written agreement in force on the objectives forms part of the contract of employment. If an employee’s employment is terminated during the calendar year the bonus payment is payable pro rata temporis. In the event of an unjustified termination of employment on the part of the employee or a dismissal without notice any bonus payment is forfeited. The bonus payment shall be reduced proportionally for times the employer is released from his obligation to pay remuneration, e.g. due to permanent disability or suspension of the employment relationship. As far as the employer effects deductions they shall be offset against bonus payment. For excess payments the employer is granted a contractual claim to repayment covering the amount overpaid.
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ANNUAL VARIABLE COMPENSATION. In addition to the Executive’s Annual Base Salary, the Executive may be awarded an additional bonus (the “Variable Compensation”), which shall be based upon performance goals approved by the Board of Directors (and the Compensation Committee, as may be required) from time to time. Any changes respecting the amount or other terms of the Variable Compensation payable to the Executive must be approved by the Board of Directors. As of the date of this Agreement, the Variable Compensation target is US$625,000 per annum, which shall be pro rata for the current fiscal period ending June 30, 2012.
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Related to ANNUAL VARIABLE COMPENSATION

  • Variable Compensation In addition to any interim award that the Company owes to the Executive under the Variable Compensation Plan (or any similar provisions in a successor to the Variable Compensation Plan), the Executive shall be paid a lump sum cash amount equal to 2.0 times the target annual award under the Variable Compensation Plan for the Executive’s job for the calendar year during which the Change in Control occurs. In order to be entitled to a payment pursuant to this Section 4(b), the Executive must have been a participant in the Company’s Variable Compensation Plan at some time during the calendar year in which the Change in Control occurred or the calendar year immediately preceding the calendar year in which the Change in Control occurred.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • 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.

  • Base Compensation The Bank agrees to pay the Employee during the ----------------- term of this Agreement a salary at the rate of $76,000 per annum, payable in cash not less frequently than monthly; provided, that the rate of such salary shall be reviewed by the Board of Directors of the Bank not less often than annually, and Employee shall be entitled to receive annually an increase at such percentage or in such an amount as the Board of Directors in its sole discretion may decide.

  • Annual Salary Executive's compensation shall consist of an annual base salary (the "Annual Salary") of one hundred fifty thousand dollars ($150,000), before all customary payroll deductions. The Annual Salary shall be reviewed, and shall be subject to change, by the Board of Directors of Employer (or the Compensation Committee thereof) at least annually while Executive is employed hereunder.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

  • Additional Compensation Notwithstanding anything in this Memorandum of Understanding to the contrary when in the judgment of the Board, it becomes necessary or desirable to utilize the services of County employees in capacities other than those for which they are regularly employed, the Board may authorize and, if appropriate, fix an additional rate of compensation for such employees.

  • Annual Vacation 9.1 An employee who, at the beginning of the calendar year, is not qualified under paragraph 9.2 hereof, shall be allowed one working day’s vacation with pay for each 25 days’ cumulative compensated service, or major portion thereof, during the preceding calendar year, with a maximum of 10 working days until qualifying for further vacation under paragraph 9.2. 9.2 Subject to the provision of Note 1 below, employees who, at the beginning of the calendar year have maintained a continuous employment relationship for at least 3 years and have completed at least 750 days of cumulative compensated service, shall have their vacation schedule on the basis of one working day’s vacation with pay for each 16 2/3 days of cumulative compensated service, or major portion thereof, during the preceding calendar year with a maximum of 15 working days; in subsequent years, they will continue vacation entitlement on the foregoing basis until qualifying for additional vacation under paragraph 9.3. NOTE 1: Employees covered by paragraph 9.2 will be entitled to vacation on the basis outlined therein if on fourth or subsequent service anniversary date they achieve 1,000 days of cumulative compensated service; otherwise their vacation entitlement will be calculated as set out in paragraph 9.1. Any vacation granted for which employees do not subsequently qualify will be deducted from their vacation entitlement in the next calendar year. If such employees leave the service for any reason prior to their next vacation the adjustment will be made at time of leaving. 9.3 Subject to the provisions of Note 2 below, employees who, at the beginning of the calendar year, have maintained a continuous employment relationship for at least 9 years and have completed at least 2,500 days of cumulative compensated service, shall have their vacation scheduled on the basis of one working days’ vacation with pay for each 12 1/2 days of cumulative compensated service, or major portion thereof, during the preceding calendar year, with a maximum of 20 working days; in subsequent years, they will continue vacation entitlement on the foregoing basis until qualifying for additional vacation under paragraph 9.4. NOTE 2: Employees covered by sub-paragraph 9.3 will be entitled to vacation on the basis outlined therein if on their tenth or subsequent service anniversary that they achieve 2,750 days of cumulative compensated service; otherwise their vacation entitlement will be calculated as set out in paragraph 9.2. Any vacation granted for which employees do not subsequently qualify will be deducted from their vacation entitlement in the next calendar year. If such employees leave the service for any reason prior to their next vacation, the adjustment will be made at time of leaving. (a) Subject to the provisions of Note 2 below employees who, at the beginning of the calendar year, have, maintained a continuous employment relationship for at least 9 years and have completed at least 2,250 days of cumulative compensated service, shall have their vacation scheduled on the basis of one working day’s vacation with pay for each 12 1/2 days of cumulative compensated service, or major portion thereof, during the preceding calendar year, with a maximum of 20 working days; in subsequent years, they will continue vacation entitlement on the foregoing basis until qualifying for additional vacation under paragraph NOTE 2: Employees covered by sub-paragraph 9.3(a) will be entitled to vacation on the basis outlined therein if on their tenth of subsequent service anniversary date they achieve 2,500 days of cumulative compensated service; otherwise their vacation entitlement will be calculated as set out in paragraph 9.2. Any vacation granted for which employees do not subsequently qualify will be deducted from their vacation entitlement in the next calendar year. If such employees leave the service for any reason prior to their next vacation, the adjustment will be made at time of leaving. 9.4 Subject to the provisions of Note 3 below employees who, at the beginning of the calendar year, have maintained a continuous employment relationship for at least 19 years and have completed at least 4,750 days of cumulative compensated service, shall have their vacation scheduled on the basis of one working day’s vacation with pay for each 10 days of cumulative compensated service or major portion thereof, during the preceding calendar year with a maximum of 25 working days; in subsequent years, they will continue vacation entitlement on the foregoing basis until qualifying for additional vacation under paragraph 9.5. NOTE 3: Employees covered by paragraph 9.4 will be entitled to vacation on the basis outlined therein of in their twentieth or subsequent service anniversary date they achieve 5,000 days if cumulative compensated service; otherwise, their vacation entitlement will be calculated as set out in paragraph 9.3. Any vacation granted for which employees do not subsequently qualify will be deducted from their vacation entitlement in the next calendar year. If such employees leave the service for any reason prior to their next vacation, the adjustment will be made at time of leaving. 9.5 Subject to the provisions of Note 4 below, employees who at the beginning of the calendar year have maintained a continuous employment relationship for at least 28 years and have completed at least 7,000 days of cumulative compensated service shall have their vacation scheduled on the basis of one working day’s vacation with pay for each 8 1/2 days of cumulative compensated service, or major portion thereof, during the preceding calendar year, with maximum of 30 working days. NOTE 4: Employees covered by paragraph 9 5 will be entitled to vacation on the basis outlined therein if on their twenty-ninth or subsequent service anniversary date they achieve 7,250 days of cumulative compensated service; otherwise their vacation entitlement which employees do not subsequently qualify will be deducted from their vacation entitlement in the next calendar year. If such employees leave the service for any reason prior to their next vacation, the adjustment will be made at time of leaving. (a) Scheduling an employee for five weeks vacation with the employee being paid for the sixth week vacation at pro rata rates; or (b) Splitting the vacation on the basis of five weeks and one week.

  • Final Compensation Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS prior to January 15, 2011, is based on the highest average monthly pay rate during twelve (12) consecutive months of employment. Final Compensation for an employee, who is employed by the State for the first time and becomes a member of CalPERS on or after January 15, 2011, is based on the highest average monthly pay rate during thirty-six (36) consecutive months of employment.

  • Salary Compensation As salary compensation for Employee's services hereunder and all the rights granted hereunder by Employee to the Company, the Company shall pay Employee a gross salary of not less than $175,000 during the term of this Agreement. Employee's salary shall be payable in bi-weekly increments in accordance with the Company's payroll practices for salaried employees, upon the condition that Employee fully and faithfully performs Employee's services hereunder in accordance with the terms and conditions of this Agreement. The Company shall deduct and withhold from the compensation payable to Employee hereunder any and all amounts required to be deducted or withheld by the Company under the provisions of any statute, regulation, ordinance, or order and any and all amendments hereinafter enacted requiring the withholding or deducting from compensation payable to employees.

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