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.
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.
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.
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, not later than two and one half months after the end of the year in which the Termination Date occurs.
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.
ANNUAL VARIABLE COMPENSATION. The Executive shall be eligible for target annual variable compensation in the amount of $1,600,000, subject to possible increase in the discretion of the Compensation Committee based on any upward adjustment in the Executive’s Base Salary from time to time (such target annual variable compensation, as in effect from time to time, the “Target Annual Bonus”). The actual annual variable compensation earned for a year will be between zero percent (0%) and two hundred percent (200%) of the Target Annual Bonus, depending on the level of achievement of applicable goals established by the Compensation Committee, which may be based on a combination of individual and Company related performance objectives, each of which shall be determined in good faith by the Compensation Committee after consultation with the Executive. Any annual variable compensation determined by the Compensation Committee to have been earned by the Executive will be paid 50% in cash and 50% in the form of time-based restricted stock units (“RSUs”) and/or restricted shares awarded under the Company’s 2020 Equity Compensation Plan (or any successor plan) (the “Company Equity Plan”); provided, however, that the Compensation Committee reserves discretion to change such allocation of cash and RSUs/restricted shares from time to time. The number of RSUs and/or restricted shares will be based on the “Fair Market Value” (as defined under the Company Equity Plan) of the Company’s Class B common stock (“Class B Shares”) on the date the RSUs and/or restricted shares are awarded. RSUs and/or restricted shares will vest monthly over a period of three years from the date of each award.
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.
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...
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.
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.