Base Bonus. (i) Subject to Section 6(e), during the Term, Executive shall be eligible to receive an annual cash bonus (the “Base Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing after December 31, 2004 and ending during the Term. (ii) The annual Base Bonus shall be earned and payable quarterly based on the attainment of EBITDAR-based targets determined in the sole discretion of the Committee for each such quarter following consultation with senior management. If Executive fails to achieve the EBITDAR-based targets for one or more fiscal quarters in a Fiscal Year, he shall be eligible to earn the missed quarterly Base Bonus payment on account of achieving additional targets in later quarters of the same Fiscal Year or targets in respect of the entire Fiscal Year, in each case as established by the Committee in its sole discretion following consultation with senior management. (iii) The target annual Base Bonus for the 2005 Fiscal Year shall be $0. (iv) Commencing with the 2006 Fiscal Year and for each Fiscal Year of the Term during which Executive is employed thereafter, the target annual Base Bonus shall increase automatically by at least four percent (4%) of the sum of (x) Executive’s Base Salary for the immediately preceding Fiscal Year plus (y) the Base Bonus paid to Executive with respect to the immediately preceding Fiscal Year. In addition, commencing with the 2006 Fiscal Year, if the Company sustains for at least six (6) months annualized EBITDAR levels at the threshold levels described below, the target annual Base Bonus shall be cumulatively increased by at least the corresponding amount described in the following table: $ 600,000,000 $ 50,000 $ 700,000,000 $ 100,000 $ 800,000,000 $ 150,000 $ 900,000,000 $ 200,000 $ 1,000,000,000 $ 250,000
Appears in 2 contracts
Samples: Employment Agreement (Las Vegas Sands Corp), Employment Agreement (Las Vegas Sands Corp)
Base Bonus. (i) Subject to Section 6(e), during the Term, Executive shall be eligible to receive an annual cash bonus (the “Base Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing after December 31, 2004 and ending during the Term.
(ii) The annual Base Bonus shall be earned and payable quarterly based on the attainment of EBITDAR-based targets determined in the sole discretion of the Committee for each such quarter following consultation with senior management. If Executive fails to achieve the EBITDAR-based targets for one or more fiscal quarters in a Fiscal Year, he shall be eligible to earn the missed quarterly Base Bonus payment on account of achieving additional targets in later quarters of the same Fiscal Year or targets in respect of the entire Fiscal Year, in each case as established by the Committee in its sole discretion following consultation with senior management.
(iii) The target annual Base Bonus for the 2005 Fiscal Year shall be $050,000.
(iv) Commencing with the 2006 Fiscal Year and for each Fiscal Year of the Term during which Executive is employed thereafter, the target annual Base Bonus shall increase automatically by at least four percent (4%) of the sum of (x) Executive’s Base Salary for the immediately preceding Fiscal Year plus (y) the Base Bonus paid to Executive with respect to the immediately preceding Fiscal Year. In addition, commencing with the 2006 Fiscal Year, if the Company sustains for at least six (6) months annualized EBITDAR levels at the threshold levels described below, the target annual Base Bonus shall be cumulatively increased by at least the corresponding amount described in the following table: $ 600,000,000 $ 50,000 130,000 $ 700,000,000 $ 100,000 90,000 $ 800,000,000 $ 150,000 90,000 $ 900,000,000 $ 200,000 90,000 $ 1,000,000,000 $ 250,00090,000
(v) Notwithstanding any of the foregoing to the contrary, in the event that the Effective Date first occurs (x) after January 1, 2005, then the Committee shall determine, in its sole discretion, the appropriate period (i.e., all or a portion of the 2005 Fiscal Year) in respect of which Executive shall have the right to receive the Base Bonus for the 2005 Fiscal Year and (y) prior to January 1, 2005, then the bonus, if any, payable for the 2004 Fiscal Year shall be determined pursuant to the terms of the Prior Employment Agreement.
Appears in 1 contract
Base Bonus. (i) Subject to Section 6(e), during the Term, Executive shall be eligible to receive an annual cash bonus (the “Base Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing after December 31, 2004 and ending during the Term.
(ii) The annual Base Bonus shall be earned and payable quarterly based on the attainment of EBITDAR-based targets determined in the sole discretion of the Committee for each such quarter following consultation with senior management. If Executive fails to achieve the EBITDAR-based targets for one or more fiscal quarters in a Fiscal Year, he shall be eligible to earn the missed quarterly Base Bonus payment on account of achieving additional targets in later quarters of the same Fiscal Year or targets in respect of the entire Fiscal Year, in each case as established by the Committee in its sole discretion following consultation with senior management.
(iii) The target annual Base Bonus for the 2005 Fiscal Year shall be $0.
(iv) Commencing with the 2006 Fiscal Year and for each Fiscal Year of the Term during which Executive is employed thereafter, the target annual Base Bonus shall increase automatically by at least four percent (4%) of the sum of (x) Executive’s Base Salary for the immediately preceding Fiscal Year plus (y) the Base Bonus paid to Executive with respect to the immediately preceding Fiscal Year. In addition, commencing with the 2006 Fiscal Year, if the Company sustains for at least six (6) months annualized EBITDAR levels at the threshold levels described below, the target annual Base Bonus shall be cumulatively increased by at least the corresponding amount described in the following table: $ 600,000,000 $ 50,000 80,000 $ 700,000,000 $ 100,000 80,000 $ 800,000,000 $ 150,000 80,000 $ 900,000,000 $ 200,000 80,000 $ 1,000,000,000 $ 250,00080,000
(v) Notwithstanding any of the foregoing to the contrary, in the event that the Effective Date first occurs (x) after January 1, 2005, then the Committee shall determine, in its sole discretion, the appropriate period (i.e., all or a portion of the 2005 Fiscal Year) in respect of which Executive shall have the right to receive the Base Bonus for the 2005 Fiscal Year and (y) prior to January 1, 2005, then the bonus, if any, payable for the 2004 Fiscal Year shall be determined pursuant to the terms of the Prior Employment Agreement.
Appears in 1 contract
Base Bonus. (i) Subject to Section 6(e), during the Term, Executive shall be eligible to receive an annual cash bonus (the “Base Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing after December 31, 2004 and ending during the Term.
(ii) The annual Base Bonus shall be earned and payable quarterly based on the attainment of EBITDAR-based targets determined in the sole discretion of the Committee for each such quarter following consultation with senior management. If Executive fails to achieve the EBITDAR-based targets for one or more fiscal quarters in a Fiscal Year, he shall be eligible to earn the missed quarterly Base Bonus payment on account of achieving additional targets in later quarters of the same Fiscal Year or targets in respect of the entire Fiscal Year, in each case as established by the Committee in its sole discretion following consultation with senior management.
(iii) The target annual Base Bonus for the 2005 Fiscal Year shall be $0300,000.
(iv) Commencing with the 2006 Fiscal Year and for each Fiscal Year of the Term during which Executive is employed thereafter, the target annual Base Bonus shall increase automatically by at least four percent (4%) of the sum of (x) Executive’s Base Salary for the immediately preceding Fiscal Year plus (y) the Base Bonus paid to Executive with respect to the immediately preceding Fiscal Year. In addition, commencing with the 2006 Fiscal Year, if the Company sustains for at least six (6) months annualized EBITDAR levels at the threshold levels described below, the target annual Base Bonus shall be cumulatively increased by at least the corresponding amount described in the following table: $ 600,000,000 $ 50,000 150,000 $ 700,000,000 $ 100,000 120,000 $ 800,000,000 $ 150,000 110,000 $ 900,000,000 $ 200,000 110,000 $ 1,000,000,000 $ 250,000110,000
(v) Notwithstanding any of the foregoing to the contrary, in the event that the Effective Date first occurs (x) after January 1, 2005, then the Committee shall determine, in its sole discretion, the appropriate period (i.e., all or a portion of the 2005 Fiscal Year) in respect of which Executive shall have the right to receive the Base Bonus for the 2005 Fiscal Year and (y) prior to January 1, 2005, then the bonus, if any, payable for the 2004 Fiscal Year shall be determined pursuant to the terms of the Prior Employment Agreement.
Appears in 1 contract
Base Bonus. (i) Subject to Section 6(e), during the Term, Executive shall be eligible to receive an annual cash bonus (the “Base Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing after December 31, 2004 and ending during the Term.
(ii) The annual Base Bonus shall be earned and payable quarterly based on the attainment of EBITDAR-based targets determined in the sole discretion of the Committee for each such quarter following consultation with senior management. If Executive fails to achieve the EBITDAR-based targets for one or more fiscal quarters in a Fiscal Year, he shall be eligible to earn the missed quarterly Base Bonus payment on account of achieving additional targets in later quarters of the same Fiscal Year or targets in respect of the entire Fiscal Year, in each case as established by the Committee in its sole discretion following consultation with senior management.
(iii) The target annual Base Bonus for the 2005 Fiscal Year shall be $0500,000.
(iv) Commencing with the 2006 Fiscal Year and for each Fiscal Year of the Term during which Executive is employed thereafter, the target annual Base Bonus shall increase automatically by at least four percent (4%) of the sum of (x) Executive’s Base Salary for the immediately preceding Fiscal Year plus (y) the Base Bonus paid to Executive with respect to the immediately preceding Fiscal Year. In addition, commencing with the 2006 Fiscal Year, if the Company sustains for at least six (6) months annualized EBITDAR levels at the threshold levels described below, the target annual Base Bonus shall be cumulatively increased by at least the corresponding amount described in the following table: $ 600,000,000 $ 50,000 180,000 $ 700,000,000 $ 100,000 130,000 $ 800,000,000 $ 150,000 130,000 $ 900,000,000 $ 200,000 130,000 $ 1,000,000,000 $ 250,000130,000
(v) Notwithstanding any of the foregoing to the contrary, in the event that the Effective Date first occurs after January 1, 2005, then the Committee shall determine, in its sole discretion, the appropriate period (i.e., all or a portion of the 2005 Fiscal Year) in respect of which Executive shall have the right to receive the Base Bonus for the 2005 Fiscal Year.
Appears in 1 contract
Base Bonus. (i) Subject to Section 6(e), during the Term, Executive shall be eligible to receive an annual cash bonus (the “Base Bonus”) under the Executive Cash Incentive Plan in respect of each fiscal year of the Company (a “Fiscal Year” which, as of the date hereof, is the period January 1 through December 31) commencing after December 31, 2004 and ending during the Term.
(ii) The annual Base Bonus shall be earned and payable quarterly based on the attainment of EBITDAR-based targets determined in the sole discretion of the Committee for each such quarter following consultation with senior management. If Executive fails to achieve the EBITDAR-based targets for one or more fiscal quarters in a Fiscal Year, he shall be eligible to earn the missed quarterly Base Bonus payment on account of achieving additional targets in later quarters of the same Fiscal Year or targets in respect of the entire Fiscal Year, in each case as established by the Committee in its sole discretion following consultation with senior management.
(iii) The target annual Base Bonus for the 2005 Fiscal Year shall be $0.
(iv) Commencing with the 2006 Fiscal Year and for each Fiscal Year of the Term during which Executive is employed thereafter, the target annual Base Bonus shall increase automatically by at least four percent (4%) of the sum of (x) Executive’s Base Salary for the immediately preceding Fiscal Year plus (y) the Base Bonus paid to Executive with respect to the immediately preceding Fiscal Year. In addition, commencing with the 2006 Fiscal Year, if the Company sustains for at least six (6) months annualized EBITDAR levels at the threshold levels described below, the target annual Base Bonus shall be cumulatively increased by at least the corresponding amount described in the following table: $ $600,000,000 $ 50,000 $ $700,000,000 $ 100,000 $ $800,000,000 $ 150,000 $ $900,000,000 $ 200,000 $ $1,000,000,000 $ 250,000
Appears in 1 contract