Common use of Base Bonus Clause in Contracts

Base Bonus. The Company shall pay the Employee a bonus with respect to each fiscal year or portion thereof during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 25% of so much of his Base Salary as was paid with respect to such year. (ii) If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 37.5% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 50% of so much of his Base Salary as was paid with respect to such year.

Appears in 2 contracts

Samples: Employment Agreement (MBW Foods Inc), Employment Agreement (Aurora Foods Inc /Md/)

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Base Bonus. The For so long as the Employee is the C.F.O. of the Company, the Company shall pay the Employee a bonus with respect to each fiscal year or portion thereof during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 2520% of so much of his Base Salary as was paid with respect to such year. (ii) If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 37.530% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 5040% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Samples: Employment Agreement (Aurora Foods Inc)

Base Bonus. The Company shall pay the Employee a bonus with respect to each fiscal year or portion thereof during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 2520% of so much of his Base Salary as was paid with respect to such year. (ii) If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 37.530% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 5040% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Samples: Employment Agreement (MBW Foods Inc)

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Base Bonus. The Company shall pay the Employee a bonus with respect to each fiscal year (or a pro rata bonus for any portion thereof thereof) during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 25% of so much of his Base Salary as was paid with respect to such year. (ii) If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 37.5% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 50% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Samples: Employment Agreement (Aurora Foods Inc /Md/)

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