Bonus and Equity Incentive Compensation Sample Clauses

Bonus and Equity Incentive Compensation. For each calendar year during the term of this Agreement, the Executive shall be eligible for a cash bonus award (the “Annual Cash Bonus”) with a target amount of one hundred percent (100%) of his then current base salary pursuant to the Company’s then current Management Incentive Program (“MIP”). As currently constituted the MIP is based upon (i) the Company’s satisfaction of operating objectives specified by the Company’s Board of Directors each year in its sole discretion, and (ii) individual members of management’s satisfaction of certain individual operating objectives based upon their area of responsibility as specified by the Company’s Board of Directors in their sole discretion. The Executive acknowledges that Company reserves the right to change the structure of the MIP from time to time, provided that any change will not affect the Executive’s ability to receive an Annual Cash Bonus of up to a target amount of one hundred percent (100%) of the Executive base salary. The Executive shall be paid his Annual Cash Bonus on or about March 1st of the calendar year following the year to which such bonus relates, and in all events on or before March 15th of such year. The parties acknowledge that the determination of the Annual Cash Bonus for the year in which the Executive’s employment terminates (and possibly for the prior year) shall not be known on the date the Executive’s employment terminates, and, if any, shall be paid by Company to the Executive not more than thirty (30) days after the determination thereof, but in all events on or before March 15th of the calendar year following the calendar year of termination. The Executive acknowledges and agrees that as required under law or Company policy, bonus and equity incentive compensation to the extent received based on erroneous information, is subject to recoupment for a three year period in the event of an accounting restatement due to material noncompliance by the Company with any financial reporting requirement under the federal securities laws.” 5. The following sentence is added to the end of Section 2(D) of the Employment Agreement: “All reimbursements under this Section 2(D) shall be made as soon as practicable following submission of a reimbursement request, but no later than the end of the year following the year during which the underlying expense was incurred.” 6. A new section 2(G) is hereby added to the Employment Agreement, to read in its entirety as follows:
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Bonus and Equity Incentive Compensation. Based on your service with the Company, you will be eligible to receive a bonus under the 2005 Executive Bonus Plan, based on full year business performance and prorated according to the number of days you worked for the Company in the 2005 plan year, and payable at the time such bonuses are paid to participants generally. Restrictions lapse as of December 31, 2005 on 8,333 shares of your April 11, 2005 restricted stock award subject to confirmation by the Compensation Committee of the Company’s Board of Directors that the performance criteria have been met, and you will be entitled to those shares in accordance with the terms and conditions contained in your 2005 Restricted Stock Award Agreement. Other restricted stock shares granted to you by the Company are not vested as of your Separation Date and will be forfeited.
Sample 1
Bonus and Equity Incentive Compensation. Subject to the provisions of this Agreement, you will be eligible to receive a bonus under the 2006 bonus plan, based on full year business performance and payable at the time such bonuses are paid to participants generally. Also, subject to the provisions of this Agreement, any restricted stock granted to you by the Company that is unvested as of the Effective Date but would have vested on or before January 31, 2007 will vest as of the Effective Date. In addition, subject to the provisions of this Agreement, with respect to vested stock options, you will have an extended exercise period equal to the earlier of the expiration of the options or December 31, 2007. Any other unvested stock options, restricted stock or restricted stock units granted to you by the Company will be forfeited.
Sample 1
Bonus and Equity Incentive Compensation. Subject to the provisions of this Agreement, you will be eligible to receive a bonus under the 2005 Executive Bonus Plan, based on full year business performance and prorated according to the number of days you worked for SPX in the 2005 plan year, and payable at the time such bonuses are paid to participants generally. Also, subject to the provisions of this Agreement, any unvested stock options, restricted stock and restricted stock units granted to you by the Company that would have vested on or before January 31, 2006 will vest as of your employment termination date, and you will have one (1) year in which to exercise your vested options. Any other unvested stock options, restricted stock and restricted stock units granted to you by the Company will be forfeited.
Sample 1
Bonus and Equity Incentive Compensation. (i) As soon as practicable following Executive’s commencement of employment with the Company, she shall be paid a one-time, taxable cash bonus of $425,000 (the “Sign On Bonus”). One Hundred percent (100%) of the after-tax portion of the Sign On Bonus (net of income and employment tax withholding) shall be subject to repayment if the Executive gives notice of voluntary resignation (pursuant to Section 5(A) below) or is terminated by the Company with Cause (as defined in the Vitamin Shoppe, Inc. Executive Severance Pay Policy, as may be amended from time to time, the “ESPP”) before the second anniversary of the Effective Date. Repayment shall be made within thirty (30) business days of the Executive’s last date of employment with the Company. This Sign On Bonus is being granted to help with Executive’s transition of employment from her current employer to VSI and is intended to cover potential costs, including, without limitation, closing costs on sale of current home and repayment of a sign-on bonus with her current employer. No additional payments will be made to Executive under any other Company policy or plan, unless specifically provided for in this Agreement. To the extent permitted by law, the Company may offset any repayment owed by the Executive to the Company pursuant to this Section against any amounts payable to the Executive by the Company at the time that any such repayment is due and owing, pursuant to the Relocation and Repayment Agreement annexed hereto as Exhibit A. If the Executive does not sign the Relocation and Repayment Agreement, she will not be entitled to receive the Sign On Bonus. The Sign On Bonus will not be included as earnings for calculation of the annual MIP award (defined below) or any other benefit or compensation plan. (ii) For each fiscal year during the Term of this Agreement, the Executive shall be eligible for a cash bonus award (the “Annual Cash Bonus”) with a target amount of one hundred percent (100%) of the Base Salary paid to the Executive for the applicable fiscal year pursuant to the Company’s then current Management Incentive Program (“MIP”). Executive’s Annual Cash Bonus for 2018 shall be calculated under the MIP based on the Base Salary paid to her for the portion of the calendar year from the Effective Date through December 29, 2018. The Executive acknowledges that the Parent’s Board of Directors reserves the right to change the structure of the MIP from time to time, provided that no reduction may be made t...
Sample 1

Related to Bonus and Equity Incentive Compensation

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • 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.

  • Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be thirty-five percent (35%) of his Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • 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.

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