Bonus and Incentives. 5.1 The Employee will participate in the Company’s bonus scheme, terms (including participation) and objectives of which are at any time under the sole discretion of the Company.
5.2 The Employee may be eligible for consideration of an annual bonus of up to six months base salary.
5.3 Such bonus is interpreted and deemed to be inclusive of holiday allowance, statutory payable bonus or profit sharing or other statutory benefits. At payment, holiday allowance, statutory payable bonus or profit sharing or other statutory benefits will be deducted from the bonus amount.
5.4 The Employee may participate in the Company’s LTIP, terms and objectives of which are at any time under the sole discretion of the Company.
5.5 If at any time after any bonus, option or other award is paid to the Employee the Company or Group is required to restate its accounts to a material extent or the Company becomes aware of any material malfeasance or material wrongdoing on the Employee’s part, then the Company shall be entitled to recalculate the bonus that it would have awarded in each financial year, had these facts been known at the time the award was granted. The Employee shall be liable for and, if so required by the Company to repay on demand the difference between such recalculated bonuses and the aggregate value of the Awards actually granted to the Employee.
Bonus and Incentives. Executive shall continue to participate in each applicable bonus and incentive plan of the Company during the Short-Term Disability Period. Executive will receive bonus and incentive payments, if any, in accordance with the normal processes and timing for payment of such amounts to executives who are actively at work.
Bonus and Incentives. 7.1 In addition to the Executive's Remuneration Package and other benefits stipulated in this Agreement, the Executive shall be entitled to the bonuses and incentives set out in this clause, subject to the conditions set out herein.
7.2 The Executive shall be entitled to bonuses to be determined with reference to targets set in terms of key performance indicators as agreed between the Executive and the Group Remuneration Committee.
7.2.1 Bonuses shall be calculated and be payable in respect of 4 (four) bonus cycles. The first cycle shall be deemed to have commenced on 1 January 2004 and shall terminate on 30 June 2004. The second bonus cycle shall commence on 1 July 2004 and shall terminate on 31 December 2004.xxThe third bonus cycle shall commence on 1 January 2005 and terminate on 30 June 2005.xxThe fourth bonus cycle shall commence on 1 July 2005 and terminate on 30 November 2005. Should the Executive meet all the targets set in terms of the key performance indicators agreed to in respect of a specific bonus cycle he shall be entitled to a bonus of 40 (forty) per cent of his Remuneration Package. Should the Executive not fully meet all the targets set in terms of the key performance indicators as agreed, he shall be entitled to such lesser bonus as determined by the Group Remuneration Committee. This bonus will be determined with reference to the extent that the targets have been met.
7.2.2 The bonuses referred in CLAUSE 7.2.1 will be paid to the Executive by the Company within 30 (thirty) business days of the end of each bonus cycle.
7.2.3 The bonuses referred to in CLAUSE 7.2.1 will be paid in the following manner:
7.2.3.1 the Company shall pay to the Executive the amount due to the Executive in terms of CLAUSE 7.2.1 less 25% (twenty five per cent) of that amount;
7.2.3.2 an amount equivalent to the amount deducted in terms of CLAUSE 7.
2.3.1 shall be retained by the Company for the benefit of the Executive (excluding interest);
7.2.3.3 the Executive shall, provided that the Executive meets the performance criteria determined by the Group Remuneration Committee and accordingly qualifies for a bonus during the next bonus cycle, be entitled to receive payment of the amount retained by the Company during the previous bonus cycle.
7.2.4 Notwithstanding the above, if this Agreement is not extended or a further agreement is not entered into as envisaged in CLAUSE 3.3, any bonus payable in respect of the final bonus cycle shall be payable in full within 30 (...
Bonus and Incentives. Executive shall receive an annual bonus in -------------------- accordance with a Company Bonus Plan adopted by the Compensation Committee of the Board, then in place at the time if any. Executive will be eligible to participate in any stock option, stock grant or other incentive compensation plan adopted by the Board in place at the time if any. Eligibility in no way creates an obligation on the part of the Company to issue options, grants or other incentive compensation to the Executive, which shall be in the sole and absolute discretion of the Compensation Committee of the Board.
Bonus and Incentives. 7.1 In addition to the Remuneration Package and other benefits stipulated in this Agreement, the Executive shall be eligible for the bonuses and incentives set out in this clause subject to the conditions set out herein.
7.1.1 The Executive shall be entitled to bonuses to be determined with reference to targets set in terms of key performance indicators as agreed between the Executive and the Group Remuneration Committee.
7.1.2 Bonuses shall be calculated and be payable in respect of 4 (four) bonus cycles. The first cycle shall be deemed to have commenced on 1 January 2004 and shall terminate on 30 June 2004. The second bonus cycle shall
Bonus and Incentives. Executive shall be eligible to receive annual bonuses, long term incentives and such other elements of compensation (whether in cash or equity) as determined by and at the discretion of the Board or the Compensation Committee.
Bonus and Incentives. In payment of Executive's prorata bonus for the 2002 fiscal year and his bonus for the Separation Period, Executive shall receive a lump sum payment of $231,425.79 (subject to withholding of all applicable taxes) on the Separation Date.
Bonus and Incentives. 4.1. The Executive shall be eligible for an annual bonus at a target level of 67% of gross annual base salary. For the first year of his employment, a bonus of $318,250, or 67% of gross annual base salary is guaranteed (hereafter: the "initial guaranteed bonus"). The first portion of this initial guaranteed bonus over the period from entering into employment of the Company through December 31, 2000 will be payable in March 2001 and shall be at least $132,604. The remainder of the initial guaranteed bonus ($185,646, the bonus for the period from January 1, 2001 through July 31, 2001) will be included in the bonus over the year 2001, which bonus will be payable in March 2002. For the second and third years of the Executive's employment, a bonus of $225,000 per year is guaranteed (hereafter: the "secondary guaranteed bonus") so long as the Executive remains employed and in his position performing his duties through the applicable bonus period described below. The first portion of this secondary guaranteed bonus over the period from August 1, 2001 through December 31, 2001 will be included in the bonus over the year 2001, which bonus will be payable in March 2002 and shall be at least $93,750. Thus, combining the initial guaranteed bonus and secondary guaranteed bonus, the bonus over the year 2001 will be no less than $279,396. The second portion of this secondary guaranteed bonus (the bonus for the year 2002) will be payable in March 2003, and shall be at least $225,000. The final portion of this secondary guaranteed bonus ($131,250, the bonus for the period from January 1, 2003 through July 31, 2003) will be included in the bonus over the year 2003, which bonus will be payable in March 2004. For years after 2003 any bonuses over a particular calendar year will be paid in March of the subsequent year. The annual bonus target is 67% of annual gross base salary but can range from 0 - 134% of the then applicable annual gross base salary depending on performance, except for the first year of employment (during which it can range between 67% - 134% of the applicable gross annual base salary: $475,000) and the second and third years of employment (during which it can range between $225,000 and 134% of the applicable gross annual
Bonus and Incentives. 5.1 The Employee will participate in FREYR's bonus scheme, which terms (including participation) and objectives are at any time under the sole discretion of FREYR.
5.2 The Employee may be eligible for consideration of an annual bonus of up to one hundred percent (100 %) of yearly base salary.
5.3 Such bonus is interpreted and deemed to be inclusive of statutory payable bonus or profit sharing or other statutory benefits. At payment, statutory payable bonus or profit sharing or other statutory benefits will be deducted from the bonus amount.
5.4 The Employee may further participate in FREYR's LTIP program, which terms and objectives are at any time under the sole discretion of FREYR. The Employee will be granted six hundred thousand (600,000) options per annum for the years 2024 and 2025, and two-hundred-and-eighteen-thousand, six-hundred-and-thirty (218,630) for 2023 as per the LTIP program. The 2023 options will be granted on the Options Grant Date, and the 2024 and 2025 options will be granted as part of the Company's main grant (which is typically made in Q2) of the corresponding year. The exercised price ("strike price") shall be the fair market value on the grant date calculated in accordance with the terms of the LTIP program. These options shall vest in one third (1/3) tranches over three (3) years on the applicable anniversary date of the respective grant date and must all be exercised within five (5) years of the same grant date. If, during the twelve (12) months immediately following the occurrence of a Change in Control (as defined in the LTIP program), the Employee experiences a termination of employment under circumstances which would entitle him to contractual severance indemnity under Section 16.4 of this Agreement, all then-granted but unvested options will vest and be cancelled in exchange for a cash payment equal to the aggregate spread (if any) with respect to any such options.
5.5 In case of termination without notice in accordance with Section 16.3, any outstanding options (including any vested portion thereof) held by the Employee shall immediately terminate in their entirety. For the avoidance of doubt, under the LTIP program termination «for cause» shall for the Employee have the same meaning as termination without notice in accordance with Section 16.3.
5.6 The options shall except where otherwise specified herein, be governed the terms of the LTIP program attached hereto as Annex 1. It is understood and agreed that the above terms...
Bonus and Incentives. In addition to the wages contained in this clause, employees will also be eligible to receive a range of bonuses and incentives provided by the Employer at its discretion.
