Bonus: Annual Target Bonus; Buyout Bonus Sample Clauses

Bonus: Annual Target Bonus; Buyout Bonus. During the Term, the Executive shall be eligible to earn annual target bonuses for each fiscal year during the Term (collectively the “Annual Bonus”) comprised of a cash portion and a portion payable in shares of Common Stock of the Company as follows: $50 million or more but less than $75 million $ 100,000 $ 150,000 $75 million or more but less than $100 million $ 150,000 $ 300,000 $100 million or more but less than $125 million $ 250,000 $ 500,000 $125 million or more $ 350,000 $ 750,000 Adjusted EBITDA (3) 15% or more but less than 20% $ 25,000 $ 50,000 20% or more but less than 30% $ 50,000 $ 75,000 30% or more $ 100,000 $ 150,000 (1) As defined by United States generally accepted accounting principles (“U.S. GAAP”) and based on audited financials of the Company. For the first year, the revenue will be annualized. (2) Based on the closing price on December 31 of each year. (3) EBITDA defined as Earnings Before Stock-Based Compensation, Interest, Taxes, Depreciation, Amortization, and other non-cash items, as applicable, as a percent of Gross Revenues. Company sale with gross consideration: $ 75,000,000 $ 100,000,000 2.5 % $ 100,000,000 $ 125,000,000 3.5 % $ 125,000,000 4.5 % Any Buyout Bonus shall be paid to the Executive upon the closing of the Company Sale. The Annual Target Bonus and the Buyout Bonus are collectively referred to as the “Bonuses”). The amount of the Bonuses may be adjusted upward, but not downward, at the discretion of the Board for each fiscal year. The Annual Target Bonus will be paid no later than sixty (60) days following the fiscal year for which the Annual Target Bonus is earned or within five (5) business days following the completion of the audited financial statements of the Company for such year, whichever first occurs. In the event Executive is retained by the Company for less than the full fiscal year for which an Annual Target Bonus is earned pursuant to this Section 5(b), except as otherwise provided herein, the Executive shall be entitled to receive a pro-rated Annual Target Bonus for such year based on the number of days Executive was retained by the Company during such year divided by 365.
Sample 1
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Bonus: Annual Target Bonus; Buyout Bonus. During the Term, the Executive shall be eligible to earn annual target bonuses for each fiscal year during the Term (collectively the “Annual Bonus”) comprised of a cash portion and a portion payable in shares of Common Stock of the Company as follows: (1) Bonus Bonus (2) (1) As defined by United States generally accepted accounting principles ("U.S. GAAP") and based on audited financials of the Company. For the first year, the revenue will be annualized. (2) Based on the closing price on December 31 of each year. (3) EBITDA defined as Earnings Before Stock-Based Compensation, Interest, Taxes, Depreciation, Amortization, and other non-cash items, as applicable, as a percent of Gross Revenues. Company sale with gross consideration: $ 75,000,000 $ 100,000,000 2.5 % $ 100,000,000 $ 125,000,000 3.5 % $ 125,000,000 4.5 % Any Buyout Bonus shall be paid to the Executive upon the closing of the Company Sale. The Annual Target Bonus and the Buyout Bonus are collectively referred to as the “Bonuses”). The amount of the Bonuses may be adjusted upward, but not downward, at the discretion of the Board for each fiscal year. The Annual Target Bonus will be paid no later than sixty (60) days following the fiscal year for which the Annual Target Bonus is earned or within five (5) business days following the completion of the audited financial statements of the Company for such year, whichever first occurs. In the event Executive is retained by the Company for less than the full fiscal year for which an Annual Target Bonus is earned pursuant to this Section 5(b), except as otherwise provided herein, the Executive shall be entitled to receive a pro-rated Annual Target Bonus for such year based on the number of days Executive was retained by the Company during such year divided by 365.
Sample 1

Related to Bonus: Annual Target Bonus; Buyout Bonus

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • 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.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

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