Bonus Awards. Any awards to the Employee under a Bonus arrangement that are outstanding at the time of a Separation from Service will be governed by the terms of the Bonus arrangement.
Bonus Awards. In addition to the Base Compensation, during the Employment Term Executive shall be eligible for a bonus determined and paid in accordance with the bonus program for employees of the Company, as approved by the Company from time to time. Unless otherwise set forth in this Agreement, Executive must be employed by the Company on the date the bonus is paid to executive employees generally in order to be entitled to a bonus for that year.
Bonus Awards. Subject to Article IV of this Agreement, during the Employment Term the Employee shall be eligible to receive an annual bonus award based upon the financial performance of the Companies during the preceding fiscal year, the amount of which shall be determined in the sole discretion of the Board of Directors of K-Sea GP. Employee may also receive additional awards in the amounts and at such times as determined in the sole discretion of the Board of Directors of K-Sea GP.
Bonus Awards. The Red Lion Entity employing the applicable Continuing Employee shall be responsible for determining and paying all bonus awards to the Continuing Employee in respect of all applicable performance periods during which the Separation Time occurs or, with respect to Continuing Employees who are Delayed Transfer Service Providers, all applicable performance periods during which the Hire Date occurs, and, in either case, all performance periods thereafter, in each case under and in accordance with the terms of the Red Lion Employee Benefit Plans and the Nabors Annual Incentive Plan, as applicable.
Bonus Awards. The Executive shall be entitled to receive an ------------ annual incentive cash compensation award under the Company's policy of providing for the payment of incentive cash compensation to key officers based upon the performance of the Company and the officer's individual performance.
Bonus Awards. In addition to the Base Compensation during the Employment Term, Executive shall be eligible for a bonus potential of not less than One Hundred percent (100%) of his Base Compensation. The actual bonus shall be determined and paid in accordance with the bonus program for executives of the Company, as approved by the Company from time to time. Unless otherwise set forth in this Agreement, Executive must be employed by the Company on the date the bonus is paid to executive employees generally in order to be entitled to a bonus for that year.
4. Section 19 of the Original Agreement shall be deleted in its entirety and replaced with the following new Section 19:
Bonus Awards. The Employee will be eligible for consideration for incentive compensation ("Bonus Awards"), although no Bonus Awards are required to be paid hereunder. All Bonus Awards shall be determined by the Company's Chief Executive Officer in its sole discretion for such fiscal periods as it shall determine and based upon such factors as it deems relevant. Each Bonus award will be deemed to be earned at the end of the applicable fiscal period and will be paid to the Employee within ninety (90) days following the end of the fiscal period for which such award is made; provided, however, that if, prior to the end of any such fiscal period, (i) the Employment is terminated as a result of the Employee's death or disability; (ii) the Company terminated the Employment other than For Cause pursuant to Paragraph 3.2 hereof; (iii) the Employment is terminated by the Company giving notice pursuant to Paragraph 1.2 hereof; or (iv) the Employee terminates the Employment for Good Reason pursuant to Paragraph 3.4 hereof, in each case, the Employee shall be entitled to receive a prorated Bonus Award determined by multiplying the amount of the Bonus Award, if any, that the Employee would have received had the Employee been employed for the full fiscal period by a fraction, the numerator of which is the number of full months of Employment completed during the fiscal period and the denominator of which is the number of months in the fiscal period. Any such prorated bonus award will be paid to the Employee within ninety (90) days following the end of the fiscal period for which such award in made.
Bonus Awards. Executive shall be eligible to receive bonus compensation during the Employment Period. The bonus award during Executive’s employment with the Company shall be determined as follows:
(i) Within a mutually agreeable time period before the beginning of each calendar year, Executive shall submit to the Board of Directors for its approval the Company’s operational plan, including a fiscal budget, for the next calendar year. A Committee of the Board of Directors, all of the voting members of which shall be outside directors as defined in regulations issued under §162(m) of the Internal Revenue Code of 1986, as amended, and the Executive shall establish mutually agreed goals each year based on the approved operational plan provided that (1) the Executive’s agreement to the goals proposed by the Committee shall not be unreasonably withheld and (2) at the time such goals are established, it is substantially uncertain whether they will be achieved.
(ii) The goals established by the Committee shall include a Target Goal, a Maximum Performance Goal, and such other Goals as the Committee shall determine to be appropriate.
(iii) The bonus to be paid Executive upon attaining the Target Goal for any calendar year shall be 75% of the Executive’s Base Salary for that year and the Bonus to be paid to the Executive upon attaining the Maximum Performance Goal for any such year shall be 120% of Executive’s Base Salary for that year. An appropriately prorated portion of the Bonus payable upon attainment of the Target Goal will be paid for any year in which the Executive’s performance does not attain the Target Goal, but attains at least the minimum level required for payment of a bonus under the Company’s Bonus Plan for key employees as in effect for the year in question. If the Executive’s performance for such year exceeds the Target Goal, but not the Maximum Performance Goal, the bonus payable to the Executive shall be appropriately prorated. In determining whether the Target Goal or the Maximum Performance Goal has been met in any year, the Committee shall give appropriate weight, in accordance with generally accepted accounting principles consistently applied, to the effect on those Targets, and the Executive’s ability to attain them, of strategic decisions, such as acquisitions, divestitures or other extraordinary transactions of similar magnitude.
(iv) Notwithstanding the foregoing:
(A) the Executive will be paid a Bonus for the year 2001 equal to the product of $375,000 ...
Bonus Awards. The Executive shall be entitled to receive an incentive bonus (the “Incentive Bonus”) for each fiscal year during the Term. The Incentive Bonus shall be paid within thirty days of the end of each fiscal year. The Incentive Bonus may be increased, upon the recommendation of the Personnel Committee and the approval of the Board, depending, among other factors, upon the attainment of performance goals set by the Board for Sterling.
Bonus Awards. EHP Employees participating in any bonus plans maintained by EPC immediately prior to the Effective Time shall continue to be eligible to participate in such plans until immediately prior to the Effective Time. The EPC Committee shall determine the amount of the awards payable to such persons under such bonus plans for the bonus period ending as of the Effective Time to the extent consistent with applicable plans, awards and law. EHP shall pay to such EHP Employees the amount of the bonus awards payable under such EPC bonus plans for the bonus period ending as of the Effective Time, with such payments made no later than the 15th day of the third month following the close of EHP’s fiscal year in which such bonus period ends. The determination of whether any portion of a bonus award has been earned will be made based upon the achievement of the applicable performance criteria in accordance with the applicable EPC bonus plan. As soon as practicable following the Effective Time, but in any event at such time and in such manner as consistent with applicable law to reflect any desired intent, EHP shall establish a bonus plan with respect to periods following the Effective Time, including a plan covering the period from the Effective Time through September 30, 2015. The EHP Committee shall be responsible for establishing performance metrics, funding, paying and discharging all obligations relating to any bonus awards under such bonus plans maintained by EHP. As soon as practicable following the Effective Time, but in any event at such time and in such manner as consistent with applicable law to reflect any desired intent, EPC shall establish a bonus plan with respect to periods following the Effective Time, including a plan covering the period from the Effective Time through September 30, 2015. The EPC Committee shall be responsible for establishing performance metrics, funding, paying and discharging all obligations relating to any bonus awards under such bonus plans maintained by EPC.
