Bonus Incentive Plan. Employee is eligible to receive a bonus based upon individual and company performance as determined by the Employer in its sole discretion. The bonus may be paid on a monthly or quarterly basis, using the following criteria, to arrive at their decision; increase in revenue, earnings, cash flow, debt reduction; economic value added, return on net assets, return on stockholders’ equity, return on assets, return on capital, stockholder returns, return on sales, gross or net profit margin, productivity, expense, margins, operating efficiency, objective measures of customer satisfaction, working capital, financing, earnings per share, market share, inventory turns, acquisitions or strategic transactions, or other means of bringing additional value to the Employer.
Bonus Incentive Plan. (1) Within sixty (60) days, the Board shall review evaluate and revise the current Bonus Incentive Plan to include measurable, qualitative factors.
(2) Upon completion, the Board shall submit the plan to the Assistant Deputy Comptroller.
(3) The Board shall ensure that the Bank has processes, personnel, and control systems to ensure implementation of and adherence to the policy developed pursuant to this Article.
Bonus Incentive Plan. This plan shall provide for the payment of a cash bonus each fiscal year up to a maximum amount equal to the product of (i) 35%, (ii) 1.5 and (iii ) the Base Salary of the Employee for such fiscal year (the "Maximum Bonus Amount"). The amount payable as cash bonus shall be determined based on the achievement by the Company of certain budget goals for the Company for such fiscal year. The budget goals will be established annually by Trion prior to each fiscal year based on a budget for the Company prepared by the Employee and approved by Trion prior to each fiscal year. The budget goals will have minimum targets and maximum targets. If the Company exceeds the maximum targets, the Maximum Bonus Amount will be paid. If the Company does not exceed the minimum targets, no bonus will be payable. If the Company exceeds the minimum targets, but not the maximum targets, the bonus amount will be prorated. Notwithstanding the foregoing, for the period from March 1, 1995 to December 31, 1995, the following shall apply to determine the amount of cash bonus payable to the Employee:
(i) from March 1, 1995 to the date of closing of the Stock Sale (the "Closing"), the bonus payable shall be that amount which would otherwise be payable pursuant to the Company's bonus incentive plan in effect prior to such Closing based on the plan and budget goals attached hereto as Exhibit A, prorated for such period. Any bonus payable will be paid upon completion of the Closing Balance Sheet contemplated by the Stock Purchase Agreement.
(ii) from Closing to December 31, 1995, the bonus payable shall be based upon the bonus plan and budget goals for such period as described on the exhibit attached hereto as Exhibit B, prorated for such period.
Bonus Incentive Plan. Sheriff will be eligible to participate in a Bonus Incentive Plan that is intended to promote the growth, profitability and financial success of PEC. The terms and conditions of the plan will be determined by the Board of Directors of PEC in its sole discretion.
Bonus Incentive Plan. Employee shall participate in a bonus/incentive plan to be agreed upon between Employee and EMPLOYER and approved by the Board of Directors of EMPLOYER. It is contemplated that the incentive bonus/plan will allow for an annual bonus of up to $131,250.00 based upon the meeting of certain criteria specified therein and that the first year’s minimum incentive annual bonus will be guaranteed at $75,000.00.
Bonus Incentive Plan. Seller will make a prorated annual cash bonus/incentive payment to each Transferred Employee who is eligible for such bonus/incentive payment as of the Closing and remains employed through the Closing, in the amount (if any) of which will equal the product of the applicable Transferred Employee’s annual bonus/incentive amount (as described in the next sentence) multiplied by a fraction, the numerator of which is the number of days in the calendar year in which the Closing Date occurs that elapse prior to the Closing Date, and the denominator of which is 365. Seller may determine the annual bonus/incentive amount using any good faith methodology (which need not be the same for each Transferred Employee but shall be the same for groups of similarly situated employees), including by basing such amount upon target bonus or upon actual performance. Such prorated bonuses/incentives will be paid by Seller no later than the date on which Seller pays annual bonuses to other similarly situated employees of Seller and its Affiliates.
Bonus Incentive Plan. At the sole discretion of the Board, Executive may be eligible to participate in the Company’s Bonus Plan and Long Term Incentive Plan by the Company.
Bonus Incentive Plan. Employee shall participate in a bonus/incentive plan to be agreed upon between Employee and EMPLOYER and approved by the EMPLOYER’s Compensation Committee.
Bonus Incentive Plan. Employee is eligible to receive a bonus based upon individual and company performance as determined by the Employer in its sole discretion. The bonus will be earned on or quarterly basis, and paid sixty (60) days after the closing of the quarter. To determine the bonus, the Employer will use the following criteria, to arrive at their decision; increase in revenue, earnings, cash flow, debt reduction; economic value added, return on net assets, return on stockholders’ equity, return on assets, return on capital, stockholder returns, return on sales, gross or net profit margin, productivity, expense, margins, operating efficiency, objective measures of customer satisfaction, working capital, financing, earnings per share, market share, inventory turns, acquisitions or strategic transactions, or other means of bringing additional value to the Employer.
Bonus Incentive Plan
