Bonus Options. During the Term, in addition to the salary provided for in Section 3.1, the Employee shall be eligible to receive Bonus Options (as defined in the Executive Bonus Plan) in accordance with the terms set forth in the Executive Bonus Plan.
Bonus Options. In addition to your base salary, you shall be entitled to receive a bonus of up to 100% of your base salary, based on the achievement of the annual EBITDA targets contained in Exhibit A (such targets to be subject to adjustment by the Board of Directors of the Company, in good faith, to reflect any acquisitions, dispositions and material changes to capital spending). The amount of such bonus would rise linearly from 0% of base salary to 100% of base salary based on achievement of EBITDA of 90% to 110% of target EBITDA. No bonus shall be payable if EBITDA is 90% or less of target EBITDA. You will also be entitled to receive certain stock options pursuant to one or more executive or employee stock option plans to be adopted by the Company; the proposed terms of such stock options (which are subject to change) are contained in Exhibit A attached hereto.
Bonus Options. (a) For each fiscal year during the Employment Term, provided that Park remains employed with the Company as of December 31 of such fiscal year, Park will be eligible to earn the following bonuses: (i) a performance bonus targeted at fifty percent (50%) of Park’s then-current base salary, based upon the achievement of one or more targets to be set for each fiscal year by the Compensation Committee in its sole discretion, and subject to a pro rata adjustment for underachievement or overachievement of the targets within limits determined by the Compensation Committee in its sole discretion; and (ii) such additional performance bonus for each fiscal year as may be determined by the Compensation Committee in its sole discretion. Any bonus payable under this section shall be paid no later than March 15th of the fiscal year following the fiscal year to which such bonus relates. Park acknowledges and agrees that Park’s bonus for the 2011 fiscal year will be pro-rated based upon the number of days during the 2011 fiscal year in which he was employed by the Company.
(b) The Company hereby agrees to cause, as soon as reasonably practicable after the Effective Date, the issuance to Park of options (“Options”) to purchase 450,000 shares (the “Shares”) of the Company’s common stock, $.01 par value (“Common Stock”), which shall be in addition to the Options issued to Park under the Previous Agreement. The Options shall be issued pursuant to, and in accordance with, the Company’s Amended and Restated 2005 Stock Incentive Plan (the “Plan”). The Options shall be Incentive Stock Options (as defined in the Plan) to the extent allowed by law, and shall be exercisable at a price equal to the Fair Market Value (as defined in the Plan) of the Common Stock on the date of grant. The Options shall vest and become exercisable in equal monthly installments over the four year period commencing on the Effective Date, subject to Park’s continued employment on the applicable vesting date. The term of each Option shall be 10 years from the date of grant. During the Employment Term, Park shall be eligible to participate in the Company’s future stock option grants as determined appropriate by the Compensation Committee in its sole discretion.
(c) In the event that a Change of Control (as defined below) occurs during the Employment Term, one half of any unvested stock options granted to Park which are outstanding as of the date of that Change of Control and have not yet vested (“Unvested Opt...
Bonus Options. During the Term, the Employee shall be eligible to ------------- receive Bonus Options (as defined in the Norton XxXxxxxxxx, Inc. Bonus Option Plan for Senior Executives of JJ Acquisition Corp. (the "Executive Option Bonus Plan")) in accordance with the terms set forth in the Executive Option Bonus Plan, a copy of which is attached hereto as Exhibit B.
Bonus Options. In addition to the Base Salary, Executive will be eligible to receive annual bonus compensation (the "Annual Bonus") and such stock or option grants in an amount to be set by the Company's Board of Directors, acting in its sole and absolute discretion.
Bonus Options. If at any time UDC grants to employees of UDC "bonus" options (that is, options granted to UDC employees other than at the beginning of their service to UDC), UDC shall make available to PPG a pool of "bonus" Options for distribution to PPG employees on the Development Team, as is, in the good faith estimation of UDC, consistent with the criteria used to issue "bonus" options to employees of UDC. Upon approval by PPG, the bonus Options shall be issued to PPG employees on the Development Team by UDC in equal or unequal amounts as determined in the discretion of PPG after consultation with UDC. The terms of such Options shall be consistent with the options granted to UDC employees.
Bonus Options. In January of each year, commencing in January 2012, after considering Executive’s Annual Performance Review for the preceding year, the Compensation Committee will consider whether the Company should grant to Executive an incentive stock option under the Plan (a “Bonus Option”). The number of shares of Common Stock that would be issuable under a Bonus Option shall be proposed by the Compensation Committee to the Board of Directors and shall take into account Executive’s actual performance relative to his accomplishments in the area of business development. The determination as to whether to grant a Bonus Option, and the terms of any such option, shall be made by the Board of Directors, in its sole discretion.
Bonus Options. Each Bonus Option shall vest as to 25% of the shares issuable thereunder on December 31 of the year of grant, and the remainder shall vest in equal monthly portions over the following 36 months, for a total four-year vesting period.
Bonus Options. To be determined annually in the discretion of the Board of Directors.
Bonus Options. Executive shall be issued stock options from the Company’s then current incentive stock option plan, on an annual basis in the discretion of the Board of Directors (the “Bonus Options”). The Bonus Options shall be issued to Executive within 30 days after the end of each anniversary of this Agreement. The amount of Bonus Options each year shall be determined in good faith by the Board of Director, and will be reviewed, from time to time, and may be adjusted (upward and not downward) at the discretion of the Board, including as a result of performing services for Company’s subsidiaries and affiliated companies. The amount of such Bonus Options shall be determined by the Board of Directors based on meeting performance goals set by the Board of Directors in consultation with the Executive.
