Bonus Pool. Not later than 90 days after the beginning of each fiscal year, the Committee will establish a bonus pool (the “Bonus Pool”) equal to a percentage of one or more pre-established, objective Company performance factors (e.g., EBITDA, ROIC or sales) selected by the Committee for the fiscal year. The performance factors and the applicable percentage thereof that make up the Bonus Pool for the [year] fiscal year (the “Performance Period”) are set forth in Appendix I, along with the percentage share in the Bonus Pool to be reserved as an Annual Bonus Pool Award to the Participant for the Performance Period.
Bonus Pool. During the Employment Term, the Executive shall be entitled to participate in the Company’s bonus incentive pool, on such terms as the Board shall approve from time to time.
Bonus Pool. 4.1 For each of the fiscal years of the Company, provided that the EBITDA Target (as hereinafter defined) for such fiscal year shall have been attained, the Company shall establish a bonus pool in an amount equal to a percentage of EBITDA (as hereinafter defined) for such fiscal year as determined by the Board in consultation with Stuaxx Xxxxxxx xxx Howaxx Xxxxxxxx xxx so long as they are employed by the Company (the "Bonus Pool"); provided, however, that the Bonus Pool for any fiscal year shall not exceed that amount which, when deducted from EBITDA, would result in EBITDA for such fiscal year net of the Bonus Pool of less than $5,500,000.
4.2 Notwithstanding the foregoing, in the event that the EBITDA Target is not achieved in any fiscal year, 18 but EBITDA (calculated as otherwise provided herein) for such fiscal year and for the subsequent fiscal year equals or exceeds $11,000,000, then the Company shall establish a bonus pool in an amount equal to a percentage to be determined by the Board in consultation with Stuaxx Xxxxxxx xxx Howaxx Xxxxxxxx xxx so long as they are employed by the Company of combined EBITDA for such two fiscal years, which percentage of the combined EBITDA shall for purposes hereof constitute the Bonus Pool for such two fiscal years; provided, however, that the Bonus Pool for such two fiscal years shall not exceed that amount which, when deducted from the combined EBITDA, would result in the combined EBITDA for such two fiscal years net of the Bonus Pool of less than $11,000,000.
4.3 As used herein: (i) EBITDA shall have the meaning set forth in the Agreement of Purchase and Sale dated as of September 3, 1997 (the "Agreement"), by and among the Company and the other parties thereto (which parties include certain of the Participants) for the appropriate fiscal year, without reduction for the Bonus Pool for such fiscal year contemplated by this Bonus Plan or for any expense attributable to the Bonus Options; and (ii) EBITDA Target shall mean, for each fiscal year, achievement of EBITDA of not less than $5,500,000. In the event of any change in the fiscal year of the Company, appropriate adjustments shall be made to the EBITDA Target in order to carry out the intent and principles of the Bonus Plan.
Bonus Pool. The Company intends to create a bonus plan based upon the earnings of the Company to provide incentives for certain employees of the Company and its subsidiaries. The Employee shall be entitled to participate in such plan on such terms as may be determined by the Chief Executive Officer and the Directors, in their discretion. Nothing in this Agreement shall require the Company to pay any such bonus.
Bonus Pool. 3-D intends to create a bonus plan based upon the earnings of 3-D to provide incentives for certain employees of 3-D and its subsidiaries, including the Company. The Employee shall be entitled to participate in such plan on such terms as may be determined by the Compensation Committee of the Board of Directors of 3-D, in its discretion. Nothing in this Agreement shall require 3-D to pay any such bonus.
Bonus Pool. Executive shall participate to the extent of the percentage determined by the Board of Directors of Employer in the bonus pool (the “Bonus Pool”) created with respect to each accident underwriting year, consisting of that portion of the underwriting profit for such year designated by the Board of Directors of Employer.
Bonus Pool. (a) Prior to the Mailing Date, NYBOT shall deliver to ICE and the Exchange Agent, in writing, a schedule (the “Allocation Schedule”) setting forth an allocation of up to an aggregate amount in cash and up to an aggregate number of shares of ICE Common Stock, in each case as set forth on Annex 4.6, to certain directors and employees of NYBOT and its Subsidiaries (in the aggregate, the “Bonus Pool”). With respect to the Bonus Pool, the Allocation Schedule shall identify the full name and such other identifying information as ICE may reasonably request with respect to each of the directors and employees of NYBOT and its Subsidiaries that NYBOT desires to receive a portion of the Bonus Pool, together with details of the amount of cash (in the aggregate, the “Awarded Cash Consideration”) and number of shares of ICE Common Stock (in the aggregate, the “Awarded Share Number”) in the Bonus Pool to be provided to each such director and employee. If any of the Bonus Pool has not been allocated to such directors and employees of NYBOT, the amount of (i) any unallocated cash plus (ii) any unallocated shares of ICE Common Stock shall be allocated to the Members (the “Members’ Allocation”).
(b) ICE shall cause the Exchange Agent to include in the transmittal materials to be provided to Members pursuant to Section 4.4(b) a notice of the amount of the aggregate Members’ Allocation divided by the number of Membership Interests then issued and outstanding (the “Per Interest Additional Consideration”). The Per Interest Additional Consideration shall be payable to the Members in the relative proportions of cash and shares of ICE Common Stock in which such Member is entitled to receive the other Merger Consideration pursuant to Section 4.3, taking into account the Exchange Agent’s pro ration process pursuant to Section 4.3. The “Per Interest Additional Cash Consideration” means the cash portion of such Per Interest Additional Consideration. The “Per Interest Additional Stock Consideration” means the ICE Common Stock portion of such Per Interest Additional Consideration.
Bonus Pool. The size of the annual Bonus Pool will be based upon the achievement of growth in annual revenues and the annual growth in EBIT (Earnings Before Interest and Taxes). In principle, the size of the Bonus Pool will be calculated based on the formula:
Bonus Pool. The aggregate bonus pool for a fiscal year shall not exceed 10% of Consolidated Operating Income for such fiscal year, and the actual amount shall be determined by the Committee in its sole discretion. If the number does exceed 10% of operating income, the difference shall be paid in stock. "Consolidated Operating Income" means the Company's consolidated operating income for the fiscal year. The calculation of Consolidated Operating Income shall be in accordance with generally accepted accounting principles (including FAS 14), adjusted to exclude the following:
Bonus Pool. On the business day immediately preceding the date set for the closing of the Merger Agreement, the Executive shall be entitled to receive a cash Bonus as set forth in the FirsTier Financial, Inc. Change of Control Bonus Pool Plan (the "Bonus Pool Plan"). The Corporation hereby covenants and agrees that the Bonus awarded to the Executive pursuant to the terms of the Bonus Pool Plan shall in no event be in an amount comprising less than fifty per cent (50%) of the total available Bonus Pool.