Bonus Stock Options. (a) In addition to the Base Salary described in Section 3(a) hereof, during the Employment Period, the Employee shall be eligible to receive an annual cash bonus based upon the Employee's achievement of performance objectives to be determined mutually by the Company and Employee each year (the "Annual Cash Bonus"). The targeted Annual Cash Bonus for ADP's fiscal year ended June 30, 2001 shall be 25% of the annual Base Salary, fifty-two thousand, five hundred dollars ($52,500), with a potential to earn up to 37.5% of the annual Base Salary, seventy-eight thousand, seven hundred fifty dollars ($78,750), based, among other things, upon achievement of performance objectives. Additionally, during the term of this Employment Agreement the Employee and the Company shall establish "stretch" bonus goals with respect to the net operating income component of the Employee's performance objectives thereby entitling the Employee to an additional bonus of 200% of the bonus component related to that performance objective. If the Annual Cash Bonus becomes payable, it will be paid within ninety (90) days after the end of ADP's applicable fiscal year provided that the Employee is an employee of the Company on the last day of such fiscal year. Notwithstanding the foregoing, the pro-rated Annual Cash Bonus for the portion of the Company's fiscal year ended June 30, 2000 that the Employee is employed hereunder shall be paid together with the Annual Cash Bonus for the Company's fiscal year ended June 30, 2001.
Bonus Stock Options. Within sixty (60) days after the Securities and Exchange Commission declares the Registration Statement on Form S-1 to be filed by Employer, effective, Employee will be issued an Incentive Stock Option (“ISO”) to purchase up to Seven Hundred Thousand (700,000) shares of Employer’s common stock. The ISO will have an exercise price equal to 85% of the fair market value of the Employer’s common stock on the date of grant. The ISO will vest according to the following schedule:
Bonus Stock Options. (a) In addition to his Salary, Executive shall be eligible to receive a potential annual target cash bonus (the “Target Cash Bonus”) of 75% of his Salary on an annual fiscal year basis, in accordance with the terms of the Corporation’s Board approved executive incentive compensation or bonus plan, if any, or as otherwise approved by the Board. The determination of any Target Cash Bonus payment to be made shall be based on Executive’s and / or the Corporation’s achievement of financial goals and other measurement criteria, as defined and approved by the Board each year. The annual Target Cash Bonus is payable at the discretion of the Compensation Committee and Board. The Target Cash Bonus for any particular calendar year, if any, will be paid by March 15 of the following calendar year. Notwithstanding anything contained in this Section 4.2(a) to the contrary, Executive’s Target Cash Bonus in respect of calendar year 2017 shall be determined based on Executive’s achievement of performance objectives during the period commencing on the Effective Date and ending on December 31, 2017 (the “2017 Performance Period”), which performance objectives shall be agreed to by the Board and Executive.
Bonus Stock Options. (a) In addition to the annual Salary, Executive shall be eligible to receive certain bonuses during his employment as follows:
Bonus Stock Options. (a) In addition to his Salary, Executive may receive a cash or cash equivalent bonus (“Bonus”) in respect of each calendar year during the Term. The Bonus for each calendar year shall be determined by the Compensation Committee and the Board in their sole discretion. The Target Bonus shall be fifty percent (50%) of the Salary in any one year, with a maximum amount at the sole discretion of the Compensation Committee and the Board. Such Bonus may be a mix of cash and stock, as determined by the Board in its sole discretion. Objectives for the Bonus will be set and agreed to by the Board and Executive at the beginning of each calendar year. The Bonus for any particular calendar year, if any, will be paid by March 15 of the following calendar year.
Bonus Stock Options. For each calendar year beginning on January 1, 2016 Executive will be eligible to receive additional equity incentive awards with respect to each such calendar year of the Company based upon Executive's perceived performance during such calendar year and the achievement of the Company targeted results of operations as set by the Board of Directors during the Company's budgeting process in the previous calendar year. Such equity incentive awards may be in the form of options to purchase shares of the Company's common stock, awards of restricted stock, stock appreciation rights, or other awards as determined by the Board or a Committee of the Board. The target number of shares subject to each annual award shall be one-half of one percent of the outstanding shares of the Company; provided, however, that the actual amount of the award, the vesting provisions and other terms and conditions of each award will be determined by the Board or a Committee of the Board.
Bonus Stock Options. (a) In addition to the Base Salary, Executive may receive a cash or cash equivalent bonus (“Bonus”) in respect of each calendar year during the Term, including, without limitation, calendar year 2020. The Bonus for each calendar year shall be determined by the Compensation Committee in its sole discretion. The “Target Bonus” shall be fifty percent (50%) of the Base Salary in any one year, with the amount at the sole discretion of the Compensation Committee. Objectives for any Bonus will be set by the Compensation Committee in consultation with the CEO at the beginning of each calendar year. The Bonus for any particular year, if any, will be paid by March 15 of the following calendar year. Notwithstanding anything contained in this Section 4.2(a) to the contrary, Executive’s Bonus for the 2020 calendar year shall be determined based on Executive’s achievement of performance objectives during the period commencing on the Effective Date and ending on December 31, 2020 (the “2020 Performance Period”), which performance objectives shall be set by the Compensation Committee in consultation with the CEO, and the Bonus earned by Executive in respect of calendar year 2020, if any, shall be pro-rated based on the number of days in the 2020 Performance Period, as compared to the total number of days in such calendar year.
Bonus Stock Options. (a) In addition to the Base Salary, Executive may receive a cash or cash equivalent bonus (“Bonus”) in respect of each calendar year during the Term, including, without limitation, calendar year 2021. The Bonus for each calendar year shall be determined by the Compensation Committee in its sole discretion. The “
Bonus Stock Options. (a) As additional compensation for your services, you shall be eligible to earn bonus compensation for each fiscal year of the Company, commencing with the fiscal year ending December 31, 1999, during your term of employment hereunder in accordance with an incentive compensation plan
Bonus Stock Options. A. In addition to his base salary, during the term of this Agreement, the Executive shall be entitled to participate in any bonus and stock option plans, programs, arrangements and practices sponsored by the Company for the benefit of executive employees serving in similar capacities with the Company (and/or its affiliates), if any, as may be established from time to time by the Board of Directors of the Company for the benefit of such executive employees, in accordance with the terms of such plans, as amended by the Company from time to time; it being understood that there is no assurance with respect to the establishment of such plans or, if established, the continuation of such plans during the term of this Agreement.
