Cash Bonus. Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and
Cash Bonus. Executive will be eligible for a cash bonus as described in Attachment A incorporated herein by reference.
Cash Bonus. A cash bonus opportunity (the “Cash Bonus”) during each calendar year with a target (the “Target Cash Bonus”) equal to fifty percent (50%) (the “Target Cash Bonus Percentage”) of Employees’ Base Salary for the year in which the cash bonus is paid, such cash bonus to be paid in accordance with the Company’s existing Short Term Incentive Plan, as such plan may be amended or replaced from time to time, or the equivalent (the “STIP”). Pursuant to the terms of the STIP, each annual Cash Bonus shall be payable based on the achievement of performance goals, and may be higher or lower than the Target Cash Bonus based on achievement of those goals. For each calendar year during the term of this Agreement, the Board (or the Compensation Committee) of EFI will determine and will establish in writing (i) the applicable STIP performance goals, which shall be reasonably achievable and if achieved would result in payment of the Target Cash Bonus, (iii) the percentage of annual Base Salary to be payable to Employee if some lesser or greater percentage of the annual STIP performance goals are achieved, and (iv) such other applicable terms and conditions of the STIP necessary to satisfy the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code"); and
Cash Bonus. At the sole and exclusive discretion of the Board, the Company may pay to Employee an annual cash bonus (the “Cash Bonus”) in an amount determined in good faith by the Board based upon a complete review of Employee's performance under this Employment Agreement during the current calendar year and the growth and profitability of the Company and Employee's contribution thereto. Any Cash Bonus payable to Employee pursuant to this Section 5.02 shall be payable, if at all, on or before January 31, of each year during the Employment Period immediately following the prior calendar year then ended, based upon Employee’s performance for the immediate prior calendar year.
Cash Bonus. (i) For each fiscal year of the Company during the Term, the Executive will be eligible to receive a cash bonus of up to $200,000 (the “Maximum Bonus”).
(ii) Eighty percent (80%) of the Maximum Bonus (the “EBITDA Bonus”) shall be payable to Executive based on the achievement of the annual EBITDA target set forth in the Company’s annual management plan (the “Annual EBITDA Target”). The bonus shall be equal to 50% of the EBITDA Bonus if the Company achieves (as determined by the Board) 100% of the Annual EBITDA Target after the accrual of all management bonuses for such fiscal year and will increase or decrease on a linear basis at a rate of 10% of EBITDA Bonus for each 1% of the Annual EBITDA Target in excess of, or below, 100%, as applicable. By way of example, if the Company achieves (A) 105% or more of the Annual EBITDA Target after the accrual of all management bonuses for a fiscal year, the bonus would be equal to the EBITDA Bonus, (B) 102.5% of the Annual EBITDA Target after the accrual of all management bonuses for such fiscal year, the bonus would be equal to 75% of the EBITDA Bonus, (C) 97.5% of the Annual EBITDA Target after the accrual of all management bonuses for such fiscal year, the bonus would be equal to 25% of the EBITDA Bonus and (D) 95% or less of the Annual EBITDA Target after the accrual of all management bonuses for such fiscal year, the bonus would be equal to zero.
(iii) The Executive shall be eligible to receive twenty percent (20%) of the Maximum Bonus in the discretion of the Board based upon the recommendation of the Chief Executive Officer of the Company taking into account whether the Company achieved certain pre-set operating objectives for the applicable fiscal year.
(iv) In the event the Company makes an acquisition or disposition of a company or line of business or other substantial change (including a substantial increase or decrease in capital expenditures to the extent not accounted for in the applicable Annual EBITDA Target) to the Company, the Annual EBITDA Target may be adjusted by the Board, in good faith, to adjust for such acquisition, disposition or other change.
(v) For the purpose hereof, “EBITDA” means the consolidated earnings of the Company, including equity in the earnings from non-consolidated subsidiaries, before interest, taxes, depreciation, amortization and after deduction of all operating expenses, minority interest expenses and incentive compensation, all as calculated in accordance with generally ac...
Cash Bonus. The Executive shall be eligible for a cash bonus equal to an amount as determined by the Compensation Committee of the Board or by the independent directors (as that term is defined by the stock exchange or market on which the Company’s shares may be the traded).
Cash Bonus. During the Term, Executive shall be eligible to receive an annual cash bonus of up to 50% of her Base Salary, as determined by the Compensation Committee (the “Bonus”), which shall be payable based upon Executive’s individual achievement of pre-determined financial or strategic performance goals established by the Company from time to time, in its sole and absolute discretion.
Cash Bonus. In the event of a Change of Control of the Company, as defined in subparagraph (d) below, while Executive is employed under this Agreement, and in consideration for his remaining in the employment of the Company for one year following the date of the Change of Control, Company shall pay to Executive a bonus equal to two (2) times Executives' then current base salary. This bonus shall be in addition to Executive's regular salary and other forms of compensation. Such bonus shall be paid as follows:
(i) 50% within 30 days after the date of Change of Control; and
(ii) 50% within 30 days of the first anniversary of such Change of Control, if Executive is still in the Company's employ as of that date. Should Executive's employment be involuntarily terminated without Cause or if Executive resigns with Good Reason or as a result of his death or disability prior to such first anniversary, Executive (or Executive's estate in the event of death) shall be entitled to the "first anniversary payment" within 30 days of such termination. Should Executive resign without Good Reason or his employment be involuntarily terminated with Cause prior to the first anniversary date, he shall not be eligible to receive any further amount on the first anniversary date. Payments under this Section 7 are separate and distinct from and in addition to any other payments contemplated under this Agreement.
Cash Bonus. Employee will continue to be eligible to receive cash bonuses pursuant to the Company's Executive Compensation Plan (the "Executive Compensation Plan"); provided, however, that Company may not reduce Employee's target bonus amount (represented as a percentage of base salary) from that in effect as of the date hereof or as may be increased from time to time. In the event that Company amends or terminates the Executive Compensation Plan, Company shall provide Employee with an annual cash bonus program that will provide him with an opportunity to realize an annual cash bonus which is not less than the target bonus amount (represented as a percentage of base salary) that exists under the Executive Compensation Plan at the time it is amended or terminated, which opportunity shall be reasonably comparable to Employee's opportunity under the Executive Compensation Plan as of the date hereof.
Cash Bonus. (i) Executive shall be eligible to participate in the Company’s annual incentive plan for each fiscal year of the Company during the Term with a target amount equal to 60% of the Base Salary (the “Target Bonus”). The Target Bonus may be increased, but not decreased during the Term. The actual amount of the annual cash bonus, if any, payable to Executive in respect of any fiscal year during the Term may be based on the achievement of performance criteria established by, and may relate to financial and non-financial metrics as determined by, the Board or the Compensation Committee of the Board.
(ii) Any annual cash bonus that becomes payable to Executive under this Section 3(b) shall be paid to Executive, in cash, as soon as practicable following the end of the year of the Company to which it relates; provided, that, except as otherwise provided in Section 5(a)(ii), Section 5(b) or Section 5(c) herein, Executive is an active employee of the Company Group, and has not given or received notice of termination or resignation of employment as of the date on which such payment is made.
