Cash Bonus Awards. The Executive may receive a discretionary cash bonus award which is determined annually by the Board on the recommendation of the Compensation Committee. The annual cash bonus award will range from 0 % to a maximum of 100 % of the annual salary. The level of the bonus will be guided by the performance in respect to annual KPIs to be agreed with the board; as a guide the target compensation for each year under this Agreement is intended to be a bonus of 50 % of annual salary. Bonus, if any, is to be paid out for the first time in 2012 (for the period September 2010 to December 2011, i.e. 16 months). The Employers payment to the additional pension saving paid to the Norwegian life insurance company as described in clause 2.2 above shall be taken into consideration when considering annual bonus under this clause. To the extent cash bonus shall be included in the calculation of holiday allowance according to mandatory law, the cash bonus includes mandatory holiday allowance set out by Norwegian law. However, the amount of the cash bonus that equals the holiday allowance is, in accordance with the Holiday Act, payable in the year following the qualifying year, i.e. the holiday year.
Cash Bonus Awards. The Executive may receive a discretionary cash bonus award which is determined annually by the Board on the recommendation of the Compensation Committee. The Executive is eligible to participate in short term incentive plan as in existence from time to time. The Employers payment to the additional pension saving as described in clause 2.2 above shall be taken into consideration when considering annual bonus under this clause. Executive is entitled to 5 weeks holiday each calendar year.
Cash Bonus Awards. For IRT’s 20__ fiscal year, the Compensation Committee has implemented this Annual Cash Bonus Plan to incentivize Eligible Officers to produce a high level of operational performance by explicitly linking the majority of their annual bonuses to certain objectives and formulaic metrics that the Compensation Committee believes are important drivers in the creation of shareholder value, while also rewarding more subjective elements of each Eligible Officer’s performance through a subjective component. This program sets forth a target cash bonus award level for each Eligible Officer participant composed of two components, as described below:
Cash Bonus Awards. For the Company’s 20__ fiscal year, the Committee has implemented this Annual Cash Bonus Plan to incentivize Eligible Officers to produce a high level of operational performance by explicitly linking the majority of their annual bonuses to certain objectives and formulaic metrics that the Committee believes are important drivers in the creation of shareholder value, while also rewarding more subjective elements of each Eligible Officer’s performance through a subjective component. This program sets forth a target cash bonus award level for each Eligible Officer composed of two components, as described below: • “Objective/Formulaic Component” — the objective/formulaic component of the Cash Bonus Award that may be earned by each Eligible Officer will be determined by the Company’s performance relative to specified objective performance criteria established by the Committee, as described below.
Cash Bonus Awards. After the Closing, Acquirer shall implement a special bonus plan (the "Cash Bonus Plan") for the persons and in the amounts listed in Exhibit L (the "Cash Bonus Recipients") and shall pay all individual bonuses under such Cash Bonus Plan promptly as they vest in accordance with the following vesting schedule. Acquirer shall pay to each Cash Bonus Recipient: (a) 12 months after the Closing Date (the "One-Year Anniversary"), 50% of his or her allocated bonus under the Cash Bonus Plan; provided, however, that such Cash Bonus Recipient is employed by Acquirer, a Subsidiary of Acquirer or any other affiliate of Acquirer on the One-Year Anniversary; and (b) 24 months after the Closing Date (the "Two-Year Anniversary"), 50% of his or her allocated bonus under the Cash Bonus Plan; provided, however, that such Cash Bonus Recipient is employed by Acquirer, a Subsidiary of Acquirer or any other affiliate of Acquirer on the Two-Year Anniversary. All bonus payments made pursuant to this Section 6.4 shall be subject to the collection of all applicable federal and state income and employment withholding taxes.
Cash Bonus Awards. On the date hereof, the Company shall establish a cash bonus agreement with respect to the Covalto Co-Founders.
Cash Bonus Awards. Any Eligible Individual selected by the Committee may be granted one or more cash bonuses (each, a “Cash Bonus Award”) payable on a specified date or dates determined by the Committee.
Cash Bonus Awards. On April 1, 1999, the Executive shall be awarded a Cash Bonus Award of $40,000.00, subject to the terms and conditions of this Agreement.
Cash Bonus Awards. (a) As promptly as practicable after the date of this Agreement, Calavo shall pay to Cxxx a cash bonus in the pre-tax amount of $140,220, which is equal to the last reported sales price of $190 per share for Limoneira’s common stock on the Pink Sheets on August 24, 2006, multiplied by 738.
(b) On August 24, 2007, and on each of the following three anniversaries of that date, Calavo shall pay to Cxxx an additional cash bonus in a pre-tax amount that is equal to (i) 738, multiplied by (ii) the trading volume weighted average last reported sales price of Limoneira’s common stock for the immediately preceding thirty business days on the Pink Sheets (or on a national stock exchange, Nasdaq or the OTC Bulletin Board, if the common stock is traded on such other market at the time). If Limoneira’s common stock is not traded on the Pink Sheets or another national market as of any applicable bonus payment date, Cxxx and Calavo shall cooperate in good faith in determining the appropriate amount of the cash bonus to be paid to Cxxx based upon the fair market value of Limoneira’s common stock. If any August 24 on which a bonus is payable to Cxxx is not a business day, Calavo shall make the bonus payment on the next business day.
(c) Cxxx shall not be entitled to receive any bonus from Calavo under this Agreement unless he is serving as the Chief Executive Officer of Calavo on the applicable date described in Section 1(b). For example, if Cxxx’x service as Calavo’s Chief Executive Officer terminates for any reason on June 15, 2007, he shall not be entitled to receive the bonus that is scheduled to be paid to him on August 24, 2007 or on any subsequent date.
Cash Bonus Awards. The Committee may designate the employees of the Company who are eligible to receive a cash bonus payment in any calendar year based on an incentive pool to be determined by the Committee. The Committee shall allocate an incentive pool percentage to each designated Participant for each calendar year. As soon as possible after the determination of the incentive pool for a calendar year, the Committee shall calculate the Participant’s allocated portion of the incentive pool based upon the percentage established at the beginning of the calendar year. The Participant’s incentive award then shall be determined by the Committee based on the Participant’s allocated portion of the incentive pool subject to adjustment in the sole discretion of the Committee. Unless otherwise specified by the Committee in writing in compliance with Code Section 409A, incentive awards shall be paid no later than March 15th of the year following the year in which the incentive award is earned. In no event may the portion of the incentive pool allocated to a Participant be increased in any way, including as a result of the reduction of any other Participant’s allocated portion.
