Cash Bonus Plan. As a member of senior management of the Company, you will be eligible to participate under the Company’s Cash Bonus Plan, the current terms of which are set forth on Exhibit A attached hereto. Notwithstanding the terms of the Company’s Cash Bonus Plan that require your continued employment through the determination date of payment of an earned cash bonus, in the event that the Company terminates your employment for any reason, or your employment terminates due to your death or permanent disability, or you resign for Good Reason, you will be entitled to receive a pro-rata payment of your Target Bonus for the year of your termination based on the number of months of your employment during the applicable bonus year and based on full achievement of the EBITDA target under the Cash Bonus Plan.
Cash Bonus Plan. The Compensation Committee shall adopt a cash bonus plan designed to provide Officer an opportunity to earn annual cash bonuses during each calendar year during his employment which, when added to Officer's Base Salary, shall provide officer a level of compensation comparable to compensation generally prevailing for other chief executive officers of publicly traded companies which are comparable to the Company. The factors to be used to select which companies are comparable to that of the Company shall include, but not limited to, industry group, revenues, operating income, growth rate, number of employees and location. The annual performance goals to be met in order to earn portions or all of the bonus provided under the plan shall be determined through consultation between the Officer and the Compensation
(i) if Officer substantially achieves the Annual Performance Goal for such calendar year, officer shall receive a cash bonus of at least fifty percent (50%) of the Officer's Base Salary for such calendar year; and (ii) if Officer exceeds the Annual Performance Goal for such calendar year, Officer shall receive a cash bonus between fifty percent (50%) and one hundred percent (100%) of the Officer's Base Salary for such calendar year. If this Agreement is terminated in the middle of a calendar year, Officer shall receive a cash bonus for services rendered through the Termination Date (as defined below) equal to the cash bonus he would have received for the entire calendar year, prorated through the Termination Date. All cash bonuses hereunder shall be paid to Officer within five (5) business days following the date the audited consolidated financial statements for the Company for the applicable calendar year become available.
Cash Bonus Plan. XXXX is designed to pay cash bonuses to participating key executives after the end of a Performance Period based on the level (i) of achievement of predetermined Earnings thresholds and (ii) attainment of Operational Goals (to which the Committee may exercise Negative Discretion).
Cash Bonus Plan. The Company shall provide Executive a cash performance bonus (“Bonus”) based on Executive’s achievement of certain performance criteria (“Performance Criteria”) during the first seventeen (17) months of Executive’s employment with the Company, provided, that, Bonus will not exceed two hundred fifty thousand U.S. dollars ($250,000). The Performance Criteria will be agreed upon by the Executive and the Company within three (3) months of the date of this Agreement.
Cash Bonus Plan. The Compensation Committee shall adopt a cash bonus plan designed to provide Officer an opportunity to earn annual cash bonuses during each calendar year during his employment which, when added to Officer's Base Salary, shall provide Officer a level of compensation comparable to compensation generally prevailing for other senior vice presidents of publicly traded companies which are comparable to the Company. The factors to be used to select which companies are comparable to that of the Company shall include, but not be limited to, industry group, revenues, operating income, growth rate, number of employees and location. The annual performance goals to be met in order to earn portions or all of the bonus provided under the plan shall be determined through consultation between the Officer and the Compensation Committee. If requested by the Compensation Committee or Officer, the Company shall retain a reputable, nationally recognized compensation consultant to assist the Compensation Committee in identifying comparable companies and to make recommendations regarding the structure and amount of the cash bonus plan.
Cash Bonus Plan. If at the time of termination Executive is not participating in a cash bonus plan intended to qualify awards eligible to be earned thereunder as “performance based compensation” for purposes of Section 162(m) of the Internal Revenue Code of 1986, as amended (the “Code”), Executive will receive a lump-sum severance payment equal to one hundred percent (100%) of Executive’s target bonus as in effect for the fiscal year in which Executive’s termination occurs, pro-rated by multiplying such bonus amount by a fraction, the numerator of which shall be the number of days from and including the first day of such fiscal year through and including the date of Executive’s termination, and the denominator of which shall be three-hundred and sixty-five (365).
Cash Bonus Plan. If at the time of termination Executive is participating in a cash bonus or incentive plan intended to qualify the awards as “performance based compensation” for purposes of Code Section 162(m), Executive will be entitled to receive the award Executive would have otherwise received had Executive remained employed by the Company through the end of the applicable performance period (and through the date of payment if continued employment through such date would be required to earn the bonus), but without the Board or any committee of the Board exercising any negative discretion to reduce the amount of the award, pro-rated by multiplying such bonus amount by a fraction, the numerator of which shall be the number of days from and including the first day of such fiscal year through and including the date of Executive’s termination, and the denominator of which shall be three-hundred and sixty-five (365). The amount will be paid in a lump sum payment in cash at the same time awards are otherwise paid to other senior executives participating in that or a similar incentive plan or arrangement.
Cash Bonus Plan. Parent shall have adopted the Cash Bonus Plan and, within one (1) Business Day of the Closing, shall make the payments contemplated thereby to be made at Closing to the Participating Employees.
Cash Bonus Plan. During his employment under this Agreement, Executive shall be entitled to participate in the Company’s standard cash incentive plan (“Cash Incentive Plan”) at the same level as other similarly-situated executives (currently at a bonus target of 60% of base salary for division presidents). The cash bonus payable under this section 3.3, if any, shall be paid to Executive within 2½ months following the end of the applicable fiscal year.
Cash Bonus Plan. (i) A cash bonus will be paid monthly once monthly production for total Wholesale Originations reaches $200 million for any one calendar month during the Term or any Renewal Term. The bonus shall be in an amount equal to five (5) basis points multiplied by the amount of such Wholesale Originations for such month that is greater than $200 million and less than or equal to $400 million, and will not exceed One Hundred Thousand Dollars ($100,000.00) in any one month.
(ii) In addition to any bonus provided for in subparagraph (i), if monthly production for Wholesale Originations is $400 million or more for any calendar month during the Term or any Renewal Term, Xxxxxxx shall receive Fifteen Thousand Dollars ($15,000.00) as a bonus for that month.
