Cash Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.
Cash Incentive Compensation. Notwithstanding anything herein to the contrary, if the Transfer Date under the Secondment Agreement occurs other than on December 31 of any year during the Period of Secondment, with respect to all Seconded Employees, the Services Reimbursement shall include the amounts, if any, of all cash bonus and other cash incentive compensation payments that would be payable to the Seconded Employees through the Transfer Date under the terms and conditions of the applicable Benefit Plans (except that Chesapeake Management may, in its discretion, consider continued employment by Chesapeake Management through the Transfer Date as satisfying any requirement under any such Benefit Plan of continued employment through year end or date of payment) and such amounts shall be determined on a pro-rated basis for the year that includes the Transfer Date based on the number of days that the Seconded Employee was actually seconded to the General Partner hereunder during the year in which the Transfer Date occurred. Notwithstanding the foregoing, the provisions of this Section 4.3 shall not apply to MICP Payments, and 100% of the MICP Payments attributable to awards made to a Seconded Employee during his or her Period of Secondment (regardless of whether such award is actually paid during or after the termination of the Seconded Employee’s Period of Secondment) shall be included in the Services Reimbursement and the Seconded Employee Expenses to the extent that such MICP Payments are actually paid by a Chesapeake Entity and to the extent provided in Section 4.2; provided, however, that with respect to a Seconded Employee whose Secondment is terminated but who remains employed by a Chesapeake Entity following such termination of Secondment, the amount of the MICP Payments includable in the Services Reimbursement shall not exceed the amount of such MICP Payments that were actually paid and to the extent provided in Section 4.2 but multiplied by a fraction the numerator of which equals the number of days in such Seconded Employee’s Period of Secondment and the denominator of which equals the number of days in such Seconded Employee’s Period of Secondment plus the number of days of his or her post-Secondment employment with a Chesapeake Entity through the applicable payment date under the MICP.
Cash Incentive Compensation. The second sentence of Section 2(b) is hereby amended and restated as follows:
Cash Incentive Compensation. With respect to each fiscal year of the Company, all or part of which is contained in the Employment Term, the Executive will be eligible to participate in the Company's annual management incentive program or arrangement approved by the Board (or any authorized committee thereof) or any successor program or plan thereto or thereunder on terms and conditions no less favorable to the Executive than those available to similarly situated executives of the Company, with a target bonus opportunity of the percentage of the Base Salary set forth on EXHIBIT A attached hereto (the "Target Bonus Percentage") and a maximum bonus opportunity of not less than the percentage of the Base Salary set forth on EXHIBIT A attached hereto (the "Annual Bonus Percentage"). The Board (or any authorized committee thereof) shall have the authority to establish performance metrics and such other terms and conditions of the annual management incentive program pursuant to which such bonuses may be earned.
Cash Incentive Compensation. (i) With respect to the Company’s 2009 fiscal year and each fiscal year of the Company thereafter, all or part of which is contained in the Employment Term, the Executive shall participate in the Company’s annual management incentive program or arrangement approved by the Board (or any authorized committee thereof) or any successor program or plan thereto or
(ii) thereunder on terms and conditions no less favorable to the Executive than those available to similarly situated executives of the Company, with a guaranteed target bonus opportunity for 2009 of $2,400,000 and a target bonus opportunity thereafter of $1,600,000 (as applicable, the “Target Bonus Amount”) and a maximum bonus opportunity for 2009 of $4,000,000 and a maximum bonus opportunity thereafter of $3,200,000 (with payment at no less than the Target Bonus Amount if the applicable performance targets are met for the fiscal year); provided, that in no event shall the Executive’s annual bonus for 2009 be less than the Executive’s guaranteed Target Bonus Amount for 2009 of $2,400,000 and in all events the Executive’s annual bonus payable for 2009 will be reduced by the amount of First Year Guaranteed Annual Bonus (as defined in the Prior Agreement) paid to the Executive in June 2009. The Board (or any authorized committee thereof) shall have the authority to establish performance metrics of the annual management incentive program pursuant to which such bonuses may be earned, provided that the Board (or such authorized committee) shall establish such targets with respect to the Executive in consultation with him, which shall be no less favorable to the Executive than the annual performance targets established for the applicable performance period for other senior executives of the Company generally and, in the case of the performance metrics for fiscal year 2009, shall be the metrics attached hereto as Schedule 1. Such annual bonuses shall be paid to the Executive 100% in cash no later than the date such bonuses are generally paid to other senior executives of the Company, but in all events by March 15 of the year following the fiscal year for which such annual bonus was earned (unless the Executive has elected to defer receipt of any such bonuses).
Cash Incentive Compensation. During the term of this Agreement, Employee will be eligible to receive annual or quarterly cash bonuses, based upon performance criteria established from time to time by the Board of Directors of Employer, a committee of the Board, or its authorized delegate, in its sole discretion, and administered pursuant to Employer’s Senior Manager Cash Incentive Plan policy, which is incorporated herein by this reference. The initial performance criteria relating to Employee’s cash incentive awards outstanding as of the Effective Time are set forth in Appendix B, but may be changed by Employer from time to time pursuant to such policy. Unless otherwise determined by Employer, any annual or quarterly bonus shall be prorated to the extent that Employee is employed for less than the full bonus period.
Cash Incentive Compensation. On or before April 1 of each year, the Committee shall recommend to the Company Board the amount, if any, that shall be awarded to all senior executives (including Executive) of the Company who are eligible to participate in the cash incentive compensation program. The Committee shall recommend to the Company Board the cash award, if any, to be paid to Executive up to a maximum of 100% of Executive's Base Salary. The amounts available for distribution under the Company's cash incentive compensation program shall take into account Company financial and operating results. The incentive compensation amount awarded to Executive shall be weighted evenly between Company performance and individual performance to reward both cooperative management efforts to attain Company objectives and individual achievement. Fifty percent of the cash incentive compensation available to Executive shall be based on Company performance and 50% shall be based on the individual performance of Executive. Company performance shall be measured subjectively by the Committee with input from the CEO. The Committee shall evaluate individual performance of the Executive with input from the CEO. The cash incentive compensation, if paid, will be paid to Executive in a lump sum in April of each year.
Cash Incentive Compensation. The Board of Directors, in its sole discretion, may authorize the payment of special cash incentive compensation to Executive from time to time in excess of the amount stated in any documented regular cash incentive plans. Any such special payment of incentive compensation will not set a precedent requiring or suggesting that similar incentive compensation will be paid in the future. The Bank's Board of Directors will consider the adoption of documented regular cash incentive compensation plans whereby the Executive would receive specific cash compensation for the achievement of articulated goals as determined by the Board of Directors. Any such regular cash incentive compensation shall be separate and apart from any special cash incentive compensation.
Cash Incentive Compensation. During the Term, the Executive shall be eligible to receive annual cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be fifty (50) percent of the Executive’s Base Salary, and shall be subject to such thresholds as set forth in the Company’s then current compensation policy and guidelines applicable to executives. The target annual cash incentive compensation in effect at any given time is referred to herein as the “Target Annual Cash Incentive Compensation.” Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid. Payment of the annual cash incentive compensation shall be made by the Company consistent with the Company’s then current compensation policy and guidelines applicable to executives. The Executive shall be entitled to participate in any other bonus plan established by the Board or the Compensation Committee for executives that is in addition to the Target Annual Cash Incentive Compensation.
Cash Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Compensation Committee from time to time in accordance with the Company’s executive annual incentive plan, which terms and conditions shall be communicated to the Executive prior to April 1 (or such other agreed upon period) after the beginning of each calendar year ending after 2013 during the Term. The cash incentive compensation for 2013 shall be determined as if the Executive had been employed by the Employers since January 1, 2013, but shall be offset by any bonus payable by Behringer Harvard Multifamily Advisors I, LLC or its subsidiaries or affiliates (“Behringer Harvard”) for the Executive’s service in 2013. The Executive’s target annual cash incentive compensation shall be 100 percent of his Base Salary. The cash incentive compensation will be predicated on both objective corporate (e.g., EBITDA, FFO, NOI growth, occupancy/leasing goals, investment activity, etc.) and individual measures to be mutually agreed upon between the Executive and the Compensation Committee. The amount of cash incentive compensation awarded to the Executive each year shall be reasonable in light of the contributions made by the Executive for such year in relation to the contributions made and the cash incentive compensation awarded to other senior executives of the Employers for such year. Cash incentive compensation for any year, if awarded by the Compensation Committee, shall be paid in the first 75 days after the beginning of the subsequent calendar year.
