Cash Incentives for Growth in Overall Revenue Sample Clauses

Cash Incentives for Growth in Overall Revenue. Subject to the approval of the Board, beginning with fiscal year 2017 and ending at the end of the fiscal year during which the Company first achieves annual revenue of at least $500 million, you will be eligible to earn up to the following amounts: (a) a one-time cash bonus of $300,000 when annual net revenue exceeds $300 million; (b) a one-time cash bonus of $400,000 when annual net revenue exceeds $400 million; and (c) a one-time cash bonus of $500,000 when annual net revenue exceeds $500 million (each of $300 million, $400 million and $500 million, a “Revenue Milestone”). If two (or more) annual Revenue Milestones are first achieved during a single fiscal year, you will be paid the sum of the bonus amounts that relate to each Revenue Milestone achieved during such year. If, following achievement of a Revenue Milestone, the Company’s annual revenue for a subsequent fiscal year is less than the previously achieved Revenue Milestone, the next Revenue Milestone is voided and no bonus will be paid for achievement of such next Revenue Milestone.
Sample 1
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Cash Incentives for Growth in Overall Revenue. Beginning with fiscal year 2018 and during the remainder of the Incentive Period during which you continue to serve as the Company’s PCEO, you will be eligible to earn up to the following cash bonus amounts if the specified net revenue goal is achieved: (a) a one-time cash bonus of $300,000 when annual net revenue for the Company exceeds $300 million; (b) a one-time cash bonus of $400,000 when annual net revenue for the Company exceeds $400 million; and (c) a one-time cash bonus of $500,000 when annual net revenue for the Company exceeds $500 million (each of $300 million, $400 million and $500 million, a “Revenue Milestone” and the three awards specified above each referred to as an “Overall Revenue Award”)). Any payment earned under clauses (a), (b) or (c) above shall be paid within 60 days of certification of the applicable Revenue Milestone achievement by the Board or its Compensation Committee, provided you are employed as PCEO on the payment date. If two (or more) annual Revenue Milestones are first achieved during a single fiscal year, you will be paid the sum of the bonus amounts that relate to each Revenue Milestone achieved during such year. Once the performance objective of a particular Overall Revenue Award is achieved and you receive payment of the bonus related to that award, that particular award terminates. You acknowledge and agree that the aggregate value of the Overall Revenue Awards, together with any other cash-based incentive awards granted during fiscal year 2018 that are intended to qualify as “performance-based compensation” under Code Section 162(m) (including any 2018 Product Line Incentive Award), shall be subject to the annual maximum aggregate value limitation set forth in the Long-Term Incentive Plan. GDSVF&H\2606147.13
Sample 1
Cash Incentives for Growth in Overall Revenue. You will continue during the remainder of the Incentive Period during which you serve as the Company’s PCEO to be eligible to earn up to the following bonus amounts if the Board or Compensation Committee determine and certify that the specified Net Revenue goal is achieved: (a) a one-time bonus of $300,000 when annual Net Revenue for the Company exceeds $300 million; (b) a one-time bonus of $400,000 when annual Net Revenue for the Company exceeds $400 million; and (c) a one-time bonus of $500,000 when annual Net Revenue for the Company exceeds $500 million (each of $300 million, $400 million and $500 million, a “Revenue Milestone,” each of the bonus amounts, a “Bonus,” and each of these awards referred to as an “Overall Revenue Award”). Whether a Revenue Milestone has been achieved shall be determined and certified by the Board or Compensation Committee based upon the final “Revenue, net” number disclosed in the Company’s applicable Form 10-K filing, with the determination of such number deemed to occur on the date of such filing (such date, the “Milestone Date”). If two (or more) annual Revenue Milestones are first achieved during a single fiscal year, you will be paid the sum of the Bonuses that relate to each Revenue Milestone achieved during such year. Once the performance objective of a particular Overall Revenue Award is achieved and you receive payment of the Bonus related to that award, that particular award terminates. For the sake of clarity, you must continue to serve as the Company’s PCEO as of the applicable payment date with respect to an Overall Revenue Award. The Board intends that each Overall Revenue Award will be satisfied by the grant to you, within 10 business days of the Milestone Date, of a RSU award having a grant date value equal to 105% of the applicable Bonus, on the terms described below; provided however that the Board in its discretion may instead determine that the Overall Revenue Award will be settled in cash in an amount equal to 100% of the Bonus, payable within 10 business days following the Milestone Date. The date of payment for a Overall Revenue Award shall be the award grant date if the award is satisfied through the grant of RSUs and the date of receipt of funds if it is satisfied in cash. The date of payment of cash under (1) above or the grant date of a RSU under (2) above is the “payment date” with respect to an Overall Revenue Award. If the Board or Compensation Committee, as applicable, determines to satisfy its...
Sample 1

Related to Cash Incentives for Growth in Overall Revenue

  • Annual Cash Incentive Executive shall be eligible to participate in the Company’s management cash incentive plan and any successor annual cash plans. Executive shall have the opportunity to earn an annual target cash incentive, measured against performance criteria to be determined by the Company’s Board (or a committee thereof) having a target value of not less than 70% of Base Salary.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • 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.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Incentive Bonuses The Employee shall be eligible to be considered for an annual incentive bonus with a target amount equal to 50% of his Base Compensation. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Company's Board of Directors (the "Board") or its Compensation Committee. The determinations of the Board or such Committee with respect to such bonus shall be final and binding.

  • EBITDA With respect to REIT and its Subsidiaries for any period (without duplication): (a) Net Income (or Loss) on a Consolidated basis, in accordance with GAAP, exclusive of the following (but only to the extent included in determination of such Net Income (Loss)): (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense; plus (b) such Person’s pro rata share of EBITDA of its Unconsolidated Affiliates as provided below. With respect to Unconsolidated Affiliates and Subsidiaries of Borrower that are not Wholly Owned Subsidiaries, EBITDA attributable to such entities shall be excluded but EBITDA shall include a Person’s Equity Percentage of Net Income (or Loss) from such Unconsolidated Affiliates or such Subsidiary of Borrower that is not a Wholly Owned Subsidiary plus its Equity Percentage of (i) depreciation and amortization expense; (ii) Interest Expense; (iii) income tax expense; (iv) Acquisition Closing Costs and extraordinary or non-recurring gains and losses (including, without limitation, gains and losses on the sale of assets) and income and expense allocated to minority owners; and (v) other non-cash items to the extent not actually paid as a cash expense.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Adjustment for Dividends in Other Stock, Property, etc Reclassification, etc. In case at any time or from time to time after the Original Issue Date the holders of Common Stock (or Other Securities) shall have received, or (on or after the record date fixed for the determination of stockholders eligible to receive) shall have become entitled to receive, without payment therefor

  • Incentive Payment During the period of Executive's employment under this Agreement, the Executive shall be eligible to participate in an incentive compensation program implemented by the Board (the "Annual Incentive Bonus").

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

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