Circulation Incentive Bonus Sample Clauses

Circulation Incentive Bonus. Per the attached plan (Exhibit “B”), Executive will be eligible to earn, on a weekly basis, an incentive based on the unit sales of the Company’s publications identified in Exhibit “B”. The weekly Target Bonus (“Target Bonus”) is $17,307.69 per week (52 weeks x $17,307.69 = $900,000.00). The calculation is based on achieving a predetermined base unit sales level. The base unit sales level during the first plan year will be approximately the average sales of the Company’s publications during the 13 weeks (for publications published monthly, the average unit sales will be based on the last twelve issues) preceding the first plan year. The base unit sales for each future year will be the lower of (i) approximately the average sales of the Company’s publications during the 13 weeks (for publications published monthly, the average unit sales will be based on the last twelve issues) preceding the applicable plan year, or (ii) 105% of the base unit sales level upon which the Target Bonus was calculated during the prior plan year; provided, however, in no event will the base unit sales level for any future year be below the base unit sales level for the immediately preceding plan year. Executive may exceed the Target Bonus amount by increasing sales beyond the targeted unit sales amount. Payments under this plan will be made weekly, based upon scan estimates received each Wednesday. Adjustments to these estimates, either positive or negative, and the related payment will be made for the period of time that the Company accepts returns under the terms of its national distributor contract. There is no limit on the amount payable to Executive under the Circulation Incentive Plan. Executive is guaranteed a minimum of at least $500,000.00 (Five Hundred Thousand Dollars and Zero Cents) in Circulation Incentive Bonus during Executive’s first year of employment with the Company, which will be paid to Executive at the rate of $17,307.69 per week until the $500,000.00 guarantee is met. Notwithstanding that the Target Bonus will be calculated and paid weekly as described above, reconciliation of payments due will be made as of the end of each plan year based upon actual circulation levels achieved on a cumulative basis for such plan year as compared to the base unit sales level for that plan year. If the actual sales level achieved for the year is between 95% and 100% of the base unit sales level, Executive will be paid that percentage of her Target Bonus for such plan year l...
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Related to Circulation Incentive Bonus

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • 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.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

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