Corporate Annual Bonus Sample Clauses

Corporate Annual Bonus. Xxxxxxxxx will be eligible to earn an annual discretionary incentive bonus based on a percentage of her base salary (the “Incentive Bonus”), subject to the terms and conditions of the Xxxxxx Xxxxxxx Corporation and Subsidiaries Performance and Profitability Based Annual Incentive Plan (the “Bonus Plan”) and the achievement by the Bank’s performance goals. The actual amount of the Incentive Bonus shall be determined by the GNCC, in its sole discretion. The grant of the Incentive Bonus hereunder shall be subject to typical and reasonable performance measures in the sound judgment of the

AutoNDA by SimpleDocs

Corporate Annual Bonus. In addition to the base salary, Executive will be eligible to earn a corporate annual bonus based upon fiscal year end corporate results and contingent upon his employment on the last day of the applicable fiscal year. The bonus will be paid in the pay period after fiscal year end corporate results are audited and approved by the Vice President of Finance.

Corporate Annual Bonus. In addition to the Base Salary, Executive will be eligible to earn an annual bonus of up to fifty percent (50%) of Executive’s Base Salary based upon fiscal year-end corporate results, provided Executive remains employed by Company through and including the last day of the applicable fiscal year. The bonus, if any, will be paid in the pay period after fiscal year-end corporate results are audited and approved by the Vice President of Finance. If Executive’s employment terminates either voluntary or involuntary for any reason whatsoever prior to the last day of any fiscal year, Executive will not be eligible to earn a bonus for that fiscal year or any prorated amount thereof.

Corporate Annual Bonus. Bank agrees to pay Xxxxxxxx a corporate annual bonus, in accordance with any Five Star Bank performance-and-profitability-based annual incentive plan in place during the Term of Employment, as defined in Article 1.3 hereinabove, so long as Xxxxxxxx remains an employee of Bank in good standing through the date of the respective payments.

Corporate Annual Bonus. Bank agrees to pay Xxxxx a corporate annual bonus, in accordance with any Bank performance-and-profitability-based annual incentive plan in place during the Term of Employment, as defined in Article 1.3 hereinabove, if Xxxxx has performed all of his obligations under Article 2 above in an exemplary manner and is and remains an employee in good standing at Bank through the end of each year of the Term of Employment. The grant of the corporate annual bonus hereunder shall be subject to typical and reasonable performance measures in the sound judgment of the Board of Bank. The parties anticipate that the corporate annual bonus will be between 50% and 100% of Xxxxx’ Base Salary during the applicable year.

Related to Corporate Annual Bonus

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 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.
Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):
Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.
Bonus The Executive shall be eligible for Bonuses determined by the Board.
Base Salary and Incentive Compensation The Company shall pay to Executive (i) his Base Salary (as in effect as of the date of his termination) and (ii) Incentive Compensation (in an aggregate amount equal to the applicable portion of the cash Incentive Compensation received by the Executive for the most recent fiscal year prior to his termination) as follows: Years of Base Payout Service Salary Incentive Compensation Period Less than one 3 months 25% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 3 months One but less than two 6 months 50% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 6 months Two but less than three 9 months 75% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 9 months Three or More 12 months 100% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 12 months To the extent permitted under Code Section 409A, the sum of applicable Base Salary and Incentive Compensation shall be divided into equal monthly payments and paid to the Executive over the applicable Payout Period shown in the table above, depending on the Executive’s years of service at the time of Termination.
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.
Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and
Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).
Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.