Corporate Annual Bonus. Xxxxxx 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 GNCC. The target Incentive Bonus will be between 50% and 100% of Xxxxxx’x base salary during the applicable
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. If Executive’s employment is terminated without Cause before the end of the fiscal year, he will be paid a bonus, after the end of the fiscal year, based on year end corporate results, in proportion to the number of months he worked in the fiscal year.
(a) The amount of the corporate annual bonus will be determined at the sole and absolute discretion of the Company, based on fiscal year end corporate results. Bonus target amounts are generally determined as a percentage of base salary. The target percentage for Executive’s position is currently fifty percent (50%) of his base salary.
(b) The Company reserves the right to alter or discontinue the corporate annual bonus, at any time, at its discretion, but such change or discontinuation willbe effective on a prospective basis. If the corporate annual bonus is altered or discontinued before the fiscal year end, Executive shall be paid a bonus in accordance with the current plan, after the end of the fiscal year, in proportion to the number of months he worked before the bonus plan was altered or discontinued.
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.
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. 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.
(a) The amount of the corporate annual bonus, if any, will be determined by Company in its sole and absolute discretion. Notwithstanding the foregoing, Company agrees to pay Executive a guaranteed corporate annual bonus of 50% of his initial Base Salary for the fiscal year ending June 30, 2006, provided Executive remains employed through and including the last day of the fiscal year.
(b) Except as expressly set forth in subsection 3.3(a) above, Company reserves the right to alter or discontinue the corporate annual bonus on a prospective basis, at any time, at its discretion, on notice to Executive.
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.
(a) The amount of the corporate annual bonus will be determined at the sole and absolute discretion of the Company, based on fiscal year end corporate results. Bonus target amounts are generally determined as a percentage of base salary. The target percentage for Executive’s position is currently twenty percent (20%) of his base salary.
(b) The Company reserves the right to alter or discontinue the corporate annual bonus, at any time, at its discretion, but such change or discontinuation will be effective on a prospective basis. If the corporate annual bonus is altered or discontinued before the fiscal year end, Executive shall be paid a bonus in accordance with the current plan, after the end of the fiscal year, in proportion to the number of months he worked before the bonus plan was altered or discontinued.
