December 31, 2010 Milestone Bonus Sample Clauses

December 31, 2010 Milestone Bonus. A minimum Milestone Bonus of $250,000 will be paid to Executive upon satisfactory to above-satisfactory completion of the identification and realization of $20 million in documented “non-pharmacy related” savings incremental from any savings related to the December 31, 2009 Milestone Bonus, during the period January 1, 2010 to December 31, 2010, as determined by the Compensation Committee in its sole discretion, based on the recommendation of the Company’s Chief Executive Officer and Chief Operating Officer that such milestone goal was achieved during the applicable period. In the event Executive is entitled to receive a Milestone Bonus, such Milestone Bonus shall be paid to Executive in a cash lump sum no later than March 15 following the calendar year in which such Milestone Bonus vests. Notwithstanding the foregoing, in the event of a consummation of a Change in Control of the Company, all Milestone Bonuses shall become payable upon the consummation of a Change in Control, based on the actual achievement of the milestone goals as of the date of the consummation of the Change in Control, as determined by the Compensation Committee based on the recommendation of the Company’s Chief Executive Officer and Chief Operating Officer; provided, that such Change in Control constitutes a “change in the ownership or effective control of a corporation” with respect to Health Net, Inc., as defined in Treasury Regulation Section 1.409A-3(i)(5). If it is determined that any such milestone goals have been partially achieved, the related Milestone Bonus (if any) will be prorated based upon the portion of the milestone goal achieved as of the date of the consummation of the Change in Control. In the event of a Change in Control, any Milestone Bonus (or portion thereof) that becomes payable as the result of the Change in Control shall be paid to Executive within ten (10) business days following the consummation of the Change in Control.
Sample 1
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Related to December 31, 2010 Milestone Bonus

  • Quarterly Bonus The Employee shall be eligible to be paid a quarterly bonus earned in accordance with the terms set forth on Exhibit 3.2.

  • 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.

  • 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 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.

  • 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.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Change in Control Bonus “Change in Control Bonus” has the meaning set forth in Section 5a(iii)(1).

  • Annual Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • 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.

  • 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.

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