Common use of Determination of Incentive Bonus Amount Clause in Contracts

Determination of Incentive Bonus Amount. Employee shall be entitled to receive, if earned, a cash incentive bonus (an “Incentive Bonus”) for each calendar year during the Employment Period commencing with the 2015 calendar year in an amount equal to the product of the Bonus Percentage for that calendar year and Employee’s Base Salary for that calendar year. The Bonus Percentage for each calendar year shall be based on the Percentage of Target EBITDA Achieved for that calendar year as follows: If the Percentage of Target EBITDA Achieved for the calendar year then the Bonus Percentage for that calendar year shall be: is less than 90%, 0%. is equal to or greater than 90% but less than 95%, 40%. is equal to or greater than 95% but less than 96%, 60%. is equal to or greater than 96% and less than 100%, 60% + a prorated portion of 40% equal to the ratio of (i) the excess of the Percentage of Target EBITDA Achieved over 95% to (ii) 5%. is equal to 100%, 100% is greater than 100%, 100% + 5% for each additional Percentage of Target EBITDA Achieved over 100%, subject to a cap of 110% of Target EBITDA (i.e., equating to a maximum possible Bonus Percentage of 150%)