Discretionary Bonus Plan Sample Clauses

Discretionary Bonus Plan. Company has a discretionary bonus plan for key executives. Employee shall be entitled to participate in such discretionary bonus plan.

Discretionary Bonus Plan. The Executive shall be eligible to participate in the Company's Discretionary Bonus Plan (the "Bonus Plan"), as may be amended from time to time on the following terms: (a) in the first year of this Agreement, the Executive shall be eligible to receive up to 60% of his Base Salary as cash bonus, based on prescribed written performance milestones agreed between the Executive and the Board of Directors of the Company within 60 days of the Effective Date of this Agreement; (b) thereafter, the Executive and the Company shall agree in advance of the start of the next year of employment on the prescribed written performance objectives with the following targets under the Bonus Plan: (i) after the completion of the second year of employment under this Agreement, the Executive shall be eligible to receive up to 70% of his Base Salary as a cash bonus; (ii) after the completion of the third year of employment under this Agreement, the Executive shall be eligible to receive up to 80% of his Base Salary as a cash bonus; (iii) after the completion of the fourth year of employment under this Agreement, the Executive shall be eligible to receive up to 90% of his Base Salary as a cash bonus; and (iv) after the completion of the fifth year of employment under this Agreement, the Executive shall be eligible to receive up to 100% of his Base Salary as a cash bonus. (c) subject to the terms and conditions below, any cash bonus payable under the Bonus Plan is generally payable within 60 days of completion of the applicable anniversary year; (d) by delivery of written notice to the Company at any time prior to the date of payment of a bonus that has been earned by the Executive under this Section 3.2, the Executive may elect to convert 50% of any cash payments under this Section 3.2 to Class B shares of the Company at a price per share equal to the market price (in CAD$) of Class B shares of the Company at the close of business on the Canadian Securities Exchange on the date of notice.

Discretionary Bonus Plan. Employee will be eligible to participate in such discretionary bonus plans as the Company may establish from time to time for similarly situated employees of the Company, in accordance with the terms of any such plans and any amendments thereto. This subparagraph shall not be construed to require the Company to provide any discretionary bonus plans or programs. The Company may terminate or modify such plans or programs at any time, in its sole discretion.

Discretionary Bonus Plan. Company is in the process of developing ------------------------ a discretionary bonus plan for key executives Employee shall be entitled to participate in such discretionary bonus plan. Employee shall additionally receive a Five Thousand Dollar ($5,000.00) bonus on March 31, 1996 providing you are still actively employed by Women's Bank on that date.

Discretionary Bonus Plan. Employee shall be entitled to ------------------------ participate in such discretionary bonus plan as may be adopted and amended, from time to time, by the Company.

Discretionary Bonus Plan. The Executive shall be eligible to participate in the Company's Discretionary Bonus Plan (the "Bonus Plan"), as may be amended from time to time. The bonus will be based on prescribed written performance milestones to be discussed between the Executive and the CEO, and established by the CEO, the final amount to be determined in the discretion of the CEO, subject to certain other factors, including the Company's performance, financial stability, and availability of cash. The amount Executive will be eligible to earn are: (a) in the first year of this Agreement, (i.e., ending August 31, 2024) the Executive shall be eligible to receive a bonus of up to 60% of his Base Salary. (b) thereafter, the Executive shall be eligible to receive an annual discretionary bonus as follows: (i) after the completion of the second year of employment under this Agreement, the Executive shall be eligible to receive up to 70% Base Salary. (ii) after the completion of the third year of employment under this Agreement, the Executive shall be eligible to receive up to 80% Base Salary. (iii) after the completion of the fourth year of employment under this Agreement, the Executive shall be eligible to receive up to 90% Base Salary; and (iv) after the completion of the fifth year of employment under this Agreement, the Executive shall be eligible to receive up to 100% of Base Salary. (c) subject to the terms and conditions below, any cash bonus payable under the Bonus Plan is generally payable within 60 days of completion of the applicable anniversary year. (d) the Executive must be in the active employment of the Company in order to receive any payment under the Bonus Plan. No period of notice whether occasioned by the Executive or the Company shall be considered active service. (e) the Executive shall be entitled to a pro-rated Bonus for any partial year only if this Agreement is terminated in accordance with Section 3.4; (f) any discretionary bonus under this Section 3.4 does not accrue after the Executive gives or receives notice of termination and is only earned and payable as noted above in this Section 3.4, regardless of whether such termination is with or without notice, adequate notice or legal notice or is with or without legal or just cause. The Executive's rights to an annual bonus shall be strictly limited to those provided in this Section 3.4. Unless otherwise specifically provided in writing, the Executive shall have no claim to, or in respect of, any discretionary bonu...

Discretionary Bonus Plan. Additionally, you will be eligible to participate in Great Elm’s Discretionary Bonus Plan. The Plan year is July 1st through June 30th and such bonuses are paid on an annual basis on or around September 15 (“Discretionary Bonus Plan”). Your target bonus under the Plan will be up to $190,000 for a full 12 months of employment service in this capacity, of which the target will be 50% cash and 50% equity, all subject to applicable tax withholdings. Equity will be granted in a mix of Restricted Shares of GEG stock and GECC stock owned by GEG, issued at the Board’s sole discretion, both subject to a vesting schedule. For the avoidance of doubt, the target bonus for the 2023 fiscal year will be prorated based on time served in this expanded role and time served in your former role as CFO of GECC. It is understood and agreed that the Discretionary Bonus Plan and cycles discussed in this Section 4 are not a contractual entitlement or expectation that a bonus will be received. If Great Elm, in its discretion, makes a bonus payment in respect to a particular bonus year, such an award does not imply any expectation or entitlement in respect of future bonus years or any other periods. Great Elm retains the sole right to modify the payment schedule of the Discretionary Bonus Plan in its discretion and all determinations by Great Elm regarding the interpretation and application of such program shall be final and binding.

Discretionary Bonus Plan. For the period of Employee's employment, Employee will be eligible to participate In the Enstar annual discretionary performance bonus program established by Enstar from time to time. Currently, the Discretionary Bonus Plan is based upon Employee's performance and the profitability of Enstar. Payment of a bonus, if any, is not a wage and is not earned or accrued or payable until the date that it is actually tendered to Employee. If awarded, any bonus shall be payable at such time as the Company pays annual bonuses generally to its employees, but in no event later than April 30 following the end of each year; provided, however, that the payment of any bonus Is conditioned upon Employee being actually employed by the Company on the date bonuses are paid to the Company's employees that year. (A) For the performance period beginning on Employee's Start Date and ending on December 31, 2016, Employee will receive a bonus of no less than One Hundred Fifty Thousand Dollars ($150,000), provided that Employee has not either been terminated for Cause or resigned prior to the date bonuses are paid to the Company's employees that year. (B) For performance year periods beginning on January 1, 2017, Employee’s target bonus is 100% of Base Salary.

Discretionary Bonus Plan. Employee will be eligible to participate in such discretionary bonus plans as the Company may establish from time to time for similarly situated employees of the Company, in accordance with the terms of any such plans and any amendments thereto. Employee shall be eligible to receive a performance bonus of up to fifty percent (50%) of his annual base compensation, provided that (i) the Company, in its sole discretion, awards such bonuses in a given year and (ii) Employee meets certain performance criteria as established by the Company upon consultation with Employee; provided, however, that Employee will receive a bonus payment in the first year of the Initial Term of at least twenty percent (20%), but no more than fifty percent (50%), of his annual base compensation (the “Mandatory Bonus”), of which $25,000 will be paid to Employee on the Effective Date or within a reasonable time thereafter (but in no event later than December 31, 2009), and the remainder of such Mandatory Bonus will be calculated and paid to Employee in January 2010. For the avoidance of doubt, Employee will receive the Mandatory Bonus for his first year of employment with the Company in an amount totaling at least $50,000, but may receive an additional amount in accordance with the Company’s discretionary bonus plan and subject to the conditions set forth in subsections (i) and (ii) of this Section 3(e). Except as otherwise provided herein, this Section 3(e) shall not be construed to require the Company to provide any discretionary bonus plans or programs. The Company may terminate or modify such plans or programs at any time, in its sole discretion.

Discretionary Bonus Plan. Provided that Employee (i) has remained actively serving in the position of Senior Vice President and Chief Financial Officer through December 31, 2012 or, if the Ending Date has been extended, to the extended Ending Date; and (ii) the Company determines in its sole and absolute discretion and unfettered judgment that Employee’s performance during such calendar year has been exemplary, then Company may in its sole and absolute discretion, without any obligation to do so, pay Employee a Discretionary Bonus for such calendar year in the amount of $20,000 subject to all applicable withholding amounts.