EBITDA Bonuses for Successive Bonus Years Sample Clauses

EBITDA Bonuses for Successive Bonus Years. For each one year period following the 2008 Bonus Year (each, a “Bonus Year”), if the Combined EBITDA achieved for such Bonus Year equals or exceeds the Combined EBITDA achieved for immediately preceding Bonus Year (the “Prior Year Combined EBITDA”), then Employee shall be entitled to receive a cash bonus equal to the sum of the following: (A) five percent (5%) of the positive Combined EBITDA achieved for such Bonus Year equal to the amount of the Prior Year Combined EBITDA; (B) ten percent (10%) of the first five million dollars ($5,000,000) of positive Combined EBITDA achieved for such Bonus Year in excess of the Prior Year Combined EBITDA; and (C) five percent (5%) of any positive Combined EBITDA achieved for such Bonus Year in excess of (1) the Prior Year Combined EBITDA plus (2) five million dollars ($5,000,000). If the Combined EBITDA achieved for such Bonus Year is less than Prior Year Combined EBITDA, then Employee shall not receive any EBITDA bonus for such Bonus Year. For illustrative purposes only, if the Combined EBITDA achieved for a Bonus Year is seven million dollars ($7,000,000), and the Prior Year Combined EBITDA was one million five hundred thousand dollars ($1,500,000), then Employee would be entitled to an EBITDA bonus for such Bonus Year of six hundred thousand dollars ($600,000), which is equal to (1) 5% of the $1,500,000 of Combined EBITDA for such Bonus Year that is equal to the Prior Year Combined EBITDA, or $75,000, plus (2) 10% of the first $5,000,000 of Combined EBITDA for such Bonus Year in excess of the Prior Year Combined EBITDA, or $500,000, plus (3) 5% of the remaining $500,000 of Combined EBITDA for such Bonus Year, or $25,000.
Sample 1
AutoNDA by SimpleDocs

Related to EBITDA Bonuses for Successive Bonus Years

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Incentive Bonuses The Employee shall be eligible to be considered for an annual incentive bonus with a target amount equal to 50% of his Base Compensation. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Company's Board of Directors (the "Board") or its Compensation Committee. The determinations of the Board or such Committee with respect to such bonus shall be final and binding.

  • 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”):

  • Annual Cash Incentive Executive shall be eligible to participate in the Company’s management cash incentive plan and any successor annual cash plans. Executive shall have the opportunity to earn an annual target cash incentive, measured against performance criteria to be determined by the Company’s Board (or a committee thereof) having a target value of not less than 70% of Base Salary.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Cash Bonuses The Chief Executive Officer shall determine the Executive’s right to receive cash bonuses. Cash bonuses shall be awarded annually based upon the Executive’s and the Company’s annual performance pursuant to the Company’s policy. 5.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

Time is Money Join Law Insider Premium to draft better contracts faster.