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
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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 Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • 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.

  • 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.

  • 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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