Executive Incentive Plan Sample Clauses
The Executive Incentive Plan clause establishes the framework for providing performance-based compensation to executives within an organization. Typically, this clause outlines the eligibility criteria, performance metrics, and the types of incentives—such as bonuses, stock options, or other rewards—that executives may receive based on achieving specific goals. By clearly defining how and when incentives are awarded, this clause motivates executives to meet organizational objectives and aligns their interests with the company's success, while also ensuring transparency and consistency in compensation practices.
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Executive Incentive Plan. The Executive shall be eligible to participate in an Executive Incentive Plan, to be defined and adopted by the Board on or before the first anniversary of the Effective Date of this Amended Agreement, through which the Executive may be eligible to receive an Annual Executive Incentive Bonus, consisting of cash, stock and/or any other compensation deemed appropriate by the Compensation Committee, subject to meeting prerequisite criteria as established by the Board.
Executive Incentive Plan. Upon entering into this Agreement, Employee shall invest not less than $200,000 in cash in exchange for shares of the Company's parent's common stock, which investment will be matched by the Company on a 4 to 1 basis by a grant of restricted shares, subject to and in accordance with the terms and conditions of the Company's Executive Incentive Plan ("EIP"). Such investment shall be made by the Company applying $200,000 from the payments specified in Section 4(b) below. In connection with the foregoing and as a condition to the purchase of such shares, Employee agrees to execute such documents and take such other action as may reasonably be required by Company or the Company's parent, including, but not limited to, executing a subscription agreement in a form satisfactory to the Company's parent and executing a counterpart to the Investor Stockholders Agreement, dated as of June 16, 2005, by and between the Company's parent and the stockholders of the Company's parent.
Executive Incentive Plan. (a) Promptly after the date hereof, the Company shall communicate and explain the terms of the 2006 Executive Incentive Plan to all employees covered by such Plan and shall use reasonable best efforts to cause all such employees to be bound by the terms thereof.
(b) The Company agrees that, without Parent’s consent, it shall not make and shall not agree to make any changes to the terms of the Executive Incentive Plan.
Executive Incentive Plan. I will be eligible to receive an Executive Incentive Plan (EIP) payment for Fiscal Year 2004. Such payment will be based solely on the actual corporate performance as established in the beginning of such fiscal year, with no discretionary adjustment made to it. This amount will be paid in a single lump sum payment in cash (or deferred if previously elected) at the time all other EIP participants receive payment.
Executive Incentive Plan. The Company will pay Executive her 2025 prorated EIP bonus. This payment will be made at the time of the normal bonus payments, no later than March 15, 2026. The bonus calculation will be based, in the Company’s sole discretion, on the Company’s overall performance and the overall terms of the Company’s bonus program.
Executive Incentive Plan. You will be eligible for the 2013 Executive Incentive Plan (“EIP”). Your EIP bonus opportunity will be prorated from your effective hire date and your target incentive amount will be equal to 70% of your annualized base salary. The EIP plan can payout anywhere between zero and 150% of target if the company’s performance exceeds the performance goals. The actual amount of any such bonus will be determined in accordance with the terms of the EIP. You must be employed on the last day of the bonus year to be eligible for any bonus payout, where applicable. Additional information regarding the 2013 program will be made available to you in March. For the 2013 EIP, you will receive the greater of 50% of your target incentive amount ($175,000) or the actual amount earned in accordance with the actual plan results for the year. This payout would occur in the same time frame as other incentive payments.
Executive Incentive Plan. The Executive shall be entitled to participate each year in the Corporation's Executive Incentive Share Purchase Plan or any successor plan thereto (all such plans referred to in the aggregate as the "EISPP") to the extent that the Executive's performance exceeds 100% of the annual performance objectives established for him. Any award earned for 2006 shall be prorated to reflect employment in 2006 following the Hire Date. The EISPP is governed by its terms and is subject to amendment to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code").
Executive Incentive Plan. In addition to the Base Salary, and as an incentive for the Executive to stretch for early achievement of the approved business strategy, the Company shall pay to Executive an award ("Executive Award"), with such award having a minimum payout of 20% and a potential maximum payout of 100% of his then annual base salary of record, payable annually during each year of the term. The Executive Award will be based on a formula, which is to be developed and approved by the Board and the Executive. The Board will use this formula to evaluate the accomplishment of pre-stated financial and non-financial results and/or milestone achievements by the Executive during the first three years of the Term. Details of the Executive Incentive Plan and a Plan document are to be completed no later than ninety [90] days after the effective commencement date of this Agreement.
Executive Incentive Plan. You are eligible for success based commission amounts for the Company’s achievement of Net Billing targets that are set on an annual basis (which for the current year effective from January 1, 2024 is set out in Exhibit B. These success based commission amounts will be paid upon successful completion, or partial completion of the targets when the product has been delivered and invoiced and the customer has paid, completing the revenue recognition process.
Executive Incentive Plan. Seller will determine what bonuses, if any, are due to employees of the Company for the period through the Closing Date under the Company's Executive Incentive Plan (the "Incentive Plan"). Seller will notify Buyer of the amount due thereunder and Buyer will pay such amount directly, subject to immediate reimbursement from Seller of such amount plus any payroll taxes thereon. Seller's calculation of the amount due under the Incentive Plan will be conclusive.