First Year Bonus. Executive shall be eligible to receive a bonus of up to $30,000.00 payable on the next regular paydate following the one year anniversary of the Commencement Date (the “First Year Bonus”), provided Executive is actively employed in good standing on such date. Seventy percent (70%) of the First Year Bonus shall be based upon the Company’s determination of whether the Company has achieved certain designated milestones (such milestones to be communicated to Executive in advance of the Commencement Date) and thirty percent (30%) of the First Year Bonus shall be based upon the Company’s assessment of the Executive’s performance, as determined in the Board’s discretion and judgment.
First Year Bonus. At the conclusion of the first anniversary of the Employment Agreement, and so long as the Employee remains employed with the Company as of that date and has satisfied the below-identified Performance Target(s), Employee will be deemed to have earned, and the Company will pay to Employee within a reasonable time thereafter, an Incentive Bonus equal to the amounts as stated:
First Year Bonus. Upon the completion of the fiscal year ending January 31, 2015 (the “Initial Year”), ValueVision shall pay Executive an initial first year bonus in an amount equal to $381,849 (the “Initial Year Bonus”), which represents a guaranteed bonus determined by multiplying (A) a fraction, the numerator of which is the number of days during the Initial Year from Executive’s date of employment (which was June 23, 2014) and the denominator of which is 365, and (B) 100% of Executive’s Base Salary. The Initial Year Bonus shall be payable during the fiscal year following the Initial Year, consistent with the timing of ValueVision’s payments under its annual cash incentive plan applicable to other senior executives of ValueVision, provided Executive has remained in employment through the date such bonus is paid.
First Year Bonus. Executive will be entitled to receive a one-time signing bonus of up to Two Hundred Thousand Dollar ($200,000.00), subject to applicable tax withholding, and contingent upon the determination by the Board that Xx. Xxxxx has successfully executed a strategic plan developed by the Board that may include the acquisition, joint venture, licensing and/or merger of new business operations or technology in a transaction approved by the Board and the Company’s shareholders, if required, in each case to be achieved prior to the one year anniversary of the effective date of Xx. Xxxxx’x employment agreement. Agreed and Accepted as of the date above: /s/ Xxxxxxx Hinshaw__________________ Xxxxxxx Xxxxxxx, Board Member /s/ Xxxxxxx Kruchko_________________ Xxxxxxx Xxxxxxx, Board Member /s/ Nii Quaye_______________________ Xxx Xxxxx, Board Member Employee: /s/ Xxxxx Budoi_____________________
First Year Bonus. On September 14, 2005, the Employee will receive a bonus in an amount equal to his initial base salary (the “First Year Bonus”). The First Year Bonus will be paid 50% in cash and 50% in the Parent’s Common Stock (with the portion paid in Common Stock calculated from the closing market price of the Common Stock of the Parent on September 14, 2005), subject to withholding from the cash portion for applicable federal and state income and employment taxes. The full portion of the First Year Bonus payable in cash will be paid in eight consecutive installments corresponding to the Parent’s regular payroll payment dates, beginning with the first payroll date following September 14, 2005. The full portion of the First Year Bonus payable in Common Stock of the Parent will be payable on October 15, 2005; provided, that in the event the Common Stock portion of the First Year Bonus is not paid by October 15, 2005, the Employee will have the option to receive the amount due and payable in cash subject to withholding tax, and such amount will be paid in eight consecutive installments corresponding to the Parent’s regular payroll payment dates, beginning with the first payroll date following October 15, 2005.
First Year Bonus. Executive will be entitled to receive a one-time performance bonus of One Hundred and Fifty Thousand Dollars ($150,000.00), subject to applicable tax withholding and paid at the time of Executive’s first regularly scheduled paycheck after the Board approval if prior to the one year anniversary of the Effective Date, any two of the following events occur: (i) the Company has Annualized Revenue, hereafter defined, greater than $7,000,000 as of the twelfth calendar month following the Effective Date (for the purpose of this 4(b)(i) “Annualized Revenue” shall mean the total of (A) the recognized revenue for the 12 completed months following the Effective Date, plus (B) the product of monthly contracted recurring revenue (i.e. the multi-year contracts with clients that have known amounts of annual net revenue) with a term greater than 12 months as of the 12th month after the Effective Date times 12 (e.g. if accumulated recognized revenue for the 12 months following the Effective Date is $5,000,000 and the monthly recurring revenue in the 12th month after the Effective Date equals $200,000 then the Annualized Revenue would be $5,000,000 + ($200,000 x 12) = $7,400,000), plus (C) the annualized revenue of any completed acquisition, merger or similar arrangement with another company, and/or (ii) the Board determines that the Executive has successfully executed a strategic plan approved by the Board, and the shareholders if required, which may include the acquisition, merger, joint venture, or other transaction and/or (iii) has raised capital from new investors in an amount equaling $1,500,000 or more that will enable the execution of a Board approved strategic plan, in each case to be achieved prior to the one year anniversary of the Effective Date . If only one of the above events occur, the Executive will be entitled to a performance bonus of $50,000.00
First Year Bonus. Upon the signing of this Agreement the Company shall pay to Executive a payment of Thirty-nine Thousand Dollars ($39,000.00) less that certain loan to the Executive in the amount of Thirteen Thousand Nine Hundred Dollars ($13,900.00). The full amount ($39,000.00) shall be treated on the books of the Company as reimbursement to Executive for business expenses incurred by Executive in the performance of his duties. Executive agrees to waive and/or abandon any and all claims against Company for any expense reimbursements or other claims arising prior to July 1, 2002.
First Year Bonus. Based upon performance targets established by the Parent’s Board of Directors, within 30 days following the first anniversary of the Agreement, the Employee will receive a bonus in an amount equal to his initial base salary, provided that at least 80% of the performance targets are achieved. Such bonus will be paid 50% in cash and 50% in shares of the Common Stock (based on the closing market price of the Common Stock on the first anniversary of this Agreement), subject to withholding from the cash portion for applicable federal and state income and employment taxes.
First Year Bonus. Based upon performance targets established by the Board of Directors, following the first anniversary of the Agreement the Employee will receive a bonus in an amount equal to (i) 50% of base salary if at least 100% of the performance targets are achieved, (ii) 70% of base salary if at least 120% of the performance targets are achieved, and (iii) 100% of base salary if at least 135% of the performance targets are achieved. Any such bonus will be paid 50% in cash and 50% in shares of the Common Stock (based on the closing market price of the Common Stock on the first anniversary of this Agreement), subject to withholding from the cash portion for applicable federal and state income and employment taxes.
First Year Bonus. Bank shall pay Executive a bonus of Ten Thousand Dollars ($10,000) during December, 2002.
