Fiscal Year 2023 Short Term Incentive Bonus Sample Clauses

Fiscal Year 2023 Short Term Incentive Bonus. A lump sum amount equal to (i) Executive's annual bonus (if any) that Executive otherwise would have earned for fiscal year 2023 (had Executive remained employed for the entirety of such year), as determined at the Compensation Committee's discretion multiplied by (ii) 60.27%, representing the Executive's prorated number of completed days in fiscal year 2023. Any such payment will be made at the same time as other payouts (if any) under the applicable bonus plan for the Company's fiscal year 2023 and will be in lieu of any other payment to be made to the Executive under the annual bonus plan for fiscal year 2023, other than as may be specifically provided in subsection (c) below. Executive is responsible for notification to the company in any change of address or banking information in order to make any award payment timely. For the avoidance of doubt, in the event the Compensation Committee approves any payment under the annual bonus plan for fiscal year 2023 as a general matter to executive officers of the Company (as "Executive Officer" is defined under Rule 3b-7 of the Securities Exchange Act of 1934), Executive will be entitled to a payment under such plan in accordance with the calculation methodology set forth in this section l(b).
Sample 1
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Fiscal Year 2023 Short Term Incentive Bonus. A lump sum amount equal to (i) Executive's annual bonus (if any) that Executive otherwise would have earned for fiscal year 2023 (had Executive remained employed for the entirety of such year), as determined at the Compensation Committee's discretion multiplied by (ii) 4.93%, representing the Executive’s prorated number of completed days in fiscal year 2023. Any such payment will be made at the same time as other payouts (if any) under the applicable bonus plan for the Company’s fiscal year 2023 and will be in lieu of any other payment to be made to the Executive under the annual bonus plan for fiscal year 2023. Executive is responsible for notification to the company in any change of address or banking information in order to make any award payment timely.
Sample 1

Related to Fiscal Year 2023 Short Term Incentive 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.

  • 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.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • 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 Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • 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 Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

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