Growth Bonus Plan Sample Clauses

Growth Bonus Plan. For the fiscal year ending April 30, 2011, and for each subsequent fiscal year during the term of the Administrative Services Agreement and any renewals or extensions thereof, the Managing Directors may be eligible for a growth bonus based on growth in Location Contribution, as determined on a consistent basis, over the Reference Year (as defined below), determined as follows: (i) in a fiscal year where there is 6 to 10% growth in Location Contribution over the Reference Year, for such fiscal year, and only such fiscal year, (I) 33% of the Location Contribution up to the 6% growth level and 20% of the incremental Location Contribution dollars above 6% growth will be retained by RSMM and (II) 67% of the Location Contribution up to the 6% growth level and 80% of the incremental Location Contribution dollars above 6% growth will be payable as compensation to the Managing Directors; (ii) in a fiscal year where there is 10 to 15% growth in Location Contribution over the Reference Year, for such fiscal year, and only such fiscal year, the provisions of paragraph (i) above will apply up to the 10% growth level and (I) 15% of the incremental Location Contribution dollars above 10% growth will be retained by RSMM and (II) 85% of the incremental Location Contribution dollars above 10% growth will be payable as compensation to the Managing Directors; and (iii) in a fiscal year where there is growth in Location Contribution over the Reference Year which is above 15%, for such fiscal year, and only such fiscal year, the provisions of paragraphs (i) and (ii) above will apply up to the 15% growth level and (I) 10% of the incremental Location Contribution dollars above 15% growth will be retained by RSMM and (II) 90% of the incremental Location Contribution dollars above 15% growth will be payable as compensation to the Managing Directors. For purposes of this Section 2(b), annual growth in Location Contribution will be determined by comparing the current fiscal year’s growth to the previous fiscal year’s Location Contribution unless such amount is lower than any prior fiscal year, in which case the comparison shall be made against the highest prior fiscal year (in each case, the “Reference Year”). The parties agree that the initial Reference Year for purposes of measuring growth in Location Contribution shall be the fiscal year ending April 30, 2010, such that, for example, the fiscal year ending April 30, 2010 will be treated as the highest previous year for earnings pu...
Sample 1
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Related to Growth Bonus Plan

  • 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.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • 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.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • 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.

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