Incentive and Bonus Compensation Sample Clauses
The Incentive and Bonus Compensation clause outlines the terms under which employees or contractors may receive additional compensation beyond their base pay, typically tied to performance metrics or achievement of specific goals. This clause details the criteria for earning bonuses, such as meeting sales targets, project milestones, or company profitability thresholds, and may specify the timing and method of payment. Its core function is to motivate individuals to achieve higher performance levels by providing financial rewards, thereby aligning their interests with those of the organization and fostering productivity.
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Incentive and Bonus Compensation. The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.
Incentive and Bonus Compensation. (i) For service rendered during the Company’s fiscal year ending December 31, 2009, the Executive will be eligible, at the Compensation Committee’s discretion, to receive a bonus payment equal to 50% of Base Salary, payable in accordance with the terms of the Company’s 2009 Annual Incentive Plan. For the remainder of the term hereof, the Executive shall be entitled to participate in the Company’s Annual Incentive Plan (the “Annual Incentive Plan”) on terms to be determined annually by the Compensation Committee prior to the commencement of each fiscal year. Nothing contained herein shall obligate the Company to continue the Annual Incentive Plan. Any compensation paid to the Executive under the Annual Incentive Plan shall be in addition to the Base Salary. Except as otherwise expressly provided under the terms of the Annual Incentive Plan or this Agreement, the Executive shall not be entitled to earn bonus or other compensation for services rendered to the Company.
Incentive and Bonus Compensation. During the term hereof, the Executive shall be entitled to participate in the Company's Executive Incentive Plan, in accordance with the terms thereof, as such terms may be modified or amended by the Company from time to time; provided, however, that nothing contained herein shall obligate the Company to continue such incentive compensation program. The Executive's target incentive bonus under the Executive Incentive Plan is 40% of his Base Salary. Such target may be modified by the Company from time to time, in its sole discretion. Any compensation paid to the Executive under the Executive Incentive Plan shall be in addition to the Base Salary.
Incentive and Bonus Compensation. During the Employment Period, the Executive shall be paid an annual cash bonus (“Annual Bonus”) with a target level of 40% of Annual Base Salary (the “Target Bonus”). Any such bonus shall be subject in all respects to the terms and conditions of the Synageva BioPharma Corp. Annual Cash Bonus Plan.
Incentive and Bonus Compensation. The Executive shall continue to participate in the Company’s current performance bonus program as described in Exhibit A attached hereto. Further, if any other incentive or bonus compensation programs are made available to executives of the Company, generally, the Executive shall be entitled during the term hereof to participate in such program in accordance with the terms thereof, as such terms may be modified or amended by the Company from time to time; provided, however, that nothing contained herein shall obligate the Company to adopt or continue such additional incentive or bonus compensation programs. Any compensation paid to the Executive under such an incentive or bonus compensation program shall be in addition to the Base Salary.
Incentive and Bonus Compensation. If an incentive or bonus compensation program is made available to executives of the Company generally and the Executive is not then covered by any incentive or bonus compensation program, the Executive shall be entitled during the term hereof to participate in such program in accordance with the terms thereof, as such terms may be modified or amended by the Company from time to time; provided that the maximum bonus opportunity for the Executive under any such program shall be not less than thirty percent (30%) of the Base Salary; and provided further, however, that nothing contained herein shall obligate the Company to adopt or continue such an incentive or bonus compensation program. In the absence of such a program, however, the Executive shall be considered annually by the Board for a bonus of up to thirty percent (30%) of the Base Salary, based on the assessment of the Board, in consultation with the President and CEO and in its discretion, of the Executive's performance and that of the Company against appropriate and reasonably obtainable goals established annually by the Compensation Committee of the Board in consultation with the Executive and the President and CEO; which bonus, if any, shall be payable not later than the end of the first quarter of the fiscal year following that for which the bonus was earned. Any bonus or incentive compensation paid to the Executive shall be in addition to the Base Salary.
Incentive and Bonus Compensation. The Executive shall be eligible to participate in the Company's existing and future bonus and stock plans and other incentive compensation programs for similarly situated executives (collectively, "Plans"), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Company's Chief Executive Officer (the "Chief Executive Officer") and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer's or Board's sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. The terms of each Plan shall govern the Executive's rights and obligations thereunder during the Executive's employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of "Cause" hereunder shall not supersede the definition of "cause" in any Plan (unless the Plan expressly defers to the definition of "cause" under an executive's employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive's employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.
(i) The Executive shall be eligible to participate in the Company's Performance Incentive Bonus Plan with respect to fiscal year 2019, with a threshold bonus opportunity equal to 75% of the Executive's Base Salary, a target bonus opportunity equal to 150% of the Executive's Base Salary and a maximum bonus opportunity equal to 300% of the Executive's Base Salary for such fiscal year, pro rated for the number of days during such fiscal year that the Executive was employed by the Company; provided, however, that the Executive's bonus amount for fiscal year 2019 shall be no less than the Executive's target bonus opportunity for such fiscal year, pro rated for the number of days during such f...
Incentive and Bonus Compensation. Beginning for the calendar year starting January 1, 2023, the Executive shall be eligible to receive an annual bonus based upon his performance and that of the Company for each calendar year. The target bonus amount will be a minimum of seventy-five percent (75%) of the Executive’s then current Base Salary, and the Executive will be eligible for a bonus in excess of seventy-five percent (75%) of the Executive’s then current Base Salary for exceptional performance. Such bonus shall be based on the Executive’s and the Company’s achievement of the goals and objectives for the relevant calendar year established by the Board of Directors or, if applicable, the Compensation Committee thereof. The amount of the annual bonus payable to the Executive under this Section 4(b) and the satisfaction of such goals and objectives shall be determined following the conclusion of the relevant calendar year by the Board of Directors or, if applicable, the Compensation Committee thereof, and, if earned, such annual bonus shall be paid not later than two and one-half (21/2) months following the end of the calendar year for which the bonus was earned. For the avoidance of doubt, the Executive shall not be eligible to receive an annual bonus for the 2022 calendar year. Subject to the approval of the Board of Directors or the Compensation Committee thereof, for so long as the Executive continues providing services to the Company, the Executive shall be eligible to receive annual equity or equity-based awards commensurate with his status as an executive officer of the Company, with a target award amount for the fiscal year 2023 of $2.5 million and thereafter subject to market-based analysis based on peer group comparisons and approval by the Compensation Committee of the Board of Directors. Any such equity or equity-based awards to be subject to the terms and conditions of the Company’s equity incentive plan then in effect and an agreement with the Executive thereunder, which terms and conditions shall control in the event of any conflict with this Agreement.
Incentive and Bonus Compensation. The Employee shall not be eligible to be considered for a bonus annually during the term hereof.
Incentive and Bonus Compensation. During each fiscal year completed during the term hereof, the Executive shall be eligible to earn an annual bonus (the “Annual Bonus”). The amount of any bonus earned hereunder shall be determined by the Board based on the achievement of performance objectives by the Executive and/or the Company for that year, as established by the Board after consultation with the Executive. The target amount of the Annual Bonus is 60% of Base Salary. Any compensation paid to the Executive as a bonus shall be in addition to the Base Salary, but shall be in lieu of participation in any other plan or compensation program, whether cash or equity, that is intended to offer the opportunity for any incentive, bonus or commission compensation, but excluding for the avoidance of doubt the Executive’s equity participation in accordance with Section 4(c) hereof.