Common use of Incentive Bonus Compensation Clause in Contracts

Incentive Bonus Compensation. In addition to the Base Compensation to which the Employee is entitled under Section 6(a), the Employee shall be eligible to be awarded incentive bonus compensation (the “Bonus Compensation”) with respect to each calendar year or portion thereof during which the Employee was employed by the Company hereunder equal to up to and including 100% of the Employee’s Base Compensation. The criteria for determining the amount of the Bonus Compensation shall be determined by mutual agreement between the Employee and the Chief Executive Officer of the Company and shall by approved by the Compensation Committee of the Board of Directors. Incentive Bonus Compensation shall be paid within 90 days following the end of the calendar year.

Appears in 5 contracts

Samples: Employment Agreement (Warren Resources Inc), Employment Agreement (Warren Resources Inc), Employment Agreement (Warren Resources Inc)

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Incentive Bonus Compensation. In addition to the Base Compensation to which the Employee is entitled under Section 6(a), the Employee shall be eligible to be awarded incentive bonus compensation (the “Bonus Compensation”) with respect to each calendar year or portion thereof during which the Employee was employed by the Company hereunder equal to up to and including 10075% of the Employee’s Base Compensation. The criteria for determining the amount of the Bonus Compensation shall be determined by mutual agreement between the Employee and the Chief Executive Officer of the Company and shall by approved by the Compensation Committee of the Board of Directors. Incentive Bonus Compensation shall be deemed earned at the end of each Employment Year and paid within 90 days following the end of the calendar year.

Appears in 1 contract

Samples: Employment Agreement (Warren Resources Inc)

Incentive Bonus Compensation. In addition to the Base Compensation to which the Employee is entitled under Section 6(a), the Employee shall be eligible to be awarded incentive bonus compensation (the “Bonus Compensation”) with respect to each calendar year or portion thereof during which the Employee was employed by the Company hereunder equal to up to and including 100% of the Employee’s Base Compensation. The criteria for determining the amount of the Bonus Compensation shall be determined by mutual agreement between the Employee and the Chief Executive Officer of the Company and shall by approved by the Compensation Committee of the Board of DirectorsDirectors and be approved by the Board of Ditrectors. Incentive Bonus Compensation shall be paid within 90 days following the end of the calendar year.

Appears in 1 contract

Samples: Employment Agreement (Warren Resources Inc)

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Incentive Bonus Compensation. In addition to the Base Compensation to which the Employee is entitled under Section 6(a), the Employee shall be eligible to be awarded incentive bonus compensation (the “Bonus Compensation”) with respect to each calendar year or portion thereof during which the Employee was employed by the Company hereunder equal to up to and including 100% of the Employee’s Base Compensation. The criteria for determining the amount of the Bonus Compensation shall be determined by mutual agreement between the Employee and the Chief Executive Officer of the Company and shall by be approved by the Compensation Committee of the Board of Directors. Incentive Bonus Compensation shall be paid within 90 days following the end of the calendar year.

Appears in 1 contract

Samples: Employment Agreement (Warren Resources Inc)

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