Common use of Incentive Bonus Plans Clause in Contracts

Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other senior executive officers of the Employer, subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee on an annual basis.

Appears in 4 contracts

Samples: Employment Agreement (Hampton Roads Bankshares Inc), Employment Agreement (Hampton Roads Bankshares Inc), Employment Agreement (Hampton Roads Bankshares Inc)

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Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other Tier II senior executive officers of the Employer, subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee of the Xenith Board on an annual basis.

Appears in 2 contracts

Samples: Employment Agreement (Hampton Roads Bankshares Inc), Employment Agreement (Hampton Roads Bankshares Inc)

Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other senior executive officers of the EmployerBHR and HRB, subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee of the HRB’s Board of Directors (the “Compensation Committee”) on an annual basis.

Appears in 1 contract

Samples: Employment Agreement (Hampton Roads Bankshares Inc)

Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other Tier II senior executive officers of the Employer, subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee of the Board on an annual basis; provided, however, that Employer shall adopt a short-term incentive plan applicable on an annual basis, and the Executive shall have a target incentive opportunity to earn no less than thirty percent (30%) of the Executive’s Base Salary.

Appears in 1 contract

Samples: Employment Agreement (Hampton Roads Bankshares Inc)

Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other Tier I senior executive officers of the Employer, subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee of the Board on an annual basis; provided, however, that Employer shall adopt a short-term incentive plan applicable on an annual basis, and the Executive shall have a target incentive opportunity to earn no less than forty percent (40%) of the Executive’s Base Salary.

Appears in 1 contract

Samples: Employment Agreement (Hampton Roads Bankshares Inc)

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Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other senior executive officers of the Employer, Employer subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee on an annual basis.

Appears in 1 contract

Samples: Employment Agreement (Hampton Roads Bankshares Inc)

Incentive Bonus Plans. The Executive will be eligible to participate in any of the Employer’s long-term or short-term incentive plans on the same terms and conditions and in relative magnitude to other senior executive officers of the Employer, subject to annual bonus performance metrics and other terms and conditions of awards adopted in the sole and absolute discretion of the Compensation Committee on an annual basis.performance

Appears in 1 contract

Samples: Employment Agreement (Hampton Roads Bankshares Inc)

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