Incentive Cash Compensation. (a) For the Company's fiscal year that will begin on January 1, 2005, and for each subsequent fiscal year or portion thereof during the Employment Period, the Executive shall also be eligible to receive incentive cash compensation based on (i) the "Annual Bonus Expectancy Amount," which shall be fifty percent (50%) of the Executive's base salary for such year, and (ii) the Executive's performance in relation to the performance areas and performance targets on which the Executive and the Board or the Compensation Committee shall agree as described below.
(b) The Company and the Executive shall agree periodically on performance criteria for determination of the incentive cash compensation that will be payable to the Executive with respect to each fiscal year of the Company. To the extent possible, such agreement shall be made, as to each fiscal year, prior to the end of the first month of such fiscal year. As an example, such performance criteria may be comprised of several designated performance areas and one or more performance targets in each area, and, depending on the targets achieved, the actual amount of incentive cash compensation actually payable to the Executive for each fiscal year will be between zero and the Annual Bonus Expectancy Amount. The Company acknowledges that the business objectives heretofore used in determining the Executive's incentive cash compensation have been, and that the performance areas and performance targets referred to herein shall continue to be, based largely on the input and recommendations of the Company's Chief Executive Officer and that, in exercising its review and supervisory role with respect to the determination and adoption of those performance areas and performance targets, the Board or the Compensation Committee, as the case may be, shall act reasonably and in consultation and cooperation with the Chief Executive Officer and consistently with past practice.
(c) As soon as practical, and in any event no later than ninety (90) days, following the end of each fiscal year of the Company, the Compensation Committee or the Board, in consultation with the Executive, shall determine, reasonably and in good faith, the extent to which the applicable performance levels for such fiscal year shall have been achieved and, accordingly, shall cause the appropriate amount of incentive cash compensation to be paid to the Executive forthwith. If unforeseen developments occur that make the performance areas and/or targets previo...
Incentive Cash Compensation. During the Employment Period, he shall be eligible annually for a cash bonus at the discretion of the Board (such aggregate awards for each year are hereinafter referred to as the "Annual Bonus") and at the discretion of the Board to receive awards from any plan of the Company or any of its affiliated companies providing for the payment of bonuses in cash to employees of the Company or its affiliated companies having rank comparable to that of the Employee (such plans being referred to herein collectively as the "Cash Bonus Plans") in accordance with the terms thereof; provided, however, that, during the Change of Control Period, the Employee shall be awarded, for each fiscal year ending during the Change of Control Period, an Annual Bonus at least equal to the Highest Recent Bonus (as defined in Section 16(e) below). Each 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 the Employee shall elect to defer the receipt of such Annual Bonus.
Incentive Cash Compensation. The amount of the Executive’s incentive cash compensation for the fiscal year in which the date of termination occurs (determined on a pro-rated basis) plus an additional lump-sum amount equal to fifty percent (50%) of the Executive’s base salary for such year; and
Incentive Cash Compensation. For each fiscal year of the Company or portion thereof during the Term, the Employee shall be eligible for discretionary bonuses payable by the Company on such terms and conditions, and subject to such standards, as shall be determined from time to time, in the sole discretion of the Board of Directors or the compensation committee of the Company.
Incentive Cash Compensation. During the Term, the Executive shall be eligible to participate in the Company’s discretionary Incentive Cash Compensation Program (the “ICC”). The Executive’s target annual bonus under the ICC shall be $300,000 (with a target bonus of $75,000 per quarter), which shall be prorated to account for any partial year. Actual payments under, and the terms and conditions of, the ICC shall be determined by the Board or the compensation committee thereof (the “Compensation Committee”) in its sole discretion. Any bonus awarded pursuant to this Section 3(b) shall be paid pursuant to the terms of the ICC or any successor bonus program.
Incentive Cash Compensation. During the Employment Period, he shall be eligible annually for a cash bonus at the discretion of the Compensation Committee (such aggregate awards for each year are hereinafter referred to as the "Annual Bonus") and at the discretion of the Compensation Committee to receive awards from any plan of the Company or any of its affiliated companies providing for the payment of
Incentive Cash Compensation. During the Term, the Executive shall be eligible to participate in the Company’s discretionary Incentive Cash Compensation Program (the “ICC”). The Executive’s target annual bonus under the ICC shall be $300,000 (with a target bonus of $75,000 per quarter), which shall be prorated to account for any partial year. Actual payments under, and the terms and conditions of, the ICC shall be determined by the Board or the compensation committee thereof (the “Compensation Committee”) in its sole discretion. Any bonus awarded pursuant to this Section 3(b) shall be paid pursuant to the terms of the ICC or any successor bonus program. Notwithstanding the foregoing, and subject to the Executive being actively employed with the Company and not having provided notice of voluntary termination as of the payment date, the Executive will receive quarterly ICC payments of not less than 100% of his target amount for the first three quarters of his employment (with the initial quarterly ICC payment to be paid by May 31, 2017 (for the quarter ending March 31, 2017), and the next two quarterly payments by September 30, 2017 (for the quarter ending June 30, 2017) and November 30, 2017 (for the quarter ending September 30, 2017) , and quarterly ICC payments of not less than 50% of his target amount for the following two quarters (namely, the quarter ending on December 31, 2017 and the quarter ending on March 31, 2018).
Incentive Cash Compensation. A pro-rata amount of the Executive’s Annual Bonus Target for the fiscal year in which the date of termination occurs, plus an additional lump-sum payment equal to fifty percent (50%) of the Executive’s base salary for such year; and
Incentive Cash Compensation. For each Fiscal Year or portion thereof during the Employment Term, Executive shall be eligible for discretionary bonuses payable by the Company on such terms and conditions, and subject to such standards, as shall be determined from time to time in the sole discretion of the Board of Directors of the Company or, at the Board of Directors’ discretion, the compensation committee of the Company.
Incentive Cash Compensation. Beginning on October 1, 2016 and thereafter during the Term, the Executive shall be eligible to participate in the Company’s discretionary Incentive Cash Compensation Program (the “ICC”). The Executive’s target annual bonus under the ICC shall be $200,000 (with a target bonus of $50,000 per quarter), which shall be prorated to account for any partial year. Actual payments under, and the terms and conditions of, the ICC shall be determined by the Board or the compensation committee thereof (the “Compensation Committee”) in its sole discretion. Any bonus awarded pursuant to this Section
