Initial Performance Bonus Sample Clauses

Initial Performance Bonus. Executive shall be entitled to an initial performance bonus (the “Initial Performance Bonus”) of One Million Five Hundred Thousand Dollars ($1,500,000) if the Company (i) achieves positive retained earnings equal to or greater than Five Million Dollars ($5,000,000) not later than the fiscal quarter ending December 31, 2012 (the “Target Retained Earnings”), and (ii) the Company’s positive retained earnings are equal to or greater than the Target Retained Earnings at the end of the two fiscal quarters immediately following the quarter in which the Company initially achieved the Target Retained Earnings (the “Initial Performance Bonus Trigger”). In the event the Company achieves the Initial Performance Bonus Trigger, the Initial Performance Bonus shall be paid by the Company to Executive as follows (i) Seven Hundred and Fifty Thousand Dollars ($750,000) between January 1 and January 31 of the year immediately following the date on which the Company achieved the Initial Performance Bonus Trigger, and (ii) Seven Hundred and Fifty Thousand Dollars ($750,000) between January 1 and January 31 of the second year following the date on which the Company achieved the Initial Performance Bonus Trigger.
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Initial Performance Bonus. Executive shall earn, and the Company shall pay to Executive, a one-time cash bonus of $50,000, if the Company achieves annualized EBITDA of $6.7 million during any “Quarter” (defined as the periods covering January 1 through March 31, April 1 through June 30, July 1 through September 30 and October 1 through December 31) on or prior to December 31, 2007 (the “Initial Bonus”). Such payment shall be made by the Company to Executive within thirty (30) days following the end of the applicable Quarter; provided, however, that the Initial Bonus shall be subject to repayment by Executive (within 30 days, if already paid by the Company) should the Company’s third-party auditors subsequently determine that the Company’s annualized EBITDA did not equal or exceed $6.7 million for any Quarter ending on or prior to December 31, 2007.
Sample 1
Initial Performance Bonus. Executive shall be eligible to receive a lump sum cash initial performance bonus of up to $2,000,000 (the “Initial Performance Bonus”), with the actual amount of the Initial Performance Bonus to be determined by the Board (in good faith) based upon the Board’s determination of Executive’s achievement, prior to or as of December 31, 2013, of the performance objectives that follow: (i) recommendation by Executive to the Board of the location of Company’s principal executive office following the completion of the Business Combination of Company and OfficeMax Incorporated (such headquarters being the “Post-Business Combination Headquarters”), (ii) progress on the selection of Company’s post-Business Combination senior executive team; and (iii) progress on development of a Company budget for calendar year 2014. The Board shall make its good faith determination of the achievement of the foregoing objectives on or before March 15, 2014, and shall cause such Initial Performance Bonus, if any, to be paid to Executive not later than March 15, 2014. Executive must be employed by Company on March 15, 2014 in order to be eligible for the Initial Performance Bonus.
Sample 1
Initial Performance Bonus. Executive will be paid an initial performance bonus (the “Initial Performance Bonus”) in the gross amount of Fifty Thousand Dollars ($50,000), less necessary withholdings and authorized deductions, in consideration for special responsibilities and efforts required of Executive during the first ninety days of his employment, payable by the Company on the Company’s first regularly scheduled payday subsequent to the ninety (90) day period commencing on the Effective Date.
Sample 1
Initial Performance Bonus. Executive shall earn a bonus of fifty percent (50%) of his Base Salary (the “Initial Bonus”) after his first six months of employment, provided Executive remains an active employee through such time. Except as otherwise provided in Section 5, Executive will not earn any Initial Bonus if Executive’s employment terminates for any reason before the Initial Bonus is earned by him. The Initial Bonus, if earned, shall be paid within one month after the end of the six month anniversary of the Commencement Date.
Sample 1
Initial Performance Bonus. The Executive shall be entitled to a guaranteed bonus equal to $100,000, which represents a six month performance bonus, to be paid no later than December 31, 2015 provided the Executive remains employed until such payment date. At least $80,000 of such bonus shall be paid in cash and the remainder shall be payable in cash or fully vested shares of common stock in the discretion of the Company.
Sample 1

Related to Initial Performance Bonus

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • 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.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid 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 the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • Annual Performance Review The Employee’s performance of his duties under this Agreement shall be reviewed by the Board of Directors or a committee of the Board of Directors at least annually and finalized within thirty (30) days of the receipt of the annual audited financial statements. The Board of Directors or a committee of the Board of Directors shall additionally review the base salary, bonus and benefits provided to the Employee under this Agreement and may, in their discretion, adjust the same, as outlined in Addendum B of this Agreement, provided, however, that Employee’s annual base salary shall not be less than the base salary set forth in Section 4(A) hereof.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • 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 Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

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