Management Incentives and Discretionary Bonuses Sample Clauses

Management Incentives and Discretionary Bonuses. During the Term of Employment, Employee shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved or may, from time to time, be approved by the Board of Directors, with all other key management personnel of the Bank, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board of Directors to the Bank’s key management employees. The incentive compensation shall be based on meeting or exceeding the attainment of certain criteria to be established by the Board of Directors. In determining whether to grant incentive compensation, the Board of Directors shall consider factors such as the Bank’s profitability, its asset quality, its compliance with laws and regulations, and its loan quality. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to such incentives and discretionary bonuses when and as declared by the Board.
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Management Incentives and Discretionary Bonuses. During the Term of Employment, the Executive shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved, or may from time to time be approved, by the Board of Directors, with all other key management personnel of the Bank, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board of Directors to the Bank's key management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to such incentives and discretionary bonuses when and as declared by the Board.
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Management Incentives and Discretionary Bonuses. During the Term of Employment, the Executive shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved or may, from time to time, be approved by the Board of Directors, with all other key management personnel of the Bank, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board of Directors to the Bank's key management employees. The incentive compensation shall be based on meeting or exceeding the attainment of certain business goals to be established by the President and the Board of Directors. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to such incentives and discretionary bonuses when and as declared by the Board. Anything herein to the contrary notwithstanding, any incentive compensation plan shall not be applicable until the Bank has recovered all start-up losses and is cumulatively profitable.
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Management Incentives and Discretionary Bonuses. During the Term of Employment, the Executive shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved or may, from time to time, be approved by the Board of Directors, with all other key management personnel of the Bank, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board of Directors to the Bank's key management employees. The incentive compensation shall be based on meeting or exceeding the attainment of certain business goals to be established by the Board of Directors, including the following: First Year $10,000 bonus based on attaining $18,000,000 in assets by June 2, 2001 (twelve (12) months from the opening of the Bank). Second Year $10,000 bonus based on attaining $30,000,000 in assets by June 2, 2002 (twenty-four (24) months from opening of the Bank). Third Year $15,000 bonus based on growth and earnings performance conducive to safety and soundness to be determined by the Board of Directors. Fourth Year $15,000 bonus based on growth and earnings performance conducive to safety and soundness to be determined by the Board of Directors. Fifth Year $15,000 bonus based on growth and earnings performance conducive to safety and soundness to be determined by the Board of Directors. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to such incentives and discretionary bonuses when and as declared by the Board. Anything herein to the contrary notwithstanding, no incentive bonuses shall be paid and no incentive compensation plans shall be applicable until the Bank has recovered all start-up losses and is cumulatively profitable.
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Management Incentives and Discretionary Bonuses. (a) During the Term of Employment, Executive shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved or may, from time to time, be approved by the Bank’s Board of Directors, with all other key management personnel, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board of Directors to the Bank’s key management employees. For 2008 and 2009, Executive shall be awarded a bonus equivalent to an annualized $46,000 (the bonus for 2008 being prorated based on the number of days actually employed by the Bank during the year); provided, however, that Executive must be employed by the Bank on the last day of each respective year to receive the bonus and further provided that Executive’s bonus for 2008 shall be contingent upon the Bank’s achievement of at least an 11% reduction in the ratio of non-performing loans (as defined in Section 3.2(c) below) to total loans (comparing the June 30, 2008 ratio to the December 31, 2008 ratio) and that Executive’s bonus for 2009 shall be contingent upon the Bank’s return to month-to-month profitability (determined after appropriate provisions are made to maintain the allowance for loan loss at an adequate level) before the end of 2009. Beginning in 2010, and subject to the limitations set forth in Section 3.2(b) below, the bonus shall be based on meeting or exceeding certain performance criteria to be established by the Board of Directors and shall be paid by March 15 of the following year. It is anticipated that the performance criteria shall consist of targeted objectives in the following areas: (i) earnings (as defined in Section 3.2(c) below); (ii) asset growth; and (iii) asset quality. If the targets in these areas are met, then the Board of Directors intends to award Executive an annual bonus equal to 20% of Executive’s Base Salary (the “Standard Bonus”). If actual earnings exceed the budgeted target, then the Board of Directors anticipates that Executive will be eligible for an increase in his bonus equal to 10% of such excess earnings up to the point where the aggregate bonus equals 60% of his Base Salary for the year in question. It is anticipated that any increase in bonus over the Standard Bonus shall be based on exceeding targeted objectives in the established performance criteria. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive’s right to such incentives and disc...
Sample 1
Management Incentives and Discretionary Bonuses. During the term of this Agreement, the Executive shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved, or may from time to time be approved, by the Board, with all other key management personnel of UCB, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board to UCB's key management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to such incentives and discretionary bonuses when and as declared by the Board.
Sample 1
Management Incentives and Discretionary Bonuses. During the term of this Agreement, the Executive shall be entitled, in an equitable manner based on the terms of any bonus and incentive plans that have been approved, or may from time to time be approved, by the Board, with all other key management personnel of CVB, to such incentives and discretionary bonuses as may be authorized, declared and paid by the Board to CVB's key management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to such incentives and discretionary bonuses when and as declared by the Board.
Sample 1
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Related to Management Incentives and Discretionary Bonuses

  • Discretionary Bonuses The Employee shall participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that the Board may award from time to time to the Bank’s senior management employees. No other compensation provided for in this Agreement shall be deemed a substitute for the Employee’s right to participate in such discretionary bonuses.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Annual Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • 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.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

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