Net Sales Quarterly Bonus Sample Clauses

Net Sales Quarterly Bonus. A portion of the Executive’s total Quarterly Bonus is based on the Company’s achievement during a fiscal quarter of particular net sales levels in the chart below (the “Net Sales Quarterly Bonus”). For this purpose, “net sales” are the Company’s consolidated net sales in U.S. dollars as computed in accordance with generally accepted accounting principles, subject to the following. In applying foreign currency translation to non-U.S. dollar denominated net sales, the Company shall make the computation using the same average exchange rates used for creation of the annual budget referred to below. It is intended by this provision that the Executive shall neither profit from, nor be penalized by, foreign currency translation adjustments in determining whether the milestones for a Net Sales Quarterly Bonus are met. Example: Assume that the Company’s U.S. dollar-denominated consolidated net sales budget for a particular fiscal quarter is $2.0 million, consisting of €1,126,820 at an average exchange rate of €1.00-to-$1.33118 (i.e., $1.5 million) and £260,050 at an average exchange rate of £1.00-to-$1.92271. If actual net sales for that fiscal quarter are €1,300,000 and £200,000, the U.S.-denominated “net sales” for purposes of determining whether a Quarterly Bonus is earned would be $2,115,076 ($1,730,534 + $384,542) based on the above exchange rates, regardless of the actual average exchange rates during the quarter. Except with respect to the Special Fiscal 2005 Quarterly Bonus, the net sales targets for the relevant quarter will be set by the Board of Directors based on a annual budget (broken down by fiscal quarter and currency and specifying the applicable foreign currency exchange rates used for creating the budget) recommended by management. The net sales budget must be approved prior to the beginning of the relevant fiscal year by (i) a majority of the members of the Board of Directors and (ii) all non-employee members of the Board of Directors. If management does not timely receive the required approvals of the annual net sales budget, then the net sales targets per quarter will automatically increase by 20% over the prior year’s budget. Net Sales Quarterly Bonus Percentage of Percentage of Quarterly Quarterly Net Sales Base Compensation Target Achieved Payable as Bonus 90% 30% 100% 36% 110% 42% 120% 48% 130% 54% 140% 60% If the Company achieves a net sales goal between two specified percentages above, the related Net Sales Quarterly Bonus will increase ...
Sample 1
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Related to Net Sales Quarterly Bonus

  • Quarterly Bonus The Employee shall be eligible to be paid a quarterly bonus earned in accordance with the terms set forth on Exhibit 3.2.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Sales Milestone Payments Licensee shall notify MTI of any Calendar Year in which annual Net Sales of a Licensed Product in such Calendar Year in all countries in the Territory reach the following thresholds for the first time within [***] days after the end of such Calendar Year, and shall make the following sales milestone payments to MTI within [***] days after receiving an invoice from MTI therefor: Annual Net Sales Threshold Sales Milestone Payment [***] [***] [***] [***] [***] [***] Each sales milestone payment is separate and may only be earned once for each Licensed Product, irrespective of the number of times such thresholds are achieved for such Licensed Product, but if more than one Net Sales threshold is reached in the same Calendar Year, all corresponding sales milestone payments shall be payable during such Calendar Year. For example, if annual Net Sales of a Licensed Product first reach [***] dollars [***] in Calendar Year 1, [***] dollars [***] shall be payable to MTI for such Calendar Year 1, however, if annual Net Sales of a Licensed Product first reach [***] dollars ($500,000,000) in Calendar Year 2 [***] Portions of this exhibit have been redacted pursuant to a confidential treatment request. An unredacted version of this exhibit has been filed separately with the Commission. (without first reaching [***] dollars [***] in Calendar Year 1), then both the [***] dollars [***] and the [***] dollars [***] sales milestone payments would be payable to MTI for such Calendar Year 2. Net Sales of the Co-Exploited Product in the United States, which are subject to profit and loss sharing pursuant to the Co-Exploitation Terms, shall be excluded from the annual Net Sales of such Co-Exploited Product for purposes of this Section 7.10.

  • 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.

  • Annual Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • 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.

  • Net Sales The term “

  • 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 Cash Incentive Executive shall be eligible to participate in the Company’s management cash incentive plan and any successor annual cash plans. Executive shall have the opportunity to earn an annual target cash incentive, measured against performance criteria to be determined by the Company’s Board (or a committee thereof) having a target value of not less than 70% of Base Salary.

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