Performance Based Bonus Compensation Sample Clauses

Performance Based Bonus Compensation. The Executive shall be entitled to an annual bonus based on such criteria as shall be determined by the Compensation Committee. The Executive shall also be entitled to receive bonus compensation in accordance with such long-term and annual incentive compensation plans as may be maintained by the Corporation for the benefit of its executives and to participate in any other bonus plans maintained by the Corporation for its executives. Any such bonus or incentive compensation, the receipt of which is not contingent on the Executive’s employment with the Corporation on the date such bonus or incentive compensation is paid, must be paid to the Executive no later than March 15th of the calendar year following the calendar year in which such bonus or incentive compensation was earned.
Sample 1
AutoNDA by SimpleDocs
Performance Based Bonus Compensation. (a) With respect to the period commencing on the date hereof and ending on February 28, 2002, Executive shall be entitled to receive a cash bonus equal to $325,000, which amount shall be paid no later than March 10, 2002.
Sample 1
Performance Based Bonus Compensation. If at any time while Executive is continuing in Service as the Company’s Chief Executive Officer and as a member of its Board, Executive is materially involved in arranging and concluding the sale, exchange, or transfer of all of the Company’s equity or all or substantially all of the assets of the Company (in each case, other than a sale, exchange or transfer to one or more subsidiaries of the Company) (a “Liquidation Event”) whereby the holders of the Company’s common stock shall have received net before tax consideration in excess of Three Dollars ($3.00) per share (as adjusted in accordance with Section 3(b), the “Purchase Price”) , then as additional compensation, Executive shall receive from the Company for service as Chief Executive Officer, a cash payment equal to one percent (1%) of the difference between $3.00 and the Purchase Price multiplied by the number of outstanding shares of common stock of the Company immediately prior to the closing of the Liquidation Event. For purposes of this Section 20, the term “common stock” means both voting and non-voting (if any) common stock of the Company then outstanding. GLOBALSTAR, INC. By: /s/ Xxxxx Xxxxxx III Printed Name: Xxxxx Xxxxxx III Title: Executive Chairman of the Board /s/ Xxxxx X. Xxxxxx Xxxxx X. Xxxxxx
Sample 1
Performance Based Bonus Compensation. The Executive shall be entitled to an annual bonus based on such criteria as shall be determined by the Compensation Committee. The Executive shall also be entitled to receive bonus compensation in accordance with such long-term and annual incentive compensation plans as may be maintained by the Corporation for the benefit of its executives and to participate in any other bonus plans maintained by the Corporation for its executives. (iii) Salary Not Exclusive. Base Salary and bonus compensation shall not be deemed exclusive, and the Executive shall be entitled to participate in any other compensation or benefit plans maintained by the Corporation for the benefit of its employees including, without limitation, the various stock option plans available to the Corporation's executives. Payments of Base Salary shall not limit or reduce any other obligations of the Corporation or rights of the Executive under this Agreement. (iv)
Sample 1

Related to Performance Based Bonus Compensation

  • Performance Based Bonus As additional compensation, the Executive shall be entitled to receive a performance based bonus, based on meeting revenue and cash flow objectives. The Executive shall be granted options ("Performance Options") to purchase an aggregate of 220,000 shares of Common Stock, subject to anti-dilution provisions relating to adjustments in the event that the Company, among other things, declares stock dividends, effects forward or reverse stock splits, at an exercise price of the fair market value of the date of the grant, and shall be exercisable for a period of four (4) years from the date of vesting unless sooner terminated, as described herein. The date of grant shall be the Effective Date of this Agreement. Up to one-half of these shares will be eligible for vesting on a quarterly basis and the rest annually, with the total grant allocated over a two-year period, starting with the quarter ended December 31, 2007. Vesting of the quarterly portion is subject to achievement of increased revenues over the prior quarter as well as positive and increased net cash flow per share (defined as cash provided by operating activities per the Company’s statement of cash flow, measured before changes in working capital components and not including investing or financing activities) for that quarter. Vesting of the annual portion is subject to meeting the above cash flow requirements on a year-over-year basis, plus a revenue growth rate of at least 30% for the fiscal year over the prior year, starting with the fiscal year ended September 30, 2008. In the event of quarter to quarter decreases in revenues and or cash flow, the Performance Options shall not vest for that quarter but the unvested quarterly Performance Options shall be added to the available Performance Options for the year, vested subject to achievement of the applicable annual goal. In the event this Agreement is not renewed or the Executive is terminated other than for Cause, the Executive shall be entitled to register the stock underlying the vested portion of the Performance Options provided hereunder on the terms and conditions set forth in a registration rights agreement to be mutually agreed upon by and between Executive and the Company. The Company shall file such Registration Statement as promptly as practicable and at its sole expense. The Company will use its reasonable best efforts through its officers, directors, auditors and counsel in all matters necessary or advisable to file and cause to become effective such Registration Statement as promptly as practicable. Company and Executive agree that this bonus program will continue after the initial two-year period, through the end of the Term, with the specific bonus parameters to be negotiated in good faith between the parties at least ninety (90) days before the expiration of the program then in place.

  • Performance-Based Compensation During the Period of Employment and assuming Executive remains continuously employed by the Company through the end of the relevant fiscal year, Executive shall also be entitled to participate in an annual performance-based cash bonus program as set forth in Exhibit B.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Equity-Based Compensation The Executive shall retain all rights to any equity-based compensation awards to the extent set forth in the applicable plan and/or award agreement.

  • 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.

  • Performance-Based Vesting At the end of each Measurement Year, on the Measurement Date, the percentage of Shares set forth above shall be eligible to vest (the "Eligible Shares"). On each Measurement Date, 50% of the Eligible Shares shall become Vested Shares if at least 90% of the Target EBITDA amount was met for the prior Measurement Year. If more than 90% of the Target EBITDA amount was met for the prior Measurement Year, then the Eligible Shares shall become Vested Shares on a straight line basis such that an additional 5% of Eligible Shares shall become Vested Shares for each 1% that actual Consolidated Adjusted EBITDA exceeds 90% of the Target EBITDA amount.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

Time is Money Join Law Insider Premium to draft better contracts faster.