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
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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. (b) In addition to Base Salary (and without limiting the provisions of Section 4.2(d) below), Executive shall be eligible to receive bonus compensation of a maximum of up to an aggregate of 100% of his Base Salary (“Bonus Compensation”) for each fiscal year during the Term commencing March 1, 2002 (i.e., fiscal year 2003). Bonus Compensation shall consist of two components: (i) annual bonus payments of up to an aggregate of 80% of Executive’s Base Salary based on Cellu Tissue achieving certain targets in respect of Cellu Tissue’s EBITDA (as defined in Section 4.2(f) below) established in the annual budget based on then-current market and industry conditions and in good faith and approved by the Board in consultation with Executive (“Benchmarks”) and (ii) additional annual bonus payments of up to an aggregate of 70% of Executive’s Base Salary based solely on the Board’s assessment of extraordinary events (including without limitation, acquisitions and divestitures), the contribution of Executive to achieving the Benchmarks and the difficulty of achieving those Benchmarks in a particular year. (c) Prior to the commencement of each fiscal year during the Term, Executive shall present to the Board a proposed annual budget and proposed Benchmarks applicable to the upcoming fiscal year. The Board, in its sole discretion in consultation with Executive, shall determine the annual budget and Benchmarks applicable to such fiscal year. Notwithstanding the foregoing, the Board, in its sole discretion in consultation with Executive, may adjust the Benchmarks during a fiscal year to reflect any acquisitions made during said fiscal year. (d) The Bonus Compensation for the partial fiscal year commencing on March 1, 2004 and ending upon the expiration of the Term (such period, “Partial FY 2005”) shall be based on the same methodology defined in Section 4.2(b) above; provided, however, that (i) the Benchmarks established for such periods shall take into account only Partial FY 2005 and (ii) any Bonus Compensation payable with respect to Partial FY 2005 shall be pro-rated to reflect such partial year. For example, in the event that 100% of the Benchmark for Partial FY 2005 is met, Executive shall be entitled to receive 60% of his then-applicable annual Base...
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.
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.
Sample 1

Related to Performance Based Bonus Compensation

  • 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.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

  • 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.

  • 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-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 Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

  • 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 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.

  • 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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