Performance Based Bonus Plan Sample Clauses

Performance Based Bonus Plan. Except in the case of a termination of this Agreement pursuant to Section 5(a) or 5(c), for a period of five years following the consummation of the transactions contemplated in the Merger Agreement, the Employee, along with the Company's Chief Operating Officer, Chief Financial Officer, and Vice President for Marketing (collectively, the "Senior Executive Officers"), shall participate in a performance based bonus plan (the "Performance Bonus Plan") in which each of the Senior Executive Officers will receive an aggregate of 25% of the excess EBIT (after Incentive Bonus Plan bonuses are awarded) for each fiscal year above EBIT projected for such year in the Goldxxx, Xxchx & Xo. Confidential Memorandum dated December 1996 (the "Goldxxx, Xxchs Memorandum") or another mutually agreed-upon alternative profit target. The maximum aggregate amount that the Senior Executive Officers shall be entitled to receive under the term of the Performance Bonus Plan shall be $750,000. The Board shall develop and approve the Performance Bonus Plan no later than June 30, 1997.
Sample 1See All (4)
AutoNDA by SimpleDocs
Performance Based Bonus Plan. The Executive will be entitled to an annual performance based bonus. The bonus plan will be approved by the Compensation Committee and tied to Corporation and individual goals and targets as determine in cooperation with the Executive.
Sample 1Sample 2
Performance Based Bonus Plan. Except in the case of a termination of this Agreement pursuant to Section 5(a) or 5(c), for a period of five years following the consummation of the transactions referenced in the Merger Agreement dated as of March 25, 2 3 1997 by and between Thayxx Xxxity Investors III, L.P. and KPC Holdings Corporation (the "Merger Agreement"), the Employee, along with the Company's Chief Executive Officer, Chief Operating Officer, and Vice President for Marketing (collectively, the "Senior Executive Officers"), shall participate in a performance based bonus plan (the "Performance Bonus Plan") in which each of the Senior Executive officers will receive an aggregate of 25% of the excess EBIT (after Incentive Bonus Plan bonuses are awarded) for each fiscal year above EBIT projected for such year in the Goldxxx, Xxchx & Xo. Confidential Memorandum dated December, 1997 (the "Goldxxx, Xxchs Memorandum") or another mutually agreed-upon alternative profit target. The maximum aggregate amount that the Senior Executive officers shall be entitled to receive under the term of the Performance Bonus Plan shall be $750,000.
Sample 1
Performance Based Bonus Plan. Executive will be eligible to receive annual cash bonuses to be determined and awarded by the Board, in its absolute discretion, based upon the Company’s achievement of certain milestones determined by the Board from time to time, using criteria such as; · Business performance based on vehicle units sold, revenue, EBITDA, etc.; · Securing distribution agreements with vehicle manufacturer, vehicle launches; · Stock performance; and, · New business development.
Sample 1

Related to Performance Based Bonus Plan

  • 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.

  • 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.

  • 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.

  • 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.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • 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.

  • 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.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!