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 Executive Officer, Chief Operating Officer, and Chief Financial Officer (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.
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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. SCHEDULE D
Sample 1Sample 2
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
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

Related to Performance Based Bonus Plan

  • 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.

  • 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.

  • 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").

  • 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 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”):

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