PERFORMANCE BASED INCENTIVE BONUS Sample Clauses
A Performance Based Incentive Bonus clause establishes a system where employees or contractors receive additional compensation if they meet or exceed specific performance targets. Typically, these targets are defined in advance and may relate to sales figures, project completion, quality metrics, or other measurable outcomes. By directly linking bonuses to performance, this clause motivates individuals to achieve higher results and aligns their efforts with the organization's goals, ultimately rewarding productivity and success.
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PERFORMANCE BASED INCENTIVE BONUS. Executive shall be entitled to an annual performance based cash incentive bonus in an amount up to 50 percent of the Base Salary (the "Bonus"). The Bonus shall be earned and paid in accordance with the Company's performance based incentive compensation plan (the "Incentive Plan"); provided, however, that with respect to Executive, the "Performance Period" shall be the calendar year beginning with the 2004 calendar year and continuing for each calendar year thereafter, and the Performance Goals for each Performance Period shall include maintaining, to the extent within the control of the Company's management, the Company's rating by A.M. Best Company (which is currently A-). A copy of the Performance Goals as so established shall be provided to Executive. The Bonus shall be payable as provided in the Incentive Plan. The Performance Goals for 2004 shall be as set forth in Exhibit B. Notwithstanding the forgoing, with the express approval by the Board after review of Executive's performance for the Performance Period, the actual amount of Incentive Award may exceed 50 percent of the Base Salary for such Performance Period,
PERFORMANCE BASED INCENTIVE BONUS. Executive shall be entitled to an annual performance based cash incentive bonus in an amount up to 40 percent of the Base Salary (the “Bonus”). The Bonus shall be earned and paid in accordance with the Company’s performance based incentive compensation plan (the “Incentive Plan”); provided, however, that with respect to Executive, the “Performance Period” (as defined in the Incentive Plan) shall be the calendar year beginning with the 2007 calendar year and continuing for each calendar year thereafter. A copy of the Performance Goals as so established shall be provided to Executive. The Bonus shall be payable as provided in the Incentive Plan. The Performance Goals for 2007 shall be as set forth in the March 22, 2005 Executive Compensation Committee Meeting Minutes.
PERFORMANCE BASED INCENTIVE BONUS. An annual performance-based cash incentive bonus in an amount up to 35% of the Base Salary (the "Bonus"). The Bonus shall be earned and paid in accordance with the Health Power, Inc. Performance-Based Incentive Compensation Plan (the "Incentive Plan"). Under the Incentive Plan, beginning with the 2001 Calendar Year (as defined in Section 6(e), below), and continuing for each Calendar Year thereafter during the First Term or any Renewal Term, as the case may be (each a "Performance Year"), the Board shall establish in writing and in good faith objective performance criteria or goals to be achieved by the Executive for that Performance Year (the "Performance Goals"). A copy of the Performance Goals as established by the Board shall be provided to the Executive. After the completion of each Performance Year, the Board shall review the achievement of the Performance Goals by the Executive and make a determination in good faith as to the amount of the Bonus earned by the Executive based upon the Executive's achievement of such Performance Goals. The Bonus shall be payable as provided in the Incentive Plan.
PERFORMANCE BASED INCENTIVE BONUS. Executive shall be eligible to receive an annual performance based cash target incentive award pursuant to and in accordance with the Company’s performance based incentive compensation plan (the “Incentive Plan”) in an amount equal to 50 percent of the Base Salary (the “Target Incentive Award”). Executive shall earn and be paid the Target Incentive Award (whether in whole or in part) in accordance with the Incentive Plan and the portion of the Target Incentive Award earned by and paid or to be paid to Executive shall be referred to herein as the “Bonus.” A copy of the Performance Goals as so established under the Incentive Plan shall be provided to Executive. The Bonus shall be payable as provided in the Incentive Plan.
PERFORMANCE BASED INCENTIVE BONUS. Employee shall be entitled to an annual performance based cash incentive bonus in an amount up to 40 percent of the Base Salary (the “Bonus”). The Bonus shall be earned and paid in accordance with the Company’s performance based incentive compensation plan (the “Incentive Plan”). A copy of the Performance Goals as so established under the Incentive Plan shall be provided to Employee. The Bonus shall be payable as provided in the Incentive Plan.
PERFORMANCE BASED INCENTIVE BONUS. Executive shall be entitled to an annual performance based cash incentive bonus in an amount up to 40 percent of the Base Salary (the “Bonus”). The Bonus shall be earned and paid in accordance with the Company’s performance based incentive compensation plan (the “Incentive Plan”); provided, however, that with respect to Executive, the “Performance Period” (as defined in the Incentive Plan) shall be the calendar year beginning with the 2005 calendar year and continuing for each calendar year thereafter, and the Performance Goals (as defined in the Incentive Plan) for each Performance Period shall include maintaining, to the extent within the control of the Company’s management, the Company’s rating by A.M. Best Company (which is currently A-). A copy of the Performance Goals as so established shall be provided to Executive. The Bonus shall be payable as provided in the Incentive Plan. The Performance Goals for 2005 shall be as set forth in the March 22, 2005 Executive Compensation Committee Meeting Minutes. Notwithstanding the forgoing, with the express approval by the Board after review of Executive’s performance for the Performance Period, the actual amount of Incentive Award may exceed 40 percent of the Base Salary for such Performance Period, provided that the amount of any such excess shall be paid in shares of Stock or other property having a Fair Market Value (as defined in the Incentive Plan) equal to such excess.
PERFORMANCE BASED INCENTIVE BONUS. Executive shall be eligible for a performance-based incentive bonus for each fiscal year of his employment with the Company.