Performance Bonus Awards Sample Clauses
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Performance Bonus Awards. Each right to receive a bonus granted under this Section 8.3 shall be denominated in the form of cash (but may be payable in cash, stock or a combination thereof) (a “Performance Bonus Award”) and shall be payable upon the attainment of performance goals that are established by the Administrator and relate to one or more of performance or other specific criteria, including service to the Company or Subsidiaries, in each case on a specified date or dates or over any period or periods determined by the Administrator.
Performance Bonus Awards. Subject to the terms of the Plan, the Committee may grant Performance Bonus Awards to any Eligible Person, in such amount and upon such terms an at any time and from time to time as shall be determined by the Committee.
Performance Bonus Awards. Any bonus performance criteria and award opportunities will be determined annually by the Board of Directors. Notwithstanding the foregoing, the Executive shall not be entitled to payment of the any Performance Bonus Award for any calendar year in which the Employer does not have a CAMELS rating of 1 or 2 or any calendar year in which the Employer is subject to adverse regulatory administrative action. Furthermore, the Executive shall not be entitled to payment of the Bonus unless the Board of Directors of the Employer determines that (1) the Employer's capital and allowance for loan and lease losses are adequate; and (2) the payment of the Bonus will not have an unreasonable impact on the Employer's earnings or its overall risk profile. Any bonus compensation payable under this Section 4.3 will be payable on the first pay period immediately following issuance of the independent audit report for the respective calendar year for which such bonus compensation is earned.
Performance Bonus Awards. Effective on the date you become employed by Service Corp., you will be eligible for participation in the following outstanding LTIP performance bonus award cycles, 1995-1997, 1996-1998, and 1997-1999, as though you were employed by Service Corp. on the first day of each outstanding award cycle. As such, you will receive the following number of performance units for each award cycle: 1995-1997 - 5,900 units, 1996-1998 - 7,400 units, and 1997-1999 - 7,400 units. Performance in the LTIP is based on achievement of financial objectives by the Company over a three-year period. Subject to the LTIP deferral regulations, payment typically is made during the first quarter of the year following the last year of the award cycle. Actual payment for each cycle will depend on actual Company performance, the accumulation of dividend equivalents, and the value of GTE common stock and is subject to ECC approval. The ECC has the sole discretion to determine the amount, if any, of an LTIP Grant to an executive, as well as the value of any payment with respect to any Performance Bonus Award. Of course, you will be treated in the same manner as other similarly situated senior executives of Service Corp. with respect to LTIP Grants.