Performance Bonus; Equity-Based Compensation Sample Clauses
The "Performance Bonus; Equity-Based Compensation" clause defines the terms under which an employee or contractor may receive additional compensation based on achieving specific performance targets, as well as the possibility of receiving equity in the company. This clause typically outlines the criteria for earning bonuses, such as meeting sales goals or project milestones, and details the form and vesting schedule of any equity awards, like stock options or restricted shares. Its core function is to incentivize high performance and align the interests of the individual with the long-term success of the company by offering both immediate and future financial rewards.
POPULAR SAMPLE Copied 2 times
Performance Bonus; Equity-Based Compensation. During the Employment Period, Executive shall be eligible (i) for consideration for an annual cash performance bonus in accordance with the applicable terms of the bonus plan as in effect from time to time as determined by the UTi Group and (ii) to participate in equity-based incentive plans in accordance with the terms of such plans and as determined by the UTi Group. For the Company’s fiscal year 2013, Executive shall be paid a performance bonus of $100,000 unless, prior to the payment of such amount (i) Executive’s employment has been terminated for Cause by the Company or (ii) Executive has provided the Company with notice of resignation other than for “Good Reason” pursuant to Section 6(e)(iii) below. In the event Executive’s employment has been terminated for Cause by the Company or Executive has provided the Company with notice of resignation other than for “Good Reason” pursuant to Section 6(e)(iii) below after the payment of the fiscal year 2013 performance bonus and prior to January 31, 2014, Executive hereby agrees to promptly repay to the Company the full $100,000 fiscal year 2013 performance bonus.
Performance Bonus; Equity-Based Compensation. During the Employment Period, Executive shall be eligible (i) for consideration for an annual cash performance bonus in accordance with the applicable terms of the bonus plan as in effect from time to time as determined by the UTi Group and (ii) to participate in equity-based incentive plans in accordance with the terms of such plans and as determined by the UTi Group.
Performance Bonus; Equity-Based Compensation. During the term of Executive’s employment hereunder, Executive shall be eligible to participate in any bonus or equity based incentive plans or programs made available to Executive in accordance with the terms of such plans or programs and as shall be mutually agreed upon between Executive and the Compensation Committee; provided, however, that it is hereby agreed and acknowledged by Executive that Executive’s compensation for the period commencing May 1, 2008 and ending January 31, 2009 shall be limited to (i) the award of the option to purchase 53,299 Ordinary Shares (the “Option”) granted on April 14, 2008, having an exercise price of $19.70 per share and vesting in twelve equal monthly installments beginning with the month ending May 31, 2008; and (ii) such other benefits, including vacation, reimbursements and health and welfare benefits, as may be provided pursuant to Sections 5(c), 5(d), and 5(e) below.”
Performance Bonus; Equity-Based Compensation. During the term of Executive’s employment hereunder, Executive shall be eligible to participate in any bonus or equity based incentive plans or programs made available to Executive in accordance with the terms of such plans or programs and as determined by the UTi Group.
Performance Bonus; Equity-Based Compensation. During the Employment Period, Executive shall be eligible (i) for consideration for an annual cash performance bonus in accordance with the applicable terms of the bonus plan as in effect from time to time as determined by the UTiW Board and (ii) to participate in equity-based incentive plans in accordance with the terms of such plans and as determined by the UTiW Board; provided, however that, with respect to clause (ii), the parties acknowledge that the equity awards granted to Executive pursuant to this Agreement shall be in lieu of any additional equity awards that might otherwise be granted to Executive in the Company’s 2016 fiscal year. Notwithstanding the foregoing (i) Executive’s target bonus for the Company’s Fiscal Year 2015 (and the other terms and conditions thereof) shall remain unaffected by this Agreement, and (ii) Executive’s target bonus for the Company’s Fiscal Year 2016 (“2016 Target Bonus”) shall be as follows: the target bonus amount shall be 200% of Executive’s base salary, with the form of any payment thereunder to be paid to Executive as follows: (x) 50% in cash, and (y) 50% in the form of a restricted share unit award made under the applicable equity-based incentive plans of UTi Worldwide that shall vest with respect to 50% on the first anniversary of the date of such award, and with respect to 50% on the second anniversary of the date of such award, conditioned in each case on Executive remaining in the employment of the Company through such vesting dates (except as otherwise provided below and in the applicable award agreement), and shall in all other respects (including but not limited to potential accelerated vesting) be subject to the standard terms and conditions of restricted share unit awards granted under the applicable equity-based incentive plan of UTi Worldwide. In the event Executive’s employment terminates due to death, disability (as defined below) or by the Company without Cause (as defined below) prior to the full vesting of any restricted share units issued in connection with the 2016 Target Bonus, all such restricted share units shall vest in full as of the date of such termination event. For purposes of clarity, following the Company’s Fiscal Year 2016, any bonus payment or equity compensation award to Executive shall be at the discretion of the UTiW Board.
Performance Bonus; Equity-Based Compensation. For the Company’s fiscal year 2010, (a) Executive shall have a target cash performance bonus equal to 90% of his base salary, and Executive shall be paid not less than one-half of such target amount, and (b) Executive shall receive one or more equity-based incentive awards, as determined by the Compensation Committee of UTi Worldwide (the “Compensation Committee”) and the UTiW Board, with an aggregate target value equal to 300% of his base salary. During the remainder of the Employment Period, Executive shall be eligible for consideration for (i) an annual cash performance bonus in accordance with the applicable terms of the bonus plan as in effect from time to time with a target amount equal to 90% of his base salary and (ii) one or more annual equity-based incentive awards in accordance with the applicable terms of the incentive plans in effect from time to time having a target value equal to 300% of his base salary, in each case as ultimately determined by the Compensation Committee and the UTiW Board.