Performance Bonus Opportunities Sample Clauses

Performance Bonus Opportunities. Executive will be eligible for a performance bonus (the “Performance Bonus”), which is based upon a one-year operating plan adopted by the Board. The bonus will be based on financial and/or operating metrics decided annually by the Board (so long as the Executive is not present at voting or deliberations on any such metrics) or the Compensation Committee and tied to such one-year plan. The target bonus will equate to 30% of Executive’s Base Salary. The Board will have discretion to alter the Performance Bonus upward or downward by 20% based on its good faith discretion.
Sample 1Sample 2
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Performance Bonus Opportunities a. During the initial Term, Executive will be eligible for a Performance Bonus tied to the Company’s earnings (the “Earnings Bonus”). The Company’s Executive Team will share 15% of the Company’s fiscal year Adjusted EBITDA for 2018 that exceeds $3.0 million (the “Earnings Bonus Pool”). The Company will calculate the performance under this metric as it has traditionally done for other executives. Executive will receive 25% of the 2018 Earnings Bonus Pool as his Earnings Bonus. If Executive is not employed by the Company at the time the results are calculated for payment of the Earnings Bonus, and provided Executive’s employment was not terminated pursuant to Paragraph 5.C., he will be paid a pro-rated amount based on the last date of his employment. Unless otherwise set forth in this Agreement, payments pursuant to this paragraph will be made no later than 15 days following the completion of the Company’s audited financial results and filing of the Company’s annual report for fiscal year 2018 within the time extension period. b. Executive will be eligible for a Performance Bonus tied to a potential Change of Control of the Company. If such Change of Control occurs during the Employment Period or within six months following the Employment Period, Executive will receive a lump sum payment of $50,000, payable within 15 days of the Change of Control. c. Additionally, in the event of a Change of Control of the Company, Executive will receive $25,000 on the earlier of (i) 90 days following the Change of Control, (ii) 15 days following Executive’s severance, provided such severance is not pursuant to Section 5.C., or (iii) 15 days following the Company’s filing of its Form 10-K. This payment amount will offset by an equal amount any payment amount owed as and for the Earnings Bonus for 2018. d. Notwithstanding anything herein, taking into consideration the payments set forth in 3.B.c. (i) and (ii), and provided Executive’s employment has not previously been terminated pursuant to Section 5.C., then in the event of a Change in Control, Executive will also be paid any amount above $25,000 that is owed as the result of the Earnings Bonus set forth in 3.B.a. This amount, if any, will be paid within 15 days following the Company’s filing of its Form 10-K.
Sample 1Sample 2
Performance Bonus Opportunities. (1) During the Term, the Executive will be eligible for an annual cash performance bonus of up to 50% of Executive’s Base Salary (the “Performance Bonus”) payable in cash upon the Corporation reporting Total Net Sales equal or exceeding the amount set forth below for each performance bonus period (“Performance Bonus Period”) set forth below: October 1, 2020 through September 30, 2021 $60,000,000 October 1, 2021 through September 30, 2022 $80,000,000 October 1, 2022 through September 30, 2023 $100,000,000 (2) For this purposes of this Agreement, “Total Net Sales” shall be the Corporation’s total net sales as reported on its consolidated statement of income included in its consolidated financial statements appearing in its Annual Report on Form 10-K for year ended, September 30 for the applicable Performance Bonus Period.
Sample 1
Performance Bonus Opportunities a. Executive will be eligible for bonus payments tied to the Company’s Fiscal Year 2019 Earnings (the “Earnings Bonus”). Subject to final approval by the Compensation Committee, Executive will receive a quarterly Earnings Bonus if the Company’s quarterly Adjusted EBITDA exceeds the quarterly target established by the Compensation Committee (the “Quarterly Target”). For any quarter in which Adjusted EBITDA exceeds the Quarterly Target, Executive shall receive 3.75% of the amount in excess of the Quarterly Target. The Company will calculate the performance under this metric as it has traditionally done for other executives. If Executive is not employed by the Company at the time the results are calculated for any quarterly payment of the Earnings Bonus, he will be paid a pro-rated amount based on the last date of his employment. Payments pursuant to this paragraph will be made no later than 15 days following the filing of the Form 10-Q or Form 10-K for the respective period. b. Executive was previously eligible for a bonus payment tied to the Company’s Fiscal Year 2018 (the “2018 Earnings Bonus”) and has been paid $40,269.50 under this plan. c. Executive will be eligible for a Performance Bonus tied to a potential Change of Control of the Company. If such Change of Control occurs during the Employment Period or within six months following the Employment Period, Executive will receive a lump sum payment of $50,000, payable within 15 days of the Change of Control. d. Additionally, in the event of a Change of Control of the Company, any issued but then unvested stock options will automatically vest for Executive as of the date of the Change of Control.
Sample 1
Performance Bonus Opportunities. (1) During the Term, the Executive will be eligible for a performance bonus (the “Performance Bonus”), payable in a combination of cash and awards of common stock (“Performance Bonus Stock Awards”), which such Performance Bonus shall be based upon his relative achievement of annual performance goals established by the Corporation’s Board of Directors upon recommendation of the Compensation Committee of the Board of Directors, with input from the Corporation’s senior executive management, including the Executive. Such performance goals are to be established by the Board of Directors no later than the beginning of each fiscal year. (2) Any Performance Bonus Stock Award shall be granted to the Executive pursuant to the terms and conditions of the Corporation’s 2015 Equity Compensation Plan, or such other compensation plan as may be adopted by the Corporation and its shareholders during the Term (collectively, the “Plan”). (3) The determination of the achievement of the annual performance goals shall be made by the Compensation Committee of the Board of Directors as soon as practicable following the completion of the Corporation’s audited financial statements for the applicable fiscal year. The payment of each annual Performance Bonus, if any, shall be made to the Executive within thirty (30) days of such determination.
Sample 1
Performance Bonus Opportunities a. Executive will be eligible for a bonus payment tied to the Company’s Fiscal Year 2019 Earnings (the “Earnings Bonus”). Subject to final approval by the Compensation Committee, Executive will receive a Performance Bonus if the Company’s quarterly Adjusted EBITDA exceeds the quarterly target as established by the Compensation Committee (the “Quarterly Target”). For any quarter in which Adjusted EBITDA exceeds the Quarterly Target, Executive shall receive 3.75% of the amount in excess of the Quarterly Target. If Executive is not employed by the Company at the time the results are calculated for payment, he will be paid a pro-rated Performance Bonus based on the last date of his employment. Payments pursuant to this paragraph will be made no later than 15 days following the filing of the Form 10-Q or 10-K. If Change of Control occurs prior to the end of a quarterly period, Executive and the Compensation Committee will negotiate in good faith to determine the Earnings Bonus for the then current period and to set realistic bonus targets for the remainder of the Term. The Company will calculate the performance under this metric as it has traditionally done for other executives, subject, in all cases, to final approval by the Compensation Committee or the Board. b. Executive was previously eligible for a bonus payment tied to the Company’s Fiscal Year 2018 (the “2018 Earnings Bonus”) and has been paid $40,269.50 under this plan. c. Executive will be eligible for a Performance Bonus tied to a potential Change of Control of the Company. If such Change of Control occurs during the Employment Period or within six months following the Employment Period, Executive will receive a lump sum payment of $50,000, payable within 15 days of the Change of Control.
Sample 1
Performance Bonus Opportunities. (1) During the Term, the Executive will be eligible for a performance bonus (the “Performance Bonus”), payable in a combination of cash and awards of common stock (“Performance Bonus Stock Awards”), which such Performance Bonus shall be based upon his relative achievement of annual performance goals established by the Corporation’s Board of Directors upon recommendation of the Compensation Committee of the Board of Directors, with input from the Corporation’s senior executive management, including the Executive. Such performance goals are to be established by the Board of Directors no later than the beginning of each fiscal year. So long as the Executive is a member of the Corporation’s Board of Directors, he shall abstain from participation in the deliberations of the Board of Directors in the establishment of the annual performance goals. (2) Any Performance Bonus Stock Award shall be granted to the Executive pursuant to the terms and conditions of the Corporation’s 2015 Equity Compensation Plan, or such other compensation plan as may be adopted by the Corporation and its shareholders during the Term (collectively, the “Plan”). (3) The determination of the achievement of the annual performance goals shall be made by the Compensation Committee of the Board of Directors as soon as practicable following the completion of the Corporation’s audited financial statements for the applicable fiscal year. The payment of each annual Performance Bonus, if any, shall be made to the Executive within thirty (30) days of such determination.
Sample 1
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Performance Bonus Opportunities. (1) The Executive will be eligible for a performance bonus of up to 50% of Base Salary (the “Performance Bonus”), payable in an equal combination of cash and awards (“Performance Bonus Stock Awards”) of shares of the Corporation’s common stock (the “Common Stock”), which such Performance Bonus shall be based upon his relative achievement of annual performance goals established by the Corporation’s Board of Directors upon recommendation of the Committee, with input from the Corporation’s senior executive management. Such performance goals are to be established by the Board of Directors no later than the beginning of each fiscal year. (2) Any Performance Bonus Stock Award shall be granted to the Executive pursuant to the terms and conditions of the Corporation’s 2021 Equity Compensation Plan, or such other compensation plan as may be adopted by the Corporation and its shareholders (collectively, the “Plan”). (3) The determination of the achievement of the annual performance goals shall be made by the Committee as soon as practicable following the completion of the Corporation’s audited financial statements for the applicable fiscal year. The payment of each annual Performance Bonus, if any, shall be made to the Executive within thirty (30) days of such determination.
Sample 1

Related to Performance Bonus Opportunities

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • 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.

  • Bonus Opportunity The Company shall offer each year an incentive bonus compensation plan. Such plan will include an annual bonus target amount equal to at least 50% of the Executive’s annual base salary and shall contain such additional terms as determined by the Chief Executive Officer. The amount of any bonus payable to Executive in any year shall be based upon performance targets established in advance under the bonus plan and Executive’s achievement of such performance criteria.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • 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.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • 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.

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

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