Performance Bonus Shares Sample Clauses

Performance Bonus Shares. During the Consultant's service with the Company, the Payee shall be eligible to receive a performance bonus established by the Company’s compensation committee or Board.
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Performance Bonus Shares. With respect to each fiscal year of the Company commencing during the Term, but only after payment of the twelfth increment of Base Salary, Executive shall be eligible to earn an annual share bonus award (the “Annual Bonus”), with a target amount equal to fifty percent (50%) of the Base Salary (the “Target Bonus”), based upon the achievement of performance targets established by the Board (or a committee thereof) in its discretion. The Annual Bonus shall be subject to the terms of any applicable annual bonus plan that may be adopted by the Company. The Annual Bonus, if any, shall be paid at the same time annual bonuses are paid to other senior executives of the Company generally, and shall be subject to Executive being employed by the Company on the date such Annual Bonus is paid.
Sample 1
Performance Bonus Shares. 5.2.1 Performance Bonus Pool Upon the Company's achievement of Positive Cash Flow on a quarterly basis for four (4) consecutive quarters, LECG and the K&C Member will, subject to the Requisite Shareholder Approval, transfer to Dr. Kyung Soon Song, as a performance bonus, a number of their voting Shares of the Company equivalent to ten percent (10%) of the Company's outstanding Shares. Furthermore, concurrently herewith, LECG and the K&C Member, subject to Requisite Shareholder Approval, shall create a performance bonus pool of new Shares equivalent to fifteen percent (15)% of the then outstanding Shares of the Company after the closing of the Share Subscription Agreement (the "Performance Bonus Shares"). The Performance Bonus Shares will be available for distribution over a five (5) year period to experts engaged by the Company once (i) the Company has achieved Positive Cash Flow on a quarterly basis for eight (8) consecutive quarters and (ii) the Company's capital account is positive. Dr. Kyung Soon Song, subject to Requisite Shareholder Approval shall determine the allocation of the Performance Bonus Shares among the experts engaged by the Company. Without limiting the foregoing, the Parties will continue to explore alternative structures to permit the transfers of Shares to Dr. Kyung Soon Song and to the Company's other experts in a tax efficient manner. 5.2.2 Undertaking Dr. Kyung Soon Song and any Person receiving Performance Bonus Shares pursuant to Section 5.1.3.1 above shall furnish an Undertaking to the Shareholders and the Company upon receipt of such Shares.
Sample 1
Performance Bonus Shares. Sellers shall be entitled to receive performance bonus shares (the “Performance Bonus Shares”) The Performance Bonus Shares pool shall be based solely on the Business’s internal revenue growth, excluding any revenues from acquisitions, and shall be determined as follows: (a) Using the Business gross revenue amount for the year ended December 31, 2012, as outlined in the Financial Statements as the base (the “Base”) (b) Subtract the Base from the December 31, 2013 audited year end revenue amount (the “Performance Bonus Year“). The balance is a dollar amount that gets converted to common shares at a rate of $1.00 for one share (c) Repeat steps (a) and (b) for three (3) successive years, whereby the Performance Bonus Year becomes the Base for the second year calculation. To receive the Performance Bonus Shares, Sellers must be under a valid Consulting Agreement with Buyer at the time of each Performance Bonus Year. Sellers shall inform Buyer on the desired Performance Bonus Shares pool individual allocation and shall be paid immediately after the completion of Buyer’s consolidated audited financial statements for the relevant year. The Performance Bonus Shares shall be issued from Buyer’s treasury in accordance with Rule 144 of the SEC.
Sample 1

Related to Performance Bonus Shares

  • 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.

  • Performance Shares Each Performance Share is a bookkeeping entry that records the equivalent of one Share. Upon the vesting of the Performance Shares as provided in Section 2, the vested Performance Shares will be settled as provided in Section 3.

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • 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 Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • 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.

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