Performance Compensation Award Sample Clauses

Performance Compensation Award. The Award granted under this Agreement shall be a Performance Compensation Award intended to qualify as “performance-based compensation” under Section 162(m) of the Code.
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Performance Compensation Award. As of the Effective Date, pursuant to the LTIP, the Company shall grant to me a Performance Compensation Award that provides for cash payments to me equal to 4% of any payments received by the Company as incentive management fees paid by CT Mezzanine Partners III, Inc. ("Fund III") (representing 10% of the fees allocated to employees of the Company). The Performance Compensation Award shall (unless otherwise provided for herein) vest as follows: 65% shall be vested as of the Effective Date and the remaining 35% shall be vested upon the Company's receipt of the incentive management fees.
Sample 1
Performance Compensation Award. The Committee has sole authority to determine the amount granted and payable, if any, and to interpret the terms and conditions of this Agreement and the Plan. Subject to the terms of the Plan and the Agreement, the Performance Compensation Award shall be determined, awarded, and paid on or after October 31, 202_, and on or before January 31, 202_, if the Performance Goals specified in Part II, Section 1 are attained by Limoneira. The Committee shall determine the attainment of the Performance Goal. The date on which the Committee makes its determination is referred to as the “Award Date.” The date the Performance Compensation Award, if any, is paid to a Participant is referred to as the “Payment Date.”
Sample 1
Performance Compensation Award. (i) As of the Effective Date, pursuant to the LTIP, subject to shareholder approval thereof, the Company shall grant to me a Performance Compensation Award that provides for a cash payment to me equal to 8% of any payments received by the Company as incentive management fees paid by CT Mezzanine Partners III, Inc. ("Fund III"), which shall (unless otherwise provided for herein) vest as follows: 65% shall be vested as of the close of the investment period for Fund III and the remaining 35% shall be vested upon the Company's receipt of the incentive management fees. (ii) On or before the first anniversary of the date hereof, pursuant to the LTIP, subject to shareholder approval thereof, I shall be eligible receive an additional Performance Compensation Award grant as determined by the Compensation Committee in its sole discretion that provides for a cash payment to me equal to up to an additional 10% of any incentive management fees received by the Company from Fund III, which, if granted, shall (unless otherwise provided for herein) vest as follows: 65% shall be vested as of the close of the investment period for Fund III and the remaining 35% shall be vested upon the Company's receipt of the incentive management fees. (iii) Subject to shareholder approval of the LTIP, I agree to surrender my rights under, and terminate, that certain Incentive Compensation Agreement, dated as of October 15, 2003, by and between me and the Company, relating to incentive compensation payable in respect of carried interest distributions received by the Company from CT Mezzanine Partners II LP ("Incentive Compensation Agreement"); provided that the Company shall grant to me, simultaneously, a Performance Compensation Award pursuant to the LTIP that provides for equivalent incentive compensation fully vested to the extent the right to compensation under the Incentive Compensation Agreement is vested as of the date of grant. (iv) The Company covenants to use best efforts to obtain shareholder approval of the LTIP in connection with the above grants.
Sample 1
Performance Compensation Award. The Employee is entitled to participate in the 2019 Long-Term Incentive Plan and is hereby granted a Performance Compensation Award covering up to 15,000 shares of the Company’s Common Shares (the “Performance Units”), subject to the terms and conditions of the Plan.
Sample 1
Performance Compensation Award. The Committee has designated the Award as a “Performance Compensation Award” under the Plan in order to qualify such Award as “performance-based compensation” under Section 162(m) of the Code. All payments under this Agreement are intended to constitute “qualified performance-based compensation” within the meaning of Section 162(m) of the Code. This Award shall be construed and administered in a manner consistent with such intent.
Sample 1
Performance Compensation Award. On the Effective Date, the Company shall grant the Employee a performance compensation award in the form of 100,000 restricted stock units on the same terms and conditions as the performance compensation awards were made on June 1, 2011 to its executive officers.
Sample 1
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Related to Performance Compensation Award

  • 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.

  • 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.

  • Incentive Award The three (3) year rolling average of earnings growth and Return On Equity (the "XXX") and determined as of December 31 of each plan year shall determine the Director's Incentive Award Percentage, in accordance with the attached Schedule A. The chart on Schedule A is specifically subject to change annually at the sole discretion of the Company's Board of Directors. The Incentive Award is calculated annually by taking the Director's Annual Fees for the Plan Year in which the XXX and Earnings Growth was calculated times the Incentive Award Percentage.

  • 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.

  • 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 Award You are hereby awarded, on the Grant Date, a Performance Award with a target value of [AMOUNT].

  • 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.

  • Performance Awards With respect to any Performance Award, the length of any Performance Period, the Performance Goals to be achieved during the Performance Period, the other terms and conditions of such Award, and the measure of whether and to what degree such Performance Goals have been attained will be determined by the Board.

  • 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.

  • Bonus Compensation During the term hereof, the Executive shall participate in the Company’s Senior Executive Annual Incentive Plan, as it may be amended from time to time pursuant to the terms thereof (the “Plan,” a current copy of which is attached hereto as Exhibit A) and shall be eligible for a bonus award thereunder (the “Bonus”). For purposes of the Plan, the Executive shall be eligible for a Bonus, and the Executive’s specified percentage (the “Specified Percentage”) for such Bonus shall initially be fifty percent (50%) of Base Salary and shall thereafter be established annually by the Board of Directors (the “Board”) or, if the Board delegates the Specified Percentage determination process to a Committee of the Board, by such Committee. In the event the Board or Committee does not approve the Executive’s Specified Percentage within 90 days of the beginning of a fiscal year, such Specified Percentage shall be the same as the immediately preceding year. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise earned and payable for the applicable fiscal year in accordance with this Sub-Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Executive agrees and understands that any prorated Bonus payments will be made only after determination of the achievement of the applicable Performance Measures (as defined in the Plan) in accordance with the terms of the Plan. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary.

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