Performance Incentive Bonus. The Executive shall also be entitled to receive an annual performance-based incentive bonus from the Company during the term of this Agreement with a target bonus amount not less than $400,000 per annum (as the Board may, but shall not be obligated to adjust from time to time, the “Target Bonus”), the actual amount of the bonus to be determined by the Board, in good faith, on an annual basis pursuant to a bonus plan based on factors including, without limitation, the Company’s achievement of earnings before interest, taxes, depreciation and amortization and net debt targets (the “Bonus Plan”); ; provided, that Executive’s 2008 Bonus shall be determined as set forth on Exhibit B. The bonus amount to be paid to the Executive in any given year pursuant to the Bonus Plan shall be referred to as the Executive’s “Bonus.” The Bonus shall be paid to the Executive within thirty (30) days following the availability of the Company’s annual financial statements and shall be payable in cash.
Performance Incentive Bonus. Due to the unique nature and conditions associated with the industry the Parties agree that the Company may develop and implement a performance or skills bonus scheme to apply to an FTM(s) engaged under this Agreement and subject to the following:
(a) The bonus will take into account and be based upon skills, safety, production, quality, equipment condition, environmental compliance, market conditions, performance or any other criteria as determined by the Company;
(b) The Parties agree that the bonus is only payable where an FTM’s skills are critical and productivity exceeds productivity targets as determined by the Company;
(c) The bonus will be tailored by the Company to suit the nature of the activities performed by individual FTMs;
(d) The bonus will be in addition to any employment benefits provided for in this Agreement and may be paid as an hourly supplement to classification wages or as a weekly or one- off lump sum amount;
(e) In the event that the individual bonus applies to only one classification it will not have a flow on to other areas of work or classifications under this Agreement;
(f) The Company has absolute discretion with regard to the implementation and/or content and/or payment of the bonus scheme and may withdraw the bonus scheme at any time.
Performance Incentive Bonus. In addition to any other compensation provided for herein and in the Employment Agreement, and based upon achievement of milestone objectives established by the Board of Directors of the Company, the Company shall pay Executive $210,300, in seven equal installments (the "Performance Incentive Bonus") on each regularly scheduled payroll date between October 5, 2001 and December 31, 2001.
Performance Incentive Bonus. The Parties recognise the unique nature and conditions associated with Civil Construction in Queensland. The Parties therefore accept that Lis-Con Concrete Construction Pty Ltd may develop and implement a performance or skills bonus scheme to apply to Employees engaged under this agreement and subject to the following:
(a) The bonus will take into account and be based upon skills, safety, production, quality, equipment condition, environmental compliance, performance or any other criteria as deemed by Lis-Con Concrete Construction Pty Ltd;
(b) The Parties agree that the bonus is only payable where workforce skills are critical and productivity exceeds productivity targets as determined by Lis-Con Concrete Construction Pty Ltd;
(c) The bonus will be tailored by Lis-Con Concrete Construction Pty Ltd to suit the nature of the activities performed by individual Employees;
(d) The bonus will be in addition to any employment benefits provided for in this Agreement and may be paid as an hourly supplement to classification wages or as a weekly or one-off lump sum amount;
(e) In the event that the individual bonus applies to only one classification it will not have a flow on to other areas of work or classifications under this agreement;
(f) For the avoidance of doubt, there will be no industrial action taken by the Parties to this Agreement in relation to this bonus or a similar bonus for employees other than those referred to in subclause (c); and
(g) Lis-Con Concrete Construction Pty Ltd has absolute discretion with regard to the implementation and/or content and/or payment of the bonus scheme and may withdraw the bonus scheme at any time.
Performance Incentive Bonus. The Company shall pay to Executive the amounts set for on Exhibit A (the “Performance Bonuses”) upon achievement of the related performance criteria set forth on Exhibit A, as determined by the Board. In addition, the Company shall pay to Executive a Performance Bonus if the Board duly resolves to abandon the achievement of the related performance criteria.
Performance Incentive Bonus. The Executive shall also be entitled to receive an annual performance-based incentive bonus from the Company during the term of this Agreement with a target bonus amount not less than $1,500,000 per annum (as the Board may, but shall not be obligated to adjust from time to time, the “Target Bonus”), the actual amount of the bonus to be determined by the Board, in good faith, on an annual basis pursuant to a bonus plan based on factors including, without limitation, the Company’s achievement of earnings before interest, taxes, depreciation and amortization (“EBITDA”) and net debt targets (the “Bonus Plan”). The bonus amount to be paid to the Executive in any given year pursuant to the Bonus Plan shall be referred to as the Executive’s “Bonus.” The Bonus shall be paid to the Executive within thirty (30) days following the availability of the Company’s annual financial statements and shall be payable in cash; provided, that in no event shall the Bonus be paid later than the end of the calendar year following the calendar year to which the Bonus relates.
Performance Incentive Bonus. The Executive shall also be entitled to receive a quarterly performance based incentive bonus from the Company for each fiscal quarter of the Company during the term of this Agreement, pursuant to the Company's Performance-Based Bonus Plan for executive officers and significant employees as set forth in the attached Appendix "A." The bonus shall be paid to Executive within thirty (30) days following the availability of the Company's financial statements and shall be payable in cash, provided however, Executive may elect in his sole discretion to receive up to 50% of his bonus award in shares of restricted shares of Company common stock (the "Restricted Shares") which stock shall be valued at a price per share equal to the closing price of the Company's stock on the last trading day of the fiscal quarter less a ten percent (10%) discount. The Company shall use its best efforts to register, and maintain the effectiveness of the registration, for resale all of the Restricted Shares awarded to Executive pursuant to a Form S-8 (or any successor form) registration statement under the Securities Act.
Performance Incentive Bonus. You will be eligible to earn an additional bonus (the “Performance Incentive Bonus”) in the aggregate amount of four million dollars ($4,000,000), on the following basis: (1) 50% of the Performance Bonus will become vested upon achievement of Adjusted EBITDA (“EBITDA”), determined on a trailing twelve fiscal month basis, of no less than $250 million (“Tranche 1 EBITDA Target”); and (2) 50% of the Performance Bonus will become vested upon achievement of EBITDA, determined on a trailing twelve fiscal month basis, of no less than $300 million (“Tranche 2 EBITDA Target”), provided that in each case that the applicable EBITDA Target is sustained at such level for a period of six (6) fiscal months thereafter, and except as set forth in Section 2(c)(v), Participant has remained in continuous employment from the Commencement Date until such vesting date. The EBITDA Target shall be equitably adjusted in good faith after the date hereof by the Board or the Compensation Committee of the Board to reflect the consequences of future acquisitions and dispositions. In particular, but not in limitation of the foregoing, the Board or the Compensation Committee shall equitably reduce the EBITDA Target in the event of a sale or disposition of Xxxxxxxx Inc. (“Madewell”), including without limitation by reason of a spin-off and distribution of Madewell stock to the Company’s shareholders. Payment will be made as reasonably practicable following the vesting of the applicable EBITDA Target, but in no event later than two and one-half months following the end of the calendar year in which the vesting date occurs. For this purpose, “Adjusted EBITDA” shall have the same meaning as reported to the SEC on a quarterly basis on Form 8-K.
Performance Incentive Bonus. The Executive shall also be entitled to receive an annual performance-based incentive bonus from the Company during the term of this Agreement with a target bonus amount not less than 100% of the Base Salary (as the Board may, but shall not be obligated to adjust from time to time, the “Target Bonus”), based upon the attainment of one or more pre-established performance goals established by the Board or the Company’s Compensation Committee; provided, that the bonus amount paid annually to the Executive shall not be less than Three Hundred Thousand Dollars ($300,000). The bonus amount to be paid to the Executive with respect to any given year shall be referred to as the Executive’s “Bonus.” The Bonus shall be paid within the thirty (30)-day period following the Board’s receipt of the Company’s audited financial statements with respect to the applicable performance period, and shall be payable in cash; provided, that to receive any such Bonus, the Executive must remain employed and in good standing at the time of payment.
Performance Incentive Bonus. During the Term, Employee shall be eligible to earn a Performance Incentive Compensation award (“Incentive Compensation”) in respect of each of Employer’s fiscal years, as follows: (a) a payment of up to 25% of Employee’s Base Salary rate in effect as of the end of such fiscal year to be paid in cash (the “Cash Award”); and (b) a payment of up to 20% of Employee’s Base Salary rate in effect as of the end of such fiscal year to be paid in shares of Common Stock (the “Stock Award”). The amounts of the Cash Award and the Stock Award for a fiscal year, and the extent to which such amounts are paid, shall be based on criteria relating to both the Employer’s performance as a whole and Employee’s individual performance which criteria shall be determined by the Employer’s Board of Directors or its Compensation Committee in its sole discretion, after consulting with Employee and Employer’s CEO. At the time the performance criteria are established for a particular Incentive Compensation award opportunity, Employer’s Board of Directors or its Compensation Committee will determine when such Incentive Compensation, if earned, will be paid to Employee and the method by which the number of shares of stock to be paid pursuant to a Stock Award, if earned, will be determined. Notwithstanding anything to the contrary contained herein, the Incentive Compensation will not be paid until Employer’s Board of Directors has determined, in accordance with reasonable safety and soundness standards and subject to any regulatory requirements or limitations, that the overall financial condition of Employer, including, without limitation, asset quality, will not be adversely affected by such payment. In addition, the payment of shares of Common Stock pursuant to a Stock Award shall be subject to the condition that, if at any time the Committee determines that (a) federal or state law or the rules of any securities exchange or national market system on which the Common Stock is then listed or admitted to trading require Parent or Employer to list, register or qualify such shares or take any other action before such shares may be paid or (b) such shares may not be paid without the consent or approval of a governmental agency, regulatory body or other Person, then, in either case, such payment shall not be made in whole or in part unless and until such listing, registration, qualification or other action, consent or approval shall have been effected or obtained free of any conditions that t...
