Performance Salary Incentive Sample Clauses

Performance Salary Incentive. In addition to the base annual salary provided in sections 6.1.1. and 6.1.2. above, and the performance-based incentive pay option set forth in section 6.1.3 above, the Superintendent shall be eligible to receive salary enhancements in accordance with Section 1001.50, Florida Statutes, if: 6.2.1. He meets and maintains the certification requirements for the special qualification salary as set forth in Section 1001.47(4), Florida Statutes (a $2,000.00 annual recurring enhancement) by completing, obtaining, and maintaining the certification through the Florida Association of District School Superintendents. If the certification is earned during a school year, the increase shall be prorated from the date the certification received to June 30th of that year; and/or 6.2.2. He receives and maintains a Chief Executive Officer Leadership Development Certificate as set forth in Section 1001.47(5), Florida Statutes (a $3,000.00 to $7,500.00 annual recurring enhancement) by completing, obtaining, and maintaining the certification through the Florida Association of District School Superintendents. If the certification is earned during a school year, the increase shall be prorated from the date the certification received to June 30th of that year. It is specifically understood between the parties that any monies earned under this section 6.2 shall not be considered a part of the Superintendent’s base salary.
Sample 1Sample 2
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Performance Salary Incentive. In addition to the base salary provided above, the Superintendent shall be eligible to receive salary enhancements in accordance with Section 1001.50, Florida Statutes, if: 1. The Superintendent meets and maintains the certification requirements for the special qualification salary (Section 1001.47(4), Florida Statutes) (a $2,000 annual enhancement) and 2. The Superintendent receives and maintains a Chief Executive Offer Leadership Development Certificate (Section 1001.47(5), Florida Statutes) (an annual enhancement per rating). 3. It is specifically understood between the parties that any salary enhancement earned under this paragraph shall not be considered part of the Superintendent’s base salary.
Sample 1Sample 2
Performance Salary Incentive. In addition to the base salary provided above, the Superintendent shall be eligible to receive salary enhancements if: 1. The Superintendent maintains all seven school grades as a “C” or above payable upon the release of the school grades (a $5,000 annual enhancement) and 2. It is specifically understood between the parties that any salary enhancement earned under this paragraph shall not be considered part of the Superintendent’s base salary.
Sample 1
Performance Salary Incentive. In addition to the base annual salary provided in sections 6.1.1. and 6.1.2. above, the Superintendent shall be eligible to receive salary enhancements in accordance with Section 1001.50, Florida Statutes, if: 6.2.1. He meets and maintains the certification requirements for the special qualification salary as set forth in Section 1001.47(4), Florida Statutes (a $2,000.00 annual recurring enhancement) by completing, obtaining, and maintaining the certification through the Florida Association of District School Superintendents. If the certification is earned during a school year, the increase shall be prorated from the date the certification received to June 30th of that year; and/or 6.2.2. He receives and maintains a Chief Executive Officer Leadership Development Certificate as set forth in Section 1001.47(5), Florida Statutes (a $3,000.00 to $7,500.00 annual recurring enhancement) by completing, obtaining, and maintaining the certification through the Florida Association of District School Superintendents. If the certification is earned during a school year, the increase shall be prorated from the date the certification received to June 30th of that year. It is specifically understood between the parties that any monies earned under this section 6.2 shall not be considered a part of the Superintendent’s base salary.
Sample 1

Related to Performance Salary Incentive

  • 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.

  • 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.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

  • 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.

  • 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.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

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

  • 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.

  • 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.

  • 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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