Pooled Annual Cash Bonus for the Senior Management Team and Other Employees Sample Clauses

Pooled Annual Cash Bonus for the Senior Management Team and Other Employees. After each calendar year during the Employment Period, a determination of cash bonuses to be paid among the Senior Management Team and Other Employees with respect to such calendar year (the “Pooled Annual Cash Bonus”) will be made consistent with the process and guidelines described in, and subject to the terms of, this Section 3. Any applicable Pooled Annual Cash Bonus will be paid to the applicable members of the Senior Management Team and the applicable Other Employees for which such a cash bonus has been determined by Executive to be paid by no later than February 28th in the calendar year following the calendar year to which such performance bonus relates. With respect to any particular calendar year during the Employment Period, (i) the aggregate amount of the Pooled Annual Cash Bonus shall be not less than 16% of Pre-Bonus Core Earnings (representing the equivalent of 19% of Core Earnings), but, in the Board’s discretion may be up to 18% of Pre-Bonus Core Earnings (representing the equivalent of 22% of Core Earnings) and (ii) 9% of the Core Earnings (which by way of example, would represent the equivalent of 47.4% of the aggregate amount of the Pooled Annual Cash Bonus if the aggregate amount of the Pooled Annual Cash Bonus is 16% of Pre-Bonus Core Earnings and 40.9% of the aggregate amount of the Pooled Annual Cash Bonus if the aggregate amount of the Pooled Annual Cash Bonus is 18% of Pre-Bonus Core Earnings; in each case, as such percentages may be adjusted, in Executive’s discretion, based on the Risk Retention Deferral Amount (if any) for such particular calendar year), shall be allocated to the Senior Management Team consistent with the process and guidelines described in, and subject to the terms of, this Section 3 (the “Senior Management Team’s Annual Cash Bonus Amount”).
Sample 1
AutoNDA by SimpleDocs

Related to Pooled Annual Cash Bonus for the Senior Management Team and Other Employees

  • Executive Perquisites, Benefits and Other Compensation Executive shall be entitled to receive additional benefits and compensation from the Company in such form and to such extent as specified below: (i) Payment of all premiums for coverage for Executive and his dependent family members under health, hospitalization, disability, dental, life and other insurance plans that the Company may have in effect from time to time, benefits provided to Executive under this clause (i) to be at least equal to such benefits provided to Metals executives. (ii) Reimbursement for all business travel and other out-of-pocket expenses reasonably incurred by Executive in the performance of his services pursuant to this Agreement. All reimbursable expenses shall be appropriately documented in reasonable detail by Executive upon submission of any request for reimbursement, and in a format and manner consistent with the Company's expense reporting policy. (iii) The Company shall provide Executive with other executive perquisites as may be available to or deemed appropriate for Executive by the Board and participation in all other Company-wide employee benefits as are available from time to time.

  • 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.

  • 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 Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • 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.

  • Bonus Plans A bonus is a lump sum payment that is not a permanent increase to the salary base of the individual and may be granted at the discretion of the President. A bonus may be awarded at any time and may be used for a variety of salary adjustments including, but not limited to, the following:

  • Senior Management If a Dispute occurs that the senior representatives of the Parties responsible for the transaction contemplated by this Agreement have been unable to settle or agree upon within a period of fifteen (15) calendar days after such Dispute arose, Seller shall nominate and commit one of its senior officers, and Buyer shall nominate and commit one of its senior officers, to meet at a mutually agreed time and place not later than thirty (30) calendar days after the Dispute has arisen to attempt to resolve same. If such senior management have been unable to resolve such Dispute within a period of fifteen (15) calendar days after such meeting, or if such meeting has not occurred within forty-five (45) calendar days following such Dispute arising, then either Party shall have the right, by written notice to the other, to resolve the Dispute through the relevant Independent Expert pursuant to Section 16.03.

  • Number of Employees The Union and the Employer agree that no more than one (1) position in each program shall be covered by a Job Sharing Agreement at any one time. No more than two (2) employees may share one (1) full-time position. The position being shared shall remain a regular full-time position within the bargaining unit.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!