Regular Annual Bonus Sample Clauses

Regular Annual Bonus. For the 2010 fiscal year, the Executive shall be eligible for a cash performance bonus (the “2010 Bonus”) under the Company’s 2010 Management Incentive Plan, subject to achievement of the specified performance targets, with such bonus payable in 2011 within fifteen (15) days following the Company’s filing of its Form 10-K for the 2010 fiscal year. Thereafter, during the Employment Period, the Executive shall be paid an annual cash performance bonus (an “Annual Bonus”) in respect of each fiscal year that ends during the Employment Term, to the extent earned based on performance against objective performance criteria. The performance criteria, which may include individual performance goals to be assessed by the Company’s Chief Executive Officer in consultation with the Board, for any particular calendar year shall be determined in good faith by the Board, after consultation with the Company’s Chief Executive Officer, no later than sixty (60) days after the commencement of the relevant bonus period. Executive’s annual bonus opportunity for a calendar year shall equal 50% of the Executive’s Base Salary at the commencement of the year (and not on the Executive’s annualized year-end Base Salary) (the “Target Bonus”) for that year if target levels of performance for that year are achieved, with greater or lesser amounts (including zero) paid for performance above and below target (such greater and lesser amounts to be determined by a formula established by the Board for that year when it established the targets and performance criteria for that year). The Executive’s Annual Bonus for a bonus period shall be determined by the Board after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Company generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates. In carrying out its functions under this Section 5(b)(i), the Board shall at all times act reasonably and in good faith.
Sample 1Sample 2See All (5)
AutoNDA by SimpleDocs
Regular Annual Bonus. Following the 2010 fiscal year, during the Employment Period, the Executive shall be paid an annual cash performance bonus (an “Annual Bonus”) under the Company’s annual bonus plan (as in effect from time to time for senior executives) in respect of each fiscal year that ends during the Employment Period, to the extent earned based on performance against performance criteria. The performance criteria for any particular fiscal year shall be determined by the Compensation Committee of the Board (the “Committee”), in good faith, after consultation with the Company’s Chief Executive Officer, no later than sixty (60) days after the commencement of the relevant bonus period. The Executive’s annual bonus opportunity for the 2011 fiscal year shall equal 50% of the Executive’s annualized year-end Base Salary and shall be set by the Committee for each fiscal year thereafter (as applicable for a fiscal year, the “Target Bonus”), if target levels of performance for that year are achieved. The Executive’s Annual Bonus for a bonus period shall be determined by the Committee after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Company generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates.
Sample 1Sample 2See All (4)
Regular Annual Bonus. During the Term of this Agreement, the Executive shall be eligible for an annual cash performance bonus (the “Annual Bonus”) of up to 75% of Base Salary under the Company’s annual bonus plan (as in effect from time to time for senior executives), based upon the Company’s achievement of performance targets established by the Compensation Committee, after consultation with the Company’s Chief Executive Officer, no later than 60 days after the commencement of the relevant fiscal year (the “Target Bonus”). These targets will be revised annually within sixty (60) days of the beginning of each fiscal year in consultation with the Executive. The Annual Bonus is discretionary, may be cancelled or revised by the Company at any time, and may be structured as a part of a deferred compensation arrangement.
Sample 1See All (4)
Regular Annual Bonus. (i) The Employee's regular annual bonus shall be determined on a fiscal year basis for the period ending each June 30 of the Term. The bonus calculated as provided in this paragraph (c) shall be payable on or before August 1 of each year during the Term for the preceding year. The Company's Board of Directors may determine that any award under this paragraph (c) shall be payable in cash, or by agreement of Employee and the Company, in Company stock, options for Company stock, or other property. The Employee's bonus as determined under this paragraph (c) shall be hereinafter referred to as the "Regular Annual Bonus." The scale of performance in each case as set forth below shall include financial measures as agreed to by the parties based on a June 30, 2000 actual (not budgeted) baseline, which baseline shall be rebased annually, and compliance measures as agreed to by the parties on the basis of OMS and QMS outcome measures. (ii) Commencing July 1, 2000, the Employee's Regular Annual Bonus shall be the sum of two (2) components. The first component shall be attributable to the performance of the Company's Job Corps Operations, which component shall be equal to two-thirds (2/3) of the Employee's then applicable Base Salary multiplied by a percentage which is a minimum of twenty percent (20%) and a maximum of thirty-five percent (35%) (with the actual percentage to be determined within such range based upon a scale of performance mutually agreed
Sample 1

Related to Regular Annual Bonus

  • 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.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Share Class Annual Compensation Rate Class R-1 1.00% Class R-2 0.75% Class R-2E 0.60% Class R-3 0.50% Class R-4 0.25% Class R-5 No compensation paid Class R-5E No compensation paid Class R-6 No compensation paid If you hold Plan accounts in an omnibus account (i.e., multiple Plans in one account on the books of the Funds), Plans that are added to the omnibus account after May 15, 2002 may invest only in R shares, and you must execute an Omnibus Addendum to the Selling Group Agreement, which you can obtain by calling our Home Office Service Team at 800/421-5475, extension 8.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • 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.

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • 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 Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

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