Sales Incentive Plan Sample Clauses

Sales Incentive Plan. SOME OF THE FOLLOWING PROVISIONS MAY NO LONGER BE APPLICABLE.
Sample 1
Sales Incentive Plan. During the Term, Employee shall be eligible to receive an annual sales incentive, with a target annual sales incentive in a gross amount equal to $350,000.00 (the “Target Annual Sales Incentive”) and a maximum annual sales incentive in a gross amount of $700,000.00 (any incentive payments awarded hereunder shall hereinafter be referred to as the “Sales Incentives”). The amount of the Sales Incentives will be based on Employee’s performance against certain individual and Company goals to be established in writing by the Company for each fiscal year, in consultation with Employee, with the actual amount of the Sales Incentives to be determined in the Company’s reasonable discretion based on the terms of the goals established for the applicable fiscal quarter. Sales Incentives will be determined and paid on a quarterly basis and, to the extent earned for a particular fiscal quarter, will be paid within 30 days following the end of the fiscal quarter in which the applicable services were performed, in accordance with the Company’s bonus payment practices in effect from time to time for similarly-situated employees of the Company, including tax withholdings. During the first two years of the Initial Term, the Sales Incentive performance goals will correlate with the Company’s quarterly sales bookings. Bookings for purposes of determining the Sales Incentive amount shall mean sales orders with a verified ship date to occur within 12 months after signing the contract for an order contract. The annual Sales Incentive amount shall be divided into four quarterly target payments to be paid in a linear fashion target against achievement of applicable goals. At 100% achievement, one fourth of the annual Target Annual Sales Incentive shall be paid for that quarterly performance period, up to a cap of 200% achievement. This same formula also applies to quarterly performance at less than 100% achievement. For example, if half of the quarterly goal is achieved, then only 50% of one fourth of the annual Target Annual Sales Incentive shall be paid. For the remainder of the Initial Term after the first two years and any Renewal Term, revenue and margin objectives, as well as other objectives determined by the Company, may be added to the Sales Incentive performance goals. In order to earn, accrue, and receive any Sales Incentive, Employee must be actively employed by the Company in good standing, without having received from or tendered to the Company notice of an anticipated...
Sample 1
Sales Incentive Plan. Executive shall be eligible to participate in the Company’s Sales Incentive Plan, as such plan is promulgated and amended from time to time by the Company Board. The Company retains the right to modify and/or discontinue its Sales Incentive Plan. (A) Executive shall have a target annual Short-Term Incentive Award for 2012 equivalent to 40% of his base salary payable in cash or Restricted Stock Units (“RSUs”) of the Company’s common stock or such manner as specified by the terms and conditions of the Company’s Sales Incentive Plan. The award of a bonus, if any, will be governed and controlled by the terms and conditions of the Company’s Sales Incentive Plan then in effect. (B) Equity awarded as part of the Company’s Sales Incentive Plan for 2012 shall vest 100% on the first anniversary of the grant date pursuant to the terms and conditions of the Company’s 2008 Equity Incentive Plan, as amended, the Company’s Stock Option Award Terms, and the Company’s Restricted Stock Unit Award Agreement.
Sample 1
Sales Incentive Plan. You shall be entitled to commissions in accordance with the terms of the Sales Incentive Plan attached hereto as Exhibit "A."
Sample 1

Related to Sales Incentive Plan

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

  • Incentive Program Members who are rated as either Level I, Level II or Level III in every phase of the Physical Fitness Test are eligible to participate in the Incentive Program.

  • Equity Incentive Plan The Option is a Nonqualified Option and subject to each and every provision of the Equity Incentive Plan which are incorporated by reference herein, as well as the terms and provisions set forth in this Stock Option Agreement and Notice of Grant (this “Stock Option Agreement”). The Equity Incentive Plan shall govern and be conclusive as to all matters not expressly provided for in this Stock Option Agreement. In the event of any conflict between the terms of this Stock Option Agreement and the Equity Incentive Plan, the terms of this Stock Option Agreement shall govern. All capitalized terms contained herein which are not otherwise defined herein shall have the meanings ascribed to them in the Equity Incentive Plan. By accepting the Option you agree to be bound by the provisions of the Equity Incentive Plan and this Stock Option Agreement. A copy of the Equity Incentive Plan has been previously provided to you.

  • 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.

  • Long Term Incentive Plan The Executive shall be entitled to participate in the Company’s long-term incentive plan in accordance with its terms that may be in effect from time to time and subject to such other terms as the Board, in its sole discretion, may approve.

  • Equity Incentive Plans Each stock option granted by the Company under the Company’s equity incentive plan was granted (i) in accordance with the terms of the Company’s equity incentive plan and (ii) with an exercise price at least equal to the fair market value of the Common Stock on the date such stock option would be considered granted under GAAP and applicable law. No stock option granted under the Company’s equity incentive plan has been backdated. The Company has not knowingly granted, and there is no and has been no Company policy or practice to knowingly grant, stock options prior to, or otherwise knowingly coordinate the grant of stock options with, the release or other public announcement of material information regarding the Company or its Subsidiaries or their financial results or prospects.

  • Incentive Plans During the Term of this Agreement, Executive shall be entitled to participate in all bonus, incentive compensation and performance based compensation plans, and other similar policies, practices, programs and arrangements of the Company, now in effect or as hereafter amended or established, on a basis that is commensurate with his position and no less favorable than those generally applicable or made available to other executives of the Company. The Executive's participation shall be in accordance with the terms and provisions of such plans and programs. Participation shall include, but not be limited to:

  • Long-Term Incentive Plans During the Employment Period, the Executive shall be eligible to participate in any long term incentive compensation plan maintained by the Company on the terms established from time to time by the Board or the Compensation Committee of the Board, as applicable.

  • Long-Term Incentive Program During the Term, the Employee shall participate in all long-term incentive plans and programs of the Group that are applicable to its senior executives in accordance with their terms and in a manner consistent with his position with the Company.

  • Incentive Plan During the Term, the Employee shall be eligible for incentive compensation in accordance with the following incentive plan (the “Incentive Plan”). Shortly after the beginning of each calendar year, the Company’s Board of Directors will establish a target of the Company Net Income (as defined below) for such calendar year (the “Annual Net Income Target”). In no event shall Employee earn any amount under the Incentive Plan for any calendar year during the Term unless the actual Company Net Income for such calendar year equals or exceeds ninety percent (90%) of the Annual Net Income Target for such calendar year. The threshold referred to in the immediately preceding sentence shall hereinafter be referred to as the “Annual Net Income Threshold.” For all purposes of this Employment Agreement, “Company Net Income” shall mean the net income of the Company and its subsidiaries on a consolidated basis, determined in accordance with generally accepted accounting principles consistently applied, as adjusted to exclude (x) any extraordinary non-cash or nonrecurring non-cash charges or losses incurred by the Company and its subsidiaries other than in the ordinary course of business, including but not limited to losses or expenses resulting from redemptions or repayments of indebtedness, or modifications or amendments of the Company’s credit facility, in each case net of related tax benefit, and (y) other appropriate items as determined by the Board of Directors or the Executive Compensation Committee of the Board of Directors (the “Compensation Committee”). The amount payable under the Incentive Plan to Employee for each full calendar year during the Term shall equal the Base Salary actually paid to the Employee for such calendar year multiplied by the sum of the Department Performance Percentage and the Company Performance Percentage (as determined below) for such calendar year. Not later than March 15 of each calendar year, the maximum percentages for each of the Department Performance Percentage (the “Department Maximum Performance Percentage”) and the Company Performance Percentage (the “Company Maximum Performance Percentage”) shall be established by the Compensation Committee for such calendar year within a range of forty percent (40%) and sixty percent (60%); provided that the sum of such percentages shall equal one hundred percent (100%) each calendar year. If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for the calendar year 2008, each of such percentages shall be fifty percent (50%). If the Compensation Committee shall not timely establish either or both of the Department Maximum Performance Percentage or the Company Maximum Performance Percentage for any future calendar year during the Term, the respective percentages that were applicable for the prior calendar year shall apply for such calendar year. The sum of the Department Performance Percentage and the Company Performance Percentage for each calendar year shall be referred to herein as the “Incentive Percentage.” For each calendar year the maximum Incentive Percentage shall be one hundred percent (100%).

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