Short-Term Incentive Bonus. Executive shall be eligible for an annual short term incentive-bonus (“STI”) based on the achievement of certain financial goals. For the financial year ending June 30, 2008, fifty percent of the STI will be based on achievement of Centro Distributions per Security target and maximum goals (as defined by the Centro Board) and fifty percent of the STI will be based on achievement of Centro US Funds from Operations target and maximum goals (as defined by the Centro CEO and the Centro US CEO). The target and maximum goals for the financial year ending June 30, 2008 shall be established prior to July 31, 2007. If a target goal is achieved, Executive shall receive a STI of 30% of Base Salary for that STI measure. If a maximum goal is achieved, Executive shall receive a STI of 42.5% of Base Salary for that STI measure. If performance for a measure between target goal and maximum goal is achieved, Executive shall receive a pro rata STI between 30% and 42.5% of Base Salary for that measure. Any payment of a prorated STI, if target for a measure is not achieved, shall be subject to the discretion of the Centro Board. For the financial year ending June 30, 2007, Executive shall be eligible for a guaranteed STI payment (the “Stub STI Payment”) between US$50,000 and US$75,000, the amount of such guaranteed STI within such range to be at the discretion of the Centro Board payable by July 31, 2007. For financial years commencing after June 30, 2008, the Centro Board may change the basis upon which STI may be calculated, but if the target is achieved the Executive shall continue to receive an STI payout of a total of 60% of Base Salary and if the maximum goal is achieved the payout shall be a total of 85% of Base Salary (the “STI Range”). If Executive’s employment is terminated for any reason prior to the end of a financial year, he shall not be entitled to a prorated STI unless otherwise specifically agreed by the Centro Board. Notwithstanding anything contained herein to the contrary, a change in the basis upon which STI may be calculated after June 30, 2008 (but not a reduction to the STI Range) shall not constitute a breach or violation of this Agreement by the Company or constitute Good Reason for Executive to terminate his employment. With the exception of the STI for the financial year ending June 30, 2007, all STI amounts will be paid at the first appropriate opportunity after June 30 of that financial year, but not later than July 31 of that same calendar year.
Short-Term Incentive Bonus. Employee shall be entitled to participate in the Bank's Value-Added Short-Term Incentive Plan and shall receive whatever award is provided for Employee under that Plan.
Short-Term Incentive Bonus. In addition to Annual Base Salary, the Executive shall participate in an annual incentive bonus plan. Such plan shall provide the Executive with the opportunity to earn a bonus based on satisfaction of performance criteria of EBITDA for NFM as set out below. Bonus Percentage EBITDA of Annual Base Salary ------ --------------------- At least $1,000,000 10% The bonus payable pursuant to this Section 2(b)(ii) for any fiscal year shall be paid to the Executive no later than the 30th day following the issuance of the audited financial statements of NFM for such year.
Short-Term Incentive Bonus. During the Employment Period, Executive will be eligible for an annual, discretionary, performance-based Short-Term Incentive (“STI”) cash bonus (the “STI Bonus”) targeted at 50% of Base Salary (which will be prorated for fiscal year 2022) on such terms and conditions as may be determined by the CEO and the Board or the Compensation Committee. The STI Bonus earned, if any, with respect to a fiscal year will be subject to the performance of Executive and the Company during such fiscal year, relative to performance goals established for such fiscal year by the CEO and the Board or the Compensation Committee. The Compensation Committee shall determine the level of attainment of performance goals and the amount of the STI Bonus following the end of each fiscal year. Except as provided in Section 7 of this Agreement, Executive shall be eligible to receive the STI Bonus (if any) provided that Executive is actively employed by the Company on the date the STI Bonus is paid. The Board will establish the STI goals for fiscal year 2022 that are applicable to Executive, which may consist of the same STI goals for fiscal year 2022 that have already been established for other senior executives.
Short-Term Incentive Bonus. In addition to Annual Base Salary, during the Employment Period the Executive shall participate in an annual incentive bonus plan. Such plan shall provide the Executive with the opportunity to earn a bonus based on achievement of performance criteria. The incentive bonus plan shall be structured such that the Executive shall receive up to fifty percent (50%) of Annual Base Salary for attainment of certain target performance goals (prorated for any partial year of employment), with a maximum bonus of one hundred percent (100%) of Annual Base Salary for extraordinary performance (prorated for any partial year of employment). The Compensation Committee will establish the performance criteria and goals in consultation with the Executive. The bonus payable pursuant to this Section 2(b)(iii) for any fiscal year shall be paid to the Executive no later than the thirtieth (30th) day following the issuance of the audited financial statements of FECI for such year. Notwithstanding the foregoing, the annual incentive bonus with respect to 1999 shall be not less than Fifty Thousand Dollars ($50,000), which minimum amount shall be paid to the Executive within five (5) days following the Effective Date.
Short-Term Incentive Bonus. In addition to Annual Base Salary, the Executive shall participate in an annual incentive bonus plan. Such plan shall provide the Executive with the opportunity to earn a bonus based on satisfaction of performance criteria of gross revenues for IGI. Specifically, the Executive shall be entitled to receive a bonus equal to .62% of the amount by which IGI's annual gross revenues exceed Twenty Million Dollars ($20,000,000), but less than Forty Million Dollars ($40,000,000), and 1% of the amount of IGI's annual gross revenues exceed Forty Million Dollars ($40,000,000), (collectively, the "Target Figures"). The bonus payable pursuant to this Section 2(B)(ii) for any fiscal year shall be paid to the Executive in estimated quarterly payments with the year-end payment due no later than the 30th day following the issuance of the audited financial statements of IGI for such year. Notwithstanding the foregoing, the Compensation Committee shall have full authority to set and change the Target Figures, as it sees fit. The first full annual period shall be April 1, 2000, to March 31, 2001 and there shall be a prorated partial period from the date hereof to March 31, 2000.
Short-Term Incentive Bonus. Executive will be entitled to participate in any bonus plan or other incentive compensation program now or hereafter applicable to X-Rite’s executives. Executive’s annual performance bonus potential shall initially be forty-eight percent (48%) of his Base Salary if X-Rite achieves “Average Performance” and seventy-two percent (72%) of his Base Salary if X-Rite achieves “Excellent Performance,” each as defined in Exhibit A attached hereto.
Short-Term Incentive Bonus. The Company agrees to pay Employee the short-term incentive bonus that Employee would have become entitled to had Employee’s employment continued until the date upon which eligibility for such bonus is triggered under the applicable plan. Any such payment will be paid in a single lump sum and shall be paid at “target” for the relevant plan year, as defined by the plan document. Payment shall be made at the same time all active employees covered under the plan receive payment. Any bonus payment shall be subject to all applicable federal, state, and local income tax withholding.
Short-Term Incentive Bonus. You will be eligible to be considered for annual bonus compensation. Such bonus compensation will be discretionary and will be limited to a maximum of 100% of your Annual Base Salary. Bonus payments are not guaranteed. Any annual bonus that you may be awarded shall be paid on or before March 15 of the calendar year following the calendar year for which such annual bonus is earned, based on continued service through the payment date. Any annual bonus compensation for the 2009 calendar year will be prorated, as consistent with the Company’s policy.
Short-Term Incentive Bonus. 5.1 The Company has adopted a management incentive bonus plan for its executives, which plan is currently known as the "Management Incentive Compensation Plan" (herein the "MIC Plan"), and a Key Executive Long-Term Cash Incentive Plan (herein the "LTIP").
