Stretch Bonus Clause Samples

Stretch Bonus. Subject to the terms and provisions of this Agreement, Executive shall be eligible to earn an annual stretch bonus (the “Stretch Bonus”) in the amount described below with respect to fiscal year 2006 and any fiscal year thereafter, in each case during the Employment Term. The maximum Stretch Bonus that may be earned for any fiscal year shall be 25% of Executive’s Base Salary for such year. The Stretch Bonus shall be earned only if Holdings’ actual EBITDA (determined in a manner that is consistent with its past methodology and practice) is at least 115% of Holdings’ targeted EBITDA, as set by the Holdings Board (or a committee thereof) in its discretion, for the applicable fiscal year. Except as otherwise provided in Section 8 below, if a Stretch Bonus has been earned, the Company shall pay the Stretch Bonus to Executive in a single sum cash payment within 30 days after Holdings’ EBITDA for the applicable fiscal year has been finally determined; provided the Executive is employed by the Company on such date.

Stretch Bonus. If the Stretch Bonus Target is achieved, the number of Performance Shares payable to the Employee hereunder shall be the Stretch Bonus.

Stretch Bonus. Executive shall also be entitled to receive a one-time stretch bonus (“Stretch Bonus”) (i) equal to 2.5% of the value of a sale transaction (“Transaction”) which the Company approves and consummates within the five year period commencing on the Effective Date of this Agreement, which Transaction is valued at more than $500 million up to $1 billion; or (ii) equal to 5% of the value of a Transaction which the Company approves and consummates within the five year period commencing on the Effective Date of this Agreement, which Transaction is valued at more than $1 billion. (a) For the purposes of this Agreement, a Transaction is defined as any one of the following transactions: (i) A sale or other disposition of the Company’s equity securities representing more than 50% of the then-outstanding voting securities entitled to vote in the election of directors to any Person (as defined herein) that is then not an Affiliate (as defined herein) of the selling party; (ii) A merger, consolidation, or reorganization of the Company; (iii) The direct or indirect sale, transfer, conveyance or other disposition, in one or a series of related transactions, of all or substantially all of the properties or assets of the Company to any Person that is not an Affiliate of the selling party; or (iv) Any other transaction the intent of which may reasonably and equitably be construed to effect a result substantially equivalent to that described in paragraphs (a), (b) or (c) above, as determined in the sole and absolute discretion of the Board of the Company. (b) As used herein, “Person” means any individual, corporation, partnership, firm, joint venture, association, limited liability company, limited liability partnership, joint-stock company, trust, unincorporated organization, governmental, judicial or regulatory body, business unit, division or other entity. “Affiliate” means, with respect to any Person, any other Person controlling, controlled by or under common control with such Person, where “control” is defined as the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

Stretch Bonus. If the Stretch Bonus Target is achieved, the Performance-Based Cash Award payable to the Employee hereunder shall be the Stretch Bonus.

Stretch Bonus. Executive shall also be entitled to receive a stretch bonus (“Stretch Bonus”) as determined by the CEO and board of directors on account of extraordinary success in the pursuit of the company’s business objectives.

Stretch Bonus. In addition to the Basic Bonus and for each calendar year (or other fiscal year period, if the Company changes from a calendar fiscal year) during the Employment Period, the Executive shall be eligible to receive an additional bonus of up to sixty-five percent (65%) of the Executive’s Base Salary (“Stretch Bonus”), in the event of the Executive’s satisfaction of objective stretch performance criteria that have been pre-established by the Compensation Committee following consultation with the Executive. C. Section 2.1(b) (iii) is deleted in its entirety. D. The final paragraph of Section 2.1(b) is amended to read in its entirety as follows: All bonuses, to the extent earned for a particular year, shall be paid in the following calendar year but prior to March 15th of such following calendar year. The Basic Bonus and Stretch Bonus shall be referred to herein as the “Target Bonus” and shall be calculated based on the annual Base Salary as in effect at the end of each applicable calendar year. The Executive acknowledges and agrees that if the Company becomes a “publicly held corporation” within the meaning of Section 162(m)(2) of the Internal Revenue Code of 1986, as amended (the “Code”), that all annual compensation bonuses described in this Section 2.1(b) may, in the Company’s discretion, be payable pursuant to a “qualified performance based compensation” bonus plan established by the Company in accordance with Code Section 162(m) and the regulations thereunder; provided that target percentages of Executive’s Base Salary associated with the Basic Bonus (100%) and Stretch Bonus (65%) shall not be reduced under any such “qualified performance based compensation” bonus plan. 2. The Agreement is further amended to delete any other reference to Super Stretch Bonus, including the parenthetical (“but not any Super Stretch Bonus)” found at section 4.2(iii).

Stretch Bonus. If the Stretch Bonus Target is achieved, the number of Restricted Stock Units to which the Employee shall be entitled hereunder shall be the Stretch Bonus.

Stretch Bonus. Beginning for fiscal year 2004 and for each fiscal year thereafter during the Employment Period, based on achievement of criteria determined by the Board as soon as administratively practicable following the beginning of each such fiscal year with input from Executive, Executive shall be eligible to receive a "stretch bonus" in an amount up to, but not exceeding, 50% of Executive's then Base Salary (the "Stretch Bonus"). The Company shall pay the Stretch Bonus in a single cash lump-sum following the end of the Company's fiscal year in accordance with procedures established by the Board, but in no event later than April 15 of the subsequent fiscal year.