Stretch Bonus Sample Clauses

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 fifty percent (50%) 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.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Stretch Bonus. If the Stretch Bonus Target is achieved, the number of Performance Shares payable to the Employee hereunder shall be the Stretch Bonus.
Sample 1Sample 2Sample 3See All (5)
Stretch Bonus. If the Stretch Bonus Target is achieved, the Performance-Based Cash Award payable to the Employee hereunder shall be the Stretch Bonus.
Sample 1Sample 2Sample 3
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).
Sample 1Sample 2
Stretch Bonus. Executive shall also be entitled to receive a stretch bonus (‘‘Stretch Bonus’’) as determined by the CEO and the Board of Directors on account of extraordinary success in furthering the company’s business objectives.
Sample 1
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.
Sample 1Sample 2
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.
Sample 1
AutoNDA by SimpleDocs
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.
Sample 1
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.
Sample 1

Related to Stretch Bonus

  • 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

  • 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.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • 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.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid 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 the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Bonus The Executive shall be eligible for Bonuses determined by the Board.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

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