Synergy Bonus Sample Clauses

Synergy Bonus. At the beginning of each of the calendar years, the Board (or the Compensation Committee thereof) shall establish target goals for the synergies to be attained as a result of the integration of the Household Products Business (the "Synergy Goals"). Not later than 90 days after the end of each such year in which the portion of the Synergy Goals achieved are at least equal to 75%, the Employee shall be paid a cash bonus (the "Synergy Bonus") equal to a percentage of his Annual Base Salary to be determined as follows:
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Synergy Bonus. Executive shall be eligible to earn a bonus based on certain milestones (“Synergy Goals”) to be established for Executive by Company for Executive’s performance during calendar years 2009 and 2010. These Synergy Goals will be set forth in a schedule that will be provided to Executive within the first 60 days of calendar year 2009. Provided such Synergy Goals are satisfied, Executive’s total target Synergy Bonus for the 2009 and 2010 calendar years shall be $ 483,750 (“Synergy Bonus Target”), less all appropriate federal and state income and employment taxes. Sixty percent (60%) of the Synergy Bonus Target or $ 290,250 (“2009 Target”) will be payable provided Executive achieves the Synergy Goals established for the 2009 calendar year by the end of 2009. The remaining forty percent (40%) of the Synergy Bonus Target or $ 193,500 (“2010 Target”) will be payable provided Executive achieves the Total Synergy Goal (combined amount of Synergy Goals for 2009 and 2010) by the end of 2010. All terms and conditions of the Synergy Bonus will be governed by and subject to the Synergy Bonus Plan, which is attached to the Waiver and Release of Rights Agreement as Exhibit 3.
Sample 1See All (4)
Synergy Bonus. At the beginning of each of the calendar years 1999, 2000, 2001 and 2002, the Board (or the Compensation Committee thereof) shall establish target goals for the synergies to be attained as a result of the integration of the business Household Products, Inc., a subsidiary of the Company (the "HPG Group"), into the Company (the "Synergy Goals"). Not later than 90 days after the end of each such year in which the portion of the Synergy Goals achieved are at least equal to 75%, the Executive shall be paid a cash bonus (the "Synergy Bonus") equal to a percentage of his Annual Base Salary to be determined as follows:
Sample 1Sample 2
Synergy Bonus. Executive shall be eligible to earn a bonus based on certain milestones (“Synergy Goals”) to be established for Executive by Company for Executive’s performance during calendar years 2009 and 2010. The Synergy Goals for calendar year 2009 will be set forth in a schedule that will be provided to Executive within the first 60 days of calendar year 2009. The Synergy Goals for calendar year 2010 will be set forth in a schedule that will be provided to Executive no later than the first 60 days of 2010. Provided such Synergy Goals are satisfied, Executive’s total target Synergy Bonus for the 2009 and 2010 calendar years shall be $975,000 (“Synergy Bonus Target”), less all appropriate federal and state income and employment taxes. Sixty percent (60%) of the Synergy Bonus Target or $585,000 (“2009 Target”) will be payable provided Executive achieves the Synergy Goals established for the 2009 calendar year by the end of 2009. The remaining forty percent (40%) of the Synergy Bonus Target or $390,000 (“2010 Target”) will be payable provided Executive achieves the Total Synergy Goal (combined amount of Synergy Goals for 2009 and 2010) by the end of 2010. All terms and conditions of the Synergy Bonus will be governed by and subject to the Synergy Bonus Plan, which is attached to this Letter Agreement as Exhibit D. Notwithstanding the above, the parties agree that the (A) Synergy Bonus described herein shall not be included as part of the compensation or benefits due pursuant to the Employment Agreement and shall not be included for purposes of calculating any other benefits payable to the Executive either under the Employment Agreement or the Change in Control Agreement entered into between Company and Executive and (B) the Synergy Bonus shall not be considered a “Payment” for purposes of Section 7 of the Employment Agreement or Section 11 of the Change in Control Agreement and will not be included in any calculations referenced therein or any Section 280G Gross-up Payment due to you under the Letter Agreement or otherwise.
Sample 1
Synergy Bonus. (a) Unless Employee shall have voluntarily terminated his employment for other than Good Reason prior to the first anniversary of the Effective Date, then the Company will pay Employee an additional bonus amount to reflect the amount of synergies created with respect to the period commencing on the Effective Date and ending on the second anniversary of the Effective Date through the Acquisition (the "Synergy Bonus"). Attachment A sets forth the procedures for determining the amount of the Synergy Bonus. (b) The Synergy Bonus will be an amount equal to 17.5% of calculated synergies, up to a maximum Synergy Bonus of $1,050,000; provided, however, that if Xxxxx Xxxxxxx shall have voluntarily terminated his employment for other than Good Reason prior to the second anniversary of the Effective Date, then Employee's Synergy Bonus will be an amount equal to 25% of calculated synergies, up to a maximum Synergy Bonus of $1,500,000. Any annual cash bonus amounts paid or payable to Employee under Section 4.b. of this Agreement or otherwise with respect to the period commencing on the Effective Date and ending on the second anniversary of the Effective Date shall reduce dollar-for-dollar any Synergy Bonus amount payable to Employee. (c) Subject to the procedures set forth on Attachment A, the Synergy Bonus, if applicable, will be paid within 90 days after the second anniversary of the Effective Date, but in no event shall the Synergy Bonus be paid later than March 15th of the calendar year after the calendar year in which the second anniversary of the Effective Date occurs.
Sample 1
Synergy Bonus. (a) Unless Employee shall have voluntarily terminated his employment for other than Good Reason prior to the second anniversary of the Effective Date, then the Company will pay Employee an additional bonus amount to reflect the amount of synergies created with respect to the period commencing on the Effective Date and ending on the second anniversary of the Effective Date through the Acquisition (the "Synergy Bonus"). Attachment A sets forth the procedures for determining the amount of the Synergy Bonus. (b) The Synergy Bonus will be an amount equal to 7.5% of calculated synergies, up to a maximum Synergy Bonus of $450,000. Any annual cash bonus amounts paid or payable to Employee under Section 4.b. of this Agreement or otherwise with respect to the period commencing on the Effective Date and ending on the second anniversary of the Effective Date shall reduce dollar-for-dollar any Synergy Bonus amount payable to Employee. (c) Subject to the procedures set forth on Attachment A, the Synergy Bonus, if applicable, will be paid within 90 days after the second anniversary of the Effective Date, but in no event shall the Synergy Bonus be paid later than March 15th of the calendar year after the calendar year in which the second anniversary of the Effective Date occurs.
Sample 1
Synergy Bonus. At the beginning of each of the calendar years beginning in 1999, the Board (or the Compensation Committee thereof) shall establish target goals for the synergies to be attained as a result of the integration of the HPG Business into Windmere (the "Synergy Goals"). Not later than 90 days after the end of each such year in which the portion of the Synergy Goals achieved are at least equal to 75%, the Employee shall be paid a cash bonus (the "Synergy Bonus") equal to a percentage of his Annual Base Salary to be determined as follows:
Sample 1
AutoNDA by SimpleDocs

Related to Synergy Bonus

  • Longevity Bonus After twenty (20) years of continuous service, an employee will receive a longevity bonus of seven hundred dollars ($700) per year, payable in one lump sum by the second pay period following the employee's anniversary date.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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 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”).

  • 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.

  • 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.

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