Target Bonus Plan Sample Clauses

Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the “Target Bonus Plan”), which will provide for the payment of lump sum cash bonuses to participants after the end of the calendar year to which such cash bonuses relate (and in any event no later than March 15 of the year following the calendar year to which such cash bonuses relate). Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the “Target Bonus”) each year of not less than 150% of the Executive’s Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company’s financial performance, the Executive’s contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.
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Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the "Target Bonus Plan"), which will provide for the payment of cash bonuses to participants within 90 days of the end of each fiscal year. Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the "Target Bonus") each year of not less than 175% of the Executive's Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company's financial performance, the Executive's contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.
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Target Bonus Plan. Notwithstanding any other provision of this Agreement, if the Company terminates this Agreement prior to the end of the term of this Agreement on August 30, 2003, for reasons other than for Cause, or if the Company and the Employee do not agree in writing before August 30, 2003, to extend the term of the Employee’s employment by the Company beyond August 30, 2003, the Employee shall be entitled to receive as a severance payment an amount equal to the pro rata share of the bonus, or the full bonus,as the case may be, if any, under and subject to the terms and conditions of the Target Bonus Plan referred to in Section 5.02(a) based on seventy-five (75%) percent of the Employee’s base salary actually received for the period from September 1, 2002, through the Termination Date, or through August 30, 2003, if the Employee’s employment continues through that date. This payment is equal to the amount, if any, the Employee would have received following the end of the fiscal year ended August 30, 2003, if the Target Bonus Plan did not have a requirement that the Employee be employed by the Company at the time the bonus is customarily paid. Such payment shall be made to the Employee on or about November 15 following the end of said fiscal year.”
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Target Bonus Plan. Notwithstanding any other provision of this Agreement, if the Company terminates this Agreement prior to the end of the term of this Agreement on August 28, 2004, for reasons other than for Cause, or if the Company and the Employee do not agree in writing before August 28, 2004, to extend the term of the Employee's employment by the Company beyond August 28, 2004, the Employee shall be entitled to receive as a severance payment an amount equal to the pro rata share of the bonus, or the full bonus,as the case may be, if any, under and subject to the terms and conditions of the Target Bonus Plan referred to in Section 5.02(a) based on one hundred (100%) percent of the Employee's base salary actually received for the period from August 31, 2003, through the Termination Date, or through August 28, 2004, if the Employee's employment continues through that date. This payment is equal to the amount, if any, the Employee would have received following the end of the fiscal year ended August 28, 2004, if the Target Bonus Plan did not have a requirement that the Employee be employed by the Company at the time the bonus is customarily paid. Such payment shall be made to the Employee on or about November 15 following the end of said fiscal year."
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Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the "Target Bonus Plan"), which will provide for the payment of cash bonuses to participants within 90 days of the end of each fiscal year. Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the "Target Bonus") each year of not less than 230% of the Executive's Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company's financial performance, the Executive's contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee; provided, however, that the Executive shall receive a Target Bonus each year equal to not less than 5% of the maximum Target Bonus. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.
Sample 1
Target Bonus Plan. Notwithstanding any other provision of this Agreement, if the Company terminates this Agreement prior to the end of the term of this Agreement on January 31, 2000, for reasons other than for Cause or Medical Disability, the Employee shall be entitled to receive as a severance payment an amount equal to the pro rata share of the bonus, if any, under and subject to the terms and conditions of the Target Bonus Plan referred to in Section 5.02(a) based on fifty (50%) percent of the Employee's base salary actually received for the period from the beginning of the fiscal year in which the Company so terminates this Agreement through the Termination Date. This payment is equal to the amount, if any, the Employee would have received in December following the end of the fiscal year if the Target Bonus Plan did not have a requirement that the Employee be employed by the Company at the time the bonus is customarily paid. Such payment shall be made to the Employee on December 15 following the end of the fiscal year in which the Company so terminated this Agreement.
Sample 1

Related to Target Bonus Plan

  • Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.

  • 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.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Bonus Plans During the term of Employee's employment hereunder, Employee shall be eligible to participate in the Company's annual Executive Incentive Compensation Plan (the "EIC Plan") in accordance with the applicable provisions of the EIC Plan. The standard bonus for Employee under the EIC Plan shall be forty percent (40%) of Employee's base salary.

  • 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 Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you 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 such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • 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.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

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