Targeted Bonus Sample Clauses

Targeted Bonus. In addition to the compensation set forth elsewhere in this Section 4, for each year or portion thereof during the Employment Term and any extensions thereof, the Executive shall qualify for a targeted annualized bonus ("Targeted Bonus") based upon meeting established targeted goals such that with his Base Salary and Targeted Bonus Executive will have the opportunity to earn at least $600,000 per year. No later than the Company's January Board meeting, the Company and Executive shall agree upon certain targeted financial and operating goals ("Targets") for that calendar year which may include Company specific goals such as consolidated return on equity, asset quality and performance of the Company's wealth management services. The established Targets shall be consistent with the financial plan for the Company as adopted by the Company's Board. Within 75 days after the end of each calendar year, the Board (or a committee of the Board to which the Board has delegated such authority) shall make a good faith determination as to the extent to which the Targets have been met by the Company for the preceding calendar year. If the Targets have been met, then Executive shall receive a Targeted Bonus for such preceding year up to a maximum of $300,000 for calendar 2003 and in subsequent years such amounts as the Board may determine, subject to the aforementioned condition that the sum of annual base compensation plus Targeted Bonus for the year is at least $600,000. In the event that the established Targets are exceeded, then Executive shall be entitled to receive additional bonus amounts above the Targeted Bonus pursuant to the previously determined formula applicable to that year. If the Board (or such committee of the Board) determines that the Targets have not been fully met, but minimum thresholds as may be established by the Board (or such committee) have been met, the Board (or such committee) shall make a good faith determination as to the extent that the Targets have been met and determine the amount of such Targeted Bonus to be awarded to the Executive based proportionately upon the extent to which the Targets are determined to have been met. Executive shall also be eligible to receive such other bonuses or incentive payments as may be approved by the Board of Directors. Without limiting the foregoing, Executive shall be entitled to receive a draw against such annual Targeted Bonus at the rate of $15,000 per month (subject to such withholdings as may be re...
Sample 1Sample 2See All (16)
AutoNDA by SimpleDocs
Targeted Bonus. Beginning in 2011, you will be eligible to receive a discretionary annual bonus targeted for 30% of your annual salary upon meeting certain goals mutually set on an annual basis by the Compensation Committee of the Board. Any bonus payable hereunder shall be paid prior to March 15 of the calendar year following the calendar year to which such bonus relates.
Sample 1Sample 2Sample 3See All (6)
Targeted Bonus. “Targeted Bonus” shall mean, for each fiscal year of the Company, either (i) a bonus program in which Executive shall be entitled to participate, which provides Executive with a reasonable opportunity, based on the past compensation practices of the Company and Executive’s then base salary, to maintain or increase Executive’s total compensation compared to the previous fiscal year or (ii) a targeted bonus based on such factors as the Board may determine.
Sample 1Sample 2Sample 3
Targeted Bonus. In addition to the compensation set forth elsewhere in this Section 4, for each year or portion thereof during the Employment Term and any extensions thereof, the Executive shall qualify for a targeted annualized bonus (“Targeted Bonus”) based upon meeting established targeted goals. No later than the Company’s January Board meeting in 2006 and subsequent years, the Company and Executive shall agree upon certain targeted financial and operating goals (“Targets”) for that calendar year which may include Company specific goals such as consolidated return on equity, asset quality and performance of the Company’s wealth management services with performance levels set at Threshold and Target. The established Targets shall be consistent with the financial plan for the Company as adopted by the Company’s Board. Within 75 days after the end of each calendar year, the Board (or a committee of the Board to which the Board has delegated such authority) shall make a good faith determination as to the extent to which the Targets have been met by the Company for the preceding calendar year. Based upon meeting previously established goals for 2005, Executive shall be entitled to a Targeted Bonus of $198,000 for performance at Threshold and $270,000 for performance at Target after subtracting all draws against such Targeted Bonus for 2005. For 2006 and 2007, Executive shall be entitled to a Targeted Bonus of 36% of the then applicable Base Salary for the year for performance at Threshold and 50% of the then applicable Base Salary for the year for performance at Target. In each of the three years, for performance between Threshold and Target and above Target the payment shall be interpolated on a straight line basis between Threshold and Target and above; provided that (i) for 2005 that portion of the Targeted Bonus attributable to earnings per share shall be increased by 40% to the extent that performance is above Target, and (ii) for 2006 and 2007, the entire portion of the Targeted Bonus attributable to performance above Target shall be increased no less than 23% and no more than 43% as determined by the Board (or a committee of the Board to which the Board has delegated such authority). No Targeted Bonus shall be due for performance below Threshold. Executive shall also be eligible to receive such other bonuses or incentive payments as may be approved by the Board of Directors.
Sample 1
Targeted Bonus. In addition to the compensation set forth elsewhere in this Section 3, for each year during the Employment Term, the Executive shall qualify for a targeted annualized bonus (“Targeted Bonus”) based upon meeting established targeted goals with respect to the Company and/or its Affiliates.
Sample 1
Targeted Bonus. In each calendar year during the Employment Term and any extensions thereof, $45,000 of Executive’s projected commission income pursuant to subsection 4.2 shall be held back as a potential bonus (“Targeted Bonus”). No later than the Company’s January Board meeting, the Company and Executive shall agree upon targeted pre-tax net income from the Company’s advisory operations (“Targets”), as well as what constitutes Threshold Performance and Exceptional Performance for that calendar year. The established Targets shall be consistent with the financial plan for the Company’s advisory operations. No bonus shall be payable if at least Threshold Performance has not been met. If at least Threshold Performance has been met a bonus shall be payable as follows: (i) 80% of the Targeted Bonus if performance is between Threshold Performance and Target; (ii) 100% of the Targeted Bonus if performance is between Target and Exceptional Performance; and (iii) 120% of the Targeted Bonus if performance is at Exceptional Performance or higher. Executive shall also be eligible to receive such other bonuses or incentive payments as may be approved by the Board of Directors.
Sample 1
Targeted Bonus. In addition to the Base Salary and the bonuses described in Section 4(c)(i) and Section 4(c)(ii) above, Xxxxxxxxx shall be paid an annual targeted bonus (“Targeted Bonus”) equal to $150,000 (one hundred fifty thousand dollars), subject to the Company exceeding a target level of net income approved by the Board of Directors of the Company. The Targeted Bonus shall be paid within 45 days following the end of each fiscal year of the Company. For purposes of Section 6(a), the Targeted Bonus shall be deemed to be earned on the last day of each calendar year that Xxxxxxxxx remains employed by the Company, with the first such Targeted Bonus being earned on December 31, 2007.
Sample 1
AutoNDA by SimpleDocs
Targeted Bonus. There will be no bonus eligible during the Employment Term.
Sample 1
Targeted Bonus. For purposes of this Agreement, the Yearly Targeted Bonus for a particular fiscal year will be two hundred fifty percent (250%) (or, in the discretion of the Special Compensation Committee, a greater percentage) of the Base Salary or, as the case may be, of the Adjusted Base Salary for the fiscal year associated with such June 30. In the case of a particular fiscal year, if the Executive achieves the financial goals set for the Executive for that year (which goals shall be set each year by the Special Compensation Committee to the Board based upon the criteria currently in use), then the Company will pay the entire (or, in the discretion of the Special Compensation Committee, a greater amount) Yearly Targeted Bonus. If such goals are not achieved by the Executive for a particular fiscal year, the exact portion of the Yearly Targeted Bonus to be paid for that particular fiscal year shall be determined in accordance with the provisions of the Company's existing executive bonus plan.
Sample 1

Related to Targeted Bonus

  • 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.

  • 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.

  • 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

  • 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 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”):

  • 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.

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

  • Pro-Rated Bonus Pro Rated Bonus" shall mean, a bonus equal to the product of (i) the bonus Employee did not receive but would have received under Section 1.4(b) if he had remained an employee through the end of the Employment Term, it being understood that the amount of such bonus Employee would have received shall be determined by reference to the average amount of bonus actually awarded to other officers who were at the same or comparable level of responsibility as Employee immediately prior to his termination, and (ii) a fraction, the denominator of which is 365 and the numerator of which is the number of days in the fiscal year being considered through the date of death, determination of disability or notice of termination of employment, whichever is applicable. In the event that a majority of SCI officers do not receive a bonus for the fiscal year being considered, then the Pro Rated Bonus shall not be applicable and Employee shall not be entitled to a Pro Rated Bonus. The Pro Rated Bonus, if any, payable to Employee shall be paid within 90 days after the date that bonuses, if any, are awarded for a majority of SCI officers for the year being considered.

  • 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.

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