Bonus Eligibility definition

Bonus Eligibility. Payable based on 1999 annual (calendar year) net income of Mortgage Banking Division: Net Income * Bonus Payments --------------------------------------- Under $1,000,000 0 Over $1,000,000 $ 50,000 Over $2,000,000 $125,000 Over $3,000,000 $175,000 Over $4,000,000 $225,000 Over $5,000,000 $275,000 Over $6,000,000 $325,000 If earned, payable after completion of Bank's annual audited financial statements. No bonus is earned or is payable unless you are actively employed as of the bonus payment date. Therefore, should your employment terminate for the reasons of (1) voluntary resignation or (2) for cause, you have not earned any bonus for the calendar year covered by this bonus plan. If the Mortgage Division is sold and as a result of that sale your employment is terminated within 90 days of the date of sale, you will be eligible for a bonus payment pro-rated from January 1, 1999, through the date your employment terminates. Any bonus payment will be pro-rated between net income levels and bonus payment amounts are based on actual net income performance, adjusted as outlined below. Your bonus eligibility may be changed in the future at the discretion of the Bank.
Sample 1
Bonus Eligibility. You shall be eligible to receive an annual bonus targeted at 100% of salary with a maximum payout of 190% of salary. For 2005, bonus eligibility and payment will be pro-rated, based upon Your start date. If the criteria for attaining bonus are met, the Company plans to make bonus payments to its officers on a quarterly basis as follows: Q1 – 15%; Q2 – 15%; Q3 – 15%; and Q4 – 55% (100% in the aggregate). Bonus payments are presently based on the following criteria: cumulative operating income, comparable store sales growth, and store level transactions. Bonus criteria and amounts are reviewed annually by the Compensation Committee of the Board to ensure bonuses are driving executive performance in an effective manner. All bonus payments shall be subject to all applicable Federal, state and local withholding, payroll and other taxes.
Sample 1
Bonus Eligibility. You will be eligible to participate in the Company’s annual cash bonus program for executives with a bonus target of 90% of your annual base salary and up to 180% if all our targets are exceeded. Factors such as whether bonuses are paid, eligibility for bonuses, performance objectives applicable to bonuses, bonus targets, conditions for payment of bonuses, the amount of any bonuses, and when such bonuses are paid, are at the sole discretion of the Board. You will not be eligible to receive any bonus unless you remain employed by Basic through the date on which any such bonus is paid. • Sign-On Bonus: In addition to the base salary, the Company will within 30 days following your start date pay you a one-time signing bonus in cash of $150,000, minus applicable taxes and withholdings, subject to your agreement by signing below to repay the signing bonus back to the Company on a Basic Energy Services 000 Xxxxxx Xx. Suite 2100, Unit #21 Ft. Worth, TX 76102 817.334.4100 prorated basis if, within two years of your start date, (1) the Company terminates your employment for cause (as defined in your employment agreement) or (2) you terminate your employment other than for good reason (as defined in your employment agreement). The amount due under this repayment obligation would be payable within 60 days following the date upon which your employment ends. You further authorize the Company to offset any amount you owe under this repayment obligation against any final wages or other amounts the Company owes you.
Sample 1

Examples of Bonus Eligibility in a sentence

  • Equity Bonus Eligibility: [$] The performance goals applicable to your equity bonus opportunity are set forth below.

  • Performance Targets and Equity Bonus Target Your Equity Bonus Eligibility amount is set forth below.

  • Your Accelerator Equity Bonus Eligibility amount is set forth below.

  • Should the Company consummate an Acquisition (as hereinafter defined) on or before any Cash Bonus Eligibility Date, you will not be entitled to receive any further Cash Bonus on any future Cash Bonus Payment Date pursuant to this paragraph 1.

  • Should your Service terminate before any Cash Bonus Eligibility Date by reason of (i) your voluntary resignation or (ii) a Termination for Cause (as hereinafter defined), you will not be entitled to receive any further Cash Bonus on any future Cash Bonus Payment Date pursuant this paragraph 1.

  • In the event of a Participant's termination of employment due to death or Total Disability prior to the Determination Date, such Participant's (or such Participant's estate) Bonus Eligibility Amount shall be equal to the product of (x) the Bonus Eligibility Amount and (y) a fraction (but in no event greater than one), the numerator of which is the number of full or partial months from the Commencement Date until such Participant's termination of employment and the denominator of which is fifteen (15).

  • Should your Service terminate before any Cash Bonus Eligibility Date for any reason other than (i) your voluntary resignation or (ii) a Termination for Cause, you will still be entitled to receive a Cash Bonus on each remaining Cash Bonus Payment Date.

  • No On-Target Bonus or Payout Amount will be earned, due or payable for that portion which is determined with respect to a given Performance Measure, unless the Participant achieves the “Threshold” stated in Exhibit A (i.e. 90%) or in the Participant’s Bonus Eligibility Notice for that Performance Measure, to be determined by the Committee, in its sole discretion.

  • In the event that you have continued in Service (as hereinafter defined) to the Company and/or DIS on each of June 17, 2002, September 30, 2002 and December 31, 2002 (each date, a “Cash Bonus Eligibility Date”), you will be entitled to be paid a cash bonus in the amount of Twenty-Five Thousand Dollars ($25,000) (the “Cash Bonus”) on each of June 17, 2002, October 15, 2002 and January 15, 2003, respectively (each date, a “Cash Bonus Payment Date”).

  • Bonus Eligibility and Payment Schedule Executive must be employed by the Company on the bonus payment date specified to be eligible to receive a bonus.

Related to Bonus Eligibility

  • Retirement Eligibility with respect to this Award means a Participant attaining age sixty (60) and completing five (5) Full Years of Continuous Service with the Employer; and

  • Retirement Eligible means that the Participant has either attained age 55 and completed ten (10) years of Service as an Employee or attained age 60 and completed five (5) years of Service as an Employee.

  • Bonus Deferral means the amount of a Participant’s Bonus Compensation which the Participant elects to have withheld on a pre-tax basis from his Bonus Compensation and credited to his account pursuant to Section 4.1.

  • Eligibility means the decision as to whether an individual qualifies, under financial and nonfinancial requirements, to receive program benefits.

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Eligibility Waiting Period means the continuous length of time you must be in Active Employment in an eligible class to reach your Eligibility Date.

  • Performance Year means the calendar year prior to the year in which an Annual Award is made by the Committee.

  • Eligible Earnings means the Grantee's base salary (prior to any deferrals under a cash or deferred compensation plan sponsored by the Corporation or an Affiliate) paid during the Plan Year. From time to time the Plan Administrator may, in its sole discretion, establish rules for determining the amounts of Eligible Earnings for employees who become Grantees other than on the first day of a Plan Year as well as any reduction of Eligible Earnings as a result of paid leave of absences.

  • Year of Eligibility Service means where an Employer designates a one or two 12-consecutive-month eligibility waiting period, an Employee must complete at least 1,000 Hours of Employment during each 12-consecutive-month period (measured from his date of Employment and then as of the first day of each Plan Year commencing after such date of Employment); provided, however, if an Employee is credited with 1,000 Hours of Employment in both the initial eligibility computation period and the first Plan Year which commences prior to the first anniversary of the Employee's employment commencement date, the Employee will be credited, for eligibility purposes, with two Years of Eligibility Service. Where an Employer designates an eligibility waiting period of less than 12 months, an Employee must, for purposes of eligibility, complete a required number of hours (measured from his date of Employment and each anniversary thereafter) which is arrived at by multiplying the number of months in the eligibility waiting period requirement by 83 1/3; provided, however, if an Employee completes at least 1,000 Hours of Employment within the 12 month period commencing on his Employment commencement date or during any Plan Year commencing after such Employment commencement date, such Employee will be treated as satisfying the eligibility service requirements.

  • Bonus Compensation shall have the meaning set forth in Section 3(b).

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Eligibility Service of an employee means the period or periods of service credited to him under the provisions of Article II for purposes of determining his eligibility to participate in the Plan as may be required under Article III or Article VI.

  • Eligible Employees means each employee of the Company or an Affiliate.

  • Years of Service means the total number of full years in which a Participant has been employed by one or more Employers. For purposes of this definition, a year of employment shall be a 365 day period (or 366 day period in the case of a leap year) that, for the first year of employment, commences on the Employee's date of hiring and that, for any subsequent year, commences on an anniversary of that hiring date. Any partial year of employment shall not be counted.

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Award Opportunity means a cash award opportunity established under the Plan for a Participant by the Committee pursuant to such terms, conditions, restrictions and/or limitations, if any, as the Committee may establish.

  • Deferral Year means each calendar year during which the Director makes, or is entitled to make, Compensation Deferrals under Section 3 hereof.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Eligible Participant means an employee, officer, consultant or director of the Company or any Affiliate.

  • Bonus Target means the annual bonus that the Executive would have received in a fiscal year under the AIP Plan and/or the EIC Plan, if the target goals had been achieved.

  • Deferral Election means the Participant’s election under Section 3.1 to defer all or a portion of his or her Compensation.

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Award Year means a fiscal year beginning January 1 and ending December 31 with respect to which an Award may be granted.

  • Year of Service means the computation period of twelve (12) consecutive months, herein set forth, during which an Employee has at least 1000 Hours of Service.

  • Section 162(m) Participant means any key Employee designated by the Administrator as a key Employee whose compensation for the fiscal year in which the key Employee is so designated or a future fiscal year may be subject to the limit on deductible compensation imposed by Section 162(m) of the Code.