Budget Bonus definition
Examples of Budget Bonus in a sentence
Executive shall be paid no Budget Bonus for any such fiscal year in which the Company's EBITDA is less than 90% of the EBITDA Target for such fiscal year.
If the Compensation Committee so certifies, the Budget Bonus will be paid promptly but in no event later than ten days after such certification.
In addition, for each of the 1998 and 1999 fiscal years and any subsequent fiscal years (or portion thereof) during the Employment Period, Executive will be paid, in addition to the Budget Bonus described in Section 4(b) below, a Performance Bonus in an amount equivalent to fifteen percent of Executive's then current Base Salary.
For each of the 1998, 1999, 2000 and 2001 fiscal years and any subsequent fiscal years (or portion thereof) during the Employment Period, Executive will be paid a bonus (the "Budget Bonus") as set forth below in subsection (b) (the bonuses described in the first sentence of this Section 4 and the "Budget Bonus" are hereinafter collectively referred to as the "Bonus").
D) Assist and oversee operating budgets, capital expenditure budgets and approve project specific budgets for use in the Company’s Budget Bonus Incentive Program.
If the amount set forth in the Budget provided by Operator for any Month exceeds the Actual Operating Expenses (the “Budget Surplus”), then Operator shall be entitled to received the Budget Bonus, subject to the Section 10.1.
For each of the 1998, 1999, 2000 and 2001 fiscal years and any subsequent fiscal years (or portion thereof) during the Employment Period, Executive will be paid a bonus (the "Budget Bonus") as set forth below in subsection (c) (the bonuses described in the first sentence of this Section 4 and the "Budget Bonus" are hereinafter collectively referred to as the "Bonus").
For each subsequent fiscal year of the Company (or portion thereof) during the Employment Period, Executive will be paid a bonus as set forth below in subsections (b) (the "2000 Bonus") and (c) (the "Budget Bonus").
The Performance Bonus and the Budget Bonus are hereinafter collectively referred to as the "Bonus".
Executive shall be paid no Budget Bonus for any such fiscal year in which the Company's EBITDA is less than 90% of the EBITDA Target for such fiscal year; PROVIDED, HOWEVER, that on each May 14 during the Employment Period, the Company and Executive shall in good faith meet to negotiate an appropriate increase in the percentage of Executive's Base Salary payable during the applicable fiscal year upon the Company's achievement of the relevant EBITDA Targets.