Other Goals definition

Other Goals. The Incentive Plan shall be determined in the sole discretion of the Board and the Employee and may vary from year to year. The Incentive Plan shall be memorialized and a copy of the same shall be provided to the Company's Certified Public Accountants (CPAs). Subsequent to the conclusion of the year the CPAs shall compare the actual results of operations for said year to the Incentive Plan. The Incentive Plan shall set forth a target bonus amount, One Hundred Percent (100%) of which shall be payable for accomplishing One Hundred Percent (100%) of Targets and Other Goals which amount shall be Seventy-Five Percent (75%) of Base Salary (hereinafter "Target Bonus Amount") for the year ending December 31, 1997. The Board of Directors can modify upward the Target Bonus Amount as part of the salary review process for years subsequent to 1997. The actual amount, if any, of Incentive Compensation to which the Employee may be entitled shall range on a linear basis from Fifty Percent (50%) of Target Bonus Amount if Eighty Percent (80%) of Targets are achieved to a maximum of One Hundred Fifty Percent (150%) of Target Bonus Amount if One Hundred Twenty Percent (120%) of Targets are achieved. Sixty Percent (60%) of Incentive Compensation as determined shall be automatically due and payable to the Employee based on the level of accomplishment of Targets and the remaining Forty Percent (40%) shall be payable as determined by the Board of Directors based upon the accomplishment of Other Goals. No Incentive Compensation shall be paid if less than Eighty Percent (80%) of Targets are achieved. By way of example, if Base Salary is Five Hundred Thirteen Thousand Nine Hundred Dollars ($513,900.00), One Hundred Percent (100%) of Target Bonus Amount at accomplishment of One Hundred Percent (100%) of Targets and Other Goals shall be Three Hundred Eighty-Five Thousand Four Hundred Twenty-Five Dollars ($385,425.00). If the Company achieves Eighty Percent (80%) of Targets, Target Bonus Amount shall be One Hundred Ninety-Two Thousand Seven Hundred Twelve and 50/100 Dollars ($192,712.50) (i.e., .5 x $385,425.00) and One Hundred Fifteen Thousand Six Hundred Twenty-Seven and 50/100 Dollars ($115,627.50) (i.e., .6 x $192,712.50) shall be automatically due and payable to the Employee with up to the full balance of Seventy-Seven Thousand Eighty-Five Dollars ($77,085.00) (i.e., .4 x $192,712.50) payable upon the achievement of Other Goals. By way of further example: If Base Salary is Five Hu...
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Examples of Other Goals in a sentence

  • Other Goals will be specified actions or results relating to the Company as a whole, specific business lines of the Company, ▇▇.

  • The portion of the Performance Bonus that may be earned based on the Profits Goal will be weighted 75% and the portion that may be earned based on the Other Goals will be weighted 25%.

  • The Committee may specify payout levels above the level of 25% of the Target Performance Bonus corresponding to above-target performance with respect to Other Goals, either as a term specified when the Other Goals are established or otherwise in its discretion, provided that such above-target payouts will not exceed 37.5% of the Target Performance Bonus.

  • In such case, the Committee will have authority to pay out up to 150% of the Target Performance Bonus for the fiscal year (i.e., both the Profits Goal portion and the Other Goals portion of the Performance Bonus), with any decision of the Committee to pay out a lesser amount constituting negative discretion for purposes of Code Section 162(m).

  • Other Goals: Enter any other goals client chooses to pursue requiring training and/or recertification that places him/her on pathway to productive employment.

  • For clarity, payment of the Performance Bonus corresponding to the pre-set payout levels for the Profits Goal and the Other Goals, if less than the maximum performance level is attained, would constitute an exercise of negative discretion for purposes of Code Section 162(m).

  • The Other Goals will be one or more quantitative and/or qualitative goals established by the Committee, with the Other Goals providing an award opportunity with an aggregate target payout level as a weighted portion of the Target Performance Bonus assigned by the Committee to the Other Goals (specifying the payouts for each Other Goal).

  • Other Goals will be specified actions or results relating to the Company as a whole, ▇▇.

  • The Committee will retain discretion to adjust the manner of determination of the Other Goals or to adjust upward or downward the payout relating to Other Goals, including but not limited to cases in which performance is less than a designated threshold level or target level of one or more Other Goals.

  • In the event that performance is less than a designated threshold level or target level of one or more Other Goals, if the “gate-keeper” goal has been achieved (as set forth below), the Committee will retain discretion to determine the level of payout, if any, of the Target Performance Bonus, subject to the applicable limits as set forth below.

Related to Other Goals

  • Performance Goals means, for a Performance Period, the one or more goals established by the Board for the Performance Period based upon the Performance Criteria. Performance Goals may be based on a Company-wide basis, with respect to one or more business units, divisions, Affiliates, or business segments, and in either absolute terms or relative to the performance of one or more comparable companies or the performance of one or more relevant indices. Unless specified otherwise by the Board (i) in the Award Agreement at the time the Award is granted or (ii) in such other document setting forth the Performance Goals at the time the Performance Goals are established, the Board will appropriately make adjustments in the method of calculating the attainment of Performance Goals for a Performance Period as follows: (1) to exclude restructuring and/or other nonrecurring charges; (2) to exclude exchange rate effects; (3) to exclude the effects of changes to generally accepted accounting principles; (4) to exclude the effects of any statutory adjustments to corporate tax rates; (5) to exclude the effects of items that are “unusual” in nature or occur “infrequently” as determined under generally accepted accounting principles; (6) to exclude the dilutive effects of acquisitions or joint ventures; (7) to assume that any business divested by the Company achieved performance objectives at targeted levels during the balance of a Performance Period following such divestiture; (8) to exclude the effect of any change in the outstanding shares of Common Stock of the Company by reason of any stock dividend or split, stock repurchase, reorganization, recapitalization, merger, consolidation, spin-off, combination or exchange of shares or other similar corporate change, or any distributions to common stockholders other than regular cash dividends; (9) to exclude the effects of stock based compensation and the award of bonuses under the Company’s bonus plans; (10) to exclude costs incurred in connection with potential acquisitions or divestitures that are required to expensed under generally accepted accounting principles; and (11) to exclude the goodwill and intangible asset impairment charges that are required to be recorded under generally accepted accounting principles. In addition, the Board retains the discretion to reduce or eliminate the compensation or economic benefit due upon attainment of Performance Goals and to define the manner of calculating the Performance Criteria it selects to use for such Performance Period. Partial achievement of the specified criteria may result in the payment or vesting corresponding to the degree of achievement as specified in the Award Agreement or the written terms of a Performance Cash Award.

  • Goals means the annual level of participation by SBEs in City Contracts as established in this chapter, the SBE Regulations, or as necessary to comply with applicable federal and state nondiscrimination laws and regulations. Goals for individual Contracts may be adjusted as provided for in this chapter and shall not be construed as a minimum for any particular Contract or for any particular geographical area.

  • Performance Objectives means the measurable performance objective or objectives established by the Committee pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section 14(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.

  • Performance Criteria means the criteria (and adjustments) that the Committee selects for an Award for purposes of establishing the Performance Goal or Performance Goals for a Performance Period, determined as follows:

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.