Target Annual Bonus Opportunity definition
Examples of Target Annual Bonus Opportunity in a sentence
The actual Annual Bonus earned with respect to a fiscal year, if any, will range from zero percent (0%) to two-hundred percent (200%) of the Target Annual Bonus Opportunity and will be based on actual performance against the performance metrics established by the Compensation Committee with respect to such fiscal year, as determined in the Compensation Committee’s sole discretion.
Once the Target Annual Bonus Opportunity has been increased hereunder it shall not subsequently be decreased during the Employment Period.
The Target Annual Bonus Opportunity shall be reviewed at least annually by the Committee for possible increase, as determined in the sole and absolute discretion of the Committee, pursuant to the normal performance review policies for senior executives of the Company.
If the Executive’s employment is terminated (x) by the Company other than for Cause or Disability or (y) by the Executive for Good Reason, in addition to the Accrued Amounts, the Executive shall be entitled to a payment equal to 1.5 times the sum of his Base Salary at the rate in effect immediately prior to the Termination Date plus the Target Annual Bonus Opportunity for the year of such termination (such payments, the “Severance Payments”).
For calendar year 2013, the Executive’s Target Annual Bonus Opportunity shall equal $260,000.
If the Executive’s employment is terminated (x) by the Company other than for Cause or Disability or (y) by the Executive for Good Reason, in addition to the Accrued Amounts, the Executive shall be entitled to a payment equal to two (2) times the sum of his Base Salary at the rate in effect immediately prior to the Termination Date plus the Target Annual Bonus Opportunity for the year of such termination (such payments, the “Severance Payments”).
The amount of the Annual Bonus actually paid shall depend on the extent to which the performance goals, set annually by the Compensation Committee, are achieved or exceeded, subject to a cap of 200% of the Target Annual Bonus Opportunity (unless otherwise determined by the Compensation Committee in its discretion), and shall be subject to other such terms as determined by the Compensation Committee in its discretion.
For calendar year 2017, the Executive’s Target Annual Bonus Opportunity shall equal $600,000.
For calendar year 2017, the Executive’s Target Annual Bonus Opportunity shall equal $275,000.
The following is a summary of the principal elements of our offer to you: Annual Base Salary $ 450,000 Target Annual Bonus Opportunity (90%) $ 405,000 Signing Bonus $ 250,000 Signing Restricted Stock Grant 25,000 shares The sign-on bonus will be payable as soon as reasonably practicable after your Employment Date (defined as your first day of employment with CSXT).