Annual Adjusted IBIT Performance Bonus Sample Clauses

Annual Adjusted IBIT Performance Bonus. The Compensation Committee of the Board of Directors of the Employer (the “Compensation Committee”) prepared an Adjusted IBIT Performance Bonus Table for 2015 (a copy of which is attached as Exhibit A), which is similar to the 2014 Adjusted IBIT Performance Table which was delivered to the Executive by the Compensation Committee (the “2015 Adjusted IBIT Performance Bonus Table”) in that (a) the Adjusted IBIT to be achieved by the Employer for the Executive to obtain 100% of the target bonus is based on the annual budget for such year as prepared by the management of the Employer and discussed by the management of the Employer with the Board of Directors of the Employer and (b) the target bonus payable upon achieving 100% of the target Adjusted IBIT for such year is 90% of the salary payable to the Executive for such year. Similarly, the threshold Adjusted IBIT for the year ending December 31, 2015 will be 50% of the target Adjusted IBIT for such year which, if achieved, would entitle the Executive to receive 50% of the target bonus for such year consistent with the 2015 Adjusted IBIT Performance Bonus Table. Similarly, the maximum Adjusted IBIT for such year is 200% of the target Adjusted IBIT for such year which, if achieved, would entitle the Executive to receive 200% of the target bonus for such year consistent with the 2015 Adjusted IBIT Performance Bonus Table. Notwithstanding anything to the contrary contained in this Agreement, the Adjusted IBIT Performance Bonus for 2015 will be zero if the Adjusted IBIT achieved by the Employer for such year is less than the threshold Adjusted IBIT for such year, and in no event will the Adjusted IBIT Performance Bonus for such year be more than the maximum target bonus for such year even if the Adjusted IBIT achieved by the Employer for such year exceeds the maximum Adjusted IBIT for such year. The Employer shall pay in the year commencing January 1, 2016 to the Executive the Adjusted IBIT Performance Bonus earned by the Executive for the year ending December 31, 2015 within ten days of the Employer filing with the Securities and Exchange Commission its Annual Report on Form 10-K for such year; provided, however if the date established by the Internal Revenue Service (the “IRS Payment Date”) by which such payment must be made in order for the Employer to deduct the amount of the Adjusted IBIT Performance Bonus for such year is earlier, the Employer shall pay, (y) if the Employer can determine such amount by the I...
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Related to Annual Adjusted IBIT Performance Bonus

  • Annual Performance Bonus In each calendar year of the Term of Employment, Executive shall be eligible to receive an annual incentive bonus (the “Annual Bonus”) payable in cash, pursuant to the performance criteria and targets established and administered by the Board (or a committee of directors to whom such responsibility has been delegated by the Board), with a target Annual Bonus of at least 100% of his Base Salary. The Annual Bonus payable to Executive each year shall be determined and payable as soon as practicable after year-end for such year (but no later than March 15th). The Executive’s cash bonus for the stub period of 2017 will be determined in the reasonable business judgment of the Board or another committee of directors to whom such responsibility has been delegated by the Board. To be entitled to receive any Annual Bonus, except as otherwise provided in Sections 5(c) and 5(d), Executive must remain employed through the last day of the calendar year to which the Annual Bonus relates.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • 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.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • 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.

  • 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.

  • 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”):

  • 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);

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