Annual Bonus Program. Employee shall participate in any XXX annual bonus program that is adopted by XXX and that is applicable to senior officers of XXX (subject to the terms and conditions of any such program). Any such annual bonus program must be approved by the XXX Compensation Committee and shall set forth objective criteria for bonus payments based on the financial performance of XXX. Such annual bonus program also shall set forth a target bonus objective for Employee, which shall be set by the Board in its sole discretion. The actual annual bonus amount, if any, shall be paid in accordance with the terms of such program and may be paid in cash or stock incentives or a combination of cash and stock incentives.
Annual Bonus Program. 1. For each fiscal year of the Company during the Employment Term, the Board, after taking into consideration the recommendations of the President of the Company, will establish an EBITDA Target (“Target”) for the Company, based on the operating budget established for the Company for each such year. The Target for fiscal year 2005 is set at $102,200,000. For all purposes under this program, the term “EBITDA” shall mean GAAP cash flows from operating activities, including income from joint ventures, before interest paid, income taxes paid, changes in working capital and certain other charges (specifically including SFAS 133 gains and losses and litigation settlements, as well as charges associated with strategic and financial initiatives, including acquisitions, divestitures, financing transactions and restructuring efforts such as plant closings).
Annual Bonus Program. For each calendar year of the Agreement, Employee will be eligible to participate in any annual bonus programs (the “Annual Bonus”) established by the Board from time-to-time for the benefit of Company management, in each case to the extent Employee is eligible under the terms of such annual bonus program.
Annual Bonus Program. (a) During each calendar year of the Employment Period, Executive will be eligible to participate in the Company’s annual short-term performance incentive plan applicable to executives in the same or similar positions to that of Executive, as such plan may exist from time to time (the “PIP”). The amount of Executive’s target annual bonus under the PIP for each calendar year during the Employment Period (each a “Target Annual Bonus”) shall be determined by the Executive Compensation Committee in its discretion. The amount of the actual annual bonus, if any, awarded to Executive under the PIP with respect to any calendar year during the Employment Period (each an “Annual Bonus Award”) shall be determined in accordance with the terms of the PIP as administered by the Executive Compensation Committee. All decisions regarding the criteria to be used to determine awards under the PIP (which may consist of both corporate and individual performance factors and metrics), the amount, if any, to be awarded to Executive under the PIP with respect to any calendar year during the Employment Period and interpretations of the terms of the PIP shall be made solely and exclusively by the Executive Compensation Committee in its discretion. The Company reserves the right to change, alter, or terminate the PIP at any time in its sole discretion; provided, that no such change, alteration or termination shall adversely affect Executive’s rights under this Agreement, or with respect to any Annual Bonus Award made prior to the date of such change, alteration or termination, without Executive’s prior written consent.
Annual Bonus Program. Within 15 calendar days following the Closing Date, Parent will, or will cause the Surviving Corporation to, make a payment to each participant in the Company’s 2011 annual bonus program (the “Annual Bonus Program”) in an amount equal to the greater of (i) the actual amount due to such employee under the terms of the Annual Bonus Program based on performance through the Closing Date, assuming (A) full achievement of all individual performance goals, (B) full payment in respect of the discretionary component of such bonus, (C) without regard to any negative discretion under the Annual Bonus Program to adjust the bonus amount, and (D) without regard to any charges relating to, or arising from, the Transactions contemplated by this Agreement, and (ii) the participant’s target bonus amount under the Annual Bonus Program (the “2011 Annual Bonus Amount”). The 2011 Annual Bonus Amount will be pro rated (determined by the number of days between January 1, 2011 and the Closing Date over 365). Section 6.7(e) of the Company Disclosure Letter provides information regarding the number of participants in the Company’s Annual Bonus Program and the estimated aggregate target bonus amount. Within 15 calendar days following the date of this Agreement, the Company will provide to Parent a list that sets forth the name of each participant in the Annual Bonus Program and such participant’s target bonus amount under the Annual Bonus Program.
Annual Bonus Program. For each calendar year of the Agreement, Executive will be eligible to participate in any annual bonus programs (the “Annual Bonus”) established by the Board (excluding Executive in his capacity if a member of the Board) from time-to-time for the benefit of Company management, in each case to the extent Executive is eligible under the terms of such annual bonus program.
Annual Bonus Program. Employee shall participate in any NutraCea annual bonus program that is adopted by NutraCea (subject to the terms and conditions of any such program). Any such annual bonus program shall be approved by the NutraCea Compensation Committee of the Board of Directors and shall set forth objective criteria for bonus payments based on the financial performance of NutraCea and specific sales related goals and objectives set for the Employee. Such annual bonus program also shall set forth a target bonus objective for Employee, which target amount initially shall be fifty percent (50%) of
Annual Bonus Program. In addition to the Base Salary, Employee shall be eligible to participate in the Company’s annual bonus program (“Annual Bonus”) with a total bonus potential of up to 25% of Employee’s Base Salary for each fiscal year during the Term of Employment (the “Target Bonus Amount”). Employee shall only be eligible for the Annual Bonus if there are no publicly reportable audit findings for that fiscal year, and if Employee is employed as an active employee on the last day of the fiscal year in which the Annual Bonus relates. The Annual Bonus amounts, if any, will be paid in accordance with the Company’s customary payroll practices in effect from time to time. The final amount of the Annual Bonus earned shall not be determined until the Company’s annual 10-k filing. The Annual Bonus shall be paid out as follows:
Annual Bonus Program. Employee shall participate in any NutraCea annual bonus program that is adopted by NutraCea and that is applicable to senior officers of NutraCea (subject to the terms and conditions of any such program). Any such annual bonus program must be approved by the NutraCea Compensation Committee and shall set forth objective criteria for bonus payments based on the financial performance of NutraCea. Such annual bonus program also shall set forth a target bonus objective for Employee, which target bonus initially shall be fifty percent (50%) of Employee’s Base Salary. The actual annual bonus amount, if any, shall be paid in accordance with the terms of such program
Annual Bonus Program. (a) During each calendar year of the Employment Period, Executive will be eligible to participate in the Company’s annual short-term performance incentive plan applicable to senior executives, as such plan may exist from time to time (the “PIP”). Executive’s target annual bonus award under the PIP for each calendar year of the Employment Period will be equal to Executive’s Base Salary for such calendar year (each, a “Target Annual Bonus”). The amount of the actual annual bonus, if any, awarded to Executive under the PIP with respect to any calendar year during the term (each an “Annual Bonus Award”) shall be determined in accordance with the terms of the PIP as administered by the Committee of the Board of Directors having responsibility for executive compensation matters (the “Executive Compensation Committee”) after considering any input received from Executive as part of Executive’s annual review. All decisions regarding the criteria to be used to determine awards under the PIP (which may consist of both corporate and individual performance factors and metrics), the amount, if any, to be awarded to Executive under the PIP with respect to any calendar year during the Employment Period and interpretations of the terms of the PIP shall be made solely and exclusively by the Executive Compensation Committee in its discretion; provided, however, that in determining Executive’s Annual Bonus Award, if any, with respect to any calendar year during the Employment Period, the corporate (as opposed to individual) performance factors and metrics that are taken into account and the percentage of the award that is based on corporate and individual performance factors shall be the same for Executive as those applied to other senior executives of the Company. The Company reserves the right to change, alter, or terminate the PIP at any time in its sole discretion; provided, that no such change, alteration or termination shall adversely affect Executive’s rights under this Agreement, or with respect to any Annual Bonus Award made prior to the date of such change, alteration or termination, without Executive’s prior written consent; and provided, further, that if no PIP is in place with respect to any calendar year during the Employment Period, then a substitute target annual short-term performance incentive award shall be established for Executive with respect to such calendar year, with a value equal to Executive’s annualized Base Salary for such year, having terms confo...
