Common use of Annual Bonus Clause in Contracts

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 10 contracts

Samples: Change of Control (State Bancorp Inc), Change of Control (State Bancorp Inc), Change of Control (State Bancorp Inc)

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Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest comparable bonus under any predecessor or successor plan, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 7 contracts

Samples: Control Employment Agreement (Healthaxis Inc), Control Employment Agreement (Healthaxis Inc), Change in Control Employment Agreement (Healthaxis Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.. (iii)

Appears in 7 contracts

Samples: Change of Control Employment Agreement Agreement (First Security Corp /Ut/), Change of Control Employment Agreement Agreement (First Security Corp /Ut/), Change of Control Employment Agreement Agreement (First Security Corp /Ut/)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest average annual cash bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Average Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 6 contracts

Samples: Employment Agreement (Nevada Chemicals Inc), Employment Agreement (Merit Medical Systems Inc), Employment Agreement (Merit Medical Systems Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus bonus, excluding any payments of cash in lieu of pension (the "Annual Bonus") ), in cash at least equal to the Executive's highest annual bonus for the last three two full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 6 contracts

Samples: Control Employment Agreement (Irt Property Co), Control Employment Agreement (Irt Property Co), Control Employment Agreement (Irt Property Co)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual management incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 5 contracts

Samples: Employment Agreement (Mosinee Paper Corp), Employment Agreement (Mosinee Paper Corp), Employment Agreement (Mosinee Paper Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than that the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 5 contracts

Samples: Employment Agreement (City National Corp), Employment Agreement (City National Corp), Employment Agreement (City National Corp)

Annual Bonus. In addition to Annual Base Salary, the The Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus (whether in cash or Common Stock of the Company) paid or payable under the Company's annual incentive program for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 5 contracts

Samples: Change of Control Agreement (CCC Globalcom Corp), Change of Control Agreement (Weatherford Enterra Inc), Change of Control Agreement (CCC Globalcom Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest annual bonus for paid or payable, including by reason of any deferral, to the last Executive by the Company and its affiliated companies in respect of the three full fiscal years prior to immediately preceding the fiscal year in which the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) occurs (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus. In the event that, at the Effective Date, the Executive has not been awarded a bonus for a full fiscal year, then the Recent Bonus shall be deemed to be 50% of the Annual Base Salary.

Appears in 5 contracts

Samples: Severance Agreement (Workflow Management Inc), Severance Agreement (Workflow Management Inc), Severance Agreement (Workflow Management Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive bonus plans, including, without limitation, its Designated Executive Incentive Plan and Management Incentive Plan, or any comparable bonus under any predecessor or successor plan or plans, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 5 contracts

Samples: Employment Agreement (Office Depot Inc), Employment Agreement (Office Depot Inc), Employment Agreement (Office Depot Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 5 contracts

Samples: Employment Agreement (Conexant Systems Inc), Employment Agreement (Conexant Systems Inc), Employment Agreement (Conexant Systems Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Protected Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest ’s target bonus for under the last three full fiscal years Company’s annual incentive plan in effect immediately prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual BonusBonus pursuant to the terms and conditions of the Company’s Deferred Compensation Plan.

Appears in 4 contracts

Samples: Change of Control Agreement (Rockwell Automation Inc), Change of Control Agreement (Rockwell Automation Inc), Change of Control Agreement (Rockwell Automation Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's ’s highest bonus under the Company’s annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next two and a half months following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 4 contracts

Samples: Employment Agreement (City National Corp), Employment Agreement (City National Corp), Employment Agreement (City National Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Protected Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest ’s target bonus for under the last three full fiscal years Company’s annual incentive plan in effect immediately prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid following the end of the applicable fiscal year and no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual BonusBonus pursuant to the terms and conditions of the Company’s Deferred Compensation Plan.

Appears in 4 contracts

Samples: Change of Control Agreement (Rockwell Automation, Inc), Change of Control Agreement (Rockwell Automation, Inc), Change of Control Agreement (Rockwell Automation, Inc)

Annual Bonus. In addition Addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive plans, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 4 contracts

Samples: Employment Agreement (Beazer Homes Usa Inc), Employment Agreement (Beazer Homes Usa Inc), Employment Agreement (Beazer Homes Usa Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive plans, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 3 contracts

Samples: Employment Agreement (Beazer Homes Usa Inc), Employment Agreement (Beazer Homes Usa Inc), Employment Agreement (Beazer Homes Usa Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest target bonus under the Company's annual incentive plans for the fiscal year in which the Effective Date occurs (or if no target bonus has been set for such fiscal year, the Executive's target bonus for the last three full immediately preceding fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) year (the "Recent Annual Target Bonus")). Each such Annual Bonus shall be paid no later than 75 days after the end last day of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 3 contracts

Samples: Change of Control (Louisiana-Pacific Corp), Change of Control (Louisiana-Pacific Corp), Change of Control (Louisiana-Pacific Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's ’s highest bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of any such fiscal yearyear and received a pro-rated bonus as a consequence) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than two and one-half months after the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual BonusBonus pursuant to a written deferred compensation plan of the Company or an affiliated company.

Appears in 3 contracts

Samples: Change of Control Employment Agreement (State Bancorp Inc), Change of Control (State Bancorp Inc), State Bancorp Inc

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's ’s highest bonus under the Company’s annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 3 contracts

Samples: Employment Agreement (Mindspeed Technologies, Inc), Employment Agreement (Mindspeed Technologies, Inc), Employment Agreement (Mindspeed Technologies, Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's ’s highest bonus under the Company’s annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than that the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 3 contracts

Samples: Employment Agreement (City National Corp), Employment Agreement (City National Corp), Employment Agreement (City National Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest average bonus under the Company's annual incentive plans, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Average Bonus"). Each such Annual Bonus annual bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus annual bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonusannual bonus.

Appears in 3 contracts

Samples: Employment Agreement (First Chicago NBD Corp), Employment Agreement (First Chicago NBD Corp), First Chicago NBD Corp

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus opportunity (the "Annual Bonus") in cash at least equal as favorable as that to which he would have been entitled under the Executive's highest annual bonus plan of the Company in effect for the last three full fiscal years year prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Management Continuity Agreement (Lowes Companies Inc), Management Continuity Agreement (Lowes Companies Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive ------------ shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest average bonus under the Company's annual incentive plans, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Average Bonus"). Each such Annual Bonus annual bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus annual bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonusannual bonus.

Appears in 2 contracts

Samples: Employment Agreement (Bank One Corp), Bank One Corp

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Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 2 contracts

Samples: Employment Agreement (Renaissance Entertainment Corp), Employment Agreement (Renaissance Entertainment Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to his highest target bonus as fixed by the Executive's highest bonus for Compensation Committee of the Company during the last three full fiscal years prior to the Effective Date (annualized in the event that if the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall , to be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonusits receipt.

Appears in 1 contract

Samples: Employment Agreement (First Commerce Corp /La/)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest ’s target bonus under the Company’s annual incentive plans for the fiscal year in which the Effective Date occurs (or if no target bonus has been set for such fiscal year, the Executive’s target bonus for the last three full immediately preceding fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) year (the "Recent Annual “Target Bonus"”)). Each such Annual Bonus shall be paid no later than 75 days after the end last day of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Change of Control (Louisiana-Pacific Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall ------------ be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest average bonus under the Company's annual incentive plans, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Average Bonus"). Each such Annual Bonus annual bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus annual bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonusannual bonus.

Appears in 1 contract

Samples: Employment Agreement (Bank One Corp)

Annual Bonus. In addition to the Annual Base Salary, the Executive shall be awardedeligible to receive, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal up to the Executive's highest target bonus for (which shall not be less than the last three full fiscal years prior to current target bonus of 50% of Annual Base Salary) most recently established before the Effective Date (annualized in under the event that the Executive was not employed by the Company for the whole of such fiscal year) Corporation's Management Incentive Plan, or under any successor plan (the "Recent Annual Target Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Agreement (Marsh Supermarkets Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's annual incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Change of Control (First Security Corp /Ut/)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus opportunity (the "Annual Bonus") in cash at least equal as favorable as that to which he would have been entitled under the Executive's highest annual bonus plan of the Company in effect for the last three full fiscal years year prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.. (iii)

Appears in 1 contract

Samples: Management Continuity Agreement for Executive Officers   Agreement (Lowes Companies Inc)

Annual Bonus. In addition to the Annual Base Salary, the Executive shall be awardedeligible to receive, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal up to the Executive's highest target bonus for (which shall not be less than the last three full fiscal years prior to current target bonus of 35% of Annual Base Salary) most recently established before the Effective Date (annualized in under the event that the Executive was not employed by the Company for the whole of such fiscal year) Corporation's Management Incentive Plan, or under any successor plan (the "Recent Annual Target Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Agreement (Marsh Supermarkets Inc)

Annual Bonus. In addition to Annual Base Salary, the ------------ Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest annual bonus for paid or payable, including by reason of any deferral, to the last Executive by the Company and its affiliated companies in respect of the three full fiscal years prior to immediately preceding the fiscal year in which the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) occurs (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus. In the event that, at the Effective Date, the Executive has not been awarded a bonus for a full fiscal year, then the Recent Bonus shall be deemed to be 50% of the Annual Base Salary.

Appears in 1 contract

Samples: Severance Agreement (Workflow Management Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus for the last three (3) full fiscal years prior to the Effective Date fiscal year in which the related Potential Change in Control occurs (annualized in the event that the Executive was not employed by the Company for the whole of any such prior fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: This Agreement (Summit Bancorporation)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest comparable bonus under any predecessor or successor plan, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus. For purposes of this Section, any incentive (sales) compensation paid to the Executive shall not be included when making the determination of the Annual Bonus amount.

Appears in 1 contract

Samples: Control Employment Agreement (Healthaxis Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's incentive plans for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual BonusBonus .

Appears in 1 contract

Samples: Employment Agreement (Online System Services Inc)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's ’s highest annual target incentive opportunity under the Company’s annual incentive plan applicable to the Executive (the “Incentive Plan”), or any comparable bonus under any predecessor or successor plan, for any of the last immediately preceding three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third month March 15 of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus, in accordance with Code section 409A, pursuant to an applicable deferred compensation plan of the Company.

Appears in 1 contract

Samples: Change of Control Employment Agreement (Schering Plough Corp)

Annual Bonus. In addition to Annual Base Salary, the Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the "Annual Bonus") in cash at least equal to the Executive's highest bonus under the Company's or any of its affiliated companies' Annual Incentive Compensation Plan, or any comparable bonus under any predecessor or successor plan of the Company or any of its affiliated companies, for the last three full fiscal years prior to the Effective Date (annualized in the event that the Executive was not employed by the Company Employer for the whole of such fiscal year) (the "Recent Annual Bonus"). Each such Annual Bonus shall be paid no later than the end of the third fifth month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless the Executive shall elect to defer the receipt of such Annual Bonus.

Appears in 1 contract

Samples: Employment Agreement (Oge Energy Corp)

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