Common use of Annual Incentive Awards Clause in Contracts

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus for each fiscal year of the Company ending during the Employment Period (each, an “Annual Bonus”) equal to 200% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the “Committee”) for such fiscal year. The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder.

Appears in 2 contracts

Samples: Employment Agreement (Cendant Corp), Employment Agreement (Wyndham Worldwide Corp)

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Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Annual Bonus for each fiscal year of the Company ending during the Period of Employment Period (each, an "Annual Bonus") equal to 200100% of the Executive’s 's Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the "Committee") for such fiscal year. The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2½) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s 's executive management team; provided that any such election is made by the Executive in compliance with Section 409A ("Section 409A") of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations promulgated thereunder.

Appears in 2 contracts

Samples: Employment Agreement (Avis Budget Group, Inc.), Employment Agreement (Avis Budget Group, Inc.)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Target Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an “Annual Bonus”) equal to 200% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Incentive Compensation Committee of the Board (the “Committee”) for such fiscal year. year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Target Annual Bonus or an Annual Bonus less than the target Target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder.. FORM OF EMPLOYMENT AGREEMENT

Appears in 2 contracts

Samples: Employment Agreement (Realogy Corp), Employment Agreement (Realogy Corp)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an "Annual Bonus") equal to 200100% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the "Committee") for such fiscal year. The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2½) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Avis Budget Group, Inc.)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Target Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an “Annual Bonus”) equal to 200% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Incentive Compensation Committee of the Board (the “Committee”) for such fiscal year. year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Target Annual Bonus or an Annual Bonus less than the target Target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Realogy Corp)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Target Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an "Annual Bonus") equal to 200% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Incentive Compensation Committee of the Board (the "Committee") for such fiscal year. year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Target Annual Bonus or an Annual Bonus less than the target Target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2½) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Cendant Corp)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an “Annual Bonus”) equal to 200% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the “Committee”) for such fiscal year. year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Realogy Corp)

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Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an "Annual Bonus") equal to 200100% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the "Committee") for such fiscal year. year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2½) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Avis Budget Group, Inc.)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Annual Bonus for each fiscal year of the Company ending during the Employment Period (each, an “Annual Bonus”) equal to 200150% of the Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the “Committee”) for such fiscal year. year The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s executive management team; provided that any such election is made by the Executive in compliance with Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”) and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Cendant Corp)

Annual Incentive Awards. The Executive shall be eligible to earn a target annual bonus Annual Bonus for each fiscal year of the Company ending during the Period of Employment Period (each, an "Annual Bonus") equal to 200150% of the Executive’s 's Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Compensation Committee of the Board (the "Committee") for such fiscal year. The Committee may establish such metrics whereby the Executive may earn an Annual Bonus in excess of the target Annual Bonus or an Annual Bonus less than the target Annual Bonus. Any Annual Bonus that becomes payable to the Executive pursuant to this Section shall be paid to the Executive as soon as reasonably practicable following receipt by the Board of the audited consolidated financial statements of the Company for the relevant fiscal year, but in no event later than two and a half (2 1/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. The Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump sum cash payment, or, at his election, in any form that the Board generally makes available to the Company’s 's executive management team; provided that any such election is made by the Executive in compliance with Section 409A ("Section 409A") of the Internal Revenue Code of 1986, as amended (the "Code") and the regulations promulgated thereunder.

Appears in 1 contract

Samples: Employment Agreement (Avis Budget Group, Inc.)

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