Annual Incentive Bonus Sample Clauses

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.
Annual Incentive Bonus. The Compensation Committee of the Board shall provide an incentive bonus program for the Executive for each calendar year during the term of this agreement. The Executive and the Companies understand and acknowledge that, among other things, such incentive bonus program will involve achievement by the Companies of various financial objectives, which may include but are not limited to revenues and earnings, and also may include achievement by the Companies or the Executive of various mutually agreed-upon non-financial objectives. Such incentive bonus program for each calendar year beginning after December 31, 2015, shall provide the opportunity for the Executive to earn an incentive bonus of not less than one hundred percent (100%) of his Base Salary for such calendar year if the agreed upon objectives are fully achieved. The Board from time to time also may establish incentive compensation programs for the Executive covering periods of more than one (1) year, and any such programs shall be in addition to the annual incentive bonus program required by this Paragraph 5.
Annual Incentive Bonus. The Executive shall be eligible to receive an annual incentive bonus (the “Target Bonus”) for each fiscal year during the Term of this Agreement, based on satisfactory achievement of reasonable performance criteria and objectives (satisfaction of such criteria and objectives, “Target Performance”) to be adopted by the Board, as advised by the Compensation Committee of the Board (the “Compensation Committee”), in its sole discretion, after consultation with management, each year prior to or as soon as practicable after the commencement of such year, but in no event later than March 1 of the applicable performance year, and set forth in a written plan (the “Annual Bonus Plan”). If (i) the Compensation Committee determines that Target Performance has been fully achieved with respect to a given performance year and (ii) the Executive is employed by the Company throughout the entirety of such year (January 1 through December 31), then the Executive shall be entitled to receive payment of the full Target Bonus. If the Compensation Committee determines that Target Performance is not achieved with respect to the applicable performance year, then the Compensation Committee may determine whether any Target Bonus shall be payable to the Executive for such year. The Target Bonus, if any, shall be paid to the Executive no later than 30 days after the date the Board, or the Compensation Committee, determines (i) whether or not Target Performance for such performance year has been achieved, and (ii) the amount of the actual bonus; provided that, except as may be set forth in the Annual Bonus Plan, in no event shall any Target Bonus payable be paid later than February 15 of the year following the year to which it relates. For the avoidance of doubt, if the Executive was employed by the Company from January 1 through December 31 of a performance year, the Executive has met the employment criterion for Target Bonus eligibility for that year and need not be employed by the Company thereafter, including at the time the Target Bonus, if any, is determined or paid for that performance year, in order to receive payment of any Target Bonus amount the Executive would otherwise be entitled to receive.
Annual Incentive Bonus. In addition to the Executive’s base salary as provided above, the Executive will be eligible for an annual cash incentive bonus for each calendar year of the Employment Period. The bonus for which the Executive is eligible for each such year will be based on a target percentage of the then current base salary, which target percentage shall be at least 50% of Executive’s then current base salary. The determination of the amount of the annual cash incentive bonus will be based upon the satisfaction of performance criteria established by the Compensation Committee in its discretion and upon consultation with the Executive at the beginning of each year and subject to the approval of the Board. Depending on the Executives performance against the performance criteria, the actual annual cash incentive bonus may be more, equal to or less than the target. Such performance criteria will include corporate performance goals consistent with the Company’s business plan for the year, as well as individual objectives for the Executive’s performance that may be separate from, but are consistent with, the Company’s business plan. The final determinations as to the actual corporate and individual performance against the pre-established goals and objectives, and the amount of the bonus payout in relationship to such performance, will be made by the Compensation Committee in its sole discretion. To the extent the Company awards the Executive a cash bonus, the bonus, if payable, shall be calculated and paid no later than two and a half months following the later of the close of the calendar or Company fiscal year to which such bonus relates.
Annual Incentive Bonus. During the Employment Term, Executive will be eligible, at the discretion of the Board (or a committee thereof), to earn an annual incentive bonus (an “Annual Bonus”). The Board (or a committee thereof), in its sole discretion, will determine Executive’s target bonus opportunity and the criteria for earning such bonus, as well as Executive’s achievement of such criteria, and the amount of the Annual Bonus earned and payable to Executive for such year. Any Annual Bonus that is earned and becomes payable pursuant to this Section 3(b) will be paid no later than March 15 of the calendar year immediately following the calendar year to which the Annual Bonus relates, but the Executive must remain continuously employed by the Company through the payment date in order to earn the Annual Bonus. The determinations of the Board (or a committee thereof) with respect to the Annual Bonus will be final and binding.
Annual Incentive Bonus. The Executive shall be entitled to receive an annual cash incentive bonus for each fiscal year during the Term of this Agreement consistent with a bonus policy adopted by the Compensation Committee (the "Bonus Policy"). For the period beginning on the Effective Date and ending on December 31, 2002, if the Executive or the Company, as the case may be, satisfies the performance criteria contained in such Bonus Policy for the 2002 fiscal year, the Executive shall receive an annual incentive bonus in an amount equal to two (2) times his Base Salary, with his Base Salary for this purpose being pro rated and adjusted to reflect the short fiscal year. Beginning January 1, 2003, and for each year thereafter, if Executive or the Company, as the case may be, satisfies the performance criteria contained in such Bonus Policy for a fiscal year, he shall receive an annual incentive bonus of up to two (2) times his Base Salary, as in effect for such fiscal year, as recommended by the Chief Executive Officer and subject to approval by the Compensation Committee. If Executive or the Company, as the case may be, fails to satisfy the performance criteria contained in such Bonus Policy for a fiscal year, he may be eligible to receive an incentive bonus for such fiscal year, in such amount as is recommended by the Chief Executive Officer and subject to approval by the Compensation Committee. Beginning January 1, 2004, the Bonus Policy shall contain both individual and
Annual Incentive Bonus. Executive shall be given the opportunity to earn an annual discretionary incentive bonus in accordance with the annual bonus plan generally applicable to the most senior executive officers of the Company, as the same may be in effect from time to time (the “Annual Plan”). Executive’s target annual incentive bonus opportunity under the Annual Plan during each full fiscal year during the term hereof shall be two hundred percent (200%) of Executive’s Base Salary as expected to be in effect at the end of such fiscal year. The actual amount payable to Executive as an annual bonus under the Annual Plan shall be dependent upon the achievement of performance objectives established in accordance with the Annual Plan by the Board of Directors of the Company or the committee of the Board of Directors of the Company responsible for administering such Annual Plan, which, as to Company performance objectives, shall be substantially the same as the objectives established under the Annual Plan for the other most senior executive officers of the Company, though individual performance criteria may differ to reflect differences in responsibilities. Any bonus payable pursuant to this Paragraph 3(b) shall be paid at the same time as annual bonuses are generally payable to the most senior executive officers of the Company in accordance with the provisions of the Annual Plan, subject to Executive’s continued employment with the Company through the date on which such bonuses are paid.