Annual Incentive Payment. The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.
Annual Incentive Payment. With respect to each fiscal year or portion of a fiscal year of the Company ending during the Employment Period, the Executive shall be eligible to receive an annual cash incentive payment (the “Incentive Payment”) as determined by the Compensation Committee in its discretion and, if applicable, in accordance with the terms of any applicable incentive plan of the Company and subject to the achievement of any performance goals established by the Compensation Committee with respect to such fiscal year. The Executive’s target Incentive Payment opportunity under the incentive plan applicable to the Executive for each fiscal year during the Employment Period shall be determined by the Compensation Committee in its discretion with respect to each such fiscal year of the Company (the “Target Incentive Payment”). Any earned Incentive Payment shall be paid to the Executive pursuant to the terms of the applicable incentive plan; provided, however, that any such Incentive Payment for a fiscal year shall be paid to the Executive no later than the 15th day of the third month following the close of such fiscal year, unless the Company or the Executive shall elect to defer the receipt of such Incentive Payment pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).
Annual Incentive Payment. The Executive has a target bonus opportunity equal to 100% of base salary under MONY’s Annual Incentive Compensation Plan (the “AICP”) for the 2003 bonus year. The Executive hereby waives the right to any payment for 2003 under the terms of the AICP. In lieu of such payment, subject to Section 5 hereof, the Executive shall receive a cash payment of $500,000.00 (less applicable tax withholdings) upon the Effective Time, provided, however, that, if the Merger does not close before March 2004, the Company, in its sole discretion, may pay any earned amounts under the AICP for the 2003 bonus year. In the event that, pursuant to the proviso in the second sentence of this paragraph 3, MONY elects, in its sole discretion, to make any payment in respect of the AICP for the 2003 bonus year prior to the Effective Time, the amount of such cash payment upon the Effective Time shall be correspondingly reduced.
Annual Incentive Payment. Each year during this Agreement, the Executive shall be eligible to receive an annual incentive payment (the "Annual Incentive Payment). The amount actually awarded to the Executive will be determined by the Company's or the Bank's Compensation Committee. Any applicable bonus shall be paid by February 28 of each year (with the first bonus payable by February 28, 2000, relating to the 1999 year).
Annual Incentive Payment. Beginning January 1, 2017 and with respect to each fiscal year or portion of a fiscal year of the Bank ending during the term hereof, the Executive shall be eligible to receive an annual incentive payment (the “Incentive Payment”) in accordance with the terms of any applicable incentive plan of the Bank (an “Incentive Plan”) and subject to the achievement of any performance goals established by the Board (or a committee thereof) and agreed to by Executive with respect to such fiscal year, which shall be attached hereto as Confidential Schedule A and made a part hereof. The Executive’s target Incentive Payment opportunity (the “Target Incentive Payment”) under the Incentive Plan applicable to the Executive for each fiscal year during the term hereof shall be 75% of his Base Salary for that year. Such target incentive percentage may be increased but not decreased in the sole discretion of the Bank. Any earned Incentive Payment shall be paid to the Executive pursuant to the terms of the applicable incentive plan; provided, however, that any such Incentive Payment for a fiscal year shall be paid to the Executive no later than the 15th day of the second month following the close of such fiscal year, unless the Bank or Executive shall elect to defer the receipt of such Incentive Payment pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”). If Executive’s employment is terminated by the Bank for Cause or Executive voluntarily resigns without Good Reason prior to such date, Executive will forfeit his right to receive any payments under this Section 4(b).
Annual Incentive Payment. Employee shall be eligible to participate in an annual incentive plan approved by the Board of Directors of Parent.
Annual Incentive Payment. With respect to each fiscal year or portion of a fiscal year of Cadence ending during the Employment Period, the Executive shall be eligible to receive an annual incentive payment (the “Incentive Payment”), with the actual amount of any such Incentive Payment to be determined by the Compensation Committee. The Executive’s target Incentive Payment opportunity for each fiscal year ending during the Employment Period shall be 100% of the Annual Base Salary (the “Target Incentive Payment”). Any earned Incentive Payment in respect of a fiscal year shall be paid to the Executive no later than the 15th calendar day of the third month following the close of such fiscal year, unless Cadence or the Executive shall elect to defer the receipt of such Incentive Payment pursuant to an arrangement that meets the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).
Annual Incentive Payment. During the term of this Agreement, provided that Executive is a full-time employee of the Employer on the final day of the Employer’s fiscal year, in addition to other compensation to be paid under this Section 5, the Executive shall receive a performance-based annual incentive payment for the then completed fiscal year of the Employer (the “Annual Incentive Payment”), which shall be a percentage of Base Salary. The amount actually awarded and paid to the Executive each fiscal year will be determined by the Board and will be based on specific performance criteria to be identified in writing in advance to Executive under a separate communication. The total amount of the Annual Incentive Bonus to be paid hereunder shall be calculated by the Employer and paid to the Executive within 60 days of the end of the Employer’s fiscal year to which the Annual Incentive Bonus applies. The Employer’s calculation of the Annual Incentive Bonus amount shall be conclusive and binding absent fraud or manifest and material error.
Annual Incentive Payment. The Company shall establish a performance-based, target incentive bonus under the terms of the Company’s incentive bonus compensation plan pursuant to which Executive may receive, based on completion of objectives no less than 40% of Executive’s Salary (or such higher amount as the Chief Executive Officer, Board or its Compensation Committee may approve) (“Target Incentive Payment”), less required withholding and authorized deductions. The Chief Executive Officer or the Board or its Compensation Committee and Executive shall establish the mutually acceptable performance objectives and related payout ratios no later than May 31 of each fiscal year. The Chief Executive Officer, the Board or the Board’s Compensation Committee shall reasonably determine the extent to which the Target Incentive Payment has been earned and shall ensure that the Target Incentive Payment complies with Sound Incentive Compensation Planning Guidelines and other restrictions applicable to financial institutions.
Annual Incentive Payment. In addition to other compensation to be paid under this Section 4, each year, during the term of this Agreement, the Employee shall be eligible to receive an annual incentive payment (the “Annual Incentive Payment”), which shall be a percent of Base Salary. The amount actually awarded and paid to the Employee each year will be determined by the Board and will be based on specific performance criteria to be identified under a separate communication. Any payments made under this section shall be paid as soon as is practicable following the close of the Company’s financial statements for the preceding year but no later than March 15 following the calendar year in which the Annual Incentive Payment is earned. For terminations of this Agreement prior to the end of the year, other than terminations pursuant to subsections (b), (c), (d) and (e) of Section 5 below, the Annual Incentive Payment shall be prorated and the Employee shall earn that portion of the Annual Incentive Payment allocable to the portion of the year of his employment.
