Annual Incentive Program Clause Samples
The Annual Incentive Program clause establishes the terms under which employees may receive additional compensation based on their performance over a one-year period. Typically, this clause outlines eligibility criteria, performance metrics, and the process for determining and distributing incentive payments, such as bonuses tied to achieving specific business goals or individual targets. Its core function is to motivate employees by linking a portion of their compensation to measurable achievements, thereby aligning employee efforts with the organization's objectives and rewarding high performance.
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Annual Incentive Program. You shall participate in an equitable manner with all other senior management employees in the annual incentive program approved by the Board or the Compensation Committee. No other compensation provided for in this Agreement shall be deemed a substitute for your right to participate in such annual incentive program.
Annual Incentive Program. Executive shall be eligible to participate in any annual incentive program maintained by the Company and its subsidiaries to the same extent as other executives of the Company and its subsidiaries and shall be eligible to receive cash incentive awards thereunder, as determined by the Board of Directors of the Company (as applicable, the “Board”) or a committee of the Board.
Annual Incentive Program. The Executive shall be entitled to participate in the Company’s Annual Incentive Program (the “Annual Incentive Program”) according to the terms of the Annual Incentive Program which Annual Incentive Program the Company may, in the Company’s discretion, change or amend from time to time.
Annual Incentive Program. 29.1 For the term of this agreement, beginning for the year 2021 (payable in 2022) employees will participate in the Vistra Broad-Based Annual Incentive Plan, subject to all terms and conditions of the plan as they may be modified from time to time in the Company’s sole discretion. Individual performance modifiers will not be used in determining payout amounts for Represented employees. No part of the plan shall be subject to grievance or arbitration under this Agreement under any circumstance, except in the limited instance in which an employee contends he or she was not paid in accordance with the terms of the plan. The target award is 6% of the employee’s annual base wage earnings.
Annual Incentive Program. The Company will establish an Annual Incentive Program ("Program"), as set forth in Attachment A, that shall substitute for and replace the Variable Wage Adjustment Program included in the Restructuring Agreement.
Annual Incentive Program. Effective as of the Start Date, Executive shall participate in the Company’s Annual Incentive Program for its fiscal 2017 (the “FY17 AIP”) with a target award equal to 60% of the Annual Base Salary earned by Executive in fiscal 2017; provided that (i) Executive’s Annual Base Salary earned in fiscal 2017 shall be calculated as if the Start Date was February 1, 2017; and (ii) payment under the FY17 AIP shall not be less than 50% of target.
Annual Incentive Program. In addition to Base Salary, for each year commencing 1998 Employee shall be eligible to receive a performance based bonus under the Company's Annual Incentive Program ("Performance Bonus") if certain pre-established performance objectives are obtained ("Performance Goals"). The Compensation Committee shall establish a range of Performance Goals by March 31 of each year. The Compensation Committee shall determine annually within 60 days after completion of the Company's year end audit whether the Performance Goals for the preceding year have been achieved. If the Performance Goals for the preceding year have been achieved, the Compensation Committee shall certify such fact to the Company, and the Company shall pay such Performance Bonus to Employee as soon as administratively feasible following such certification. The Compensation Committee shall establish a maximum Performance Bonus of 40% of Base Salary, a target Performance Bonus of 20% of Base Salary, and a threshold Performance Bonus of 10% of Base Salary which shall be paid to Employee based upon certification that the Performance Goals have been achieved. No Performance Bonus shall be paid for any year in which the threshold Performance Goal has not been achieved. No Performance Bonus may exceed $300,000. The Compensation Committee shall have the sole authority to administer and make determinations with respect to the Performance Bonus and Performance Goals.
Annual Incentive Program. During the Term of Employment and commencing with fiscal year 2023, the Executive will be eligible for a target bonus under the Company’s Annual Incentive Plan (“AIP”) equal to 150% of his annual base salary (with a maximum bonus under the AIP equal to 200% of Executive’s target bonus). The amount of the bonus will be based on the achievement of metrics determined in the sole discretion of the Board (or an authorized committee thereof) after consultation with the Executive and will be measured using Company and/or individual performance factors. It is understood that the Company determines eligibility for awards and the terms of awards on an annual basis, and that information about awards will be communicated to the Executive in accordance with Company practice. AIP bonuses will be paid no later than March 15th of the following fiscal year.
Annual Incentive Program. Full-time and Part-time bargaining unit case managers will participate in the discretionary annual incentive program in accordance with the incentive plan rules and process at the time of distribution.
Annual Incentive Program. The Executive shall be a participant in the Company's annual incentive program as in effect from time to time (the "Annual Incentive Program") at a level commensurate with his position, and shall be entitled to receive such amounts (each, a "Bonus") as may be authorized, declared and paid by the Company pursuant to the terms of such program and the performance goals established by the Compensation Committee of the Board. For each fiscal year, the target amount for the Executive's Bonus under the Annual Incentive Plan shall be at least 100% of the Executive's Annual Base Salary for such fiscal year.