Common use of Base Bonus Clause in Contracts

Base Bonus. For so long as the Employee is the C.F.O. of the ---------- Company, the Company shall pay the Employee a bonus with respect to each fiscal year or portion thereof during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 20% of so much of his Base Salary as was paid with respect to such year. (ii) The Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 30% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 40% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Sources: Employment Agreement (Aurora Foods Inc)

Base Bonus. For so long as the Employee is the C.F.O. Vice-President of Sales of the ---------- Company, the Company shall pay the Employee a bonus with respect to each fiscal year or portion thereof during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 20% of so much of his Base Salary as was paid with respect to such year. (ii) The If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 30% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 40% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Sources: Employment Agreement (Aurora Foods Inc)

Base Bonus. For so long as the Employee is the C.F.O. of the ---------- Company, the The Company shall pay the Employee a bonus with respect to each fiscal year (or a pro rata bonus for any portion thereof thereof) during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 2025% of so much of his Base Salary as was paid with respect to such year. (ii) The If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 3037.5% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 4050% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Sources: Employment Agreement (Aurora Foods Inc /Md/)

Base Bonus. For so long as the Employee is the C.F.O. of the ---------- Company, the Company shall pay the Employee a bonus with respect to each fiscal year or portion thereof during the Term in accordance with the following provisions: (i) If the Financial Results of the Company for a fiscal year during the Term are at least 90% but less than 95% of the EBITDA Target for such year, Employee shall be paid an amount equal to 20% of so much of his Base Salary as was paid with respect to such year. (ii) The If the Financial Results of the Company for a fiscal year during the Term are at least 95% but less than 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 30% of so much of his Base Salary as was paid with respect to such year. (iii) If the Financial Results of the Company for a fiscal year equal or exceed 100% of the EBITDA Target for such year, Employee shall be paid an amount equal to 40% of so much of his Base Salary as was paid with respect to such year.

Appears in 1 contract

Sources: Employment Agreement (Aurora Foods Inc)