Bonus and Benefits. The Employee is eligible to receive an annual target bonus of up to 45% of his base compensation in compliance with the corporate wide bonus plan. The bonus is not guaranteed and may be zero if Employee and the Company do not achieve the performance goals for the year. The amount of bonus that you earn for any given year and the payment schedule will be in compliance with the then current plan. In the event of your termination, bonus payout, if any, shall be in accordance with the then current plan.
Bonus and Benefits. The Employee shall be entitled to participate in any bonus programs established by the Board or the Compensation Committee for executive officers generally. The Employee's annual target bonus (the "TARGET BONUS") shall be equal to 40% of the Salary for 2002, and thereafter shall be equal to 60% of the Salary. All bonus programs, as well as the goals for achieving the Target Bonus, are at the discretion of the Board or the Compensation Committee. For 2002, in addition to any Target Bonus for 2002, the Employee shall be entitled to a $150,000 guaranteed bonus (the "GUARANTEED 2002 BONUS PAYMENTS"), that shall be paid to the Employee as follows: $75,000 on August 15, 2002, and $75,000 on February 1, 2003(or on the date that 2002 bonus awards are paid to other senior executives, if earlier than February 1, 2003); provided that the Employee is employed by the Company on each such payment date, except as provided below. The Target Bonus will be based upon the achievement of Company performance milestones to be determined between the Employee and the Company promptly, but in any event not later than March 31, 2002 for 2002, and thereafter not later than one month after the commencement of any fiscal year of the Company. Benefits and perquisites under this agreement will, at a minimum, be consistent with other Company Executive Vice Presidents. Vacation shall be in accordance with Company policy, but not less than 4 weeks per year.
Bonus and Benefits. The Employee shall be entitled to participate in any bonus programs established by the Board or the Compensation Committee for employees generally. The Employee’s annual target bonus shall be equal to 30% of the Employee’s Salary for such year (the “Target Bonus”). All bonus programs, as well as the goals for achieving the Target Bonus, are at the discretion of the Board of Directors or the Compensation Committee. The Company shall pay Employee a signing bonus of $2,500 as soon as practicable after the execution of this Agreement. Benefits and perquisites under this agreement will, at a minimum, be consistent with other Company Vice Presidents. Vacation shall be in accordance with Company policy, but not less than 4 weeks per year.
Bonus and Benefits. In addition to the above-listed compensation and expense reimbursements, Employee shall be entitled to:
Bonus and Benefits. The Employee shall be entitled to participate in any bonus programs established by the Board or the Compensation Committee for officers generally. All bonus programs are at the discretion of the Board or the Compensation Committee. Benefits and perquisites under this agreement will, at a minimum, be consistent with other Company Vice Presidents. Vacation shall be in accordance with Company policy, but not less than 4 weeks per year.
Bonus and Benefits a. An eligible retiree will be entitled to a paid bonus on or before July 31st of the school year following the date of retirement. The paid bonus will be the difference between what the bargaining unit member would have earned had he/she worked for the remainder of the current school year in which the bargaining unit member retired and the amount they would earn at Class 5, Step 8.
Bonus and Benefits. 2.2 The Company will consider, but will be under no obligation, to provide the Consultant with a bonus, which is entirely discretionary.
Bonus and Benefits. During each year of the Employment Term, the Employee shall be entitled to participate in any bonus programs established by the Board or the Compensation Committee for executive officers generally. The Employee's target bonus shall be equal to 50% of the Salary (the "TARGET BONUS"). Except as provided below, all bonus programs are established at the discretion of the Board or the Board's Compensation Committee. The performance milestones will be determined between the Employee and the Company promptly, but in any event not later than 90 days after the commencement of any fiscal year of the Company. Any bonus earned will be paid no later than March 31st of the year following the calendar year to which the bonus relates, provided that the Employee is employed by the Company on the payment date except as provided below. For 2002, $100,000 of the Employee's Target Bonus award will be guaranteed (the "GUARANTEED 2002 BONUS PAYMENTS"), and shall be paid to the Employee as follows: $25,000 on each of June 1, 2002, September 1, 2002, December 1, 2002 and March 1, 2003 (or on the date that 2002 bonus awards are paid to other senior executives, if earlier than March 1, 2003); provided that the Employee is employed by the Company on such payment date except as provided below. For 2002, the remainder of the Employee's Target Bonus will based upon the achievement of Company performance milestones to be determined between the Employee and the Company promptly, but in any event not later than 90 days after the Effective Date. In addition to any annual bonus, the Employee shall be entitled to a signing bonus payment of $125,000 on the 3 month anniversary of the Effective Date if the Employee is employed by the Company on that date (the "SIGNING BONUS") except as provided below. During the Employment Term, the Employee shall be entitled to participate in and receive benefits under all employee and retirement benefit plans and programs maintained by the Company for employee or executives generally. Notwithstanding the foregoing, the Company shall at all times during the Employment Term maintain for the Employee (i) life insurance coverage in an amount not less than two multiplied by the Salary (the Employee recognizes that the cost of the coverage, in excess of that normally provided to executives generally as a percentage of their salary, shall be imputed as income to the Employee for Federal and state income tax purposes), and (ii) short and long term disability coverage ...
Bonus and Benefits. Upon termination of this Agreement for any reason or for no reason, Executive shall not be eligible to receive any Fringe Benefit or Bonus, except to the extent that, on or before the termination date, Executive's right to receive a benefit has vested in accordance with the express terms and conditions of any benefit plan or program in which Executive participates, or by the express terms and conditions of this Agreement.
Bonus and Benefits
