Bonus Arrangement. (A) The Executive will participate in the Company bonus scheme, the specific terms of which will be communicated individually. Achievement under this scheme will depend upon and be related to (i) the Executive's performance against pre-determined and agreed objectives, and (ii) the financial performance of the Business. The Executive acknowledges that he has no right to receive a bonus and will not acquire such a right merely by virtue of having received one or more discretionary bonus payments during the course of his employment.
Bonus Arrangement. 8.1 As long as this Agreement remains in effect, an annuity bonus arrangement, calculated as specified in APPENDIX D, will be payable by American National to LMG, if earned.
Bonus Arrangement. You will be eligible for a discretionary bonus. The amount of your discretionary bonus, if any, will be determined in the sole discretion of the Company, with an initial target of 1% of the Company’s annual net income, as such net income is determined on a stand-alone basis within the RLI consolidated group, and in accordance with applicable accounting standards before interest, taxes, depreciation and amortization (“EBITDA”), if all individual and Company performance targets, as may from time-to-time, be achieved. The bonus will be based upon management's subjective view of a combination of (i) your individual contribution to the Company and, (ii) the overall performance of the Company. During the period from the Effective Date through the quarter ended June 30, 2016, the Company will pay a discretionary bonus to you of not less than Cdn $13,750 per quarter.
Bonus Arrangement. (a) In order to reward those key employees of the Company and its applicable Subsidiaries listed in Section 6.13(a) of the Disclosure Letter for their past work with the Company and to further incentivize such employees to remain employed with the Company or its applicable Subsidiaries at least through the end of the Q4 Period, subject to each such employee executing and delivering a Bonus Grant Agreement (as defined below) (each such employee who executes and delivers a Bonus Grant Agreement being a “Bonus Grantee”), the Bonus Grantees shall be entitled to receive in the aggregate (i) up to fifteen percent (15%) of the Parent Common Share Consideration issued under the Tranche One Payment Amount, the Tranche Two Payment Amount (including any adjustment thereto under Section 3.2(d)(v)), the Tranche Three Payment Amount (including any adjustment thereto under Section 3.2(e)(v)), and the Tranche Four Payment Amount (such Parent Common Shares, as issued pursuant to the Bonus Grant Agreement, being the “Bonus Shares”), and (ii) up to fifteen percent (15%) of the Earn-Out Payment (such portion of the Earn-out Payment, as adjusted in accordance with this Agreement, being the “Bonus Payments”, and such overall bonus arrangement being the “Bonus Arrangement”). Each Bonus Grantee’s pro rata share of the Bonus Shares and Bonus Payments is as set forth in Section 6.13(a) of the Disclosure Letter.
Bonus Arrangement. No later than the Effective Time, Parent shall (or shall cause its applicable Subsidiary to) adopt for the benefit of the Key Employees, the compensation and bonus arrangements as described on Schedule 6.8(a) hereto.
Bonus Arrangement. In addition to annual compensation provided for in Section 3 hereof, the Company may award to the Executive performance bonuses based upon the performance of the Company and the Executive, as determined from time to time by the Board of Directors of the Company, but nothing hteherin shall be interpreted as obligating the Company to pay a bonus to the Executive in any year, and the decision to pay or not to pay a bonus for any year shall be discretionary with the Company.
Bonus Arrangement. The bonus shall be calculated based upon the Company's pre-tax profit before management fees and bonuses to Executive. A minimum pre-tax profit target of Ten Million ($10,000,000) must b e obtained for the year ended December 31, 2000 in order for a bonus to be earned. The minimum pre-tax profit target will increase ten percent (10%) per year for the life of the contract. By way of example, the minimum pre-tax profit target for 2001 must be $11,000,000 for a bonus to be earned. The bonus payable to Executive shall be seventy-five (75%) of base salary. Notwithstanding with the preceding paragraph, during the 36-month term of this Agreement, a bonus of not less than $150,000 shall be paid to Executive as a guaranteed amount. If the bonus paid under the first paragraph of this exhibit C do not reach $150,000, the remaining amount will be paid to Executive or used to offset any advances made to him by the company. To the extent such bonus payments have not been sufficient to offset advances made to the executive prior to the date of signing of this Agreement, will be considered discharged and paid in full without tax consequence to the Executive (Thus, if any additional amounts or "gross up" payments must be made to offset taxes, the Company shall pay the amount necessary to the Executive prior to the tax filing due date of the Executive.)
Bonus Arrangement. Effective as of February 2, 2012, provided that you remain employed through the payment date of any bonus described in this paragraph 2, to the extent that any distribution (including, but not limited to, through cash dividends, share repurchases or other consideration received by stockholders in connection with the sale of MRV) is made to MRV stockholders (each, a “Stockholder Distribution” and collectively, “Stockholder Distributions”), you shall be eligible to receive a bonus payment equal to (a) the sum of (i) 160% of your annual rate of base salary times the per-share Stockholder Distributions to the extent less than or equal to $1.15, plus (ii) 480% of your annual rate of base salary times the per-share Stockholder Distributions, if any, in excess of $1.15, divided by (b) $1.00. Any bonus amount payable in accordance with the preceding sentence shall be payable as soon as practicable, but in no event more than ten (10) business days after the date that any Stockholder Distribution is paid to MRV’s stockholders. Notwithstanding the foregoing, no bonus shall be paid at the time of (or within the 10 day period following) a Stockholder Distribution that is paid to MRV stockholders prior to March 31, 2012. Any Stockholder Distribution paid prior to March 31, 2012 shall be cumulated together with any subsequent Stockholder Distributions made in connection with, or at the time of, the sale of the equity or substantially all of the assets of MRV to determine the total bonus due in accordance with the above formula. In the event your employment is terminated by the Company without Cause, you shall be entitled to receive a bonus in accordance with this paragraph 2 based on the Stockholder Distributions through the date of termination (including receiving any bonus for a Stockholder Distribution paid prior to March 31, 2012), plus the net proceeds per share of any sale of all or a portion of MRV that occurs from the date of this Agreement but prior to the date of termination minus any bonuses previously received in accordance with this paragraph 2 that related to such net proceeds. Annex A, which is attached hereto, provides an illustration of the calculation of the bonuses described above and is provided solely for illustrative purposes. Except as otherwise provided in this paragraph 2, you shall not be entitled to receive any other short- or long-term incentive or bonus award or payment for services performed for MRV during 2012 and thereafter.
Bonus Arrangement. You will be entitled to commission calculated by reference to the compensation plan attached at Schedule 1 to this agreement. The Company reserves in its absolute discretion the right to terminate or amend any commission arrangements applicable to you without notifying you. 10 CAR ALLOWANCE The Company will provide you with an annual car allowance of £ANNUAL AMOUNT to be paid in equal monthly instalments (less tax and National Insurance) with your salary. This allowance shall be deemed to include all costs of road fund licence, insurance premiums and running costs of the car, including fuel, oil, maintenance and repairs. For the avoidance of doubt, the car allowance is not included in your basic pay and will not count towards other terms and conditions of employment which are related to your basic pay.
