Bonus for any Fiscal Year Sample Clauses

Bonus for any Fiscal Year. The Executive shall receive bonus ------------------------- compensation based on the relationship between the Company's actual earnings before interest, taxes, depreciation and amortization and non-cash compensation expense ("EBITDA") for each fiscal year starting with the fiscal year ending December 31, 1999 (determined based on the Company's audited financial statements for such fiscal year) and the EBITDA set for such year in the Company "Adjusted Business Plan" (as defined below) as follows: Actual EBITDA Bonus as a Percentage (as a Percentage of Plan of Base Salary ------------------- ------------------- Less than 80% No bonus 100% 50% of Base Salary 120% or More 100% of Base Salary If actual EBITDA as a percentage of the Company's Adjusted Business Plan falls between 80% and 120%, the amount of bonus shall be pro rated on a straight-line basis. In no case shall bonus payable under this Section 3(b) exceed 100% of Base Salary unless agreed to by the Board of Directors in its absolute discretion. Nothing herein shall be construed to prohibit or restrict the Company from paying additional compensation to Executive if the Board of Directors so determines in its absolute discretion. The "Adjusted Business Plan" shall be the Company's business plan for the fiscal year in question as approved by the Board of Directors with the consent of Executive, appropriately adjusted for acquisitions or dispositions during the year as determined by the Board of Directors in good faith. If the Board and the Executive do not adopt a mutually satisfactory business plan prior to the beginning of any fiscal year, the business plan for purposes of this Section 3(b) shall be the last business plan submitted by the Company to its lenders, subject to adjustment as provided above for acquisitions and dispositions occurring after the date thereof. Any bonus payable under this Section 3(b) shall be paid not later than 60 days after the applicable fiscal year end.
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Bonus for any Fiscal Year. The Executive shall be eligible to ------------------------- receive an annual bonus as determined by the Chief Executive Officer of the Company in accordance with the Company's bonus plan, if any, that may be in effect at such time; provided that any bonus payable under this Section 3(c) -------- upon a termination of this Agreement by the Company without Cause (as defined below) or by the Executive for Good Reason (as defined below) will be a Pro Rata Bonus Amount (as defined below). Any bonus payable will be paid after the end of the applicable fiscal year at the same time as other bonuses to senior management are payable as determined by the Chief Executive Officer.
Sample 1Sample 2
Bonus for any Fiscal Year. Executive shall receive bonus ------------------------- compensation based on the relationship between the Company's actual earnings before interest, taxes, depreciation and amortization and non-cash compensation expense ("EBITDA") for each fiscal year starting with the fiscal year ending December 31, 2001 (determined based on the Company's audited financial statements for such fiscal year) and the EBITDA set for such year in the Company "Adjusted Business Plan" (as defined below) as follows: Actual EBITDA Bonus as a Percentage as a Percentage of Plan of Base Salary ----------------------- -------------- Less than 80% No bonus 100% 50% of Base Salary 120% or more 100% of Base Salary If actual EBITDA as a percentage of the Adjusted Business Plan falls between 80% and 120%, the amount of bonus shall be pro rated on a straight-line basis. In no case shall bonus payable under this Section 3(b) exceed 100% of Base Salary unless agreed to by the Board of Directors in its absolute discretion. The "Adjusted Business Plan" shall be the Company's business plan for the fiscal year in question as approved by the Board of Directors, appropriately adjusted for acquisitions or dispositions during the year as determined by the Board of Directors. For greater certainty, the business plan for 2001 (off which any adjustments for acquisitions and dispositions shall be made) shall be the business plan for such year approved by the Board in December 2000. Any bonus payable under this Section 3(b) shall be paid not later than 90 days after the applicable fiscal year end.
Sample 1
Bonus for any Fiscal Year. Executive shall receive bonus compensation based on the relationship between the Company’s actual earnings before interest, taxes, depreciation and amortization and non-cash compensation expense (“EBITDA”) for each fiscal year starting with the fiscal year ending December 31, 2005 (determined using the same formula and approach as is used in determining EBITDA in the Company’s “Adjusted Business Plan and Annual Budget”, as defined below) and the EBITDA set for such year in the Company “Adjusted Business Plan and Annual Budget” as follows: Actual EBITDA as a Percentage of Plan Bonus as a Percentage Base Salary Less than 90% No bonus 100% 100% of Base Salary 110% or more 150% of Base Salary If actual EBITDA as a percentage of the Adjusted Business Plan and Annual Budget falls between 90% and 100%, the amount of bonus shall be pro rated on a straight-line basis. If actual EBITDA as a percentage of the Adjusted Business Plan and Annual Budget falls between 100% and 110%, the amount of bonus shall be pro rated on a five to one (5:1) basis such that each percentage point by which EBITDA exceeds the Adjusted Business Plan and Annual Budget shall result in a bonus of an additional 5% of the Executive’s Base Salary. In no case shall bonus payable under this Section 3(b) exceed 150% of Base Salary unless agreed to by the Board of Directors in its absolute discretion.
Sample 1

Related to Bonus for any Fiscal Year

  • Fiscal Year End Change, or permit any Subsidiary of any Borrower to change, its fiscal year end.

  • Fiscal Year The fiscal year of the Partnership shall be the calendar year.

  • Changes in Fiscal Year Make any change in its fiscal year; provided, however, that the Borrower may, upon written notice to the Administrative Agent, change its fiscal year to any other fiscal year reasonably acceptable to the Administrative Agent, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

  • End of Fiscal Years; Fiscal Quarters The Borrower will cause (i) each of its fiscal years to end on December 31 of each year and (ii) its fiscal quarters to end on March 31, June 30, September 30 and December 31, respectively, of each year.

  • End of Fiscal Years The Parent and the Borrower will maintain their fiscal year ends as in effect on the Effective Date.

  • Annual Accounting Period The annual accounting period of the Company shall be its taxable year. The Company’s taxable year shall be selected by the Member, subject to the requirements and limitations of the Code.

  • Fiscal Year; Accounting The Company's fiscal year shall be the calendar year with an ending month of December.

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Vacation Earnings for Partial Years (a) (1) During the first partial year of service a new employee will earn vacation at the rate of one and one-quarter (1¼) days for each month for which he/she earns ten (10) days' pay.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

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