Bonus for Management Team Performance Sample Clauses

Bonus for Management Team Performance. Until changed by written agreement of Company and Employee, Employee’s Management Performance Bonus Compensation shall be determined based upon achievement of non-Adjusted EBITDA based performance objectives by the following members of management: D. Xxxxxx Xxxxxx, Xxxxx X. Xxxxxx, Xxxxxxx X. Xxxxxxx and Xxxxxxx X. Xxxxx (“Management Team”). For each non-Adjusted EBITDA based performance objective for each member of the Management Team, Employee will be awarded points as follows:
Sample 1
AutoNDA by SimpleDocs
Bonus for Management Team Performance. Until changed by written agreement of Company and Employee, Employee’s Management Performance Bonus Compensation shall be determined based upon achievement of non-Adjusted EBITDA based performance objectives by the following members of management: D. Xxxxxx Xxxxxx, Xxxxx X. Xxxxxx, Xxxxxxx X. Xxxxxxx and Xxxxxxx X. Xxxxx (“Management Team”). For each non-Adjusted EBITDA based performance objective for each member of the Management Team, Employee will be awarded points as follows: Points Awarded Performance Level Achieved One point Threshold Performance Two points Qualifying Performance Three Points Target Performance Four Points Step-Change Performance Employee will be awarded only the points designated for the performance level achieved; for example, achievement of Target Performance for one objective by one of the members of the Management Team will result in an award of three points (and not one point plus two points plus three points). Each of the members of the Management Team will have three non-Adjusted EBITDA based performance objectives, so that the maximum number of points that Employee may earn for a fiscal year is 48 points. Until changed by written agreement of Company and Employee, Employee’s bonus compensation for achievement of Management Team performance objectives shall be earned based upon the range that the amount of points awarded to Employee for such fiscal year, as follows: Points Awarded for Fiscal Year Percentage of Team Target Bonus Payout Earned 0 – 16 points 0% of Team Target Bonus Payout 17 – 24 points 50% to 71.875% of Team Target Bonus Payout 25 – 32 points 75% to 96.875% of Team Target Bonus Payout 33 – 42 points 100% to 118.0% of Team Target Bonus Payout 43 – 48 points 120% of Team Target Bonus Payout The amount of bonus earned shall be determined based upon the achievement of different point levels within a specific range, and the amount of such bonus shall be determined by interpolation on a straight-line basis within the applicable range. For purposes of illustration only, the following are examples of computation of Management Performance Bonus Compensation earned based upon Management Team performance: (i) if 14 points are awarded to Employee for a fiscal year, no bonus will be earned for Management Team performance, (ii) if 27 points are awarded to Employee for a fiscal year, the bonus earned for Management Team performance will be 81.25% of the Team Target Bonus Payout (or .8125 x 10% of Base Salary, or 8.125% of Bas...
Sample 1

Related to Bonus for Management Team Performance

  • Performance Management 17.1 The Contractor will appoint a suitable Account Manager to liaise with the Authority’s Strategic Contract Manager. Any/all changes to the terms and conditions of the Agreement will be agreed in writing between the Authority’s Strategic Contract Manager and the Contractor’s appointed representative.

  • Performance Reviews The Employee will be provided with a written performance appraisal at least once per year and said appraisal will be reviewed at which time all aspects of the assessment can be fully discussed.

  • Performance Review Where a performance review of an employee’s performance is carried out, the employee shall be given sufficient opportunity after the interview to read and review the performance review. Provision shall be made on the performance review form for an employee to sign it. The form shall provide for the employee’s signature in two (2) places, one (1) indicating that the employee has read and accepts the performance review, and the other indicating that the employee disagrees with the performance review. The employee shall sign in only one (1) of the places provided. No employee may initiate a grievance regarding the contents of a performance review unless the signature indicates disagreement. An employee shall, upon request, receive a copy of this performance review at the time of signing. An employee’s performance review shall not be changed after an employee has signed it, without the knowledge of the employee, and any such changes shall be subject to the grievance procedure of this Agreement. The employee may respond, in writing, to the performance review. Such response will be attached to the performance review.

  • Performance Monitoring A. Performance Monitoring of Subrecipient by County, State of California and/or HUD shall consist of requested and/or required written reporting, as well as onsite monitoring by County, State of California or HUD representatives.

  • Performance and Salary Review Company will periodically review Executive’s performance on no less than an annual basis. Adjustments to salary or other compensation, if any, will be made by Company in its sole and absolute discretion.

  • Management Team Subject to any approval or consulting rights of the --------------- Joint Operations Committee, Manager shall engage or designate one or more individuals experienced in dental group management and direction, including, but not limited to, an administrator, who will be responsible for the overall administration of the Practice including day-to-day operations and strategic development activities.

  • SCHEDULE FOR PERFORMANCE REVIEWS 8.1 The performance of each Employee in relation to his/her performance agreement shall be reviewed on the following dates with the understanding that reviews in the first and third quarter may be verbal if performance is satisfactory:

  • PERFORMANCE MANAGEMENT SYSTEM 5.1 The Employee agrees to participate in the performance management system that the Employer adopts or introduces for the Employer, management and municipal staff of the Employer.

  • Annual Performance Bonus In each calendar year of the Term of Employment, Executive shall be eligible to receive an annual incentive bonus (the “Annual Bonus”) payable in cash, pursuant to the performance criteria and targets established and administered by the Board (or a committee of directors to whom such responsibility has been delegated by the Board), with a target Annual Bonus of at least 100% of his Base Salary. The Annual Bonus payable to Executive each year shall be determined and payable as soon as practicable after year-end for such year (but no later than March 15th). The Executive’s cash bonus for the stub period of 2017 will be determined in the reasonable business judgment of the Board or another committee of directors to whom such responsibility has been delegated by the Board. To be entitled to receive any Annual Bonus, except as otherwise provided in Sections 5(c) and 5(d), Executive must remain employed through the last day of the calendar year to which the Annual Bonus relates.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

Time is Money Join Law Insider Premium to draft better contracts faster.