Cash Incentive Plan. The Employee shall be eligible to receive an annual bonus pursuant to MIIX Group's Cash Incentive Plan, or similar plans which may be in effect from time to time, at the discretion of the Board of Directors of MIIX Group, based on the Company's and the Employee's achievement of goals and objectives established by the Board on an annual basis. The Board shall use its reasonable judgment in determining whether such goals and objectives have been met and the amount, if any, of the bonus to be paid to the Employee. It is anticipated that any bonus will be paid on or before March 31 of the succeeding year.
Cash Incentive Plan. The Executive shall participate in the same Cash Incentive Plan as the Company makes available to other executive employees of the Company which provides for certain annual cash incentives based on Company and individual performance criteria as determined by the Board or Compensation Committee from time to time. Any such cash incentive shall be paid at such times and in such amounts to be established by the Board or Compensation Committee from time to time. Beginning with calendar year 2024 and continuing throughout the Term of Employment, the annual target cash incentive will be set at 65% of the Base Salary then in effect (the “Target Annual Incentive Amount”), with the ultimate potential annual cash incentive earned ranging from a threshold amount of 30% of the Base Salary then in effect and a maximum amount of 95% of the Base Salary then in effect, with pro rata amounts earned between threshold and maximum calculated on a straight line basis. Target incentives do not constitute a promise of payment. Executive’s actual cash incentive payout, if any, will depend on Company financial performance and the Board’s or Compensation Committee’s assessment of the performance criteria set by the Board or Compensation Committee as part of the Cash Incentive Plan.
Cash Incentive Plan. The Executive shall participate in the same cash incentive plan as the Company makes available to other executive employees of the Company which provides for certain annual cash incentives based on Company and individual performance criteria as determined by the Board or Compensation Committee of the Board (the “Compensation Committee”) from time to time. Any such cash incentive shall be paid at such times and in such amounts to be established by the Board or Compensation Committee from time to time. Beginning with calendar year 2023 and continuing throughout the Employment Term, the annual target cash incentive will be set at $1,000,000, with the ultimate potential annual cash incentive earned ranging from a threshold amount of $500,000 and a maximum of $1,500,000, with pro rata amounts earned between threshold and maximum. The Executive has no particular right to receive a cash incentive, and the Executive shall receive only such cash incentive, if any, as the Board may in its sole discretion determine in accordance with the performance criteria set by the Board or Compensation Committee as part of the cash incentive plan. Target incentives do not constitute a promise of payment. Executive’s actual cash incentive, if any, will depend on Company financial performance and the Board’s or Compensation Committee’s assessment of Executive’s individual performance.”
Cash Incentive Plan. The Executive shall be entitled to participate in the cash incentive plan of the Company, subject to the discretion of the Compensation Committee of the Board and to approval by the Board. Such cash incentive plan shall have a target bonus percentage for Executive of at least 60% of the Executive's Guaranteed Base Salary upon attainment of target EVA in accordance with the Corporate EVA Incentive Plan, or upon the attainment of such other target performance goals as the Compensation Committee, with the approval of the Board, shall from time to time establish.
Cash Incentive Plan. Savannah agrees for the term of this Agreement and for any extended term of this Agreement to provide Executive with a cash incentive payable under the same terms and conditions as were payable under Bryan Bank & Trust Officer's Cash Incentive Plan in effect at the time of execution of the definitive agreement.
Cash Incentive Plan. Subject to the terms and conditions of incentive bonus plan that may be approved by the Compensation Committee, the Executive shall be eligible to receive cash-based compensation in the event that the Company attains a certain percentage of its Performance Target, which Performance Target shall be determined by the Compensation Committee in its sole discretion and shall be consistent with the methodology used to calculate the incentive awards granted to other senior executives of the Company, as follows: Percentage of Performance Target Attained Amount of Cash-Based Compensation 90% 50% of Base Salary 100% 100% of Base Salary
Cash Incentive Plan. With respect to each fiscal year of the Company ending during the Employment Period, you shall be eligible to earn an incentive award (an “Annual Incentive Award”) under the Company’s bonus program, cash incentive plan (once established), or any successor plan (the “Cash Incentive Plan”) pursuant to the terms and conditions of the Cash Incentive Plan. For fiscal year 2023, 50% of your Annual Incentive Award shall be determined by the Compensation Committee in its discretion and 50% shall be determined based on your satisfaction of certain objectives that shall be established by the Compensation Committee. Prior to, at or effective as of the beginning of each fiscal year of the Company after fiscal year 2023, the Compensation Committee shall determine your target Annual Incentive Award, taking into consideration such factors as the Compensation Committee deems appropriate. Your target Annual Incentive Award under the Cash Incentive Plan for fiscal year 2023 shall be 100% of Base Salary. For the avoidance of doubt, in the event of any conflict between term definitions in this Section 3(b) and the Cash Incentive Plan, the definitions in this letter agreement shall control.
Cash Incentive Plan. With respect to each fiscal year of the Company ending during the Employment Period, you shall be eligible to earn an incentive award (an “Annual Target Incentive Award”) under the Company’s Cash Incentive Plan, or any successor plan (the “Cash Incentive Plan”) pursuant to the terms and conditions of the Cash Incentive Plan. Your incentive award shall be paid at such times and in such manner as set forth in the Cash Incentive Plan. Prior to or at the beginning of each fiscal year of the Company, the independent directors of the Board (upon the recommendation of the Compensation Committee) shall determine your Annual Target Incentive Award, taking into consideration such factors as the independent directors deem appropriate. For the avoidance of doubt, in the event of any conflict between term definitions in this Section 3(b) and the Cash Incentive Plan, the definitions in this Agreement shall control.
Cash Incentive Plan. With respect to each fiscal year of the Company ending during the Employment Period, you shall be eligible to earn an incentive award (a “Target Incentive Award”) under the Company’s Cash Incentive Plan, or any successor plan (the “Cash Incentive Plan”) pursuant to the terms and conditions of the Cash Incentive Plan. Your incentive award shall be paid at such times and in such manner as set forth in the Cash Incentive Plan. Prior to or at the beginning of each fiscal year of the Company, the Compensation Committee shall determine your Target Incentive Award, taking into consideration such factors as the Compensation Committee, and, where appropriate, the Board deems appropriate. Your Target Incentive Award under the Cash Incentive Plan for fiscal year 2022 (i.e., the year ending March 31, 2022) shall be 40% of Base Salary, provided, however, the Target Incentive Award for the 2022 fiscal year, to the extent earned under the Cash Incentive Plan, shall be prorated (based on the ratio of the number of days from the Effective Date to the last day of the fiscal year to 365). For the avoidance of doubt, in the event of any conflict between term definitions in this Section 3(c) and the Cash Incentive Plan, the definitions in this Agreement shall control.
Cash Incentive Plan. With respect to each fiscal year of the Company ending during the Employment Period, you shall be eligible to earn an incentive award (an “Annual Target Incentive Award”) under the Company’s Cash Incentive Plan, or any successor plan (the “Cash Incentive Plan”) pursuant to the terms and conditions of the Cash Incentive Plan. Your incentive award shall be paid at such times and in such manner as set forth in the Cash Incentive Plan. Prior to or at the beginning of each fiscal year of the Company, the independent directors of the Board (upon the recommendation of the Compensation Committee) shall determine your Annual Target Incentive Award, taking into consideration such factors as the independent directors deem appropriate. Your Annual Target Incentive Award under the Cash Incentive Plan for fiscal year 2021 (i.e., the year ending March 31, 2021) shall be 50% of Base Salary, provided, however, the Annual Target Incentive Award for the 2021 fiscal year, to the extent earned under the Cash Incentive Plan, shall be prorated (based on the ratio of the number of days from the Effective Date to the last day of the fiscal year to 365). For the avoidance of doubt, in the event of any conflict between term definitions in this Section 3(c) and the Cash Incentive Plan, the definitions in this Agreement shall control.
