Cash Incentive Program Clause Samples
Cash Incentive Program. During the Term, Executive will be eligible to participate in a short-term cash or equity incentive program under which incentive compensation awarded will be based on the Company’s achievement of results set forth in a particular year. Executive’s target bonus and the target achievement shall be set annually by the Company in consultation with the Executive. Any bonus awarded to the Executive under the cash incentive program shall be paid within 30 days after the issuance of the Company’s final audited financial statements for such calendar year, but in no case later than 120 days after the end of such calendar year. Executive must be employed through the last day of the fiscal year, which shall not fall within any notice period under Section 3(c) or 3(d) of the Agreement, to be considered for payment under this Program. Any bonus awarded for achieving such targets for the first or last fiscal year covered by this Agreement may be rewarded by the proportional number of weeks worked by Executive.
Cash Incentive Program. During the Employment Term, Executive shall have the opportunity to earn a cash incentive award of up to 100% of Base Salary for each fiscal year of the Company, based on actual performance (the “Cash Incentive Award”). The Cash Incentive Award, if any, shall be determined by, and in the sole and absolute discretion of, the Compensation Committee of the Parent Board (or if no such committee is in place, the Parent Board) in consultation with the CEO. The Compensation Committee of the Parent Board (or if no such committee, the Parent Board) in consultation with the CEO, shall determine the amount (if any) and terms of any Cash Incentive Award (including any applicable performance criteria and/or deferral component). The determinations of the Compensation Committee of the Parent Board (or if no such committee, the Parent Board) in respect of the cash incentive program shall be final and binding on all parties. Pursuant to the terms of this Agreement, the Executive shall receive a guaranteed minimum Cash Incentive Award for the fiscal year 2020 of $208,000 (Two Hundred and Eight Thousand Dollars), payable in line with customary cash incentive practices.
Cash Incentive Program. During the Employment Term, Executive shall have the opportunity to earn a cash incentive award for each fiscal year of the Company. The cash incentive award, if any, shall be prorated for any partial year of Executive’s employment with the Company, based on actual performance. The cash incentive award, if any, shall be determined by, and in the sole and absolute discretion of, the Compensation Committee of the Board (or if no such committee is in place, the Board) in consultation with the CEO. The Compensation Committee of the Board (or if no such committee, the Board) in consultation with the CEO, shall determine the amount (if any) and terms of any cash incentive award (including any applicable performance criteria and/or deferral component). The determinations of the Compensation Committee of the Board (or if no such committee, the Board) in respect of the cash incentive program shall be final and binding on all parties. Your target cash incentive award is 70% of your annualized base salary, based on performance, subject to the terms of the Company’s cash incentive plan as in effect from time to time or any successor plan (“Cash Incentive Award”).
Cash Incentive Program. During the Employment Term, Executive shall have the opportunity to earn a target cash incentive award of up to 140% of Base Salary for each fiscal year of the Company, based on actual performance (the “Cash Incentive Award”). The Cash Incentive Award, if any, shall be determined by, and in the sole and absolute discretion of, the Compensation Committee of the Parent Board (or if no such committee is in place, the Parent Board) in consultation with the CEO. The Compensation Committee of the Parent Board (or if no such committee, the Parent Board) in consultation with the CEO, shall determine the amount (if any) and terms of any Cash Incentive Award (including any applicable performance criteria and/or deferral component). The determinations of the Compensation Committee of the Parent Board (or if no such committee, the Parent Board) in respect of the cash incentive program shall be final and binding on all parties.
Cash Incentive Program. During the Employment Term, Executive shall have the opportunity to earn a cash incentive award for each fiscal year of the Company. The cash incentive award, if any, shall be prorated for any partial year of Executive’s employment with the Company, based on actual
Cash Incentive Program. (a) For calendar year 2024, the Executive shall be eligible to receive an annual cash bonus based upon a target award opportunity of $247,250, which represents 80% of Executive’s Base Compensation for the period of Jan 1, 2024 through March 31, 2024, and 50% of Executive’s Base Compensation for the remainder of the Transition Period (“2024 Bonus”). The 2024 Bonus is subject to achievement of the pre-established 2024 Company performance metrics, as calculated by the Company in the first quarter of 2025, without regard to any individual performance goals otherwise set forth in the Company’s 2024 annual cash bonus plan. The 2024 Bonus shall be made to Executive less all applicable taxes, deductions, and other withholdings at the same time that bonus awards, if any, are made to other participants in the annual cash incentive program generally.
(b) The Executive shall be paid any bonus award earned under the 2023 annual cash bonus plan at the same time that bonus awards are paid to other participants in the annual cash bonus plan, subject to the terms and conditions of such plan.
Cash Incentive Program. (a) For calendar year 2022, the Executive shall be eligible to participate in the Company’s annual cash incentive program. The Executive shall be eligible to earn an annual cash incentive compensation award based upon a target award opportunity of $1,242,000, which is equal to 120% of his Base Compensation, subject to achievement of the pre-established performance metrics under the program and the terms and conditions of such program and the Company’s Non-Equity Incentive Plan, and any such award shall be paid in full without proration. Any bonus award for calendar year 2022 shall be made to Executive less all applicable taxes, deductions, and other withholdings at the same time that bonus awards, if any, are made to other participants in the annual cash incentive program generally.
(b) The Executive shall be paid any bonus award earned under the 2021 annual incentive program at the same time that bonus awards are paid to other participants in the annual cash incentive program generally, subject to the terms and conditions of such program and the Company’s Non-Equity Incentive Plan. Any such award shall be paid in full without proration.
Cash Incentive Program. To the extent that, in connection with a Corporate Transaction, the successor corporation (or its parent) replaces the Option with a cash incentive program, Optionee's right to receive cash payments for the Option Shares will be paid out no later than in accordance with the Vesting Schedule. However, if Optionee's Service is Involuntarily Terminated within twelve months following a Corporate Transaction, then Optionee's right to receive all of the cash payments that are unvested as of the date of the Involuntary Termination shall be accelerated in full and shall no longer be subject to the Vesting Schedule.
Cash Incentive Program. For calendar year 2026, the Executive shall be eligible to participate in the Company’s annual cash incentive program. The Executive shall be eligible to earn an annual cash incentive compensation award based upon a target award opportunity of $1,000,000, which is equal to 100% of his Base Compensation, subject to achievement of the pre- established performance metrics under the program and the terms and conditions of such program and the Company’s Non-Equity Incentive Plan, and any such award shall be paid in full without proration. Any bonus award for calendar year 2026 shall be made to Executive less all applicable taxes, deductions, and other withholdings at the same time that bonus awards, if any, are made to other participants in the annual cash incentive program generally. The Executive shall also remain eligible for payment of his 2025 annual bonus in the ordinary course pursuant to the terms and conditions of the Company’s annual cash incentive program.
Cash Incentive Program. Pursuant to Section 125 of the Internal Revenue Code, an employee covered by this agreement may drop their health benefits coverage and receive 25% of the cost of the premium in lieu of coverage offered by the Board. An employee covered by this agreement may, as an alternative, reduce their health benefits coverage (e.g. go from Family to Single) and receive 25% of the difference between the premium charges in lieu of covered offered by the Board. This cash benefit is taxable in accordance with IRS requirements. This incentive applies to health and prescription benefits. Dental coverage is excluded.