Executive Bonus Program Clause Samples

Executive Bonus Program. For each full fiscal year during which Executive remains employed under this Agreement, Executive will have an opportunity to earn a fiscal year-end bonus based upon performance and earnings targets and other standards to be established by the Board or the Compensation Committee for each such year and based upon the Compensation Committee’s and the Board’s evaluations of Executive’s fiscal year results. Bonuses, if any, will be determined and awarded in the Board’s discretion following completion of the Company’s annual audit by independent auditors.

Executive Bonus Program. Executive agrees that the payment to Executive of the Existing Severance hereunder will not be deemed to be "in connection with circumstances which would permit such Participant to receive severance benefits pursuant to any contract of employment between such Participant and the Company or any of its subsidiaries" within the meaning of clause (d) of the last sentence of Section 5 of the Company's Executive Bonus Program, as in effect on the date hereof.

Executive Bonus Program. Employee shall be entitled to participate in any executive bonus program implemented for executives of the Company and approved by the Board.

Executive Bonus Program. Executive shall be eligible for and a full participant in an executive and/or personal bonus program that will reward him for successfully closing an IPO, increasing shareholder value through increases in the stock price, and successfully closing strategic acquisitions or other major accomplishments within his full or partial control as Chief Financial Officer of the Employer. In the event no such plan is adopted, approved or implemented by the Board of Directors or the Compensation Committee thereof, Executive shall receive an annual cash bonus, which shall not exceed one hundred percent (100%) of his base salary for such period. The bonus shall be determined in accordance with the following formula, which shall be calculated no later than March 31 of the year following the year for which the bonus is to be calculated: 2000: 2.5% of any net revenues in excess of 1999 net revenues.

Executive Bonus Program. Amended and Restated Dividend Reinvestment and Stock Purchase Plan, dated July 24, 2012 and amended on July 25, 2012.

Executive Bonus Program. You are eligible to participate in the Executive Bonus Program which has an annualized potential of $60,000. You will be eligible to receive a prorated portion of this based upon your start date and the achievement of goals and successful attainment of objectives as mutually agreed by you and the President and Chief Operating Officer.

Executive Bonus Program. As a sign-on bonus, Executive shall be entitled to payment of the equivalence of $15,000, to be paid no later than ten (10) days after the first day of employment according to this Agreement. Executive shall be eligible for an annual cash bonus, which shall not exceed one hundred and twenty percent (120%) of his basic salary for such period. The bonus, payable on April 15th each year, shall be determined in accordance with the following linear formula: " equivalent of US $5,000 in bonus for every $1 million in worldwide sales in year 2000 (e.g., $50,000 if sales are US $10,000,000) " equivalent of US $6,667 in bonus for every $1 million in worldwide sales in year 2001 (e.g., US $100,000 if sales are US $15,000,000) " equivalent of US $5,000 in bonus for every $1 million in worldwide sales in year 2002 (e.g., US $150,000 if sales are $30,000,000) If, during the term of this Agreement, Executive is domiciled and his services are rendered substantially in the United States, payment of Executive's salary and bonus shall be paid in US dollars and shall be subject to deductions for social security, federal and state payroll taxes and unemployment and other standard deductions and withholdings. Otherwise Executive's salary according to this agreement shall be paid in the currency of the country in which he is domiciled and his salary and bonus shall be subject to all applicable local withholding requirements. Employer agrees the Executive's bonus, including sign-on bonus, when paid in non-US currency, shall be the equivalent of at least 60% net of the entire bonus amount payable in United States dollars, based on the foreign currency's exchange rate with the US dollar, as determined on a quarterly basis (January 1, April 1, July 1, October 1), by reference to the exchange rates published in the Wall Street Journal or similar periodical. By way of example, if the bonus payable would be US $100,000 subject to US withholding, Employer shall ensure that the net amount paid to Executive shall at least equal 60,000 US net dollar.

Executive Bonus Program. For so long as he serves as Chief Executive Officer, Childers shall be entitled to receive in addition to compensation provided for in this Agreement, additional compensation as is provided for in Schedule II attached hereto and forming part of this Agreement.

Executive Bonus Program. Executive will be eligible to receive an annual bonus in accordance with MTI’s Executive Bonus Program, which is established annually by the Board of Directors at its sole discretion. In order to receive an annual bonus under MTI’s Executive Bonus Program, Executive must be employed through the end of the applicable fiscal year. Any annual bonus received in accordance with MTI’s Executive Bonus Program shall be deemed earned upon payment and will be paid within sixty (60) days following the end of the applicable fiscal year.