Executive Incentive Bonus. In addition, Employee shall be eligible to participate in the Bank’s Executive Incentive Plan, in accordance with the terms and conditions of said plan, as the Bank, in its sole and absolute discretion, may establish from time to time.
Executive Incentive Bonus. (Upon formation of this program and approval of the Board) Executive shall be eligible to participate in the Company’s bonus and other incentive compensation plans and programs for the Company’s senior executives at a level commensurate with his position. Executive shall have the opportunity to earn an annual target bonus (the “Annual Bonus”) to be determined by and measured against objective financial criteria to be determined by the Board, or a committee thereof, of up to (TBD) percent of Base Salary upon the Company’s achievement of financial and operating metrics to be annually determined by the Board, or a committee thereof, and upon recommendation of the Chief Executive Officer; provided, however, that for the given fiscal year , the Board shall utilize the same metrics in determining the Annual Bonus that are applicable to the determination of the Chief Executive Officer’s bonus at a rate determined by the Board, or a committee thereof, upon recommendation of the Chief Executive Officer to be appropriate and reasonably commensurate with the bonus payable to other executives of the Company, and prorated for any partial period for which such bonuses are calculated during. Such annual incentive bonuses are payable to the Executive no later than sixty (60) days following the close of the fiscal year.
Executive Incentive Bonus. Executive shall continue to be eligible to receive an annual cash incentive bonus under the Company’s Senior Management Bonus Plan, as may be implemented and modified from time to time by the Company. The Board and the Committee each have the right to interpret and to construe the terms and provisions of any such plan, and the actions of the Board and the Committee in this regard shall be final and conclusive. Executive’s annual cash incentive bonus shall be determined by the Board and the Committee based upon the Company’s pre-determined performance metrics related to annual business objectives and the Executive’s individual performance goals ,with the Executive’s current target amount equal to one hundred percent (100%) of Executive’s Base Salary as of the first day of such fiscal year and the maximum amount of such annual cash incentive bonus to be equal to two hundred percent (200%) of the target annual bonus amount. Executive’s annual cash incentive bonus shall be subject to Section 9.10 of this Amended Agreement.
Executive Incentive Bonus. The Executive shall be entitled to an annual bonus based on his achievement of annual objectives mutually agreed upon by the Board and the Executive. Any bonus earned shall be paid no later than five (5) business days following approval by the Board of the Company's audited financial statements for the fiscal year to which the bonus relates. The parties agree that the Executive's target bonus shall be eighty percent (80%), based upon meeting plans and objectives mutually agreed to prior to each fiscal year.
Executive Incentive Bonus. In addition, Employee shall be eligible to participate in Company’s Executive Incentive Plan, in accordance with the terms and conditions of said plan, as Company, in its sole and absolute discretion, may establish from time to time, provided further that with respect to the 2003 calendar year, Employee’s incentive bonus shall be calculated based on Employee’s base salary prior to September 1, 2003.
Executive Incentive Bonus. Employee shall be eligible to receive such annual incentive bonus as may be provided from time to time by Company. The Board has the right to interpret and to construe the terms and provisions of any such plan and its actions in this regard shall be final and conclusive. Employee's annual bonus for the Company's 2002 fiscal year shall be determined under the 2002 Management Incentive Bonus Plan-President and Chief Executive Officer, a copy of which is attached as Exhibit A to this Agreement.
Executive Incentive Bonus. The Executive shall be entitled to an annual bonus based on his achievement of annual objectives mutually agreed upon by the Board and the Executive. Said bonus shall be a percentage of the Executive's Base Salary, which percentage can range in an amount from zero percent (0%) up to a maximum of one hundred percent (100%) of Base Salary. The percentage of the Executive's Base Salary to be paid as an annual bonus shall be determined by the Executive's achievement of the mutually agreed upon annual objectives. For the fiscal year ending November 30, 2002, the Executive will receive a guaranteed bonus of at least forty-five percent (45%) of his Base Salary. Any bonus earned shall be paid no later than five (5) business days following approval by the Board of the Company's audited financial statements for the fiscal year to which the bonus relates. The parties agree that the Executive's target bonus shall be sixty percent (60%), based upon meeting plans and objectives mutually agreed to prior to each fiscal year.
Executive Incentive Bonus. In addition, commencing the 2004 calendar year, Employee shall be eligible to participate in the Bank’s Executive Incentive Plan, in accordance with the terms and conditions of said plan, as the Bank, in its sole and absolute discretion, may establish from time to time. Employee will not be eligible to participate in said plan with respect to the 2003 calendar year.
Executive Incentive Bonus. Executive shall be eligible to receive a bonus under the Company’s short-term incentive bonus program, as may be implemented and modified from time to time by Company. The Board and the Committee each have the right to interpret and to construe the terms and provisions of any such plan, and the actions of the Board and the Committee in this regard shall be final and conclusive. As compensation for his services during the Company’s fiscal year ending February 28, 2014, the Company shall, on March 1, 2014, pay Executive a cash bonus in the amount of Two Hundred Fifteen Thousand Dollars ($215,000). Executive’s annual bonus for the Company’s fiscal year ending February 28, 2015 shall be determined by the Board based upon the Company’s goals with respect to its budget for such fiscal year, with the target amount of such annual bonus to be equal to eighty percent (80%) of Executive’s Base Salary as of the first day of such fiscal year and the maximum amount of such annual bonus to be equal to two hundred percent (200%) of the target annual bonus amount (i.e., 160% of Executive’s Base Salary as of the first day of such fiscal year) as of the first date of such fiscal year.
Executive Incentive Bonus. Executive shall be eligible to receive a bonus under the Company’s short-term incentive bonus program, as may be implemented and modified from time to time by Company. The Board and the Committee each have the right to interpret and to construe the terms and provisions of any such plan, and the actions of the Board and the Committee in this regard shall be final and conclusive. Executive’s annual bonus for the Company’s fiscal year ending February 28, 2015 shall be determined by the Board based upon the Company’s goals with respect to its budget for such fiscal year, with the target amount of such annual bonus to be equal to fifty five percent (55%) of Executive’s Base Salary as of the first day of such fiscal year and the maximum amount of such annual bonus to be equal to two hundred percent (200%) of the target annual bonus amount (i.e., 110% of Executive’s Base Salary as of the first day of such fiscal year) as of the first date of such fiscal year.
