Executive Incentive Plan Sample Clauses

Executive Incentive Plan. Upon entering into this Agreement, Employee shall invest not less than $200,000 in cash in exchange for shares of the Company’s parent’s common stock, which investment will be matched by the Company on a 4 to 1 basis by a grant of restricted shares, subject to and in accordance with the terms and conditions of the Company’s Executive Incentive Plan (“EIP”). Such investment shall be made by the Company applying $200,000 from the payments specified in Section 4(b) below. In connection with the foregoing and as a condition to the purchase of such shares, Employee agrees to execute such documents and take such other action as may reasonably be required by Company or the Company’s parent, including, but not limited to, executing a subscription agreement in a form satisfactory to the Company’s parent and executing a counterpart to the Investor Stockholders Agreement, dated as of June 16, 2005, by and between the Company’s parent and the stockholders of the Company’s parent.

Executive Incentive Plan. (a) Promptly after the date hereof, the Company shall communicate and explain the terms of the 2006 Executive Incentive Plan to all employees covered by such Plan and shall use reasonable best efforts to cause all such employees to be bound by the terms thereof. (b) The Company agrees that, without Parent’s consent, it shall not make and shall not agree to make any changes to the terms of the Executive Incentive Plan.

Executive Incentive Plan. ▇▇. ▇▇▇▇▇▇ will be eligible to receive an Executive Incentive Plan (EIP) payment for Fiscal-Year 2006. This payment will be based solely on the actual corporate financial performance achieved, as established in the beginning of such fiscal year, with no discretionary adjustment made to it. This amount will be paid in a single lump sum payment in cash (or deferred if previously elected) at the time all other EIP participants receive payment.

Executive Incentive Plan. In addition to the Base Salary, Employee shall be eligible to receive an executive incentive bonus of 50% of her Annual Base Salary for the fiscal year ending December 31, 2001, prorated for the months worked during the 2001 fiscal year, provided the Company achieves 100% of its EBIDTA target and the Employee is employed by COMSYS on the generally applicable bonus payout dates. Employee will be eligible to receive more than 50% of her Annual Base Salary if the Company achieves more than 100% of its EBIDTA target. A separate document outlining the Executive Incentive Plan shall be provided to Employee. For each subsequent year the Employee remains employed, she shall be eligible for the Executive Incentive Plan that will be provided to similarly situated executives within the Company.

Executive Incentive Plan. You will be eligible for the 2013 Executive Incentive Plan (“EIP”). Your EIP bonus opportunity will be prorated from your effective hire date and your target incentive amount will be equal to 70% of your annualized base salary. The EIP plan can payout anywhere between zero and 150% of target if the company’s performance exceeds the performance goals. The actual amount of any such bonus will be determined in accordance with the terms of the EIP. You must be employed on the last day of the bonus year to be eligible for any bonus payout, where applicable. Additional information regarding the 2013 program will be made available to you in March. For the 2013 EIP, you will receive the greater of 50% of your target incentive amount ($175,000) or the actual amount earned in accordance with the actual plan results for the year. This payout would occur in the same time frame as other incentive payments.

Executive Incentive Plan. The Executive shall be entitled to participate each year in the Corporation's Executive Incentive Share Purchase Plan or any successor plan thereto (all such plans referred to in the aggregate as the "EISPP") to the extent that the Executive's performance exceeds 100% of the annual performance objectives established for him. Any award earned for 2006 shall be prorated to reflect employment in 2006 following the Hire Date. The EISPP is governed by its terms and is subject to amendment to comply with the requirements of Section 409A of the Internal Revenue Code of 1986, as amended (the "Code").

Executive Incentive Plan. In addition to the Base Salary and the Target Bonus, Executive may also be eligible to participate in an incentive bonus plan, if any, to be established and administered by the Compensation Committee of the Board of Directors (the "Bonus Plan"). The criteria on which awards under any such Bonus Plan are based shall be set by the Board or the Compensation Committee of the Board. In order for Executive to be eligible to participate in the Bonus Plan during a particular year of the Term, the annual target bonus set under the Bonus Plan for Executive (disregarding the existence of the Target Bonus) for that year (the "Plan Target") must exceed fifty percent (50%) of his Base Salary. If, in fact, the Plan Target for a given year exceeds fifty percent (50%) of Executive's Base Salary, then Executive's total possible bonus compensation for that year shall be equal to (i) the Target Bonus, plus (ii) the difference between the Plan Target and the Target Bonus (the "Incremental Bonus"), with the Target Bonus based on the Benchmarks, and the Incremental Bonus based on the criteria set by the Board of Directors or the Compensation Committee under the Bonus Plan. If the Plan Target for a given year is equal to or less than fifty percent (50%) of Base Salary, then Executive's total possible bonus compensation for that year shall be equal to the Target Bonus alone, and Executive shall not be eligible to receive any additional bonus compensation under, or participate in, the Bonus Plan for that year. By way of illustration, and not as a limitation, if the Plan Target for a given year during the Term was set at seventy-five percent (75%) of Base Salary, then Executive would be eligible to earn, in the aggregate, bonus compensation for the applicable year in an amount of up to seventy-five percent (75%) of Executive's Base Salary for such period (i.e., 50% + (75% - 50%) = 75%), two-thirds of which would be based on the Benchmarks, and one-third of which would be based on the criteria set by the Board of Directors or the Compensation Committee under the Bonus Plan. If the Plan Target was set at forty-five percent (45%) of Base Salary, then Executive would be eligible to earn only the Target Bonus (i.e., up to fifty percent (50%) of Executive's Base Salary for such period) and would not be eligible to receive any additional bonus compensation under, or participate in, the Bonus Plan.

Executive Incentive Plan. In addition to the Base Salary, and as an incentive for the Executive to stretch for early achievement of the approved business strategy, the Company shall pay to Executive an award ("Executive Award"), with such award having a minimum payout of 20% and a potential maximum payout of 100% of his then annual base salary of record, payable annually during each year of the term. The Executive Award will be based on a formula, which is to be developed and approved by the Board and the Executive. The Board will use this formula to evaluate the accomplishment of pre-stated financial and non-financial results and/or milestone achievements by the Executive during the first three years of the Term. Details of the Executive Incentive Plan and a Plan document are to be completed no later than ninety [90] days after the effective commencement date of this Agreement.

Executive Incentive Plan. During the term of employment under this Agreement, the Executive shall be eligible to participate in the Company’s Executive Incentive Plan (the “EIP”) as issued pursuant to the Amended and Restated 2007 Long Term Incentive Plan (the “Plan”). The Executive’s target Annual Cash Incentive and Long Term Incentive amounts under the EIP shall be set by the Compensation Committee of the Board (the “Committee”) as a percentage of Base Salary. For fiscal year 2012, the Annual Cash Incentive shall be 100% of Base Salary at target, and the Long Term Incentive shall be 175% of Base Salary at target.