Incentive Bonus Program Sample Clauses

Incentive Bonus Program. The parties recognize that the success of the Employer depends on the collective efforts of its employees. The parties also recognize that when executives are rewarded for the Employer’s performance, employees covered by this Agreement should be rewarded as well. Effective January 1, 2019 and for performance beginning with calendar year 2019, and each year thereafter, employees covered by this Agreement shall be covered by an Incentive Bonus Program. The triggers for payout under the Incentive Bonus Program shall be the same as those established annually by the Board of Directors for the Section 16 Officers of YRC Worldwide, Inc. who are required to file Form 4 xxxxxxx xxxxxxx documents with the SEC (“Section 16 Officers”) for their non-equity incentive plan or similar annual bonus program. In the event Section 16 Officers receive non-equity incentive plan or similar annual bonus compensation, employees covered by this Agreement shall be paid under this Incentive Bonus Program as follows: for every $1.00 of non-equity incentive plan or similar bonus compensation paid to all Section 16 Officers, $2.00 shall be made available for distribution to employees covered by this Agreement in the form of a one-time bonus payment. TNFINC shall be afforded the opportunity to review any and all calculations made in this regard. In the event the Board of Directors foregoes a non-equity incentive plan or similar bonus program for Section 16 Officers for a given year and decides instead to establish an equity-based program for Section 16 Officers for a given year, a payout of $750 under this Incentive Bonus Program shall be triggered for bargaining unit employees when the Section 16 Officers’ right to the equity triggers (for example, upon the attainment of a particular stock price). Any payments triggered under this Incentive Bonus Program shall be made within ninety (90) days of the end of the calendar year. To be eligible for a payment under the Incentive Bonus Program, an employee must work or have been paid for at least one thousand (1,000) hours in the prior calendar year and be employed by the Employer at the time of payout. In no event, however, shall employees be entitled to more than one (1) payment under this Incentive Bonus Program in any calendar year. The higher of any amounts shall be paid in that circumstance.
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Incentive Bonus Program. For the calendar year 1998, the Board of Directors has set three major objectives for the key executives. The objectives include opening the Aguascalientes project for commercial operations, keeping the Company properly capitalized for growth, and respecting the public market participation in the Company to ensure that gains made by the Company are recognized by its public ownership and reflected in its share price. To the extent that these objectives are met, the key participants in the incentive bonus program, including the Executive herein, shall be entitled to a minimum of twenty percent (20%) of his base salary to a maximum of one hundred fifty percent (150%) of base salary, depending upon the extent to which the objectives have been achieved. It is expected that the foregoing bonuses will be earned in 1998, unless the settlement or conclusion of the NAFTA litigation takes longer, in which case that particular special bonus will go beyond 1998 until there is a final resolution. It is expected that the Board of Directors will provide additional bonus incentives for years subsequent to 1998, provided that for the life of the contract there will always be at least a minimum incentive bonus of twenty percent (20%) due in December of each year.
Incentive Bonus Program. Promptly following the date hereof, Parent and the Company agree to hold discussions in good faith with a view to agreeing upon the terms of a retention bonus program covering selected employees of the Company and its Subsidiaries. To the extent agreed, such retention bonus program shall be adopted and communicated to employees as promptly as practicable following the date hereof, and shall have terms and conditions (including payment dates and amounts) that are substantially consistent with market practice and that shall be mutually agreed by Parent and the Company.
Incentive Bonus Program. 7. The Promissory Note issued by KII Acquisition Corp. ("KII") in favor of Xxxxxxxx Industries Holding AG in the principal amount of $1,750,000.
Incentive Bonus Program. The Executive shall be eligible to receive an annual incentive bonus (each an “Annual Incentive Bonus”) for each completed calendar year of employment during the Term in accordance with any bonus policy adopted by the Board (or an authorized committee thereof), as may be amended or modified from time to time. The bonus policy will provide that the Executive shall be entitled to earn an Annual Incentive Bonus for such completed calendar year of employment based on performance criteria determined in the sole discretion of the Board. The Annual Incentive Bonus for a completed calendar year of employment shall be paid within forty-five (45) days following the end of the completed calendar year. Other than as set forth in Section 9, the Executive must be employed by, or be providing services to, the Company or an affiliate of the Company on the date an Annual Incentive Bonus is to be paid to be eligible to receive the Annual Incentive Bonus for such completed calendar year of employment. Payment of the Annual Incentive Bonus may be made in the form of cash, stock bonus (issued pursuant to the EIP), or a combination thereof, as determined in the sole discretion of the Board (or an authorized committee thereof). As a condition to the Company’s obligations with respect to any stock bonus (including, without limitation, any obligation to deliver any shares of Common Stock with respect to any stock bonus), the Executive shall make arrangements satisfactory to the Company to pay to the Company any federal, state, local, or foreign taxes of any kind required to be withheld with respect to the delivery of shares of Common Stock with respect to such stock bonus. The award of any Annual Incentive Bonus shall be determined by the Board in its sole discretion.
Incentive Bonus Program. The Employee shall be eligible to receive performance-based bonuses, to be calculated and paid in accordance with Exhibit A, attached hereto (the “Incentive Bonus Program”).
Incentive Bonus Program. 3.1 Ricaxxx xxxl receive a cash bonus payable at the end of 1997 equal to 1/2 of one percent of the amount of the increase of PPL's 1997 firm shippable sales bookings in excess of PPL's 1996 actual shipped sales bookings. Said bonus shall be payable in installments. The initial installment shall be payable within fifteen (15) days after receipt, by JMAR, of its 1997 audit report from Arthxx Xxxexxxx & Xo. Subsequent quarterly installments shall be paid to Ricaxxx xxxed on 1997 bookings which are shipped in subsequent years.
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Incentive Bonus Program. For the fiscal years 2005 and 2006, the Board of Directors has set certain major objectives for the Executive. The objectives are keeping the Company properly capitalized for growth, and respecting the public market participation in the Company to ensure that gains made by the Company are recognized by its public ownership and reflected in its share price. In addition, the Executive is expected to grow revenues in areas other than asbestos abatement and Executive is expected to assist the Board in succession planning as it relates to his position as CEO of the Company. To the extent that these objectives are achieved, the Executive shall be entitled to a minimum of twenty percent (20%) of his base salary to a maximum of one hundred percent (100%) of base salary. In addition, the Company may consider to redeem a portion of the Executive's shares, at market, from the Executive not to exceed 8% annually of his holdings if it determines that the objectives are achieved and there exists unencumbered cash with which to do so. The Company may also permit the Executive to be a selling shareholder for a portion of his shares in the event that the Company undertakes a recapitalization that involves the sale of the Common Stock of the Company. In the alternative, the Company may consider redeeming a portion of the Executives Common Stock with the proceeds of the sale of Common Stock by the Company. It is expected that the foregoing bonuses will be earned in fiscal 2005, if the price of the Company's shares (adjusted for changes involving stock splits, forward and reverse) traded at or above $1.20 (on average) for 30 or more trading days in such fiscal year. It is expected that the Board of Directors will provide additional bonus incentives for years subsequent to 2005, provided that for the life of the contract there will always be at least a minimum incentive bonus of twenty percent (20%) of base salary, payable in April of each year, depending upon the extent to which Board objectives are achieved. It is expected that the bonuses will be earned in fiscal 2006, if the price of the Company's shares (adjusted for changes involving stock splits, forward and reverse) traded at or above $2.00 (on average) for 30 or more trading days in such fiscal year.
Incentive Bonus Program. For the fiscal years 2001 and 2002, the Board of Directors has set two major objectives for the Executive. The objectives are keeping the Company properly capitalized for growth, and respecting the public market participation in the Company to ensure that gains made by the Company are recognized by its public ownership and reflected in its share price. To the extent that these objectives are achieved, the Executive shall be entitled to a minimum of twenty percent (20%) of his base salary to a maximum of one hundred percent (100%) of base salary. It is expected that the foregoing bonuses will be earned in fiscal 2001, if the price of the Company's shares (adjusted for changes in capitalization) traded at or above $1.50 (on average) for 30 or more trading days in such fiscal year. It is expected that the Board of Directors will provide additional bonus incentives for years subsequent to 2001, provided that for the life of the contract there will always be at least a minimum incentive bonus of twenty percent (20%) of base salary, payable in April of each year, depending upon the extent to which Board objectives are achieved.
Incentive Bonus Program. Purpose: To provide incentives for more Registered Nurses to commit to work extra overtime shifts to meet patient needs and to decrease the use of traveling nurses.
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