Common use of Incentive Bonus Program Clause in Contracts

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.

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-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.

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 Executive shall be covered by eligible to receive an annual incentive bonus (each an “Annual Incentive Bonus Program. The triggers Bonus”) for payout under each completed year of employment during the Incentive Bonus Program shall be the same as those established annually Term in accordance with a 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 year of Directors employment based on performance criteria determined in the sole discretion of the Board. The Annual Incentive Bonus for the Section 16 Officers a completed year 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 employment shall be paid under this within forty-five (45) days following the end of the completed 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 Program as follows: for every $1.00 of non-equity incentive plan or similar bonus compensation is to be paid to all Section 16 Officers, $2.00 shall be eligible to receive the Annual Incentive Bonus for such completed year of employment. Payment of the Annual Incentive Bonus may be made available for distribution to employees covered by this Agreement in the form of cash, stock bonus (issued pursuant to the EIP), or a one-time 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 payment(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. TNFINC In lieu of the Annual Incentive Bonus for each completed year of employment during the Initial Term, which the Executive acknowledges that the Executive will not be eligible to receive, the Company has adopted a special incentive bonus program under which the Executive will be eligible to receive an incentive bonus on each December 31 and June 30 during the Initial Term (the “Special Incentive Bonus”). For each of the five (5) Special Incentive Bonuses payable during the Initial Term, the Executive shall be afforded eligible to receive a bonus of 1,000,000 shares of the opportunity to review any and all calculations made in this regard. In the event Company’s Common Stock, provided the Board of Directors foregoes a non-equity incentive plan has determined, in its sole discretion, that the Executive’s performance has been average or similar bonus program better 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 such Special 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)period. Any payments triggered under this The Special 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 each period shall be paid within forty-five (45) days following December 31 or June 30, as applicable. Other than as set forth in that circumstanceSection 9, the Executive must be employed by, or providing services to, the Company or an affiliate of the Company on the date the Special Incentive Bonus is to be paid to be eligible to receive the Special Incentive Bonus for such period. As a condition to the Company’s obligations with respect to each Special Incentive Bonus (including, without limitation, any obligation to deliver any shares of Common Stock with respect to any Special Incentive 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 Special Incentive Bonus.

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 shall 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 $750 740 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.