Incentive Compensation Plan Bonus. With respect to each fiscal year of the Company that ends during the Employment Term, Executive shall be entitled to receive an annual bonus (an “ICP Bonus”), pursuant to the Company’s Incentive Compensation Plan or any successor thereto (the “ICP”), to the extent that the applicable performance criteria established pursuant to the ICP are satisfied. Executive’s target ICP Bonus opportunity (“ICP Target”) for each fiscal year shall be no less than 50% of the Base Salary he earned during such year. Notwithstanding the foregoing, Executive’s ICP Bonus shall be guaranteed to be no less than ICP Target for one year beginning on the Employment Date and shall be paid automatically for such period, provided that such payments shall be prorated for the remainder of 2004 and for the portion of 2005 prior to the anniversary of the Employment Date. The balance of the 2005 ICP Bonus that is based on the portion of 2005 that follows the anniversary of the Employment Date will only be paid to the Executive if the Company attains its corporate financial targets for the 2005 year and to the extent Executive satisfies his individual targets, in accordance with the then-existing ICP. If the Company exceeds its corporate financial targets under the ICP in any year, Executive shall be eligible to participate in any payout that exceeds 100% of the ICP Target, subject to any adjustment that may be made based on individual performance, in accordance with the ICP. Any portion of the ICP Bonus guaranteed or earned for 2004 and 2005 shall be paid in April of 2005 and 2006, respectively, or on such earlier date upon which other senior executives of the Company are paid their corresponding ICP Bonuses. Executive acknowledges that the ICP Bonus for periods following the first anniversary of the Employment Date is not guaranteed in any respect. Any ICP Bonus earned shall be paid in cash through the Company’s standard payroll methods, subject to required withholding. Except as referenced above, all other terms and conditions of the then current ICP Plan will apply.
Incentive Compensation Plan Bonus. The Executive’s bonus opportunity pursuant to the Company’s Incentive Compensation Plan (“ICP”) shall be seventy-five percent (75%) of the Executive’s Base Salary (initially, $562,500), less applicable withholding (the “ICP Bonus”). For calendar year 2003 a portion of the ICP Bonus, equal to $422,500, is guaranteed and shall be paid automatically, while the balance of the 2003 ICP Bonus ($140,000) will only be paid to the Executive if the Company attains its Corporate Financial Targets (as defined in the ICP and as adjusted by resolution of the C&O Committee, dated April 23, 2003, to reflect the PanVera acquisition) for the 2003 calendar year, in accordance with the existing ICP as provided to the Executive, but without giving effect to any adjustment to the Corporate Financial Targets for 2003 adopted after the Employment Date without the Executive’s written consent. If the Company exceeds such financial goals, Executive shall be eligible to participate in any payout that exceeds 100% of the target bonus in accordance with the ICP. Any portion of the ICP Bonus guaranteed or earned for 2003 shall be paid in March 2004. Any ICP Bonus earned after 2003 shall be paid in accordance with the existing ICP then in effect. Executive acknowledges that the ICP Bonus for periods following 2003 is not guaranteed and shall be payable only upon satisfaction of the annual financial goals established by the Board or the C&O Committee.
Incentive Compensation Plan Bonus. 9.1 Subject to Clauses 9.3 and 9.4, you shall be entitled to participate in SVB Financial Group's Senior Management Incentive Compensation Plan ("ICP") details of which will be provided to you separately and for the purposes of which you shall be treated as a Member as defined in that plan. For the avoidance of doubt, to the extent that any provision contained within the ICP is incompatible with English Law the Company retains absolute discretion as to the application of the ICP.
Incentive Compensation Plan Bonus. Executive’s annual target bonus opportunity pursuant to the Company’s Incentive Compensation Plan (“ICP”) shall be not less than one hundred fifty percent (150%) of Executive’s Base Salary, less applicable withholding (the “ICP Bonus”). The ICP Bonus shall be paid in accordance with the terms of the ICP as then in effect.
