Incentive Compensation Target Bonus Sample Clauses

Incentive Compensation Target Bonus. Executive will be eligible to receive an annual objective-based incentive bonus (“Target Bonus”) based on criteria established by the Board. For the fiscal year of Executive’s employment ending June 30, 2011 (the “2011 Target Bonus”) and subsequent fiscal years, Executive’s Target Bonus will be equal to one hundred percent (100%) of Executive’s then-current Base Salary. Such Target Bonus may be increased at the discretion of the Board to a maximum of one hundred and fifty percent (150%) of the then current Base Salary based on achievement of performance objectives determined by the Board. The bonus will be paid as soon as reasonably practicable after the fiscal-year end but no later than the Section 409A short-term deferral period under Treasury Regulation 1.409-1(b)(4). The 2011 Target Bonus shall be prorated by the number of days between the Effective Date and June 30, 2011. This prorated portion of the 2011 Target Bonus will be guaranteed at one hundred percent (100%). Any earned bonus will be paid regardless of whether Executive is employed at the time the bonus is to be paid.
Sample 1
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Incentive Compensation Target Bonus. Executive will be eligible to participate in a Company bonus plan that may be established from time to time in the Company’s sole discretion. Executive’s target bonus amount will be $500,000, payable at the discretion of the Board based on Company and Executive performance (the “Incentive Bonus”). If Executive is hired after the start of a fiscal year, the bonus will be pro-rated for the balance of fiscal year in which the Executive is hired. Executive must be employed by the Company on the payment date in order to receive any Incentive Bonus.
Sample 1
Incentive Compensation Target Bonus. Executive will be eligible to receive an annual objective-based incentive bonus (“Target Bonus”) based on criteria established by the Board. For the 2014 fiscal year of Executive’s employment and subsequent fiscal years, Executive’s Target Bonus will be up to fifty percent (50%) of Executive’s then-current Base Salary. The Target Bonus will be reviewed annually by the Compensation Committee of the Board. The bonus will be paid as soon as reasonably practicable after the fiscal-year end but no later than the Section 409A short-term deferral period under Treasury Regulation 1.409-1(b)(4). Except as otherwise provided for herein, Executive must be employed with the Company on the date the Target Bonus is paid. The corporate objectives bonus target for 2013 shall remain at thirty-five percent (35%).
Sample 1
Incentive Compensation Target Bonus. As of the Effective Date, Executive will be eligible to receive an annual objective-based incentive bonus based on criteria mutually established by Executive and the Board (“Target Bonus”). Executive’s Target Bonus will be equal to fifty percent (50%) of Executive’s then-current Base Salary. The Target Bonus may be increased at the discretion of the Board to a maximum of sixty percent (60%) of the then current Base Salary based on exceptional performance as determined by the Board or Compensation Committee. The Company maintains the right to change, modify or eliminate the Target Bonus at any time. The annual Target Bonus shall be paid within the Section 409A short term deferral period (to the extent required) following the determination of the Board or Compensation Committee and shall consist of all cash.
Sample 1
Incentive Compensation Target Bonus. Executive will be eligible to receive an annual objective-based incentive bonus (“Target Bonus”) based on criteria established by the Board. For the fiscal year of Executive’s employment ending June 30, 2010 (the “2010 Bonus”), Executive’s Target Bonus will be equal to eighty-five percent (85%) of Executive’s then-current Base Salary subject to the FY10 CEO Performance Evaluation Process as currently documented by the Compensation Committee and ratified by the Board. Following the 2010 Bonus, Executive’s Target Bonus, if any, will be determined by the Board following the then-current FY CEO Performance Evaluation Process as documented by the Compensation Committee and ratified by the Board. The Target Bonus is conditioned upon Executive’s satisfying the criteria and objectives established by the Board. Except as may be set forth otherwise herein, to receive payment of any bonus Executive must be employed by the Company at the time bonuses are paid.
Sample 1
Incentive Compensation Target Bonus. As of April 1, 2011, Executive will be eligible to participate in the Company’s Corporate Bonus Plan, based on criteria established by the Board (“Target Bonus). Executive’s Target Bonus will be equal to one hundred percent (100%) of Executive’s then-current Base Salary based on upon achievement of such performance goals and conditions established by the Board with Executive’s input, and Executive will have the opportunity to earn up to a total bonus of 275% of Executive’s annual base salary for performance exceeding those goals in accordance with the plan established by the Board. For subsequent years, your bonus will be reviewed annually by the Compensation Committee and you will be eligible to receive a bonus in such amount and upon such terms as shall be recommended by the Compensation Committee and approved by the Board. The Company maintains the right to change, modify or eliminate the Corporate Bonus Plan at any time.
Sample 1
Incentive Compensation Target Bonus. Executive will be eligible to receive an annual objective-based incentive bonus of up to twenty-five percent (25%) of Executive’s then-current Base Salary (“Target Bonus”). For the first calendar year of eligibility, the Target Bonus will be prorated based on the time period between the Effective Date and the end of the calendar year. The Company maintains the right to change, modify or eliminate the Target Bonus at any time. Upon the closing of a financing in an amount greater than forty million dollars (the “Financing”), you will be eligible to receive a one-time bonus of $75,000 (the “One-time Bonus”), provided you are employed by the Company on both the date the Financing closes and the date the One-time Bonus is paid to you, which shall be paid within sixty (60) days of the closing of the Financing.
Sample 1
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Related to Incentive Compensation Target Bonus

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • Cash Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

  • Incentive and Bonus Compensation The Executive shall be eligible to participate in the Company’s existing and future bonus and stock option plans and other incentive compensation programs for similarly situated executives (collectively, “Plans”), to the extent that the Executive is qualified to participate in any such Plan under the generally applicable provisions thereof in effect from time to time. Such eligibility is not a guarantee of participation in or of the receipt of any award, payment or other compensation under any Plan. To the extent the Executive does participate in a Plan and the Plan does not expressly provide otherwise, the Chief Executive Officer and/or the Board, as appropriate, may determine all terms of participation (including, without limitation, the type and size of any award, payment or other compensation and the timing and conditions of receipt thereof by the Executive) in the Chief Executive Officer’s or the Board’s sole and absolute discretion. Nothing herein shall be deemed to prohibit the Company or the Board from amending or terminating any and all Plans in its sole and absolute discretion. Except as otherwise provided herein, the terms of each Plan shall govern the Executive’s rights and obligations thereunder during the Executive’s employment and upon the termination thereof. Without limiting the generality of the foregoing, the definition of “Cause” hereunder shall not supersede the definition of “cause” in any Plan (unless the Plan expressly defers to the definition of “cause” under an executive’s employment agreement) and any rights of the Executive hereunder upon and subsequent to the termination of the Executive’s employment shall be in addition to, and not in lieu of, any right of the Executive under any Plan then in effect upon or subsequent to a termination of employment.

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Base Salary and Incentive Compensation The Company shall pay to Executive (i) his Base Salary (as in effect as of the date of his termination) and (ii) Incentive Compensation (in an aggregate amount equal to the applicable portion of the cash Incentive Compensation received by the Executive for the most recent fiscal year prior to his termination) as follows: Years of Base Payout Service Salary Incentive Compensation Period Less than one 3 months 25% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 3 months One but less than two 6 months 50% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 6 months Two but less than three 9 months 75% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 9 months Three or More 12 months 100% of the Short Term Incentive Plan award for the most recent full fiscal year prior to termination 12 months To the extent permitted under Code Section 409A, the sum of applicable Base Salary and Incentive Compensation shall be divided into equal monthly payments and paid to the Executive over the applicable Payout Period shown in the table above, depending on the Executive’s years of service at the time of Termination.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

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