Incentive Remuneration Clause Samples
The Incentive Remuneration clause defines the terms under which additional compensation, beyond base salary, is awarded to an employee or contractor based on the achievement of specific performance targets or milestones. Typically, this clause outlines the criteria for earning bonuses, commissions, or other incentive payments, such as meeting sales goals, project deadlines, or quality benchmarks. Its core practical function is to motivate and reward individuals for exceptional performance, aligning their interests with organizational objectives and driving desired outcomes.
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Incentive Remuneration. Such incentive remuneration not exceeding 200% of salary to be paid at the discretion of the Board annually, based on certain performance criteria and such other parameters as may be considered appropriate from time to time.
Incentive Remuneration. 6.1 Effective with the signing of this Agreement Tengtu agrees to cause to be vested to Consultant 500,000 shares of Tengtu at no cost to Consultant. These shares will be subject to a voting trust for two years in favour of Pak ▇▇▇▇▇▇.
6.2 At each anniversary of this contract or at achievement of each objective, Consultant will receive a performance bonus in cash or equity (equity to be determined based on latest month and share price) or a combination as agreed to by Consultant and Tengtu equal to percentages identified in Table A attached of capital funds raised, revenue/profit achieved, alliances and acquisitions attained and share price increases.
6.3 Effective with the acquisition of the Iconix project (to be identified as such by Consultant) Consultant will receive a one-third interest in the share equity of the Iconix equity at Consultant option, at no cost to Consultant.
6.4 Effective with completion of each corporate acquisition by Tengtu, Consultant will receive a 10.1% interest in the share equity of each project at Consultant's option at no cost to Consultant. Each acquisition will be subject to Board approval and Consultant may charge percentage in conjunction with executive compensation packages that Consultant is to design.
Incentive Remuneration