Maximum Threshold. 150% of the product of Executive’s Personal Factor multiplied by Executive’s Annual Base Salary. The performance goals applicable to the Annual Bonus shall be based on EBITDA and determined by the Board of Directors of the Company (the “Board”) or a committee thereof in consultation with the CEO. If the Company has adopted a stretch bonus pool for the applicable fiscal year (the “Stretch Pool”) and performance exceeds the maximum threshold, 10% of the excess EBITDA shall be allocated to an executive bonus plan to be allocated by the CEO, provided that if Executive participates in the Stretch Pool, Executive’s allocations shall be subject to the approval of the Committee, in consultation with Executive. In no event shall Executive’s Annual Bonus be paid after March 15 of the year following the year in which it was earned.
Appears in 2 contracts
Sources: Employment Agreement (Westrock Coffee Holdings, LLC), Employment Agreement (Westrock Coffee Holdings, LLC)