Common use of Performance Bonus Clause in Contracts

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.030% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDED, HOWEVER, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 4 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

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Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.050% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDED, HOWEVER, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 4 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.1% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDED, HOWEVER, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 4 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.050% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDEDprovided, HOWEVERhowever, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 3 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.200% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDED, HOWEVER, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 2 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.025% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDED, HOWEVER, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 2 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.250% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDED, HOWEVER, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 2 contracts

Samples: Employment Agreement (Annaly Mortgage Management Inc), Employment Agreement (Annaly Mortgage Management Inc)

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Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.250% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDEDprovided, HOWEVERhowever, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 1 contract

Samples: Employment Agreement (Annaly Capital Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.050% of the Book Value of the Company for such fiscal year over (ii) the Executive's ’s Base Salary as of the last day of such fiscal year; PROVIDEDprovided, HOWEVERhowever, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 1 contract

Samples: Employment Agreement (Annaly Capital Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.030% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDEDprovided, HOWEVERhowever, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 1 contract

Samples: Employment Agreement (Annaly Mortgage Management Inc)

Performance Bonus. With respect to each fiscal year, the Executive shall be eligible to receive an amount equal to the sum of: (A) the excess, if any, of (i) 0.0300.043% of the Book Value of the Company for such fiscal year over (ii) the Executive's Base Salary as of the last day of such fiscal year; PROVIDEDprovided, HOWEVERhowever, that the Compensation Committee must approve such amount, plus (B) additional amounts as may be recommended by management and approved by the Compensation Committee (such sum being the "Performance Bonus").

Appears in 1 contract

Samples: Employment Agreement (Annaly Mortgage Management Inc)

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