Quarterly Performance Bonus Sample Clauses

Quarterly Performance Bonus. The Company shall pay the Executive a quarterly bonus (the “Quarterly Performance Bonus”) during the term for each three-month period during the Term, commencing with the quarter ending September 30, 2011. The Quarterly Performance Bonus shall equal 5% of the Company’s earnings before interest, taxes, depreciation and amortization (“EBITDA”) for the applicable quarter. The Quarterly Performance Bonus will be paid on or before the 45th day following the applicable quarter. Any Quarterly Performance Bonus payment will be subject to repayment if there are subsequent adjustments to the financial statements used in determining the Quarterly Performance Bonus.
Sample 1Sample 2
AutoNDA by SimpleDocs
Quarterly Performance Bonus. Executive shall be eligible to receive a quarterly bonus of up to Sixty-Two Thousand Five Hundred Dollars and Zero cents ($62,500.00) based on Executive’s individual performance in accomplishing certain key goals/milestones (e.g., successful attainment of major capital projects, achievement of certain operational and safety metrics, etc.) established by the Board in its sole discretion and communicated to Executive in advance of each quarter.
Sample 1
Quarterly Performance Bonus. The Quarterly Performance Bonus is calculated by multiplying the employee’s Quarterly Target Performance Bonus (dollar amount) by the Quarterly Company Performance Factor and the Quarterly Personal Performance Factor. The Quarterly Company Performance Factor is determined based on the Company’s achievement of quarterly targets for client invoicing (80%) and expenses (20%), and may be modified upward or downward based on achievement of client satisfaction targets. Quarterly Personal Performance Factor is a percentage determined at the discretion of the employee’s manager (and approved or modified by senior management) based on the employee’s achievement of individual goals and objectives, and overall contribution to the Company’s success. Quarterly Performance Bonus shall be paid on according to the following schedule: QI Quarterly Bonus (covering the period January 1 through March 31) shall be paid on or before June 30; Q2 Quarterly Bonus (covering the period April 1 through June 30) shall be paid on or before September 30; Q3 Quarterly Bonus (covering the period July 1 through September 30) shall be paid on or before December 31; and Q4 Quarterly Bonus (covering the period October 1 through December 31) shall be paid on or before March 15 of the following year. January 1, 2013, for those employees eligible to receive a Quarterly Performance Bonus, eligibility begins on the employee’s start of employment and is pro-rated in the employee’s first calendar quarter. Thereafter, to be eligible for the Quarterly Performance Bonus in a given calendar quarter, the employee must be employed through the last day of the calendar quarter in question. The Quarterly Performance Bonus shall be pro-rated to account for any extended absence (meaning more than 5 contiguous days, excluding approved PTO) during the applicable bonus period, pro-rated based on a 365-day year. The employee shall not be eligible for any Quarterly Performance Bonus for any quarter in which one or more of the following conditions exists: (a) employee’s employment ends before the completion of a given calendar quarter; (b) the Quarterly Company Performance Factor is less than 50%; (c) the employee was not in good standing, including, but not limited to, subject to a Performance Improvement Plan; or (d) the employee’s Quarterly Personal Performance Factor is less than 70%.
Sample 1
Quarterly Performance Bonus. In recognition of the extra duties and responsibilities on Employee in dealing with the Investors under the Purchase Agreement and the holders of the Company's Class A and Class B Subordinated Promissory Notes, Employee shall be entitled to a quarterly bonus in the amount set forth on the Benefit Schedule in each calendar quarter in which the Company makes all required payments of interest due on the Company's Class A and Class B Subordinated Promissory Notes, payable on or before the last day of each calendar quarter.
Sample 1
Quarterly Performance Bonus. The Employee shall be eligible to receive a cash bonus, on a calendar quarterly basis, based on the Employee's achievement of specified goals and criteria for the Employer. These goals and criteria shall be developed (and periodically updated as deemed appropriate) by the Compensation Committee (the "Committee") of the Board in consultation with the Employee. Such goals and criteria, as the same exist from time to time, shall be in writing and attached to and made a part of this Agreement (the "Bonus Plan"). Unless provided otherwise in any particular Bonus Plan, the Committee shall determine whether the Employee has achieved the goals and criteria for the applicable quarter and, if so, the amount of the quarterly bonus to be paid to the Employee, as soon as practical after the operating and financial results of the Employer for the relevant quarter are made known to the Board. Any bonus so determined by the Committee will vest in the favor of the Employee as of the last day of the quarter to which such bonus relates. Each quarterly cash bonus shall be paid to the Employee by the Employer within a reasonable period after the Committee's final determination. For purposes of this Section 3(b), the first calendar quarter to be considered for a bonus payment shall cover the months of October, November and December 2000 (the "First Quarter") (and thereafter, every calendar quarter during the Term). The amount of the bonus payable to the Employee for the First Quarter shall be $10,000, and the amount of all subsequent quarterly cash bonus (assuming the applicable goals and criteria are satisfied by the Employer) shall not be less than $10,000.
Sample 1
Quarterly Performance Bonus. Employee shall receive a performance bonus (the "Bonus") of up to a maximum of twenty percent (20%) of Employee's fixed annual compensation as defined in Section 2.1. The Bonus as defined in this section shall be calculated and paid to Employee at the end of each quarter following the Effective Date of this Agreement and shall be based on Employees' successful completion of performance criteria established by VISH's Chief Financial Officer. Fifty percent (50%) of said bonus shall be awarded if Employee successfully meets all approved budgets for each and every quarter; Employee shall become entitled to receive an additional fifty percent (50%) by meeting or exceeding quarterly revenue targets set in the discretion of VISH.
Sample 1

Related to Quarterly Performance Bonus

  • Annual Performance Bonus In each calendar year of the Term of Employment, Executive shall be eligible to receive an annual incentive bonus (the “Annual Bonus”) payable in cash, pursuant to the performance criteria and targets established and administered by the Board (or a committee of directors to whom such responsibility has been delegated by the Board), with a target Annual Bonus of at least 100% of his Base Salary. The Annual Bonus payable to Executive each year shall be determined and payable as soon as practicable after year-end for such year (but no later than March 15th). The Executive’s cash bonus for the stub period of 2017 will be determined in the reasonable business judgment of the Board or another committee of directors to whom such responsibility has been delegated by the Board. To be entitled to receive any Annual Bonus, except as otherwise provided in Sections 5(c) and 5(d), Executive must remain employed through the last day of the calendar year to which the Annual Bonus relates.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Performance Pay In accordance with Section 8 of the General Appropriations Act for Fiscal Year 2020-2021, contingent upon the availability of funds and at the Agency Head’s discretion, each agency is authorized to grant merit pay increases based on the employee’s exemplary performance, as evidenced by a performance evaluation conducted pursuant to Rule 60L-35, Florida Administrative Code.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365);

  • 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.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

Time is Money Join Law Insider Premium to draft better contracts faster.