Second Year Bonus Sample Clauses

Second Year Bonus. Executive shall be eligible to receive a bonus of up to $35,000.00 payable on the next regular paydate following the two year anniversary of the Commencement Date (the “Second Year Bonus”), provided Executive is actively employed in good standing on such date. Seventy percent (70%) of the Second Year Bonus shall be based upon the Company’s determination of whether the Company has achieved certain designated milestones (such milestones to be communicated to Executive in advance of Second Year) and thirty percent (30%) of the Second Year Bonus shall be based upon the Company’s assessment of the Executive’s performance, as determined in the Board’s discretion and judgment.
Sample 1Sample 2Sample 3
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Second Year Bonus. On September 14, 2006, the Employee will receive a bonus (a “Second Year Bonus”) (i) in the amount of $75,000; plus (ii) based upon performance targets established by the Parent’s Board of Directors, within 15 days following the second anniversary of the Agreement, a bonus in an amount equal to (a) 50% of base salary if at least 100% of the performance targets are achieved, (b) 75% of base salary if at least 120% of the performance targets are achieved, and (c) 100% of base salary if at least 135% of the performance targets are achieved. Any Second Year Bonus will be paid 50% in cash and 50% in shares of the Common Stock of the Parent (based on the closing market price of the Common Stock on the second anniversary of this Agreement), subject to withholding from the cash portion for applicable federal and state income and employment taxes. The full portion of the Second Year Bonus payable in cash will be paid in eight consecutive installments corresponding to the Parent’s regular payroll payment dates, beginning with the first payroll date following September 14, 2006. The full portion of the Second Year Bonus payable in Common Stock of the Parent will be payable on October 15, 2006; provided, that in the event the Common Stock portion of the Second Year Bonus is not paid by October 15, 2006, the Employee will have the option to receive the amount due and payable in cash subject to withholding tax, and such amount will be paid in eight consecutive installments corresponding to the Parent’s regular payroll payment dates, beginning with the first payroll date following October 15, 2006.
Sample 1
Second Year Bonus. Based upon performance targets established by the Parent’s Board of Directors, within 30 days following the second anniversary of the Agreement the Employee will receive a bonus in an amount equal to (i) 50% of base salary if at least 100% of the performance targets are achieved, (ii) 60% of base salary if at least 120% of the performance targets are achieved, and (iii) 70% of base salary if at least 135% of the performance targets are achieved. Any such bonus will be paid 50% in cash and 50% in shares of the Common Stock (based on the closing market price of the Common Stock on the second anniversary of this Agreement), subject to withholding from the cash portion for applicable federal and state income and employment taxes.
Sample 1
Second Year Bonus. At the conclusion of the second anniversary of the Employment Agreement, and so long as the Employee remains employed with the Company as of that date and has satisfied the below-identified Performance Target(s), Employee will be deemed to have earned, and the Company will pay to Employee within a reasonable time thereafter, an Incentive Bonus equal to the amounts as stated:
Sample 1
Second Year Bonus. During the second full contract year (i.e., October 27, 2004 through October 26, 2005) of the Agreement, and so long as Executive remains employed by the Company, the Executive shall be paid a bonus in the aggregate amount of 50% of Executive's base annual salary for that contract year in four installments, on the following dates:
Sample 1

Related to Second Year Bonus

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • 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”):

  • 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.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 55 to 59 100% 60 80% 61 60% 62 40% 63 20% 64 0%

  • 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.

  • 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);

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • Incentive Pay (1) For any calendar year in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then:

  • Pro-Rated Bonus Pro Rated Bonus" shall mean, a bonus equal to the product of (i) the bonus Employee did not receive but would have received under Section 1.4(b) if he had remained an employee through the end of the Employment Term, it being understood that the amount of such bonus Employee would have received shall be determined by reference to the average amount of bonus actually awarded to other officers who were at the same or comparable level of responsibility as Employee immediately prior to his termination, and (ii) a fraction, the denominator of which is 365 and the numerator of which is the number of days in the fiscal year being considered through the date of death, determination of disability or notice of termination of employment, whichever is applicable. In the event that a majority of SCI officers do not receive a bonus for the fiscal year being considered, then the Pro Rated Bonus shall not be applicable and Employee shall not be entitled to a Pro Rated Bonus. The Pro Rated Bonus, if any, payable to Employee shall be paid within 90 days after the date that bonuses, if any, are awarded for a majority of SCI officers for the year being considered.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

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