Target Variable Compensation Sample Clauses
The Target Variable Compensation clause defines the specific amount or percentage of compensation an employee is eligible to earn based on performance metrics or achievement of certain goals. Typically, this clause outlines how the target amount is calculated, which performance indicators are used, and the conditions under which the variable compensation is paid out, such as meeting sales targets or project milestones. Its core function is to provide transparency and structure around incentive pay, ensuring both employer and employee understand the expectations and rewards tied to performance.
POPULAR SAMPLE Copied 5 times
Target Variable Compensation. Each year, you will be eligible to earn an annual performance- based variable compensation amount based on the achievement of corporate performance goals established by the Company and subject to approval by the Committee and individual performance goals and objectives, with the target amount for such variable compensation established in the Company's annual executive bonus plan (the “Target Variable Compensation"). For 2024, your Target Variable Compensation shall be 100% of your annual base salary prorated from the Effective Date, subject to the achievement of the corporate and individual performance goals and objectives. Achievement against goals and the actual amount of the Target Variable Compensation earned will be determined by the Company, in its sole discretion, and will be subject to the approval of the Committee. In order to earn and be paid such variable compensation, you must remain an active employee throughout the full-time period for which the Target Variable Compensation is paid, and for which time period the Company and the Committee assesses performance and the related compensation amounts, and you must be employed and in good standing on the date of Target Variable Compensation distribution. Any earned Target Variable Compensation shall be paid within thirty (30) days following its determination and approval by the Committee.
Target Variable Compensation. Each year, you will be eligible to earn an annual performance-based variable compensation amount based on the achievement of corporate performance goals established by the Company and subject to approval by the Committee and individual performance goals and objectives, with the target amount for such variable compensation established in the Company's annual executive bonus plan (the “Target Variable Compensation"). For 2020, your Target Variable Compensation shall be 100% of your annual base salary, subject to the achievement of the corporate and individual performance goals and objectives. Achievement against goals and the actual amount of the Target Variable Compensation earned will be determined by the Company, in its sole discretion, and will be subject to the approval of the Committee. In order to earn and be paid such variable compensation, you must remain an active employee throughout the full-time period for which the Target Variable Compensation is paid, and for which time period the Company and the Committee assesses performance and the related compensation amounts, and you must be employed and in good standing on the date of Target Variable Compensation distribution. Any earned Target Variable Compensation shall be paid within thirty (30) days following its determination and approval by the Committee.
Target Variable Compensation. The Executive shall receive an annual variable salary target of $93,600 (representing 100% performance) (the “Target Variable Compensation”) dependent upon the Company’s performance measured against clearly defined and numerically weighted goals approved by the Board of Directors of the Company twice a year, either prior to or promptly after the six-month time period to which the goals apply. The Target Variable Compensation will be made in two payments per year, subject to standard deductions and withholdings. In order to be eligible to receive each payment of the Target Variable Compensation, Executive must be an active employee of the Company on the date each payment is awarded.
Target Variable Compensation. Each year, Executive will be eligible to earn an annual performance-based variable compensation amount based on the achievement of corporate and individual performance goals established by the Company and subject to approval by the Committee, with the target amount for such variable compensation established in the Company’s annual executive incentive compensation plan (the “Target Variable Compensation”). For 2015, the Target Variable Compensation annualized is two hundred thirty thousand dollars ($230,000.00), the final determination and approval of which shall be subject to the discretion of the Committee. Your 2015 actual bonus target will be prorated based on your actual service period of the year. Achievement against goals and the actual amount of the Target Variable Compensation earned will be determined by the Company, in its sole discretion, subject to the approval of the Committee. Executive must remain an active employee throughout the full time period for which the Target Variable Compensation is paid, and for which time period the Company and the Committee assesses performance and the related compensation amounts, and employed on the date of Target Variable Compensation distribution, in order to earn and be paid any such compensation. Any earned Target Variable Compensation shall be paid within thirty (30) days following its determination and approval by the Committee.
Target Variable Compensation. Each year, you will be eligible to earn an annual performance-based variable compensation amount based on the achievement of corporate performance goals established by the Company and subject to approval by the Committee and individual performance goals and objectives, with the target amount for such variable compensation established in the Company's annual executive bonus plan (the “Target Variable Compensation"). For 2017, subject to the achievement of the corporate and individual performance goals and objectives, you will be eligible to receive up to a Target Variable Compensation amount of Four Hundred Seventy-Five Thousand Dollars ($475,000.00) under the 2017 executive bonus plan, subject to proration based on your actual service period for the year. Achievement against goals and the actual amount of the Target Variable Compensation earned will be determined by the Company, in its sole discretion, and will be subject to the approval of the Committee. In order to earn and be paid such variable compensation, you must remain an active employee throughout the full-time period for which the Target Variable Compensation is paid, and for which time period the Company and the Committee assesses performance and the related compensation amounts, and you must be employed and in good standing on the date of Target Variable Compensation distribution. Any earned Target Variable Compensation shall be paid within thirty (30) days following its determination and approval by the Committee.
Target Variable Compensation. You will be eligible to participate in an annual executive bonus plan (“Bonus Plan”), pursuant to which you may earn a variable compensation amount, subject to the achievement of corporate performance goals and individual performance goals and objectives, each as established by the Board or Committee. For 2024, your annual bonus target under the Bonus Plan (the “Target Bonus”) will be 150% of your Annual Base Salary. The actual bonus amount awarded to you with respect to any year (the “Actual Bonus”) will be determined by the Board or Committee, in its sole discretion, and shall be subject to the terms and conditions of the Bonus Plan and your continued active employment during the performance year and through the date of payment.
Target Variable Compensation. Employee shall receive a quarterly bonus equal to 2% of the gross sales up to $10 million annually and on a calendar basis. Beyond $10 million in annual sales, employee will receive 1% of the amount in excess of $10 million
Target Variable Compensation. Each year, Executive will be eligible to earn an annual performance-based variable compensation amount based on the achievement of corporate and individual performance goals established by the Company and subject to approval by the Committee, with the target amount for such variable compensation established in the Company’s annual executive incentive compensation plan (the “Target Variable Compensation”). For 2012, the Target Variable Compensation amount is one hundred seventy-five thousand dollars ($175,000). Achievement against goals and the actual amount of the Target Variable Compensation earned will be determined by the Company, in its sole discretion, subject to the approval of the Committee. Executive must remain an active employee throughout the full time period for which the Target Variable Compensation is paid, and for which time period the Company and the Committee assesses performance and the related compensation amounts, and employed on the date of Target Variable Compensation distribution, in order to earn and be paid any such compensation. Any earned Target Variable Compensation shall be paid within thirty (30) days following its determination and approval by the Committee. In 2012, the Company shall advance to Executive one hundred thousand dollars ($100,000.00) (“the Advance”) on a quarterly basis, subject to appropriate tax withholdings, the first payment of twenty-five thousand dollars ($25,000,00) to be made in the first payroll period of employment, and each of the following three payments to be made in the first payroll period of each calendar quarter in 2012. The Advance shall reduce Executive’s Target Variable Compensation for 2012, when paid in 2013 following acceptance of the final 2012 audit by the Audit Committee and/or Board, and authorization by the Committee.
Target Variable Compensation. The Executive shall receive an annual variable salary target of $93,600 (representing 100% performance) (the “Target Variable Compensation”) dependent upon the Company’s performance measured against clearly defined and numerically weighted goals approved by the Board of Directors of the Company twice a year, either prior to or promptly after the six-month time period to which the goals apply. The Target Variable Compensation will be made in two payments per year, subject to standard deductions and withholdings. In order to be eligible to receive each payment of the Target Variable Compensation, Executive must be an active employee of the Company on the date each payment is awarded.