Additional Incentive Compensation definition

Additional Incentive Compensation as defined in Section 3.2(b).
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Additional Incentive Compensation. ("Special Bonus") for achieving 110% of special bonus goal is $30,000 per year or $7,500 per quarter. Special Bonus goals will be pre-established quarterly to drive varying areas of focus and critical financial goals. Such Special Bonuses will be paid only when the Company overachieves plan goals. (E.g., such Special Bonuses could be paid upon making 110% or greater of quarterly goals such as for: operating income; professional services revenue; booking margins; or reduction in selling and general administrative costs.)
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Additional Incentive Compensation. The Company recognizes Executive's area of responsibility as a strategically critical one for its future growth. Therefore, as additional incentive for Executive to remain in the employ of the Company during the Term and to use his best efforts to enhance the value of the Company during the Term, if Executive is in the employ of the Company on any December 31 occurring during the Term, then Executive shall receive as additional compensation a single lump-sum cash payment, as soon as reasonably practicable following any such December 31, equal to $385,616.85 following December 31, 1999, $360,738.34 following December 31, 2000, and $335,859.84 following December 31, 2001. Any amounts paid to Executive under this Section 3(d) shall not be included as "Compensation" for purposes of the Company's Retirement and Savings Plans.
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Examples of Additional Incentive Compensation in a sentence

  • The Additional Incentive Compensation discussed in Sections 4.2(a)(i) and 4.2(a)(ii) of this Agreement shall be in lieu of all other royalties and percentage payments to which ▇▇.

  • In exchange for Immunomedics’ agreement to provide the Additional Incentive Compensation detailed in Sections 4.2(a)(i), 4.2(a)(ii) and 4.2(b) of this Agreement, ▇▇.

  • If the Initial Employment Period or Renewal Employment Period (if any) is terminated because of the Executive's death, the Executive will be entitled to receive his Salary through the date of his death, and that part of the Incentive Compensation or Additional Incentive Compensation, if any, for the Fiscal Year during which his death occurs, prorated to the date on which his death occurs.

  • The Additional Incentive Compensation shall be paid at the closing of the acquisition or disposition of any such business operation.

  • If the Executive terminates the Employment Period For Good Reason, the Employer will pay the Executive (i) his Salary for the remainder of the calendar month in which such termination is effective and for six months thereafter, and (ii) that portion of the Executive's Incentive Compensation or Additional Incentive Compensation, if any, for the Fiscal Year during which the termination is effective, prorated through the date of the event which gave rise to the cause of termination.

  • The Additional Incentive Compensation will be paid at the closing of any such transaction.

  • If the Employer terminates the Employment Period For Cause, the Executive will be entitled to receive his Salary only through the date of the event or failure which gave rise to such termination, but he will not be entitled to any Incentive Compensation or Additional Incentive Compensation for the Fiscal Year during which such termination occurs or any subsequent Fiscal Year.

  • If the Board and the Manager are unable to agree upon the amount of Additional Incentive Compensation, the Additional Incentive Compensation amount will be determined by arbitration in Miami, Florida in accordance with the rules of the American Arbitration Association, which determination will be final.

  • The amount of any Additional Incentive Compensation will be determined through good faith negotiations between the Board and the Manager.

  • Buyer may set-off any amount to which it may be entitled from ▇▇▇▇▇▇▇ under the Stock Purchase Agreement or this Employment Agreement against Incentive Compensation and Additional Incentive Compensation upon notice to ▇▇▇▇▇▇▇ specifying in reasonable detail the basis for such set-off.


More Definitions of Additional Incentive Compensation

Additional Incentive Compensation. The Company recognizes Executive's area of responsibility as a strategically critical one for its future growth. Therefore, as additional incentive for Executive to remain in the employ of the Company during the Term and to use his best efforts to enhance the value of the Company during the Term, if Executive is in the employ of the Company on any December 31 occurring during the Term, then Executive shall receive as additional compensation a single lump_sum cash payment, as soon as reasonably practicable following any such December 31, if performance of the Executive's business unit (with such business unit to be defined by mutual agreement between the parties) during the entire calendar year ending on any such December 31 ("Measurement Period") satisfies one of the following: (i) for Threshold Performance, a total payment of $100,000; (ii) for Target Performance, the $100,000 from (i) above and an additional $133,333, for a total payment of $233,333; or (iii) for Opportunity Performance, the $100,000 and $133,333 from (i) and (ii) above, respectively, and an additional $100,000, for a total payment of $333,333.
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Additional Incentive Compensation means the amount of any award granted to a Participant by the Plan Committee.
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