Annual Objectives definition

Annual Objectives as established each year by the Board of Directors (“Board”) for all optionees. Annual Objectives shall normally be based upon achievement of budgeted EBITDA and Free Cash Flow for the fiscal year.
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Annual Objectives as established each year by the Board of Directors (“Board”) provided, however, that if Grantee is hired after January 1st, 2006, then in a fiscal year where the Annual Objectives are met, the portion of the Performance-Based Options allocated to the fiscal year in which Grantee was hired shall vest on a pro-rata basis for such part of the year that Grantee was actively employed. Annual Objectives for fiscal year 2005 are set forth in Annex A hereto. Annual Objectives shall normally be based upon achievement of budgeted EBITDA and Free Cash Flow for the fiscal year.
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Examples of Annual Objectives in a sentence

  • Annual Objectives shall normally be based upon achievement of budgeted EBITDA and Free Cash Flow for the fiscal year.

  • The Board may, in its sole discretion, make appropriate adjustments to Annual Objectives for changes in, or in the timing of, major capital growth projects, acquisitions, mergers and joint ventures, and quality of earnings adjustments, or other such factors as determined in good faith by the Board.

  • The Board shall, in its sole discretion, determine whether the Annual Objectives have been met or exceeded.

  • Where the Annual Objectives for such fiscal year are not met, the portion of the Performance-Based Options allocated to such fiscal year shall be forfeited, unless the Board in its sole discretion determines that all or a portion of the Performance-Based Option allocated to such fiscal year shall vest upon meeting further conditions as defined by the Board.

  • The Pro Rata Share of the Annual Bonus (A) will be equal to the product of (1) the Annual Bonus, calculated based on the actual achievement, as certified by the Compensation and Pension Committee of Employer’s Board, of the Annual Objectives, and (2) a fraction equal to the number of full months in such year prior to the Date of Termination over 12, and (B) will be paid to the Employee within the first 2-1/2 months after the close of calendar year in which the Date of Termination occurs.

  • Employee’s Annual Objectives shall be jointly agreed upon between Employee and the CEO as shall any modifications thereto, but such Annual Objectives and any modifications thereto shall be subject to approval by the Compensation Committee of the Board of Directors and the Board of Directors.

  • For a given fiscal year, where the Annual Objectives are met, the portion of the Performance-Based Options allocated to such fiscal year shall vest on April 1st of the subsequent fiscal year, provided that no Termination of Employment of the Grantee (other than voluntary termination at age 65 or older (“Retirement”), death or Disability) has occurred prior to April 1st of such subsequent fiscal year.

  • In the event of death, Disability or Retirement, for a given fiscal year where the Annual Objectives are met, the portion of the Performance-Based Options allocated to the fiscal year in which such event occurs shall vest on a pro-rata basis for such part of that year that the Grantee is actively employed.

  • Prior to the end of each year, the Company and Employee will use their best efforts to agree to one or more other Annual Objectives and the percentage of the Annual Bonus allocable to each Annual Objective which if achieved (as determined by the Board in its sole but reasonable discretion), will entitle Employee to receive that portion of the Annual Bonus not previously allocated to other Annual Objectives for that year.

  • If all Annual Objectives are achieved, the Annual Bonus shall be _______ of the Employee's Base Salary paid to the Employee during each calendar ------- year during the term of the Employee's employment hereunder (the "Target Bonus").