Executive Performance Bonus Grid definition
Executive Performance Bonus Grid means the criteria established for each fiscal year by the Compensation Committee for all executive officers of the Company that specifies the percentage of each executive’s base salary that is eligible to be paid to such executive as an incentive bonus upon the Company’s achievement of certain profitability thresholds for such fiscal year. In no event shall the amount of Cash Incentive Compensation paid to Executive for any fiscal year exceed two hundred percent (200%) of his target Cash Incentive Compensation for such year. Payment of the Cash Incentive Compensation for each fiscal year will be made in accordance with the general policies and procedures for payment of incentive compensation to senior executive personnel of the Company. For the period from the Effective Date through February 3, 2007 (the last day of the Company’s 2007 fiscal year), the target Cash Incentive Compensation shall be pro-rated at $262,500; provided, that $131,250 of such pro-rated amount (the “Fiscal 2007 Incentive Guarantee”) shall not be subject to performance goals or similar criteria.
Executive Performance Bonus Grid means the criteria established for each fiscal year by the Compensation Committee for all executive officers of the Company that specifies the percentage of each executive's base salary that is eligible to be paid to such executive as an incentive bonus upon the Company's achievement of certain profitability thresholds for such fiscal year.
Examples of Executive Performance Bonus Grid in a sentence
The Executive’s target Cash Incentive Compensation shall be equal to seventy-five percent (75%) of his Base Compensation for each such fiscal year and shall be determined pursuant to the Executive Performance Bonus Grid for such fiscal year.