Incentive Bonus Program definition
Examples of Incentive Bonus Program in a sentence
In the event Section 16 Officers receive non-equity incentive plan or similar annual bonus compensation, employees covered by this Agreement shall be paid under this Incentive Bonus Program as follows: for every $1.00 of non-equity incentive plan or similar bonus compensation paid to all Section 16 Officers, $2.00 shall be made available for distribution to employees covered by this Agreement in the form of a one-time bonus payment.
To be eligible for a payment under the Incentive Bonus Program, an employee must work or have been paid for at least one thousand (1,000) hours in the prior calendar year and be employed by the Employer at the time of payout.
In no event, however, shall employees be entitled to more than one (1) payment under this Incentive Bonus Program in any calendar year.
Effective January 1, 2019 and for performance beginning with calendar year 2019, and each year thereafter, employees covered by this Agreement shall be covered by an Incentive Bonus Program.
Any payments triggered under this Incentive Bonus Program shall be made within ninety (90) days of the end of the calendar year.
The triggers for payout under the Incentive Bonus Program shall be the same as those established annually by the Board of Directors for the Section 16 Officers of YRC Worldwide, Inc.
Emergence Incentive Bonus Program as set forth in Attachment I hereto.
Executive will be entitled to receive incentive compensation based on the performance of the Executive and the Company in accordance with and subject to the terms and conditions of the Management Incentive Bonus Program of the Company.
Executive shall be entitled to participate in the Company's Key Employee Cash Incentive Bonus Program, and any successor annual bonus plan, the terms and conditions of which shall be established by the Board in its sole discretion from time to time.
In the event the Board of Directors foregoes a non-equity incentive plan or similar bonus program for Section 16 Officers for a given year and decides instead to establish an equity-based program for Section 16 Officers for a given year, a payout of $750 under this Incentive Bonus Program shall be triggered for bargaining unit employees when the Section 16 Officers’ right to the equity triggers (for example, upon the attainment of a particular stock price).