Management Bonus Program definition

Management Bonus Program means the bonus program established by Holdings pursuant to Section 2.3.
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Management Bonus Program. You are eligible to participate in the annual management bonus program. The management bonus program is defined by the CEO and Board of Directors. There is no guaranteed payout under the management bonus program. Your target bonus is 45%. In its discretion, the Board of Directors may choose to fund a bonus below that amount or above that amount depending on company and individual performance. The exact bonus payment will be determined at the sole discretion of the Board of Directors.
Sample 1
Management Bonus Program. You are eligible to participate in the management bonus program. The management bonus program is defined by the CEO and Board of Directors. There is no guaranteed payout under the management bonus program. The management bonus program we anticipate to be in place for 2005 is as follows: If the company meets the budget and key objectives for 2005: You could receive up to 35% of your base salary If the company meets the “stretch” budget goals and objectives for 2005: You could receive up to 45% of your base salary If the company meets the “Home run” budget goals and objectives for 2005: You could receive up to 60% of your base salary. The exact bonus payment will be determined at the sole discretion of the board
Sample 1

Examples of Management Bonus Program in a sentence

  • If Employee shall die while employed by the Company both prior to termination of employment and during the effective term of this Agreement, all Employee's rights under this Agreement shall terminate with the payment of that portion of Base Salary as has accrued but remains unpaid and a prorated amount of targeted bonus under the Company's Management Bonus Program through the month in which his death occurs, plus three additional months of the fixed salary and targeted bonus.

  • You shall participate in the Management Bonus Program as approved by the Board of Directors on January 19, 2005, and as amended by the Board of Directors on November 9, 2005.

  • If Employee shall die while employed by the Company both prior to termination of employment and during the effective term of this Agreement, all Employee's rights under this Agreement shall terminate with the payment of such amounts of annual Base Salary as have accrued but remain unpaid and a prorated amount of targeted bonus under the Company's Management Bonus Program through the month in which his death occurs, plus three additional months of the fixed salary and targeted bonus.

  • On or before Employee's last day of employment with the Company, the Company shall pay in a lump sum to Employee as compensation for services rendered to the Company a cash amount equal to one-half the amount of Employee's annual Base Salary and the greater of (x) one-half the target bonus under the Management Bonus Program as in effect immediately prior to his date of termination or (y) the amount of the bonus under the Management Bonus Program to which he is entitled but which remains unpaid.

  • Executive Management Committee's Management Bonus Program for such year, or under any other management incentive plan or program in effect in such year, as if 100% of all objectives provided for thereunder had been met for that year (the "Vested Bonus Amount").

  • For purposes of this Agreement, the term "target ------ bonus" shall mean that percentage of the Employee's base salary that is ----- prescribed by the Company under its Management Bonus Program as the percentage of such base salary payable to the Company as a bonus if the Company pays bonuses at one-hundred percent (100%) of its operating plan.

  • The Executive shall be entitled to receive all benefits of employment generally available to the Company’s other executive employees when and as such benefits, if any, become available and the Executive becomes eligible for them, including any medical, dental, life and disability insurance benefits, paid time off benefits, long-term incentive plan, stock option plan, pension plan and/or profit-sharing plan; provided that the Executive shall not participate in the Senior Management Bonus Program.

  • The Employee shall be entitled to a benefits package consisting of: (i) four (4) weeks paid annual vacation and (ii) such other employee benefits programs as may be offered by the Company to other employees, provided that he shall not be entitled to participate in any incentive bonus program adopted for non-management level employees during the time the Management Bonus Program is in effect.

  • If Employee shall die while employed by the Company both prior to termination of employment and during the effective Term of this Agreement, all Employee's rights under this Agreement shall terminate with the payment of such amounts of annual Base Salary as have accrued but remain unpaid and a prorated amount of targeted bonus under the Company's Management Bonus Program through the month in which his death occurs, plus three additional months of the fixed salary and targeted bonus.

  • Company or ExpressJet shall establish a management bonus program (the "Management Bonus Program") for the fiscal year beginning on January 1, 2002, subject to terms and conditions to be determined in the sole discretion of the Board of Directors or the Human Resources Committee of the Board of Directors.


More Definitions of Management Bonus Program

Management Bonus Program is defined on page 26 of this Agreement. (jj) "Material Adverse Effect" is defined on page 3 of this Agreement. (kk) "Multiemployer Plan" is defined on page 16 of this Agreement. (ll) "New Shares" is defined on page 32 of this Agreement. (mm) "November Balance Sheet" is defined on page 4 of this Agreement. (nn) "Parent Financial Statements" is defined on page 23 of this Agreement. (oo) "Partnership Authorizations" is defined on page 13 of this Agreement. (pp) "Partnership Employee Plan" is defined on page 15 of this Agreement. (qq) "Partnership Financials" is defined on page 4 of this Agreement. (rr) "Partnership Interests" is defined on page 1 of this Agreement. (ss) "Pension Plan" is defined on page 16 of this Agreement. (tt) "Person" shall mean and include an individual, a partnership, a joint venture, a corporation, a limited liability corporation or partnership, a trust, an unincorporated organization and a government or other department or agency thereof. (uu) "Purchase Price" is defined on page 2 of this Agreement. (vv) "Returns" is defined on page 7 of this Agreement. (ww) "Rule 145" is defined on page 25 of this Agreement. (xx) "SEC Documents" is defined on page 21 of this Agreement. (yy) "Securities Act" is defined on page 13 of this Agreement.
Sample 1
Management Bonus Program means the "Rand Acquisition Corp. Management Bonus Program" established on or before the Closing Date for specified senior management of the Company and its Subsidiaries, in substantially the form of Exhibit 11 hereto.
Sample 1

Related to Management Bonus Program

  • Bonus Plan means the Company’s management incentive plan or such other annual bonus plan in existence at the applicable time.

  • Performance Bonus means the performance bonus in respect of each Class payable to the General Partner by the Partnership which will be equal to 20% of the product of: (a) the number of Units of that Class outstanding on the Performance Bonus Date; and (b) the amount by which the Net Asset Value per Unit of that Class on the Performance Bonus Date (prior to giving effect to the Performance Bonus) plus the aggregate value of all distributions per Unit of that Class during the Performance Bonus Term exceeds $25.00.

  • Bonus means the bonus described in the Section 2.3.

  • Incentive Management Fee shall have the meaning set forth in Section 9.2(e) hereof.

  • Annual Bonus shall have the meaning set forth in Section 4(b) below.

  • STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • MIP has the meaning set forth in Section 3(b) of the Agreement.

  • Incentive Compensation Plans means annual incentive compensation plans and long-term incentive compensation plans of the Company, which long-term incentive compensation plans may include plans offering stock options, restricted stock and other long-term incentive compensation.

  • Bonus Pool means the pool of funds available for distribution to Participants. Subject to the terms of the Plan, the Committee establishes the Bonus Pool for each Performance Period.

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Managing Member for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

  • Management Incentive Plan means the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Target Bonus Amount means Executive’s target annual bonus amount in effect at the time of Executive’s Qualifying Termination (disregarding any decrease in such target annual bonus amount that constitutes a Good Reason event).

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

  • Incentive Pay means an annual amount equal to the aggregate annual bonus, in addition to Base Pay, made or to be made in regard to services rendered in any calendar year or performance period pursuant to any bonus plan of the Company.

  • Bonus Amount means the greater of (i) the average annual incentive bonus earned by Executive from the Company (or its affiliates) during the last three (3) completed fiscal years of the Company immediately preceding Executive’s Date of Termination (annualized in the event Executive was not employed by the Company (or its affiliates) for the whole of any such fiscal year), and (ii) the Executive’s target annual incentive bonus for the year in which the Date of Termination occurs.

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Target Bonus shall have the meaning set forth in Section 4(b) hereof.

  • Compensation Committee means the Compensation Committee of the Board.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • Bonus Payments means that portion of the bonus payments received by the

  • Performance Compensation Award means any Award designated by the Committee as a Performance Compensation Award pursuant to Section 11 of the Plan.

  • Bonus Payment means a cash payment in an amount equal to the sum of (i) all Excise Taxes payable by the Executive, plus (ii) all additional Excise Taxes and federal or state income taxes to the extent such taxes are imposed in respect of the Bonus Payment, such that the Executive shall be in the same after-tax position and shall have received the same benefits that he would have received if the Excise Taxes had not been imposed. For purposes of calculating any income taxes attributable to the Bonus Payment, the Executive shall be deemed for all purposes to be paying income taxes at the highest marginal federal income tax rate, taking into account any applicable surtaxes and other generally applicable taxes which have the effect of increasing the marginal federal income tax rate and, if applicable, at the highest marginal state income tax rate, to which the Bonus Payment and the Executive are subject. An example of the calculation of the Bonus Payment is set forth below. Assume that the Excise Tax rate is 20%, the highest federal marginal income tax rate is 40% and the Executive is not subject to state income taxes. Further assume that the Executive has received an excess parachute payment in the amount of $200,000, on which $40,000 ($200,000 x 20%) in Excise Taxes are payable. The amount of the required Bonus Payment is thus computed to be $100,000, i.e., the Bonus Payment of $100,000, less additional Excise Taxes on the Bonus Payment of $20,000 (i.e., 20% x $100,000) and income taxes of $40,000 (i.e., 40% x $100,000), yields $40,000, the amount of the Excise Taxes payable in respect of the original excess parachute payment.