Bonus; LTIP Incentives Sample Clauses

Bonus; LTIP Incentives. Employee shall receive an annual cash bonus calculated as follows: 1% of annual EBITDA based upon the Company’s business and assets as of the Effective Date and any coal assets acquired after the Effective Date and any non-coal assets acquired after the Effective Date that the parties expressly agree in writing shall be included in the EBITDA calculation, but excluding any non-cash write downs, write ups or write offs. In the event of a merger or similar transaction involving the Employer, the parties will seek to agree on a revision to the calculation of the bonus, and in the absence of such agreement, the bonus will be calculated on the EBITDA earned on the assets of the Employer immediately prior to the merger or similar transaction that would have been used to calculate the bonus if the merger or similar transaction had not occurred. The entitlement to the bonus shall vest monthly and shall be pro-rated for any partial year, and paid the following year when the EBITDA for the year has been calculated and the annual audit completed. For the calendar year 2014, the bonus shall be calculated based upon the Company’s estimate of EBITDA, calculated as provided above, for the period from the Effective Date through December 31, 2014. In addition, for the period in calendar year 2014 prior to the Effective Date, Employee shall receive a bonus equal to the bonus paid (in dollar value) for calendar year 2013, pro-rated for the period from January 1, 2014 through the Effective Date. In addition, Employee shall also be entitled to participate in the Employer’s long term equity incentive plan and other compensation that may be awarded, all on terms and conditions acceptable to Employer’s CEO and Compensation Committee in their sole and absolute discretion. The Employer shall use reasonable efforts to accelerate vesting of the 4,453 options previously granted to Employee plus any awarded units as part of the 2014 bonus, provided that such accelerated vesting shall not result in a tax or other liability against Employer or any of its affiliates.
Sample 1
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Related to Bonus; LTIP Incentives

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • Incentive Bonuses The Employee shall be eligible to be considered for an annual incentive bonus with a target amount equal to 25% of his Base Compensation (the “Annual Target Bonus”). Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board. The determinations of the Board with respect to such bonus shall be final and binding. Any incentive bonus for a fiscal year shall in no event be paid later than 21/2 months after the close of such fiscal year.

  • Performance Incentives Provided that sufficient funds are available from athletics revenue or gifts for the unrestricted use of the Department of Athletics, Athletics Director shall be entitled to receive additional non-salary compensation from the University in the form of the following stated bonuses for increased responsibilities, provided that all varsity sports are in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Athletics Director knew or should have known. [Insert Incentives – See examples below

  • Long-Term Incentive Awards The Executive shall participate in any long-term incentive awards offered to senior executives of the Company, as determined by the Compensation Committee.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Incentive Awards a) The Executive shall participate in the Company's annual incentive plan for senior-level executives as in effect from time to time, subject to the performance standards set by the Compensation Committee. Payment of any annual incentive award shall be made at the same time that such awards are paid to other senior-level executives of the Company. The Executive's annual incentive award target shall be set by the Compensation Committee.

  • Annual Incentive The Employee shall be entitled to receive a percentage of the Employee's Target Incentive for the calendar year in which such termination occurs. Such percentage shall equal a fraction, the numerator of which shall be the number of days in such calendar year up to and including the date of such termination and the denominator of which shall be the number of days in such calendar year. Such amount shall be payable according to the normal practice of the Company with respect to the payment of bonuses.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

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