Performance-Related Bonus. During the term of this Agreement, the Executive shall be eligible to receive a performance-related bonus determined annually by the Board based on performance goals set annually by the Board (the “Performance-Related Bonus”); provided, however, that the Executive is only entitled to the Performance-Related Bonus if the Bank has a CAMELS rating of 1 or 2 for the year to which the Performance-Related Bonus relates. The Performance-Related Bonus shall be subject to all applicable withholdings and paid to the Executive at the time bonuses are generally paid to other similarly-situated executives in accordance with the Company’s policies and practices as set by the Board but in no event later than the 15th day of the third month following the end of the calendar year to which the Performance-Related Bonus relates.
Performance-Related Bonus. Executive will be eligible to receive the Performance-related Bonus with a target opportunity equal to the Bonus Target Amount, subject to those terms and conditions as may be established by Company. The Board or the Committee will determine the amount of the bonus, in its reasonable discretion, utilizing financial information reviewed or audited by Company’s independent auditors. Company will pay the bonus in accordance with its policies in place from time to time, and the bonus will be subject to all payroll and income tax withholdings and other authorized deductions.
Performance-Related Bonus. Executive’s performance-related annual cash bonus, calculated in a manner consistent with the terms of Company’s performance-related bonus plan and this Agreement.
Performance-Related Bonus. During the term of this Agreement, Executive shall be eligible to receive a Performance-Related Bonus calculated on an annual basis. If this Agreement terminates for any reason other than the reasons stated in subsections A, D or E of Section 3 of this Agreement, then Executive will receive a pro rated portion of the Performance-Related Bonus based upon the portion of the calendar or fiscal year of the Performance-Related Bonus during which the Executive was employed. If this Agreement terminates for any of the reasons stated in subsections A, D or E of Section 3 of this Agreement, then Executive will not receive any Performance-Related Bonus for the calendar or fiscal year during which the Executive's termination occurs. The Performance-Related Bonus shall be subject to all applicable withholdings and will be paid no later than one hundred fifteen (115) days after the end of such calendar or fiscal year. The Performance-Related Bonus will be computed in the sole and absolute discretion of the Company based upon the Company's audited financial statements.
Performance-Related Bonus. The Executive will be eligible for a performance bonus of up to 70% of his annual salary (and pro rata for any lesser period) paid annually no later than 31 March based on individual and Company objectives to be set by the Company. Any bonus payment is entirely at the discretion of the Board. The Executive must be in the continued employment of the Company at the time of the payment of the annual bonus to be eligible to receive any bonus payment. In the event the Executive does not assume the position of President and CEO in Amarin Corporation plc on the CEO Start Date, the target bonus will be reduced to 40% of his annual salary as of the CEO Start Date.
Performance-Related Bonus. Executive shall be eligible to receive ------------------------- a performance-related bonus of up to $40,000 per year, subject to all standard employment deductions, based on the criteria set forth on Exhibit A hereto. ---------
Performance-Related Bonus. Executive shall be eligible to receive a performance-related bonus of $155,000.00 per year, based on the criteria attached, Exhibit A, and subject to all standard employment deductions.
Performance-Related Bonus. For Fiscal Years 2004 and 2005, Executive shall be eligible to receive a performance-related bonus of up to $350,000.00 per year and subject to all standard employment deductions. $ 200,000.00 of such bonus shall be based upon Executive's areas of responsibility such criteria to be provided after Consultation with Executive, but determined in the sole discretion of Company as determined from time to time by the Compensation Committee of the Board of Directors. Bonuses shall be paid at the same time as other Executives receive their bonus, In addition to the above, Executive shall receive a one-time bonus of $112,000.00 in 2004, which shall be paid in 2 equal installments of $56,000.00 on March 31, 2004 and June 30, 2004. Executive must be an employee in good standing by Company on the date of any bonus payment to receive such bonus, except the bonus earned for the year 2004 and 2005, for which the Executive must be employed in good standing on December 31, 2004 and December 31, 2005, respectively. These bonuses are in lieu of any other bonuses Executive may have been entitled to receive, including any bonus for 2003. Thereafter, the bonus shall be paid as determined by the Company.
Performance-Related Bonus. This paragraph supersedes Paragraph 2.B. of the First Modification and Paragraph 3.B. of the Agreement. For fiscal years 2003 and 2004, Executive shall be eligible to receive a performance-related bonus equal to 1.5% of the pre-tax operating income (as defined in the Agreement) for the respective year. The bonus amount for 2003 and 2004 shall be paid on or before March 31, 2004 and 2005, respectively; provided, however, that in the event of a termination of Executive's employment, prior to January 1, 2004 or 2005, respectively, by the Company for Cause or by Executive which does not constitute Constructive Termination, or Executive's failure to remain in the position of Chief Executive Officer for the entire 2003 or 2004 fiscal year, respectively, Executive shall forfeit any bonus, accrued or otherwise, for such year. In the event of a termination of Executive's employment, prior to January 1, 2004 or 2005, respectively, by the Company other than for Cause or by Executive which constitutes Constructive Termination, then Executive shall receive the bonus accrued for the period up to the last completed financial quarter preceding such Termination, payable within 30 days of such Termination or if the quarterly audit has not been completed by the Company's auditors, payable within 30 days of the completion of such audit. In no event, however, shall Executive's total compensation for any year (calculated as Base Salary plus performance-related or other cash bonuses) exceed $1,000,000.
Performance-Related Bonus. The Performance-related bonus described in the Agreement shall continue until December 31, 2002. Commencing on January 1, 2003, Executive shall be eligible to receive a performance-related bonus, calculated quarterly, and paid annually on or about the same timing as other executive bonuses are paid, in no event more than ninety (90) days after the end of the Company's fiscal year. The bonus shall have two components and be determined as follows: 1) Executive shall receive 0.25% of the lower of a) the pre-tax operating income, as that term is used in the Agreement (hereinafter "Operating Income") during the quarter or b) the average of the pre-tax Operating Income during the quarter and the preceding three financial quarters; and 2) 2% of the amount by which the pre-tax Operating Income of the quarter exceeds that amount computed in 1) above. Provided, however, the bonus for financial year 2004, shall be paid at the sole discretion of the Board based on, but not limited to Executive's performance in working with the Board to provide for an acceptable succession plan, including hiring of a suitable new Chief Executive Officer, investments made in Company's new products and infrastructure, the status of the Company in its industry and the Company's success in marketing and alliances.
