Bonuses; Incentive Compensation. In addition to Executive’s Base Salary, Executive shall be entitled to any cash or equity-based incentive compensation and bonuses to the extent earned pursuant to any plan or arrangement of the Bank or BFC in which Executive is eligible to participate during the Employment Period, or to such other extent as the Board or its Human Resources Committee may determine in its discretion to award to Executive.
Bonuses; Incentive Compensation. For each fiscal year during the Term of Employment, the Executive shall be eligible to receive additional compensation (the “Incentive Compensation”) of up to 225% of Base Salary, based on achievement of performance criteria. As used herein, the term “Incentive Compensation” shall include the portion of any annual incentive compensation award that is earned by the Executive in respect of a fiscal year (including the portion of any such award that is deferred by the Executive), but such term shall not include any Company “matching” contributions with respect to the deferred portion of any annual bonus award. The performance criteria for fiscal year 2006 have been established by a committee of the Board and provided to the Executive. The performance criteria for the remaining fiscal years during the Term of Employment shall be established each year within 90 days of the beginning of the applicable fiscal year by a committee of the Board.
Bonuses; Incentive Compensation. (a) The Employee shall be eligible to receive, at the sole discretion of the Board, an annual bonus (the “MIP Bonus”) up to a maximum amount equal to 50% of the Employee’s annual base salary upon the achievement of certain milestones as set forth in an annual Management Incentive Plan, to be mutually agreed upon and attached hereto upon Board approval (the “Management Incentive Plan”). The specific annual milestones will be set each year by the Board following consultation with the Employee. Notwithstanding the foregoing, the Employee shall not be eligible to receive the MIP Bonus if the Company has not achieved pre-tax earnings for that applicable fiscal year.
Bonuses; Incentive Compensation. For each fiscal year during the Term of Employment, the Executive shall be eligible to receive additional compensation (the “Incentive Compensation”) of up to 225% of Base Salary, based on achievement of performance criteria. The performance criteria for fiscal year 2006 has been established by a committee of the Board and provided to the Executive. The performance criteria for the remaining fiscal years during the Term of Employment shall be established each year within 90 days of the beginning of the applicable fiscal year by a committee of the Board.
Bonuses; Incentive Compensation. Upon commencement of employment with the Company, Executive shall receive a one-time bonus payment of $40,000. As an executive officer of the Company, Executive will be eligible to participate in the Company's Incentive Compensation Plan (the "Incentive Plan"), which shall be jointly developed by Executive and the Compensation Committee. Under the Incentive Plan, Executive will be eligible to receive annual incentive compensation in an amount of not less than 50% of his current Base Compensation, including any adjustments thereto. Pursuant to the Incentive Plan, the Compensation Committee will annually establish both the Company-wide goal and individual target awards. Notwithstanding the foregoing, payment of bonuses under the Incentive Plan for any year is dependent upon Executive's employment with the Company at the end of such calendar year.
Bonuses; Incentive Compensation. (a) The Employee shall be eligible to receive, at the sole discretion of the Board, an annual bonus (the “MIP Bonus”) up to a maximum amount equal to fifty percent (50%) of the Employee’s annual base salary upon the achievement of certain milestones as set forth in an annual Management Incentive Plan, to be mutually agreed upon (the “Management Incentive Plan”). Additional milestones may be established to increase the MIP Bonus to a maximum amount equal to one hundred percent (100%) of the Employee’s annual base salary. The specific annual milestones will be set each year by the Board following consultation with the Employee. Notwithstanding the foregoing, unless otherwise waived by the Board, the Employee shall not be eligible to receive the MIP Bonus if the Company has not achieved pre-tax earnings for that applicable fiscal year. Any MIP Bonus awarded to the Employee shall be paid by the fifteenth (15th) day of the third (3rd) month following the close of the calendar year for which such bonus is earned or as soon as administratively practicable thereafter, but in no event shall such payment be made prior to the first (1st) business day in January in the calendar year immediately following the calendar year for which that bonus is earned or after April 30 of that calendar year.
Bonuses; Incentive Compensation. Beginning in fiscal 2003, the Employee shall be eligible to receive an annual bonus (the “MIP Bonus”) up to a maximum amount equal to 40% of the Employee’s annual base salary upon the achievement of certain milestones as set forth in an annual Management Incentive Plan. The specific annual milestones will be set each year by the Compensation Committee of the Board of Directors.
Bonuses; Incentive Compensation. The Employee shall be eligible to receive an annual bonus (the “MIP Bonus”) up to a maximum amount equal to 45% of the Employee’s annual base salary upon the achievement of certain milestones as set forth in an annual Management Incentive Plan. Additional milestones may be established to increase the MIP Bonus to a maximum amount equal to 90% of the Employee’s annual base salary. The specific annual milestones will be set each year by the Compensation Committee of the Board of Directors. Any MIP Bonus awarded to the Employee shall be paid by the 15th day of the third month following the close of the calendar year for which such bonus is earned or as soon as administratively practicable thereafter, but in no event shall such payment be made prior to the first business day in January in the calendar year immediately following the calendar year for which that bonus is earned or after April 30 of that calendar year.
Bonuses; Incentive Compensation. The Company shall not make any bonus payments in 2008 to its senior management, nor issue any bonus payments to such persons with respect to the Company’s financial performance for the fiscal year ended 31 December, 2008; provided, that, the Board of Directors of the Company may, with the Purchasers’ prior written consent, provide equity incentive compensation to senior management in lieu of bonuses of any other kind for the fiscal year ended December 31, 2008.
Bonuses; Incentive Compensation. Beginning in fiscal year 2008, the Employee shall be eligible to receive an annual bonus (the “MIP Bonus”) up to an amount equal to forty percent (40%) of the Employee’s annual base salary upon the achievement of certain milestones as set forth in an annual Management Incentive Plan. Additional milestones may be established to increase the MIP bonus to a maximum amount equal to eighty percent (80%) of the Employee’s annual base salary. The specific annual milestones will be set each year by the Compensation Committee of the Board (the “Compensation Committee”). MIP Bonus payments are subject to approval by the Compensation Committee and shall be pro-rated in the year of hire. The Employee must be an active, full-time employee on the date payment is made to be eligible. Any MIP Bonus awarded to the Employee shall be paid by the 15th day of the third month following the close of the calendar year for which such bonus is earned or as soon as administratively practicable thereafter, but in no event shall such payment be made prior to the first business day in January in the calendar year immediately following the calendar year for which that bonus is earned or after April 30 of that calendar year.
