Signing and Annual Bonus Sample Clauses

Signing and Annual Bonus. The Company shall pay to Executive a one-time signing bonus of $25,000 (the “Signing Bonus”), payable within thirty (30) days of the Effective Date. The Signing Bonus is subject to the following repayment obligations: as a condition of Executive’s employment with the Company and for receiving the Signing Bonus, Executive agrees that if, at any time during the twelve (12) months following the Effective Date Executive resigns from the Company, then Executive shall repay the Signing Bonus to the Company in full. In all cases, Executive specifically authorizes the Company to deduct all of the Signing Bonus required to be repaid, if any, from Executive’s final payroll check, and to the extent that there is a balance still owed by Executive, Executive will provide payment to the Company of such balance within thirty (30) days of Executive’s separation from service. Executive will also be eligible to earn an annual discretionary bonus (the “Annual Bonus”) with a target amount equal to forty-five percent (45%) of Executive’s then current Base Salary. Ninety percent (90%) of Executive’s target is attributed to Company performance and ten percent (10%) is attributed to individual/team performance. The amount of the Annual Bonus, if any, will be determined in the sole discretion of the Board or a duly constituted committee of the Board and based, in part, on Executive’s performance and the performance of the Company during the calendar year. The Annual Bonus may be greater or lesser than the target bonus amount and may be zero, based upon the achievement of agreed upon corporate and/or individual goals. Executive will become eligible for the Annual Bonus beginning in 2024 (i.e., with respect to Executive’s performance and the performance of the Company during calendar year 2023). The Annual Bonus is not earned until paid and no pro-rated amount will be paid if Executive’s employment terminates for any reason prior to the payment date. The Annual Bonus is not earned until paid and no pro-rated amount will be paid if Executive’s employment terminates for any reason prior to the payment date except as specified in Section 8.
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Signing and Annual Bonus. The Company paid the Executive a one-time signing bonus (the “Signing Bonus”) of $60,000 (less applicable withholding taxes and deductions) payable within 30 days of the Executive’s start date at the Company. The Signing Bonus is subject to the following repayment obligations: as a condition of the Executive’s employment with the Company and for receiving the Signing Bonus, the Executive agrees that if, at any time during the twelve months following the Executive’s first date of employment with the Company, the Executive (a) resigns his employment with the Company, he shall repay the Signing Bonus, on a pro-rata basis based on length of service; or
Sample 1
Signing and Annual Bonus. The Company shall pay Executive a past performance bonus of $50,000 upon execution of this Agreement. For each calendar year of the Employment Term, the Executive shall be eligible to receive an annual bonus (the “Annual Bonus”). However, the decision to provide any Annual Bonus and the amount and terms of any Annual Bonus shall be in the sole and absolute discretion of the Board.
Sample 1
Signing and Annual Bonus. The Company shall pay the Executive a one-time signing bonus (the “Signing Bonus”) in the gross amount of $100,000.00 (less applicable withholding taxes and deductions) payable within 30 days of the Executive’s start date at the Company. The Signing Bonus is subject to the following repayment obligations: as a condition of the Executive’s employment with the Company and for receiving the Signing Bonus, the Executive agrees that if, at any time during the twelve months following the Executive’s first date of employment with the Company, the Executive (a) resigns his employment with the Company without Good Reason, he shall repay the Signing Bonus, on a pro-rata basis based on length of service (e.g., if the Executive were to resign after nine months, he shall repay one-quarter of the Signing Bonus); or (b) the Company terminates the Executive’s employment for Cause, he shall repay the Signing Bonus in-full, and in all cases specifically authorize the Company to deduct all of the Signing Bonus required to be repaid from his last paycheck and to the extent that there is a balance still owed by the Executive, he will provide payment of such balance within thirty days (30) of his last date of employment. The Executive shall be eligible to be considered for an Annual Bonus upon achieving of certain pre-determined performance targets consistent with any Incentive Compensation Plan established by the Compensation Committee (the “Committee”). The Annual Bonus shall be based, in part, on the Executive’s performance. The grant of such a bonus shall be in the sole discretion of the Committee. The maximum bonus amount for which the Executive will be eligible is forty-five percent (45%) of base salary earned for the calendar year, provided that, the Annual Bonus for 2020 shall be seventy-five percent (75%) of a full calendar year Annual Bonus if one is determined to be payable. The Annual Bonus will be earned only after it has been granted by the Committee. The Annual Bonus shall be paid to the Executive following the close of the fiscal year to which it relates, in no event later than March 15th of the calendar year immediately following the calendar year in which it was earned. The Executive must be actively employed by the Company at the time the Committee approves granting of bonuses to be eligible to receive such bonus.
Sample 1
Signing and Annual Bonus. The Company shall pay the Executive a one-time signing bonus (the “Signing Bonus”) of $100,000 (less applicable withholding taxes and deductions) payable within 30 days of the Executive’s start date at the Company. The Signing Bonus is subject to the following repayment obligations: as a condition of the Executive’s employment with the Company and for receiving the Signing Bonus, the Executive agrees that if, at any time during the twelve months following the Executive’s first date of employment with the Company, the Executive (a) resigns his employment with the Company, he shall repay the Signing Bonus, on a pro-rata basis based on length of service; or (b) the Company terminates the Executive’s employment for Cause, he shall repay the Signing Bonus in-full, and in all cases specifically authorize the Company to deduct all of the Signing Bonus required to be repaid from his last paycheck and to the extent that there is a balance still owed by the Executive, he will provide payment of such balance within thirty days (30) of his last date of employment. The Executive shall be eligible to be considered for an Annual Bonus upon achieving of certain pre-determined performance targets consistent with any Incentive Compensation Plan established by the Compensation Committee (the “Committee”). The Annual Bonus shall be based, in part, on the Executive’s performance. The grant of such a bonus shall be in the sole discretion of the Committee. The maximum bonus amount for which the Executive will be eligible is forty percent (40%) of base salary earned for the calendar year. The Annual Bonus will be earned only after it has been granted by the
Sample 1
Signing and Annual Bonus. Within five (5) business days after the execution of this Agreement, the Corporation shall pay the Executive a one-time signing bonus equal to $150,000. In addition, during the Term of Employment, the Executive shall be eligible to receive a target annual bonus equal to 50% of such Executive's Base Salary if the Corporation attains target performance goals established in good faith by the Board's Compensation Committee (the "Annual Bonus"); provided, however, that in respect of the Corporation's 1998 fiscal year the Executive shall be entitled to receive a guaranteed bonus equal to $300,000 (the "Guaranteed Bonus").
Sample 1

Related to Signing and Annual Bonus

  • Contract Duration and Annual Salary 1. The College hereby employs the Administrator in the capacity of Controller, Associate Professor for one year(s), commencing on July 1, 2021 and terminating on June 30, 2022. The Administrator accepts such employment on the conditions hereinafter set forth, and any applicable provisions of the Board of Trustees Policy Manual. In the event of conflict between Board Policy and this Contract, the Contract shall govern.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365);

  • Term and Annual Renewal The term of this Agreement shall be from the date of its approval by the vote of a majority of the Board of each Issuer, and it shall continue in effect from year to year thereafter only so long as such continuance is specifically approved at least annually by the vote of a majority of its Board, and the vote of a majority of those members of the Board who are neither parties to the Agreement nor interested persons of any such party, cast at a meeting called for the purpose of voting on such approval. “Approved at least annually” shall mean approval occurring, with respect to the first continuance of the Agreement, during the 90 days prior to and including the date of its termination in the absence of such approval, and with respect to any subsequent continuance, during the 90 days prior to and including the first anniversary of the date upon which the most recent previous annual continuance of the Agreement became effective. The effective date of the Agreement with respect to each Fund is identified in the Schedule A of this Agreement.

  • Signing Bonus The Company shall pay the Executive a lump sum cash signing bonus of $50,000 (the “Signing Bonus”) on the Company’s next regular payroll date following the Effective Date; provided that, the Executive shall repay the gross amount of the Signing Bonus if, prior to the date that is six (6) months after the Effective Date, the Executive terminates the Executive’s employment without Good Reason (as defined below) or the Company terminates the Executive’s employment for Cause (as defined below).

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

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