Incentive Compensation Arrangement Sample Clauses

Incentive Compensation Arrangement. (a) In further consideration of Employee's performance of services under Section 3 hereof, Thomxx Xxxup agrees to compensate Employee under the incentive compensation arrangement ("Incentive Compensation") set forth in Section 4.2(b). Except as specifically provided herein, the computation of annual incentive compensation will be based upon the audited financial results of Thomxx Xxxup.
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Incentive Compensation Arrangement. (a) In further consideration of Employee's performance of services under Section 3 hereof, TGI agrees to compensate Employee under the incentive compensation arrangement ("
Incentive Compensation Arrangement. Mr. English shall be eligible to receive a minimum of 30% of Base Salary, paid as a cash incentive and calculated annually, based on criteria in Exhibit A of this document, attached hereto. Financial computations of the annual incentive, if applicable, will be based upon the audited financial results of Xxxxxx Group. Xxxxxx Group shall pay the incentive compensation to Mr. English within fifteen (15) days following completion of an audit of Xxxxxx Group’s financial statements by the Company’s certified public accountants, and no later than April 15 of each year. Mr. English must be on the Company’s active payroll at the end of the year in question (December 31st) in order to be eligible to receive an award for that year.
Incentive Compensation Arrangement. In further consideration of Xx. Xxxxxx'x performance of services under Section 3, Xxxxxx Group agrees to compensate Xx. Xxxxxx under the incentive compensation arrangement as approved by the Board. The computation of annual incentive compensation will be based upon the audited financial results of Xxxxxx Group. Xxxxxx Group shall pay the incentive compensation to Xx. Xxxxxx within fifteen (15) days following completion of an audit of Xxxxxx Group's financial statements by the Company's certified public accountants, and no later than April 15 of each year. Xx. Xxxxxx must be on the Company's active payroll on April 15 of the year in question in order to be eligible to receive an award.
Incentive Compensation Arrangement. Xx. Xxxxxx shall be paid a cash incentive, calculated annually, based upon two criteria as defined in this agreement; Commercial Revenue and Operating Profit. The starting point for the incentive calculation is 70% of Base Compensation, called the Target Incentive ("Target"). The two criteria represent the following percentages of the Target: 2004 2005* 2006* Commercial Revenue 70% 50% 0% Operating Profit 30% 50% 100% The incentive for each criteria begins at 20% of Target upon reaching a minimum annual threshold and is capped at 200% of Target upon reaching a maximum annual threshold. The annual thresholds and their corresponding percentages of Target are: 2004 Threshold Commercial Revenue Operating Profit % of Target Minimum $ 3,000,000 $ 1,500,000 20 % Target $ 4,000,000 $ 1,700,000 100 % Maximum $ 7,000,000 $ 2,700,000 200 % * The 2005 & 2006 targets and thresholds will be mutually agreed upon between the Board and Xx. Xxxxxx at a future date. Attached hereto as Exhibit A is a sample calculation of the Incentive Compensation. The computation of annual incentive compensation will be based upon the audited financial results of Xxxxxx Group. Xxxxxx Group shall pay the incentive compensation to Xx. Xxxxxx within fifteen (15) days following completion of an audit of Xxxxxx Group's financial statements by the Company's certified public accountants, and no later than April 15 of each year. Xx. Xxxxxx must be on the Company's active payroll at the end of the year in question (December 31st ) in order to be eligible to receive an award for that year.
Incentive Compensation Arrangement. (a) In further consideration of Mr. Xxxxxx' xxrformance of services under Section 3 hereof, the Company agrees to compensate Mr. Xxxxxx xxxer the incentive compensation arrangement ("Incentive Compensation") set forth in Section 4.2(b). Except as specifically provided herein, the computation of annual incentive compensation will be based upon the audited financial results of the Company.
Incentive Compensation Arrangement. In further consideration of Xx. Xxxxxx'x performance of services under Section 2, Xxxxxx Group agrees to compensate Xx. Xxxxxx under the incentive compensation arrangement set forth in the document entitled "Incentive Compensation for Xxxx X.
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Related to Incentive Compensation Arrangement

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Equity Incentive Compensation During the term of employment hereunder the Executive shall be eligible to participate, in an appropriate manner relative to other senior executives of the Parent and its subsidiaries, in any equity-based incentive compensation plan or program approved by the Board from time to time, including (but not by way of limitation) any plan providing for the granting of (a) options to purchase stock of the Parent, (b) restricted stock of the Parent or (c) similar equity-based units or interests.

  • Deferred Compensation Plan Manager shall be eligible to participate in the First Mid-Illinois Bancshares, Inc. Deferred Compensation Plan in accordance with the terms and conditions of such Plan.

  • Incentive Compensation The Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be forty five percent (45%) of their Base Salary, although any the actual incentive compensation amount shall be discretionary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Annual Incentive Compensation (a) The Executive shall be eligible to receive annual bonus compensation, if any, as may be determined by, and based on performance measures established by, the Board of Directors upon the recommendation of the Compensation Committee of the Board of Directors (the “Committee”) consistent with the Employer’s strategic planning process and in consultation with the Executive, pursuant to any incentive compensation program as may be adopted from time to time by the Board of Directors, based on recommendations by the Committee (an “Annual Bonus”).

  • Deferred Compensation Plans Employees are to be included in the State of California, Department of Personnel Administration's, 401(k) and 457 Deferred Compensation Programs. Eligible employees under IRS Code Section 403(b) will be eligible to participate in the 403(b) Plan.

  • 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.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • Cash and Incentive Compensation For clarification, it is understood by all parties that other than as specified herein, the Company is not obligated to award any future grants of stock options or other form of equity compensation to Executive during Executive's employment with the Company.

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