MBO Bonus. Executive will be eligible to receive an annual target bonus of up to Fifty percent (50%) per year based upon the Company’s achievement of various financial and/or other goals established by the Board. All MBO bonuses will be subject to applicable withholding and taxes. Executive’s annual bonus will be paid no later than March 15th of the year following the year in which Executive’s annual bonus was earned.
MBO Bonus. Employee will be eligible to receive annual bonuses of --------- up to 30 percent of Employee's annual salary based upon the Company's achievement of various financial and/or other goals established by the Board. In establishing MBO goals and award levels, the Board may consider, among other things, the financial condition of the Company, including its cash position, and whether MBO bonuses should be payable in cash or other consideration. The objectives that govern Employee's bonus eligibility for each year will be communicated to Employee in writing by the Board within a reasonable time (not to exceed 60 days unless otherwise mutually agreed) following the commencement of the applicable year. To the extent earned (which requires that Employee be employed by the Company on the last day of the applicable year unless Employee was terminated without cause or resigned for Good Reason, as defined below), bonuses will be paid to Employee on the later of 30 days after (i) the end of the applicable year, or (ii) the date on which the financial or other data necessary to determine Employee's entitlement to the bonus becomes available. All MBO bonuses will be subject to applicable withholding.
MBO Bonus. The Executive’s maximum MBO Bonus shall be based upon achievement of objective criteria established in good faith by the Board of Directors. EXHIBIT B
MBO Bonus. If, for a particular year, the Company’s EBITDA for the year equals or exceeds 85% of Target EBITDA, then if the Compensation Committee determines, in its sole discretion, that Executive achieved the Individual MBO Criteria set forth for the year, then the Compensation Committee shall further determine, in its sole discretion, whether such achievement was at an entry, target or distinguished level. If the Compensation Committee so determines that Executive’s achievement of the Individual MBO Criteria was at an entry level, then Executive’s MBO Bonus shall be equal to the product of 6% times Executive’s Base Salary. If the Compensation Committee so determines that Executive’s achievement of the Individual MBO Criteria was at a target level, then Executive’s MBO Bonus shall be equal to the product of 12% times Executive’s Base Salary. If the Compensation Committee so determines that Executive’s achievement of the Individual MBO Criteria was at a distinguished level, then Executive’s MBO Bonus shall be equal to the product of 18% times Executive’s Base Salary.
MBO Bonus. The Executive’s maximum MBO Bonus shall be based upon achievement of objective criteria established in good faith by the Board of Directors. EXHIBIT B Stock Options Upon the closing of the Acquisition, Executive will be granted options to purchase One Million Two Hundred Fifty Thousand (1,250,000) shares of common stock of the Company, pursuant to the Non-Qualified Stock Option Agreement (the “Stock Option Agreement”) which is attached hereto as portion of Exhibit B to the Agreement. Exhibit B THE SHARES ISSUABLE PURSUANT TO THIS AGREEMENT ARE SUBJECT TO AN OPTION TO REPURCHASE AND A RIGHT OF FIRST REFUSAL PROVIDED UNDER THE PROVISIONS OF THE COMPANY’S 2002 STOCK OPTION PLAN AND THIS AGREEMENT IS ENTERED INTO PURSUANT THERETO. COPIES OF THE PLAN ARE AVAILABLE UPON WRITTEN REQUEST TO THE COMPANY AT ITS PRINCIPAL EXECUTIVE OFFICES. SWIFT FOODS COMPANY 2002 STOCK OPTION PLAN NON-QUALIFIED STOCK OPTION AGREEMENT September 19, 2002 Dxxxx Xxxxxx c/o Swift Foods Company 1000 Xxxxxxxxxx Xxxxxx Xxxxxxx, Xxxxxxxx 00000 Re: Grant of Stock Option Dear Dxxxx: The Board of Directors of Swift Foods Company (the “Company”) has adopted the Company’s 2002 Stock Option Plan (the “Plan”) for certain individuals, directors and key employees of the Company and its Related Entities. A copy of the Plan is being furnished to you concurrently with the execution of this Option Agreement and shall be deemed a part of this Option Agreement as if fully set forth herein. The terms and provisions of that certain employment agreement between you and the Company, dated as of May 20, 2002 (together with any successor or replacement agreement, the “Employment Agreement”), that relate to or affect the Option are incorporated herein by reference. Terms not defined herein that are defined in the Employment Agreement shall have the respective meanings set forth in the Employment Agreement. Terms not defined herein that are not defined in the Employment Agreement shall have the respective meanings set forth in the Plan. In the event of any conflict or inconsistency between the terms and conditions of this Option Agreement and the terms and conditions of the Employment Agreement, the terms and conditions of the Employment Agreement shall be controlling.
MBO Bonus. You will be eligible to participate in the Company’s annual executive bonus program with a target incentive bonus of 40% of your annual salary, earned and determined at the sole discretion of Vivint Solar and based on multiple factors, including, but not limited to, achievement of individual and Company performance objectives. A significant purpose of our bonus program is retention, therefore to earn a bonus, you must be an employee on the date Vivint Solar pays such bonus, and you will not earn or be entitled to any pro rata bonus payments if your employment ends for any reason prior to such date. All earned bonuses will be paid in accordance with Vivint Solar’s policies and practices regarding incentive compensation awards.
MBO Bonus. The Executive's maximum MBO Bonus shall be based upon achievement of objective criteria established in good faith by the Board of Directors. EXHIBIT B STOCK OPTIONS Upon the closing of the Acquisition, Executive will be granted options to purchase One Million Two Hundred Fifty Thousand (1,250,000) shares of common stock of the Company, pursuant to the Non-Qualified Stock Option Agreement (the "Stock Option Agreement") which is attached hereto as portion of Exhibit B to the Agreement. EXHIBIT C NON-WAIVED RETENTION BONUSES, STAY BONUSES AND SEVERANCE PAYMENTS Executive is entitled to receive a Three Hundred Fifteen Thousand Dollar ($315,000) "stay bonus" to be paid by the Company to the Executive within 15 days of the closing of the Acquisition.
MBO Bonus. At the beginning of the fiscal year and/or quarter the Chief Executive Officer of the company will work with each vice president to establish three to seven performance objectives for each fiscal quarter for each officer and vice president. The Company's Board of Directors will establish the quarterly performance objectives for the CEO. Each objective will include a specific, measurable result and will be given a weighted value based on the effort required by the executive to reach the objective, as well as the objective's impact on the Company's business. The MBO Bonus amount the executive will be eligible to earn is outlined on the attached individualized "Plan Summary" document. The MBO bonus will be earned on the date that a participant's performance is reviewed against the set MBO goals for the preceding quarter. To be eligible to earn the MBO bonus, a participant must be continuously employed by the Company on the review date. If a participant ceases to be employed by the Company for any reason prior to the review date, then he or she will not be eligible to earn or receive any part of the MBO bonus under this plan. The review date will be within fifteen (15) days after the end of each fiscal quarter. The CEO will review the performance of each vice president and officer for the preceding quarter against the set MBO goals for that quarter. The Board of Directors will review the performance of the CEO for the preceding quarter against his MBO goals for that quarter. The CEO or Board of Directors will then determine in sole discretion what, if any, MBO bonus to award the participant. At the end of each fiscal quarter, the Company may modify the performance objectives of any participant for the remaining fiscal quarters of the year if at its sole discretion it is deemed necessary to do so. The MBO bonus earned by the participant will be paid no later than thirty (30) days after the review date. COMPANY PROFIT BONUS: A profit bonus will be earned at the end of each fiscal quarter based on achievement of the quarterly operating profit objective set for that quarter, as approved by the Board of Directors. The profit bonus amount the executive will be eligible to earn is outlined on the attached individualized "Plan Summary" document. If the profit objective is met, but the department that the executive manages has exceeded its quarterly expense budget, the profit bonus will not be paid to that individual. If the profit objective is not met, the executive i...
MBO Bonus financial and/or other goals established by the Company. The objectives that govern your bonus eligibility for this year will be communicated to you in writing by the Company within 90 days following the start of your employment. During this initial year of your employment, you will have quarterly MBO goals. To the extent earned (which requires that you be employed by the Company on the last day of the applicable quarter), bonuses will be paid to you on the later of 30 days after (i) the end of the applicable quarter (or year), or (ii) the date on which the financial or other data necessary to determine your entitlement to the bonus becomes available. Please note that your MBO bonus payments will be prorated based on the number of days that you were employed by the Company during any relevant quarter in which you were not employed during the entire quarter. For the bonus payment due for the quarter ending on December 31, 1999 your MBO bonus payment will be prorated based on the number of days that you were employed by the Company only if you received a partial MBO payment from Nortel upon your resignation from Nortel. All MBO bonuses will be subject to applicable withholding and taxes. The Board of Directors will have the discretion to change the schedule and number of MBO payments at any time and for any reason.
MBO Bonus. You will be eligible to participate in the Company’s annual executive bonus program with a target incentive bonus of 40% of your annual salary, earned and determined at the sole discretion of Vivint Solar and based on multiple factors, including, but not limited to, achievement of individual and Company performance objectives. A significant purpose of our bonus program is retention, therefore to earn a bonus, you must be an employee on the date Vivint Solar pays such bonus, and you will not earn or be entitled to any pro rata bonus payments if your employment ends for any reason prior to such date. All earned bonuses will be paid in accordance with Vivint Solar’s policies and practices regarding incentive compensation awards. Long-term Incentives: You previously have been granted the long-term equity incentive award(s) (the “Equity Incentive Award(s)”) under the 2013 Omnibus Incentive Plan (the “Plan”) that are set forth on Exhibit A. The Equity Incentive Award(s) remain subject to the terms and conditions applicable to awards granted under the Plan and the agreement between you and the Company. Your status as a continuous service provider under the terms and conditions of the Plan has not been affected by this agreement or your employment moving to Vivint Solar, and does not modify applicable vesting requirements. Any vesting is subject to your continued employment with the Company through applicable vesting dates. No rights are earned or accrued until such time that vesting occurs, nor does the xxxxx xxxxxx any right to continued vesting or employment. You acknowledge that you have no rights or claims to equity of the Company other than the Equity Incentive Award(s) listed on Exhibit A.
