Common use of Annual Performance Bonus Clause in Contracts

Annual Performance Bonus. Executive is eligible to receive an annual performance bonus for each Company fiscal year based on the achievement of performance and/or revenue goals set by the Company’s Board or a committee thereof, with a target bonus equal to 150 % of Executive’s annual base salary. All payments made pursuant to this Section 6.2 will be made in no event later than the later of (i) the 15th day of the third month following the end of Executive’s taxable year in which the annual performance bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determined.

Appears in 2 contracts

Samples: Employment Agreement (American Apparel, Inc), Employment Agreement (Endeavor Acquisition Corp.)

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Annual Performance Bonus. In addition to the Executive’s base salary, the Executive is will be eligible to receive an participate in any annual performance bonus for each Company fiscal year based on the achievement of performance and/or revenue goals set or variable pay plan(s) as may be established by the Company’s Company from time to time, on such terms and conditions as may be established by the Board or a committee thereof, with a target bonus equal to 150 % of Executive’s annual base salary. All payments made pursuant to this Section 6.2 will be made in no event later than the later of (i) the 15th day of the third month following the end of Executive’s taxable year in which the annual performance bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determinedits sole and exclusive discretion.

Appears in 2 contracts

Samples: Employment Agreement (Biocept Inc), Employment Agreement (Biocept Inc)

Annual Performance Bonus. In addition to the Base Salary, the Executive is shall be eligible to receive an annual performance bonus for each Company fiscal year based on the achievement of performance and/or revenue goals set as determined by the Board with the exception of the guaranteed portion of the Annual Bonus which is to be paid in accordance with clause 3.2(b). ("Annual Bonus") based upon the Company’s Board or 's performance for the preceding calendar year of service (each year being regarded as a committee thereof"Bonus Period"), with a target bonus equal as measured against certain performance targets as mutually established by the parties to 150 % of Executive’s annual base salary. All payments made pursuant be paid to this Section 6.2 will be made in Executive no event later than the later of (i) the 15th day March 15 of the third month year following the end of Executive’s taxable year in which the annual performance bonus is Bonus Period. The Annual Bonus shall be determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determined.as follows:

Appears in 2 contracts

Samples: Executive Employment Agreement (AVITA Medical, Inc.), Executive Employment Agreement (AVITA Medical, Inc.)

Annual Performance Bonus. Executive is shall be eligible to receive an annual a bonus of up to 40% of his base salary for his performance each calendar year. This bonus shall be paid not later than February 28 of the year following the year for each Company fiscal year which it is being paid based on upon the achievement of certain individual and Company performance and/or revenue goals set criteria as agreed upon by the Company’s Board or a committee thereof, with a target bonus equal to 150 % and Executive. The determination of Executive’s annual base salary. All payments made pursuant performance in relation to this Section 6.2 will be made in no event later than the later of (i) performance criteria and the 15th day amount of the third month following bonus shall be in the end of Executive’s taxable year in which the annual performance bonus is determined or (ii) the 15th day sole discretion of the third month following the end of the Company’s taxable year in which the annual performance bonus is determinedBoard.

Appears in 2 contracts

Samples: Employment Agreement (Sangamo Biosciences Inc), Employment Agreement (Sangamo Biosciences Inc)

Annual Performance Bonus. In addition to the Base Salary, Executive is shall be eligible to receive an annual performance bonus (the "Annual Bonus") for each Company fiscal year based on of service (or any part thereof in the achievement event of performance and/or revenue goals set by the Company’s Board termination of Executive's employment hereunder (other than a Termination Without Good Reason or a committee thereofTermination for Cause), with a target bonus equal to 150 % of Executive’s annual base salary. All payments made pursuant to this Section 6.2 will be made in no event later than the later of (i) the 15th day of the third month following the end of Executive’s taxable year in which case any Annual Bonus shall be prorated for such partial year) during the annual performance bonus is determined Employment Term (each such year or (ii) the 15th day of the third month following the end of the Company’s taxable any partial such year in which the annual performance bonus is determined.referred to as an "Annual Bonus Period"), 2

Appears in 1 contract

Samples: Employment Agreement (Plasma & Materials Technologies Inc)

Annual Performance Bonus. Beginning with the 2005 fiscal year, the Executive is shall be eligible to receive during the Employment Period for an annual performance bonus which upon the attainment of target performance objectives shall be equal to 100% of the Executive’s Base Salary; provided that for each Company the 2005 fiscal year such bonus shall be prorated for the period beginning March 29, 2005 through December 31, 2005. The actual performance bonus payable for 2005 and for any subsequent year shall be based on the achievement of upon performance and/or revenue goals set criteria established and approved by the Company’s Board or a committee thereof, with a target bonus equal to 150 % of Executive’s annual base salary. All payments made pursuant to this Section 6.2 will be made in no event later than the later of (i) the 15th day Compensation Committee of the third month following the end Board of Executive’s taxable year in which the annual performance bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determinedDirectors.

Appears in 1 contract

Samples: Employment Agreement (Rewards Network Inc)

Annual Performance Bonus. (1) In addition to the Base salary, the Executive is shall be eligible to receive receive, for each calendar year or portion thereof occurring during the Term, an annual performance bonus for each Company fiscal year based on (the achievement of performance and/or revenue goals set by the Company’s Board or a committee thereof, with a target bonus "Annual Bonus") in an amount equal to 150 one hundred fifty percent(150%) of the Executive's Base Salary for such calendar year or portion thereof; provided that the bonus for the year ending December 31, 1999 shall be equal to 150% of the Executive’s annual base salary's Base Salary for an entire year. All payments made pursuant to this Section 6.2 will The amount of any such Annual Bonus shall be made in no event later than based upon the later of (i) the 15th day performance of the third month following Company and determined in accordance with the end of Executive’s taxable year procedures set forth on Exhibit A hereto. The Annual Bonus shall be paid to the Executive at such time or times as is in which accordance with the annual performance bonus is determined or (ii) the 15th day then prevailing policy of the third month following the end of the Company’s taxable year in which the annual performance bonus is determinedCompany relating to incentive compensation payments.

Appears in 1 contract

Samples: Employment Agreement (Riggs National Corp)

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Annual Performance Bonus. (a) For each complete year of the Employment Term, the Executive is shall be eligible to receive an annual performance bonus for each Company fiscal year (the “Annual Bonus”). As of the Effective Date, the Executive’s annual target bonus opportunity shall be equal to 100% of Base Salary (the “Target Bonus”), based on the achievement of Company performance and/or revenue goals set established by the Company’s Board or a committee thereof, with a target bonus equal as provided below (“Target”); provided that the maximum Annual Bonus that may be paid to 150 the Executive is 150% of Executive’s annual base salaryBase Salary. All payments made pursuant to this Section 6.2 will be made in no event later than the later No bonus if performance is under 75% of (i) the 15th day of the third month following the end of Executive’s taxable year in which the annual performance bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determinedTarget.

Appears in 1 contract

Samples: Employment Agreement (NeoVolta Inc.)

Annual Performance Bonus. Executive is shall be eligible to receive an annual performance bonus for each Company fiscal year (the “Annual Bonus”) to be determined by the Compensation Committee of the Board and based on criteria as set forth in the achievement of performance and/or revenue goals set “Performance Incentive Plan” dated January 1, 2012, or any successor Performance Incentive Plan approved by the Company’s Board or a committee thereofCompensation Committee, with a target bonus equal such Annual Bonus to 150 % of Executive’s annual base salarybe established by the Compensation Committee in its sole discretion. All payments made pursuant to this Section 6.2 will The Annual Bonus shall be made paid in no event later than the later of (i) the March 15th day of the third month calendar year following the end of Executive’s taxable calendar year in which the annual performance such bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determinedearned.

Appears in 1 contract

Samples: Executive Employment Agreement (Vivint Solar, Inc.)

Annual Performance Bonus. During the period of the Executive’s employment by the Company hereunder, the Executive is eligible to shall receive each year an annual performance bonus for each Company fiscal year (“Annual Performance Bonus”) based on the achievement of upon objective performance and/or revenue goals criteria set by the Company’s Board or a committee thereof, with Board. The Annual Performance Bonus shall have a target bonus equal to 150 amount of no less than 50% of the Executive’s annual base salaryBase Salary. All payments made pursuant Subject to this Section 6.2 will achievement of the applicable performance criteria as determined by the Board, the Annual Performance Bonus shall be made in no event paid not later than the later of (i) the 15th day March 15 of the third month following the end of Executive’s taxable calendar year in which the annual performance bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable calendar year in which the annual performance bonus Annual Performance Bonus is determinedearned.

Appears in 1 contract

Samples: Employment Agreement (Fogo De Chao, Inc.)

Annual Performance Bonus. In each calendar year of the Term of Employment, Executive is shall be eligible to receive an annual incentive bonus (the “Annual Bonus”) payable in cash, pursuant to the performance bonus for each Company fiscal year based on the achievement of performance and/or revenue goals set criteria and targets established and administered by the Company’s Board (or a committee thereofof directors to whom such responsibility has been delegated by the Board), with a target bonus equal to 150 % Annual Bonus of Executive’s annual base salary. All payments made pursuant to this Section 6.2 will be made in no event later than the later of (i) the 15th day of the third month following the end of Executive’s taxable year in which the annual performance bonus is determined or (ii) the 15th day of the third month following the end of the Company’s taxable year in which the annual performance bonus is determined.66.67%

Appears in 1 contract

Samples: Employment Agreement (Bluerock Residential Growth REIT, Inc.)

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