Bonus/Incentive Pay Sample Clauses

Bonus/Incentive Pay. Executive shall be eligible to participate in any bonus plan or incentive pay arrangement or other similar arrangement of the Bank or the Company in which senior management is eligible to participate. Executive shall also be eligible for discretionary bonuses, as determined by the Board of Trustees in its discretion. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement.
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Bonus/Incentive Pay. Executive shall be eligible to participate in any bonus plan or incentive pay arrangement or other similar arrangement of the Bank in which senior management is eligible to participate. Executive shall also be eligible for discretionary bonuses, as determined by the Board of Directors in its discretion. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement. ​ The Bank will offer the Executive the maximum allocation allowed for Standard Conversions (currently 25% of the stock compensation pools). ​ ​ ​ In addition to life insurance benefits provided to other employees, the Bank will provide the Executive with additional life insurance of $500,000 payable to his spouse or other beneficiary upon the Executive’s death. ​ The Bank will continue to provide the Executive with a SERP 162 benefit of $750,000 vesting over 15 years in accordance with the vesting schedule provided to the Executive. ​ The Bank will provide the Executive with a monthly vehicle allowance of $1,500. The Bank will provide the Executive with a monthly mobile phone allowance of $150. During the term of employment, the Executive shall serve as a member of the Bank’s Board of Directors.
Sample 1
Bonus/Incentive Pay. Executive shall be eligible to participate in any bonus plan or incentive pay arrangement or other similar arrangement of the Bank in which senior management is eligible to participate. Executive shall also be eligible for discretionary bonuses, as determined by the Board of Directors in its discretion. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of the other compensation to which Executive is entitled under this Agreement. Upon commencement of the Executive’s employment with the Bank, the Bank will pay the Executive a $50,000 signing bonus. The payment will be made during the first payroll processing cycle of the Executive’s employment. If the Executive does not complete one full year of service with the Bank, the Executive shall repay a portion of the signing bonus in proportion to the number of months in year one not served. Upon the completion of the Bank’s Standard Conversion, the Bank will pay the Executive a $100,000 conversion bonus. The payment will be made during the first payroll processing cycle after the Standard Conversion is completed. Upon the establishment of a share-based compensation program, the Bank will offer the Executive the maximum allocation allowed for Standard Conversions (currently 25% of the stock compensation pools). In addition to life insurance benefits provided to other employees, the Bank will provide the Executive with additional life insurance of $500,000 payable to his spouse or other beneficiary upon the Executive’s death. The Bank will provide the Executive with a SERP 162 benefit of $750,000 vesting over 15 years in accordance with the vesting schedule provided to the Executive. The Bank will provide the Executive with an additional year one bonus to supplement the 401(k) match and profit sharing distribution forfeited due to the respective plans’ waiting periods. The Bank will provide the Executive with a monthly vehicle allowance of $1,500. The Bank will provide the Executive with a monthly mobile phone allowance of $150. Upon commencement of employment, the Executive will become a member of the Bank’s Board of Directors.
Sample 1
Bonus/Incentive Pay. The Employer shall be required to maintain its current Bonus Pay Program for all Head Pharmacists. All Pharmacists shall be allowed to participate and qualify for the Employer’s Bonus Pay Program on the same basis as Head Pharmacists. Any pharmacist performing the job duties of a Head Pharmacists shall be compensated pursuant to the Employer’s Incentive Pay Plan applicable to Head Pharmacists for all hours spent performing Head Pharmacist job duties.
Sample 1

Related to Bonus/Incentive Pay

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • 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”).

  • Annual Incentive Award During the Term of Employment, the Executive shall be eligible for an annual incentive award with payout opportunities that are commensurate with his position and duties, as determined by the Compensation Committee in its discretion. Commencing with the Effective Date of the initial Term of Employment, the Executive’s target annual incentive award opportunity will be equal to fifty percent (50%) of the Executive’s Base Salary. The Executive’s annual incentive award opportunities shall be based on Company and individual performance goals determined, and subject to change, by the Compensation Committee in its discretion. The Executive shall be paid his annual incentive award no later than other senior executives of the Company are paid their annual incentive award.

  • 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.

  • Bonus Compensation The Executive shall not receive any bonus payment whatsoever pursuant to Section 3.02 or the Bonus Plan except such bonus which is already earned and due to be paid up to and including the Termination Date, notwithstanding any period following the Termination Date during which the Executive may receive any payments or benefits under the terms of the Agreement.

  • 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.

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