Executive Incentive Bonus Plan Sample Clauses

Executive Incentive Bonus Plan. Notwithstanding anything to the contrary contained in this Agreement, Executive and the Company agree that (i) the Annual Bonus contemplated by this Agreement shall be payable to Executive only pursuant to the terms of an Executive Incentive Bonus Plan (the "Incentive Plan"), incorporating all applicable terms and conditions of the Annual Bonus contained in this Agreement, (ii) the Incentive Plan, and any Annual Bonus to be payable thereunder, is subject to the approval of the stockholders of the Company, and (iii) in the event that the Incentive Plan is not approved by the Company's stockholders at the Company's 2004 Annual Meeting, then (x) Executive shall not be entitled to receive the Annual Bonus contemplated by this Agreement and shall have no rights or claims against the Company arising from such failure of the Company's stockholders to approve the Incentive Plan, and (y) this Agreement shall remain in full force and effect except that all references in this Agreement to the Annual Bonus shall be deemed to be deleted from this Agreement and of no further force or effect. The Company agrees that the Incentive Plan shall be submitted for approval by the Company's stockholders at the Company's 2004 Annual Meeting of Stockholders.
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Executive Incentive Bonus Plan. During the Employment Period, the Executive shall be eligible to earn an annual bonus (a "Bonus") under the Corporation's Executive Incentive Bonus Plan (the "Bonus Plan") based on Executive's target percentage of Base Salary established pursuant to the Bonus Plan.
Sample 1
Executive Incentive Bonus Plan. During the Employment Period, the Executive shall receive an annual bonus (a "Bonus") at least equal to the greater of (i) the average annual dollar bonus amount that was earned by the Executive under the Corporation's Annual Incentive Bonus Plan, amended and restated as of March 31, 1998 (or any predecessor or successor plan, policy or arrangement thereto) (the "Bonus Plan") for the three completed fiscal years of the Corporation (each a "Fiscal Year") immediately prior to the Effective Date, or (ii) Executive's Target (as defined in the Bonus Plan) bonus amount under the Bonus Plan for the Fiscal Year which includes the Effective Date or, if no target has been set with respect to Executive for such Fiscal Year, the Target bonus amount for the immediately preceding Fiscal Year (in either case, based on Executive's target percentage of Base Salary established pursuant to the Bonus Plan).
Sample 1

Related to Executive Incentive Bonus Plan

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • 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.

  • Incentive Bonuses The Employee shall be eligible to be considered for an annual incentive bonus with a target amount equal to 50% of his Base Compensation. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Company's Board of Directors (the "Board") or its Compensation Committee. The determinations of the Board or such Committee with respect to such bonus shall be final and binding.

  • 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 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.

  • Annual Incentive Awards The Executive shall participate in the Company's annual incentive compensation plan with a target annual incentive award opportunity of no less than 40% of Base Salary and a maximum annual incentive award opportunity of 80% of Base Salary. Payment of annual incentive awards shall be made at the same time that other senior-level executives receive their incentive awards.

  • 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 Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.

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