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 ("
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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.
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1
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.
Sample 1
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Related to Incentive Compensation Arrangement

  • Incentive Compensation Plans The occurrence of any of the following: (i) a material reduction by the Corporation in the Executive’s (A) annual incentive compensation target or maximum opportunity, or (B) long-term incentive compensation target or maximum opportunity (measured based on grant date fair value of any equity-based awards), in each case, as in effect immediately prior to the Change in Control, or (ii) a change in the performance conditions, vesting, or other material terms and conditions applicable to annual and/or long-term incentive compensation awards granted to Executive after the Change in Control which would have the effect of materially reducing the Executive’s aggregate potential incentive compensation from the level in effect immediately prior to the Change in Control; or

  • 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.

  • Long-term Incentive Compensation Programs During the Employment Period, the Executive shall participate in all long-term incentive compensation programs (including, without limitation, programs providing for the grant of stock options and other equity-based awards) for key executives at a level that is commensurate with the Executive's participation in such plans immediately prior to the Effective Date, or, if more favorable to the Executive, at the level made available to the Executive or other similarly situated officers at any time thereafter.

  • 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 Borrower has no pension, profit sharing or other compensatory or similar plan (herein called a “Plan”) providing for a program of deferred compensation for any employee or officer. No fact or situation, including but not limited to, any “Reportable Event,” as that term is defined in Section 4043 of the Employee Retirement Income Security Act of 1974 as the same may be amended from time to time (“Pension Reform Act”), exists or will exist in connection with any Plan of Borrower which might constitute grounds for termination of any Plan by the Pension Benefit Guaranty Corporation or cause the appointment by the appropriate United States District Court of a Trustee to administer any such Plan. No “Prohibited Transaction” within the meaning of Section 406 of the Pension Reform Act exists or will exist upon the execution and delivery of the Agreement or the performance by the parties hereto of their respective duties and obligations hereunder. Borrower will (1) at all times make prompt payment of contributions required to meet the minimum funding standards set forth in Sections 302 through 305 of the Pension Reform Act with respect to each of its Plans; (2) promptly, after the filing thereof, furnish to Agent copies of each annual report required to be filed pursuant to Section 103 of the Pension Reform Act in connection with each Plan for each Plan Year, including any certified financial statements or actuarial statements required pursuant to said Section 103; (3) notify Agent immediately of any fact, including, but not limited to, any Reportable Event arising in connection with any Plan which might constitute grounds for termination thereof by the Pension Benefit Guaranty Corporation or for the appointment by the appropriate United States District Court of a Trustee to administer the Plan; and (4) notify Agent of any “Prohibited Transaction” as that term is defined in Section 406 of the Pension Reform Act. Borrower will not (a) engage in any Prohibited Transaction or (b) terminate any such Plan in a manner which could result in the imposition of a Lien on the Property of Borrower pursuant to Section 4068 of the Pension Reform Act.

  • Executive Compensation Plans Executive shall be entitled during the Term to participate, without discrimination or duplication, in executive compensation plans and programs intended for general participation by senior executives of the Bank, as presently in effect or as they may be modified or added to by the Bank from time to time, subject to the eligibility and other requirements of such plans and programs, including without limitation any stock option plans, plans under which restricted stock/restricted stock units, performance-based restricted stock/restricted stock units or performance-accelerated restricted stock/restricted stock units (collectively, “stock plans”) may be awarded, other annual and long-term cash and/or equity incentive plans, and deferred compensation plans. The Bank makes no commitment under this Section 5(a) to provide participation opportunities to Executive in all plans and programs or at levels equal to (or otherwise comparable to) the participation opportunity of any other executive.

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