Individual Performance Bonus Sample Clauses

Individual Performance Bonus. EBITDA and Debt Repayment must equal or exceed 70% of their respective Targets in order for the CEO to be eligible to receive a Individual Performance Bonus. If the Company meets these minimum performance triggers, then the amount of the Individual Performance Bonus that the executive is eligible to receive will be determined based upon the level of achievement of the CEO approved AIP performance measures as described below under “Calculation of Performance Bonus - Individual Performance Bonus.” CALCULATION OF PERFORMANCE BONUS Company Performance Bonus If the executive is eligible to receive a Company Performance bonus, then the amount of the bonus that the executive will be eligible to receive will be determined by the level of achievement of the EBITDA and Debt Repayment performance measures, each computed individually. The bonus amount is based on 60% of the CEO’s base pay times the respective performance measure weighting (the “Base Bonus”) and adjusted for performance greater than or less than the Target amounts. Accordingly, if the Company achieves 100% of the EBITDA Target for a given bonus fiscal year, the CEO’s bonus amount will be 60% of the CEO’s base pay during the bonus fiscal year times 40%. Similarly, if the Company achieves 100% of the Debt Repayment Target for a given bonus fiscal year, the CEO’s bonus amount will be 60% of the CEO’s base pay during the bonus fiscal year times 40%. If the Company achieves greater or less than 100% of the respective EBITDA and Debt Repayment Targets, the CEO’s bonus amounts will increase or decrease as a percentage of the Base Bonus as set forth in the table below. Percent of EBITDA and Debt Reduction Target Achievement < 90% of Target 90% of Target 95% of Target 100% of Target 105% of Target 110% of Target 115% of Target 120% of Target 125% of Target 130% or > of Target Percent of Base Bonus 0% 50% 75% 100% 125% 150% 200% 250% 300% 350% and >* *For each additional 5% increase in the percent of Bonus Plan achievement target after an achievement of 115%, the executive will receive an increase of 50% of the percentage of the Base Bonus.
Sample 1
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Individual Performance Bonus. The Individual Performance Bonus to be received by the executive for each bonus fiscal year will be based on the performance of the executive with respect to the CEO approved AIP’s as determined by the Compensation Committee in its sole discretion. The bonus amount is based on 60% of the CEO’s base pay, times a weighting of 20%. Although a weighting of 20% is given to the Individual Performance Bonus in accordance with the 40/40/20 weighting specified above, the Compensation Committee may, at its discretion, award a payment based on a weighting percentage ranging from 0 to 40% to this measure.
Sample 1
Individual Performance Bonus. The Executive shall be eligible for an annual individual performance bonus, as determined by the President, in his sole discretion, of up to $50,000. In determining the amount of the individual performance bonus, if any, the President shall take into consideration the Executive’s performance, the financial condition of the Company, and such other factors as the President, in his sole discretion, shall deem appropriate. Said individual performance bonus shall be paid to the Executive on or before March 31 of the calendar year immediately following the calendar year to which the individual bonus, if any, relates.
Sample 1Sample 2
Individual Performance Bonus. An individual performance bonus may be approved by the Executive General Manager where an employee has undertaken exceptional work on behalf of the company. An individual performance bonus would normally not be paid where an employee has been rewarded in some other way for the work undertaken.
Sample 1
Individual Performance Bonus. 4.4.1 Full-time and fixed Term Employees will be eligible to receive a performance bonus of up to $4,800 per annum (gross) less applicable tax, subject to the individual achieving the following safety targets: Target Minimum Performance Purposeful Job Safety Observations completed per month Four (4) completed Hazards rectified Two (2) Compliance to equipment pre-start requirements 100% compliance Fitness for Work breach Nil
Sample 1
Individual Performance Bonus. At the conclusion of his first full year of employment, the Company will pay the Executive a bonus of $75,000. For each calendar year thereafter (or partial calendar year from April 1, 2016, through December 31, 2016), the Executive shall be eligible for an annual individual performance bonus, as determined by the President, in his sole discretion, of up to $75,000. In determining the amount of the individual performance bonus, if any, the President shall take into consideration the Executive’s performance, the financial condition of the Company, and such other factors as the President, in his sole discretion, shall deem appropriate. Said individual performance bonus shall be paid to the Executive on or before March 31 of the calendar year immediately following the calendar year to which the individual bonus, if any, relates.
Sample 1
Individual Performance Bonus. 3.1 Taking into account his Partner position and his individual performance rating for the previous fiscal year, the Partner is liable to receive an individual performance bonus, paid on a monthly basis, directly to his bank account and together with his base salary.
Sample 1
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Individual Performance Bonus. Executive shall be eligible to receive up to 20% of base salary based on delivery of new products and performance of new products as directed by the Executive Vice President/COO. The annual bonus formula after the first year will be established annually by the Compensation Committee of the Board of Directors. The Executive’s Annual Bonus earned with respect to each year shall be paid on or before March 31st of the succeeding year.
Sample 1
Individual Performance Bonus. A target bonus based on 25% of Executive’s actual paid out salary during the period will be the basis for calculation (“Individual Bonus Base”). The Individual Performance Bonus will be determined by the Compensation Committee, in its sole discretion, based on performance criteria that will be mutually agreed to by Executive and CEO, and approved in advance by the Compensation Committee, at or before the start of each applicable period. The Individual Performance Bonus will range for 0% to 100% of the Individual Bonus Base. The Executive’s Bonus may be awarded to the Executive in a combination of cash, restricted stock, restricted stock units, stock options, and/or other equity, the combination and vesting of which shall be determined by the Compensation Committee in its sole discretion.
Sample 1

Related to Individual Performance Bonus

  • Annual Performance Bonus In the discretion of the Company's Compensation Committee, the Executive shall be eligible to receive an annual performance bonus payable in cash for each full or partial fiscal year of the Company during the Employment Period in accordance with the Company's performance-based bonus program for Executive Officers.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • 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.

  • 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.

  • 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.

  • Target Bonus For purposes of this Agreement, “Target Bonus” means the assigned bonus target for the Executive under any short-term incentive plan(s) of the Company, multiplied by his or her base salary, for the relevant fiscal year. If the Executive’s base salary is changed during the relevant fiscal year, the Target Bonus shall be calculated by multiplying the Executive’s assigned bonus target by the highest base salary in effect during that fiscal year.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

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