Management by Objectives Bonus Sample Clauses

Management by Objectives Bonus. Employee will also be eligible to receive an annual cash bonus in an amount determined by the Board (the “Target Bonus”), upon the achievement of performance objectives mutually agreed upon between Employee and the Board within Ninety (90) days following the Effective Date. Thereafter, Employee will be eligible to receive an annual bonus in such amount and upon such terms as shall be determined by the Board.
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Management by Objectives Bonus. Employee will also be eligible to receive an annual cash bonus of up to $100,000 (the “Target Bonus”), upon the achievement of performance objectives mutually agreed upon between Employee and the Compensation Committee of the Board (the “Compensation Committee”). The performance objectives for the remainder of fiscal year 2011 shall be mutually agreed upon between Employee and the Compensation Committee within thirty (30) days following the Effective Date; provided, however, that (i) the performance objectives for Employee’s first six months of employment shall be primarily based upon Employee’s individual performance as determined by the Compensation Committee based on both individual and management by objective milestones to be determined by the Compensation Committee and (ii) the performance objectives for the remaining months of fiscal year 2011 shall be based upon a combination of the foregoing individual objectives and the Company’s achievement level against financial and performance objectives, which may include, but are not limited to, revenue, revenue growth quarter-over-quarter or year-over-year, sales representative productivity quarter-over-quarter or year-over-year, margin improvement and strategic transactions in excess of $500,000. Employee’s Target Bonus for fiscal year 2011 shall include a guaranteed and unconditional bonus of $30,000 (the “Guaranteed Bonus”) that shall be paid no later than sixty (60) days following December 31, 2010. To receive payment of any bonus Employee must be employed by the Company at the time bonuses are paid. For fiscal years after fiscal year 2011, Employee will be eligible to receive an annual bonus in such amount and upon such terms as shall be determined by the Board.
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Management by Objectives Bonus. Employee will also be eligible to receive, with respect to the year ending December 31, 2018, an annual cash bonus of up to thirty-three and 1/3 percent (33.33%) of the Employee’s then-current Base Salary, upon the achievement of performance objectives mutually agreed upon between Employee and the Board within Ninety (90) days following the Effective Date. Thereafter, Employee will be eligible to receive an annual bonus in such amount and upon such terms as shall be determined by the Board (any annual bonus, including the annual bonus described in the first sentence of this Section 4.2, is referred to as the “Target Bonus”). Any Target Bonus will be paid to Employee at the same time as annual bonuses are generally payable to other senior executives of the Company, but in all events, any Target Bonus earned pursuant to this Section 4.2 will be paid on or before March 15 of the year following the year for which it is earned.
Sample 1

Related to Management by Objectives Bonus

  • 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 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").

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • 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.

  • 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 Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • 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 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.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

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