Common use of Performance Bonus Clause in Contracts

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 10 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

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Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's ’s Base Salary for the applicable year. The amount, if any, shall be determined by the Board of Directors of the Employer (the “Board”), or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 5 contracts

Samples: Keith M. Roseland Employment Agreement (Centrue Financial Corp), Carol S. Hoekstra Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five fifty percent (2550%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 3 contracts

Samples: Employment Agreement (Centrue Financial Corp), Lindstrom Employment Agreement (Kankakee Bancorp Inc), Employment Agreement (Kankakee Bancorp Inc)

Performance Bonus. The Executive shall be eligible to receive an annual a performance bonus, payable the earning of which shall be subject to the discretion and determination of the Board or a committee thereof (the “Performance Bonus”) in an amount equal to thirty-five percent (35%) of Executive’s Annual Base Salary. The determination of the amount, if any, of the Performance Bonus each year shall be made no later than sixty (60) days following the conclusion of each applicable year of the Term, and shall be paid, if at all, within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteriasuch determination.

Appears in 2 contracts

Samples: Employment Agreement (GRI BIO, Inc.), Employment Agreement (Vallon Pharmaceuticals, Inc.)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five fifty percent (2550%) of the Executive's ’s Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 2 contracts

Samples: Employment Agreement (Centrue Financial Corp), Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible entitled to receive an annual performance bonus, payable within sixty ninety (6090) days after the end of the fiscal year of the Employer, which shall be based upon performance criteria mutually agreed upon by Executive and the Board, and which shall not be deemed earned, in an whole or in part, until such time as the amount not to exceed twenty-five percent of such bonus is determined by the Board. The amount (25%if any) of and the Executive's Base Salary for the applicable year. The amountform of payment (i.e., if anycash, stock options, stock grants or any combination thereof) shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 2 contracts

Samples: Employment Agreement (First Community Financial Partners, Inc.), Employment Agreement (First Community Financial Partners, Inc.)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's ’s Base Salary for the applicable year. The amount, if any, shall be determined by the Board of Directors of the Employer (the “Board”), or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteriacriteria mutually agreed to by the Executive and the Employer.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's ’s Base Salary for the applicable year. The annual potential bonus for 2005 is up to $30,000 and for 2006 is up to $33,750. The amount, if any, shall be determined by the Board of Directors of the Company (the “Board”), or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's ’s Base Salary for the applicable year. The amount, if any, shall be determined by the Board of Directors of the Company (the “Board”), or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after on or before the March 15th immediately following the end of the fiscal year of the Employer, Company in an amount not to exceed twentyforty-five percent (2545%) of the Executive's ’s Base Salary for the applicable year. The amount, if any, shall be determined by the Board of Directors of the Company (the “Board”), or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.. (c)

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or Human Resources Committee of the appropriate committee thereof, Board and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 1 contract

Samples: John Rosenthal Employment Agreement (St Joseph Capital Corp)

Performance Bonus. The Executive shall be eligible to receive an annual a performance bonus, payable the earning of which shall be subject to the discretion and determination of the Board or a committee thereof (the “Performance Bonus”). For the first year of the Term, Executive shall be eligible to receive a Performance Bonus in an amount equal to twenty percent (20%) of Executive’s Annual Base Salary. After the first year of the Term, Executive shall be eligible to receive a Performance Bonus in an amount equal to thirty-five percent (35%) of Executive’s Annual Base Salary. The determination of the amount, if any, of the Performance Bonus each year shall be made no later than sixty (60) days following the conclusion of each applicable year of the Term, and shall be paid, if at all, within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteriasuch determination.

Appears in 1 contract

Samples: Employment Agreement (Vallon Pharmaceuticals, Inc.)

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Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after on or before the March 15th immediately following the end of the fiscal year of the Employer, Company in an amount not to exceed twentyfifty two and five-five tenths percent (2552.5%) of the Executive's ’s Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.. (c)

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five thirty percent (2530%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The During the Term, Executive shall be eligible to receive an annual a performance bonus, payable bonus (the “Performance Bonus”) of up to $100,000 for each twelve month period during the Term in accordance with Exhibit A. Each Performance Bonus shall be paid within sixty (60) 90 days after the end of the fiscal year of the Employerapplicable 12 month period, provided that, except as provided in an amount not to exceed twenty-five percent (25%Sections 5(b) of the Executive's Base Salary for the applicable year. The amountor 5(c) hereof, if any, shall be determined Executive remains employed by the Board, or Company on the appropriate committee thereof, and shall generally be based on a combination date of organization-wide and individual performance criteriasuch payment.

Appears in 1 contract

Samples: Employment Agreement (Emtec Inc/Nj)

Performance Bonus. The Executive shall will be eligible to receive an annual performance bonusbonus of a minimum of 25.0% and a maximum of 100.0% of the then applicable Base Salary, less applicable withholding taxes, payable within sixty (60) days after in cash or stock at the end discretion of the fiscal year Compensation Committee, upon achievement of the Employer, in an amount not annual performance objectives to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the BoardBoard and Executive, or which such objectives for the appropriate committee thereof, and shall generally first year of this Agreement will be based on a combination established within thirty (30) days of organization-wide and individual performance criteriathe Effective Date. Objectives for subsequent years will be determined as set forth herein within thirty (30) days of each anniversary of this Agreement.

Appears in 1 contract

Samples: Employment Agreement (Whitelight Technologies Inc)

Performance Bonus. The Executive shall be eligible to receive an annual a performance bonus, payable the earning of which shall be subject to the discretion and determination of the Board or a committee thereof (the “Performance Bonus”) in an amount equal to fifty percent (50%) of Executive’s Annual Base Salary. The determination of the amount, if any, of the Performance Bonus each year shall be made no later than sixty (60) days following the conclusion of each applicable year of the Term, and shall be paid, if at all, within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteriasuch determination.

Appears in 1 contract

Samples: Employment Agreement (Vallon Pharmaceuticals, Inc.)

Performance Bonus. The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's ’s Base Salary for the applicable year. The annual potential bonus for 2005 is up to $27,500 and for 2006 is up to $33,750. The amount, if any, shall be determined by the Board of Directors of the Company (the “Board”), or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

Appears in 1 contract

Samples: Employment Agreement (Centrue Financial Corp)

Performance Bonus. The Executive shall be eligible entitled to receive an annual performance bonus, payable within sixty ninety (6090) days after the end of the fiscal year of the Employer, which shall be based upon performance criteria determined in an the sole discretion of Employer. Any such annual performance bonus shall not be deemed earned, in whole or in part, until such time as the amount not to exceed twenty-five percent of such bonus is finally determined by Employer. The amount (25%if any) of and the Executive's Base Salary for the applicable year. The amountform of payment (e.g., if anycash, stock options, stock grants or any combination thereof) shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteriaEmployer in its sole discretion.

Appears in 1 contract

Samples: Employment Agreement (First Community Financial Partners, Inc.)

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