Variable Pay. The Executive will be eligible to receive an annual variable pay (“Variable Pay”) of an amount of Rupees Seventeen Crores (INR 170,000,000), which shall be payable to the Executive subject to the Company’s achievement of certain milestones as determined by the Board (or its committee) in consultation with the Executive, in the Company’s sole discretion, from time to time, less applicable withholdings (the “Target Variable Pay”). The Variable Pay paid to Executive for a particular fiscal year shall not exceed 125% of the Target Variable Pay (“Maximum Variable Pay”). Variable Pay will be paid as soon as practicable after the Board (or its committee) determines that the Variable Pay has been earned, but in no event shall the Variable Pay be paid later than the 15th day of the 3rd month following the close of the Company’s fiscal year in which the Variable Pay was earned. In order for Executive to be eligible to receive Variable Pay for a particular fiscal year, Executive must be employed by the Company on the last day of such fiscal year.
Variable Pay. The Executive shall be entitled to receive variable pay of 40% of Base Salary in accordance with the Corporation’s performance and the Executive’s individual goals as agreed to by the Corporation and the Executive from time to time. Presently, the Executive’s variable pay will be tied to the following criteria:
Variable Pay. During the Term, Employee shall be eligible to earn an annual performance bonus, subject to the attainment of annual Company and/or individual performance goals as determined by the Board, prior to Closing, and the MCEO, after the Closing; provided, that for any year during which the Closing occurs, Employee’s annual performance bonus shall be pro rated based on Employee’s performance for the period through Closing as determined by the Board and the period of such year after the Closing as determined by the MCEO. Employee’s annual target bonus will be 30% of Employee’s Annual Salary (the “Target Bonus”). Any such bonus payable under this Section 4.2 shall be paid within 45 days after the end of the fiscal year to which such bonus relates.
Variable Pay. You will be eligible for variable pay at the 40% (forty percent) Target level. The Variable Pay plan is governed by the "Biomira Inc. (Canada) Employee Incentive Program" (the "Bonus Program") document and the terms of this document will govern. Goals for the plan are established at the beginning of the year, and payment is made following the close of the year in accordance with the terms of the Bonus Program.
Variable Pay. (i) In addition to the Fixed Pay, with respect to each completed fiscal year of the Indian Company during the Term (excluding the Notice Period), the Employee shall be eligible to earn a variable pay which may range from NIL to 125% of the Target Variable Pay for such fiscal year (the “Variable Pay”), with a target Variable Pay of INR 1,00,00,000 (the “Target Variable Pay”). The actual amount of Variable Pay will be determined by the Company and based on the achievement of annual individual and Company level performance objectives established by the India Company Board, subject to: (x) the Employee’s continuing employment with the Companies through the applicable payment date for any such Variable Pay (in the manner contemplated herein), and (y) the Employee’s employment not having been terminated for Cause, the Employee not being placed on Garden Leave, or the Notice Period not commencing.
Variable Pay. 34.01 (a) Effective the day of the Award, the Employer may pay to an employee a lump sum payment over and above their normal salary on the grid to employees who possess scarce skills and qualifications where the inability to hire or retain such employees would have significant negative impact on the ability of the Employer to fulfill its mandate.
Variable Pay. The Executive shall be entitled to participate in the Corporation’s variable pay program, at such levels and with such performance goals as may be agreed to between the Corporation and the Executive, from time to time.
Variable Pay. Employee may be eligible for a bonus at the discretion of the NACEO.
Variable Pay. Due to the change in the terms of your employment, you will not be entitled to receive variable pay for 2007 or anytime thereafter;
Variable Pay. During the Term, including, but not limited to, the year in which the Date of Termination (as defined by Section 8.6.3) occurs and notwithstanding any requirements that the Executive be employed at the end of the performance year or on the date of payment to be eligible for a variable pay award under the terms of any then existing bonus plan, the Board of Directors of the Parent (“the Parent Board”) may at its sole discretion, both as to whether to pay or award any variable incentive compensation (including any bonus or deferred bonus in the form of cash or equity) (“Variable Pay”) and if so, how much, pay the Executive Variable Pay of such amount as the Parent Board may determine in respect of each complete financial year of the Company.
