Bonus. Subject to approval of Crawford's Board of Directors, you are eligible to participate in the Crawford Short Term Incentive Plan ("STIP"). Your STIP Target Bonus will be 57.50% of your Base Salary, with a maximum STIP bonus of 115% of your Base Salary. Any STIP bonus will be payable in accordance with the STIP terms, and will be subject to applicable withholding taxes.
Bonus. The Company shall establish an annual bonus plan of which certain management employees of the Company shall be eligible to participate, which annual bonus plan shall comprise a calendar year (the “Plan Year”). Melamed shall participate in such annual bonus plan during each year of the term of this Agreement with goals (the “Annual Goals”) established and approved by the Board of Directors. Pursuant to this annual bonus plan, Melamed shall be eligible for discretionary performance and incentive bonuses if and as may be determined in the sole discretion of the Board of Directors of the Company. The bonus criteria for Melamed shall be tied to the Company’s Long Term Financial Pro Forma (as adopted by the Company upon execution of this Agreement) and shall serve as the basis of evaluation for any payments awarded pursuant to the Company’s annual bonus plan by the Board of Directors. At the conclusion of the Plan Year, the Board of Directors shall determine the level of success achieved by the Melamed against the Annual Goals and recommend the amount of the annual bonus plan payment. If Melamed’s employment is terminated for reasons other than Due Cause or her voluntary resignation, she shall receive within 30 days after such date of termination any bonus earned up to the date of termination as reasonably determined by the Board of Directors. All payments related to the annual bonus plan are subject to the prior approval by the Board of Directors and the Company’s ability to make such payments when considering the cash position of the Company. Melamed Bonus Guidelines are attached to this Agreement as Exhibit B.
Bonus. The Employee shall be eligible to receive an annual performance bonus (“Annual Bonus”) as follows: # for calendar 2015, the Annual Bonus shall be equal to the sum of # One Hundred Twenty Thousand Dollars ($120,000), plus # in the discretion of the Compensation Committee (the “Committee) of the Board of Directors, an additional bonus which, if awarded, is expected to be in the range of Fifty Thousand Dollars to One Hundred Thousand Dollars ($50,000-$100,000), # in the discretion of the Committee, at the end of each of 2016 and 2017, and any subsequent Renewal Term, a bonus which, if awarded, is expected to be in the range of One Hundred Thousand Dollars ($100,000) to Three Hundred Thousand Dollars ($300,000). All bonuses shall be paid within ninety (90) days after the end of the applicable year of the Term.
Notwithstanding any provision herein to the contrary, an Annual Bonus may be deferred pursuant to an Annual Bonus Deferral Election only if and to the extent such Annual Bonus qualifies as “performance-based compensation” within the meaning of Treasury Regulation Section 1.409A-1(e) for such Bonus Accrual Year, unless such Annual Bonus is payable to a Participant who participates in the McDonald’s Corporation Executive Retention Replacement Plan (the “ERRP”).
“Annual Bonus Plan” means the annual bonus plan established by the Board in which members of management participate.
Discretionary Bonus. For each calendar year during the Employment Period, Executive shall be eligible to receive a discretionary annual bonus subject to the terms of the bonus plan established by the Board (the “Annual Bonus”). As of the Effective Date, the Executive’s annual target bonus opportunity shall be equal to 100% of Base Salary (the “Target Bonus”), based on the achievement of performance goals established by the Board. For the 2018 calendar year, Executive will be eligible for a prorated Annual Bonus determined by multiplying the Annual Bonus (if any) by a fraction, the numerator of which is equal to the number of days Executive works in calendar year 2018 and the denominator of 365.
During the Subsequent Period, your annual base salary, target annual cash bonus award and target value of your long-term incentive awards will be determined by the Compensation Committee of the Board (the “Compensation Committee”) prior to the commencement thereof; provided that in no event will your annual base salary, annual bonus target, annual bonus payment, target value of your annual long-term incentive award or annual long-term incentive award be less than that paid or granted by the Company to Christopher Kubasik (assuming you remain employed for the full fiscal year in respect of which such bonus or award is earned). Notwithstanding the foregoing, the Compensation Committee will retain discretion to increase, but not decrease, the amount of your annual base salary, annual bonus target, annual bonus payment, target value of your annual long-term incentive award and your annual long-term incentive award at any time during the Initial Period and Subsequent Period, provided that any adjustment applied to such amounts will be equally applied to Christopher Kubasik’s annual base salary, annual bonus target, annual bonus payment, target value of his annual long-term incentive award and his annual long-term incentive award, as applicable. Commencing January 1, 2020, you will be eligible for benefits and perquisites at levels no less favorable than those provided to Christopher Kubasik.
#Annual Bonus. Executive is subject to an annual bonus at the discretion of the Board, which bonus is initially being targeted for up to 35% of the annualized amount of Base Salary.
2.3Rules for Bonus Deferral Elections. Bonus Deferral Elections shall be made in accordance with Section 4 below. The first Annual Bonuses that may be deferred pursuant to an Annual Bonus Deferral Election made under [Section 2.2(a)] of this amendment and restatement of the Plan shall be the Annual Bonus for 2016 Bonus Accrual Year that, in the absence of a Bonus Deferral Election, would be paid in the first quarter of 2017. The Officer Committee may, in its sole discretion, impose such additional terms and conditions on Annual Bonus Deferral Elections, including imposing specified minimum and maximum deferral percentages that a Deferred Bonus Eligible Employee may elect.
Annual Bonus Amount: The three year average of the annual awards paid to the Executive under the Kimberly-Clark Corporation Executive Officer Achievement Award Program or the Kimberly-Clark Corporation Management Achievement Award Program, as applicable, or any successor or additional plan (the “Bonus Program”). The three year average of the annual awards paid to the Executive will be determined based on the higher of the three year period consisting of either # the year in which the Relevant Date occurred (or, if the bonus is not yet paid as of the Relevant Date, for the preceding year) and the two preceding years or, # the year of the Qualified Termination of Employment (or, if the bonus is not yet paid as of the Qualified Termination of Employment, for the preceding year) and the two preceding years. If an Executive has been paid less than three years of annual awards the Annual Bonus Amount will be determined based on the average dollar amount of the annual awards paid in prior years to the Executive under the Bonus Program. If an Executive has not received any prior payment of annual awards, the Annual Bonus Amount under the Bonus Program will be determined as follows:
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