Example ContractsClausesAnnual Equity Bonus
Annual Equity Bonus
Annual Equity Bonus contract clause examples

Annual Equity Bonus. Commencing with fiscal year 2021, the Executive Chairperson shall be eligible to receive, to the extent earned based on individual and corporate performance as determined by the Compensation Committee, an annual equity performance bonus (an “Equity Bonus”) in respect of each fiscal year that ends during the Term. The type of award shall be determined by the Compensation Committee in its sole discretion. Subject to the Executive Chairperson’s continued services through the date of grant, the amount earned in respect of any Equity Bonus shall be determined by the Committee after the end of the fiscal year for which such Equity Bonus is granted and shall be granted to the Executive Chairperson on or prior to March 15 of such following year. Notwithstanding anything in this Agreement, the Committee may, in its sole discretion, provide for payment of the Equity Bonus in cash as opposed to equity or equity-based compensation, subject to similar vesting conditions.

Annual Equity Bonus. Commencing with fiscal year 2021, the Executive shall be eligible to receive, to the extent earned based on individual and corporate performance as determined by the Compensation Committee, an annual equity performance bonus (an “Equity Bonus”) in respect of each fiscal year that ends during the Term. The type of award shall be determined by the Compensation Committee in its sole discretion. Subject to the Executive’s continued employment through the date of grant, the amount earned in respect of any Equity Bonus shall be determined by the Compensation Committee after the end of the fiscal year for which such Equity Bonus is granted and shall be granted to the Executive on or prior to March 15 of such following year. Notwithstanding anything in this Agreement, the Compensation Committee may, in its sole discretion, provide for payment of the Equity Bonus in cash as opposed to equity or equity-based compensation, subject to similar vesting conditions. With respect to each Equity Bonus, # with respect to the portion of such Equity Bonus that consists of options to purchase Class A Common Stock, par value $0.01 (the “Common Stock”), the exercise price per share of Common Stock subject thereto will equal the fair market value of one share of Common Stock on the date of grant, as determined by the Compensation Committee in its sole discretion, subject to applicable law and the terms of the vTv 2015 Omnibus Incentive Plan, as the same shall be in effect from time to time (the “vTv Plan”); # subject to the Executive’s continued services hereunder, each such grant will vest and, if applicable, become exercisable with respect to 33.33% of the shares of Common Stock subject thereto on each of the first three anniversaries of the applicable grant date, and # the award will have other

Annual Equity Bonus. Commencing with fiscal year 2019, the Executive shall be eligible to receive, to the extent earned based on individual and corporate performance as determined in the discretion of the Compensation Committee, an annual equity performance bonus (an “Equity Bonus”) for each fiscal year that ends during the Term. The type of award shall be determined by the Compensation Committee in its sole discretion. If awarded, the Equity Bonus shall be granted to the Executive on or prior to March 15 of such following year. Notwithstanding anything in this Agreement, the Compensation Committee may, in its sole discretion, provide for payment of an Equity Bonus in cash as opposed to equity or equity-based compensation, subject to similar vesting conditions. With respect to the 2018 Fiscal Year Grant (defined below) and each Equity Bonus, # the portion of such 2018 Fiscal Year Grant and Equity Bonus that consists of options to purchase Common Stock shall have an exercise price per share of Common Stock equal to the fair market value of one share of Common Stock on the date of grant, as determined by the Compensation Committee in its sole discretion, subject to applicable law and the terms of the vTv 2015 Omnibus Incentive Plan, as the same shall be in effect from time to time (the “vTv Plan”); # subject to the Executive’s continued services hereunder, each such grant will vest and, if applicable, become exercisable with respect to 33.33% of the shares of Common Stock subject thereto on each of the first three anniversaries of the applicable grant date, and # the award will have other customary terms and conditions as are consistent with the vTv Plan and with applicable law.

Equity Bonus. On or within ten days after the Effective Date the Executive shall receive an equity performance bonus (an “Equity Bonus”) equal to an option to purchase 500,000 shares of Class A common stock, par value $0.01 per share of

Equity Bonus. For each Fiscal Year Executive shall receive an annual equity incentive award in the form of restricted shares (the “Restricted Stock”) of the Company’s common stock, $0.0001 par value per share (“Common Stock”), under the 2017 Incentive Award Plan, as amended (the “2017 Incentive Award Plan”), or a successor plan (the “Equity Bonus”) in the amount of Five Hundred Thousand Dollars ($500,000), based on the grant date value of any such award, provided that the Company achieves the Adjusted Funds From Operations benchmark (as described in # above) for such Fiscal Year as set forth in the Bonus Criteria. Solely in the event that the Company either # exceeds the Bonus Criteria for a particular Fiscal Year, or # does not achieve the Bonus Criteria for a particular Fiscal Year, the Compensation Committee may review the discretionary Equity Bonus on an annual basis and, in its discretion, increase (in the case of (c)(i) of this paragraph) or decrease to as low as zero (in the case of (c)(ii) of this paragraph) the Equity Bonus for that Fiscal Year. Any Equity Bonus earned for each Fiscal Year shall be granted following the completion of the Company’s annual audit but not later than June 30 following the end of such Fiscal Year, but only if Executive remains employed through the end of such Fiscal Year. The Equity Bonus to be paid for any Fiscal Year will be recommended by the Compensation Committee to the Board for its approval. Each Equity Bonus shall vest according to the following schedule: ten percent (10%) shall vest on the date of grant, ten percent (10%) shall vest on the first anniversary of the date of grant, ten percent (10%) shall vest on the second anniversary of the date of grant, ten percent (10%) shall vest on the third anniversary of the date of grant, ten percent (10%) shall vest on the fourth anniversary of the date of grant, ten percent (10%) shall vest on the fifth anniversary of the date of grant, ten percent (10%) shall vest on the sixth anniversary of the date of grant, ten percent (10%) shall vest on the seventh anniversary of the date of grant, ten percent (10%) shall vest on the eighth anniversary of the date of grant, and ten percent (10%) shall vest on the ninth anniversary of the date of grant, in each case provided that the Executive is still employed by the Company. All other terms and conditions applicable to such Equity Bonus shall be determined by the Compensation Committee and, if any such Equity Bonus is granted, such terms and conditions shall be no less favorable than those that apply to similarly situated executive officers of the Company under the 2017 Incentive Award Plan or any successor plan. The aggregate of the Equity Bonus and the Cash Bonus shall be referred to herein as the “Bonus”.

ANNUAL BONUS. With respect to each full calendar year during the Employment Term, the Executive shall be eligible to earn an annual, performance-based bonus (an “Annual Bonus”) with a target bonus value equal to fifty percent (50%) of the Executive’s Base Salary (the “Target Bonus”) based upon the achievement of performance targets, which shall be established by the Board (or a committee thereof) in consultation with the Executive within the first 90 days of each calendar year during the Employment Term, with the actual amount of the Annual Bonus for a particular year determined by the Board (or a committee thereof) in its discretion. The Board (or a committee thereof) shall consider the Executive’s performance in the entire 2020 calendar year without regard to the effective date when determining the Executive’s Annual Bonus for the 2020 calendar year. Subject to Section 8 below, in order to be eligible for an Annual Bonus, the Executive must remain employed for the entire calendar year for which the performance targets will have been set. Any Annual Bonus earned by the Executive will be paid no later than March 15 of the calendar year immediately following the calendar year in which the Annual Bonus is being measured. The Executive’s Target Bonus shall be subject to review by the Board (or a committee thereof) at least annually and may be increased, but not decreased, from time to time by the Board.

Annual Bonus. An annual cash bonus award opportunity, equal to at least the annual cash bonus award opportunity in effect immediately prior to the Change in Control. Any annual bonus earned by the Executive shall be paid to him after the end of the fiscal year to which it relates; provided that in no event shall the Executive’s annual bonus be paid later than March 15 of the fiscal year following the fiscal year for which it was earned.

Annual Bonus. Executive shall be eligible for a discretionary “Annual Bonus” in accordance with Company’s Named Executive Officers Incentive Plan as in effect from time [[Organization A:Organization]] time (or a successor thereof) (the “NEO Incentive Plan”) at a target rate of 60% of his Base Salary and a maximum rate of 80% of his Base Salary, subject [[Organization A:Organization]] satisfaction of applicable performance ratings and other conditions as determined by the Company from time [[Organization A:Organization]] time. Executive’s bonus shall be paid in a single lump sum cash payment not later than June 15 following the conclusion of the calendar year in which such bonus is earned; provided, however, that if the annual audit for such calendar year has not been issued by Company’s outside auditors by said June 15, then payment shall be made within thirty (30) days following the issuance of such audit, but in no event shall payment be made later than the end of the calendar year following the calendar year in which such bonus is earned. The Annual Bonus for any year shall be pro rated for partial years and shall be subject [[Organization A:Organization]] the terms and conditions of the NEO Incentive Plan.

ANNUAL BONUS. Employee will be eligible to receive an annual calendar year bonus based upon Employee’s and the Company’s achievement of certain individual and Company goals that will be set for Employee by the Board or its designee (the “Annual Bonus”). The amount of the target Annual Bonus will be equal to thirty-five percent (35%) of Employee’s then-current Base Salary as of the date of the payment; provided that the actual amount of the Annual Bonus may be greater or less than such target amount. The Board or its designee will have the sole discretion to set the applicable individual and Company goals, to determine whether the goals have been met, and to determine the amount of the Annual Bonus. The Annual Bonus for any given year, if any is earned, will be paid in accordance with, and subject to, the Company’s policies and procedures in effect from time to time. Employee must be employed by the Company on December 31 of the bonus year in order to receive the Annual Bonus for that year.

Annual Bonus. Executive shall participate in any annual bonus plan that the Board or its designee may approve for the senior managers of the Company. In addition to Executive’s base salary, Executive may be eligible to earn, for each fiscal year of the Company ending during the term of Executive’s employment with the Company, an annual cash performance bonus under the Company’s bonus plan, as approved from time to time by the Board. Executive’s target bonus under any such annual bonus plan shall be forty percent (40%) of Executive’s base salary actually paid for the year to which such annual bonus relates (the “Target Bonus”). Executive’s actual annual bonus will be determined on the basis of Executive’s and/or the Company’s or its affiliates’ attainment of financial or other performance criteria established by the Board or its designee in accordance with the terms and conditions of such bonus plan. Except as otherwise provided in this Agreement, Executive must be employed by the Company on the date of payment of such annual bonus in order to be eligible to receive such annual bonus, unless considered eligible for some portion or all of such annual bonus by the Board or its Compensation Committee. Executive hereby acknowledges and agrees that nothing contained herein confers upon Executive any right to an annual bonus in any year, and that whether the Company pays Executive an annual bonus and the amount of any such annual bonus will be determined by the Company in its sole discretion. Executive’s annual bonus for 2021 shall be prorated for the portion of such year that elapses following the Effective Date.

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