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

Annual Bonus. Beginning on the Effective Date, Employee will be eligible to be awarded a discretionary annual cash bonus with a target of sixty-five percent (65%) of Employee’s then-current Base Salary, payable subject to standard payroll withholding requirements (“Target Bonus”). Whether or not Employee is awarded any bonus will be dependent upon # the actual achievement by Employee and the Company of the applicable individual and corporate performance goals, as determined by the Board in its sole discretion, and # Employee’s continued employment with the Company through the date any such bonus is paid. The annual cash bonus actually paid may be greater or lesser than the Target Bonus and may be zero. In the event Employee’s Base Salary is increased during an applicable bonus year, any bonus Employee is eligible to receive for that year (as a percentage of Employee’s Base Salary) will be calculated such that the modified Base Salary rate only applies to the period of time from the effective date of the Base Salary adjustment through the end of the applicable bonus year (and the prior Base Salary rate applies to the period before the Base Salary adjustment). The Board will determine in its sole discretion the extent to which Employee has achieved the performance goals upon which the bonus is based and the amount of the bonus, if any.

Annual Bonus. For the Company’s 2021 fiscal year, you will have the opportunity to earn a target annual cash bonus equal to forty percent (40%) of your annual base salary earned during the fiscal year, based on achieving performance objectives established by the Board or Committee, as applicable, in its sole discretion and payable upon achievement of those objectives as determined by the Committee. Unless determined otherwise by the Board or Committee, as applicable, any such bonus will be subject to your continued employment through and until the date of payment, and any such bonus amounts paid will be subject to any applicable withholdings. Your annual bonus opportunity and the applicable terms and conditions may be adjusted from time to time by our Board or the Committee, as applicable, in its sole discretion.

Annual Bonus. The Executive shall be eligible to receive an annual bonus for each fiscal year during the Term, based on the attainment of individual and corporate performance goals and targets established by the Compensation Committee (“Annual Bonus”). Any Annual Bonus shall be paid after the end of the fiscal year to which it relates, at the same time and under the same terms and conditions as the bonuses for other executives of the Company; provided that in no event shall the Executive’s Annual Bonus be paid later than two and a half months after the last day of the fiscal year to which the Annual Bonus relates. The Annual Bonus shall be subject to the terms of the annual bonus plan that is applicable to other executives of the Company, including requirements as to continued employment, subject to the provisions of Sections 6 and 7 below.

Annual Bonus. Executive will be eligible to earn a discretionary annual incentive bonus (“Annual Bonus”) with a target of not less than one hundred percent (100%) of Executive’s then current Base Salary, up to a maximum amount determined in accordance with the terms of the Company’s annual bonus plan (the “Bonus Plan”), based on the achievement of certain performance goals to be determined by the Compensation Committee of the Board in each applicable year in accordance with the terms of the Bonus Plan. Fifty percent (50%) of the Annual Bonus shall be based on annual performance goals and, if earned, shall be payable upon the earlier of # ten (10) business days after the completion of the audit of the Company’s annual financial statements for the calendar year to which such annual performance goals relate or # March 15 of the year following the calendar year to which such annual performance goals relate. Fifty percent (50%) of the Annual Bonus shall be based on quarterly performance goals set in the Bonus Plan. If earned, such quarterly bonus payments shall be paid in the first regular pay period after the filing of the Company’ Form 10-Q for the calendar quarter to which the quarterly performance requirements relate but in no event later than March 15 of the following year. Notwithstanding anything to the contrary, in no event shall the aggregate amounts payable for Executive’s Annual Bonus for any year be less than twenty-five percent (25%) of his then Base Salary.

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. 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”.

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

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 Bonus. For each calendar year ending during the Term, Executive will be eligible to earn an annual bonus (the “Annual Incentive Bonus”), provided that Executive does not earn any Annual Incentive Bonus for the prior completed calendar year if Executive engages in any acts or omissions constituting Cause for termination. The target Annual Incentive Bonus is equal to 65% of Base Salary (the “Target Bonus Amount”), prorated for the calendar year during which Executive is hired. The Target Bonus Amount will be reviewed annually by the Board (or a committee thereof) and may be adjusted upward in the Board’s sole discretion, but not downward during the initial year of the term. The actual amount of the Annual Incentive Bonus with respect to any calendar year will be determined by the Board (or a committee thereof) based on Executive’s and the [[Bank:Organization]] Group’s fulfillment of performance goals established by the Board or the Direct Supervisor with respect to the applicable calendar year. The Annual Incentive Bonus for any calendar year will (if and to the extent earned) be paid no later than the March 15th following the completion of such calendar year. Executive must remain continuously employed with the [[Bank:Organization]] Group through the payment date of the Annual Incentive Bonus in order to earn such Annual Incentive Bonus.

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