Example ContractsClauseseffect of plan upon other compensation plansVariants
Effect of Plan Upon Other Compensation Plans
Effect of Plan Upon Other Compensation Plans contract clause examples

Other Bonus Plans. In addition to the Base Salary and the Quarterly Bonus, the Executive shall be entitled to participate in the bonus plan generally made available to other senior salaried corporate employees of the Company, with the calculation to be based on Executive’s Base Salary (excluding the Quarterly Bonus). It is understood that the Company may amend or terminate its general bonus plans at any time in accordance with the terms thereof, provided, however that the level of general bonus provided to Executive in the aggregate is no less favorable than the best benefits to senior executives of the Company. For 2020, the current bonus target for the Executive Bonus is 25% of the Base Salary, assuming the Company meets its budget for 2020.

Bonus. Executive may participate in any Company bonus plan the Company may adopt for senior management subject to the terms, conditions, and any eligibility requirements that may exist in such plan or plans. Executive’s annual incentive compensation under such bonus plan (the “Annual Bonus”) shall be targeted at forty percent (40%) of Executive’s Base Salary (such target, as may be increased by the Board from time to time, the “Target Annual Bonus”). The Annual Bonus payable under the bonus plan shall be based on the achievement of performance goals to be determined by the Board. The payment of any Annual Bonus pursuant to the bonus plan shall be subject to Executive’s continued employment with the Company through the date of payment.

In addition to the Base Salary, during the Term of Employment, Executive is eligible to participate in the Company’s Annual Incentive Plan. Such incentive shall be determined and payable in accordance with the Company's incentive program in effect at the time, subject to change from year to year in the Company’s sole discretion. Executive will participate in the Company’s incentive program and, commencing with Fiscal 2018, Executive’s target bonus under such plan (if all individual and Company performance conditions are met) shall be 55% of Executive’s actual annual base earnings (which shall be the total Base Salary as may be paid during the fiscal year (“Base Earnings”)). The actual award under the incentive program, if any, may be more or less than the target and will be based on Executive’s performance and the performance of the Company and payment will be made in accordance with and subject to the terms and conditions of the incentive program then in effect.

Performance Bonus. During Executive’s employment under this Agreement, Executive will be eligible for a performance bonus, subject to the terms and conditions of the Company Bonus Plan that are applicable to senior executives of the Company. The target amount of Executive’s annual bonus is eighty percent (80%) of Executive’s annual Base Salary (as defined in the Company Bonus Plan as then in effect). For fiscal year 2020 only, Executive’s annual bonus under the Company Bonus Plan will be guaranteed to be at least sixty percent (60%) of the Executive’s Base Salary (as defined in and calculated in accordance with the Company Bonus Plan then in effect) and shall not be adjusted down for failure to meet corporate objectives under the Company Bonus Plan; provided, however, that all other eligibility requirements under the Company Bonus Plan must be met, including without limitation the requirement that Executive remain an employee in good standing on the day such bonus is paid in order to

Bonus. Executive may participate in any Company bonus plan the Company may adopt for senior management subject to the terms, conditions, and any eligibility requirements that may exist in such plan or plans. Executive’s annual incentive compensation under such bonus plan (the “Annual Bonus”) shall be targeted at Forty Percent (40%) of Executive’s Base Salary effective as of January 1, 2021 (such target, as may be increased by the Board from time to time, the “Target Annual Bonus”). The Annual Bonus payable under the bonus plan shall be based on the achievement of performance goals to be determined by the Board. The payment of any Annual Bonus pursuant to the bonus plan shall be subject to Executive’s continued employment with the Company through the date of payment.

In addition to the Base Salary, during the Term of Employment, Executive is eligible to participate in the Company’s Annual Incentive Plan. Such incentive shall be determined and payable in accordance with the Company's incentive program in effect at the time, subject to change from year to year in the Company’s sole discretion. Executive will participate in the Company’s incentive program and Executive’s target bonus under such plan (if all individual and Company performance conditions are met) shall be 40% of Executive’s actual annual base earnings (which shall be the total Base Salary as may be paid during the fiscal year (“Base Earnings”)). The actual award under the incentive program, if any, may be more or less than the target and will be based on Executive’s performance and the performance of the Company and payment will be made in accordance with and subject to the terms and conditions of the incentive program then in effect.

Annual Bonus. In addition to the Base Salary, the Executive shall be eligible, through participation in the Company’s annual bonus plan or other similar plan to the extent then in effect, to earn an annual bonus (the “Annual Bonus”) in each fiscal year during the Employment Period, with a target Annual Bonus of seventy five percent (75%) of Base Salary (the “Target Bonus”), with an opportunity to earn up to one hundred fifty percent (150%) of Base Salary, with the actual payout based on the achievement of annual individual and Company performance objectives established by the Compensation Committee. For calendar year 2020, Executive shall be paid a guaranteed Target Bonus amount pro-rated based on the number of days between the Effective Date and December 31, 2020, which shall be paid in January 2021. In subsequent years, any Annual Bonus shall be paid on or before March 15th of each calendar year immediately following the year in which compensation is earned in accordance with the applicable plan (except as otherwise provided herein).

Bonus. During Executive’s employment under this Agreement, Executive will be eligible for a bonus, subject to the terms and conditions of the Company’s bonus plan, as in effect from time to time (the “Bonus Plan”), which is applicable to senior executives of the Company. The target amount of Executive’s annual bonus is sixty percent (60%) of Executive’s annual Base Salary (as defined in the Company’s Bonus Plan as then in effect). However, payment of the bonus will be conditioned on the Company’s achievement of corporate performance objectives approved by the Company and, if applicable, Executive’s achievement of individual performance metrics to be established annually and

Annual Bonus. In addition to the Base Salary, the Executive shall be eligible, through participation in the Company’s annual bonus plan or other similar plan to the extent then in effect, to earn an annual bonus (the “Annual Bonus”) in each fiscal year during the Employment Period, with a target Annual Bonus of seventy-five percent (75%) of Base Salary (the “Target Bonus”), with an opportunity to earn up to one hundred fifty percent (150%) of Base Salary, with the actual payout based on the achievement of annual individual and Company performance objectives established the Compensation Committee of the Board. For calendar year 2021, Executive’s

Bonus. During Executive’s employment under this Agreement, Executive will be eligible for a bonus, subject to the terms and conditions of the Company’s bonus plan, as in effect from time to time (the “Bonus Plan”), which is applicable to senior executives of the Company. The target amount of Executive’s annual bonus is seventy-five percent (75%) of Executive’s annual Base Salary (as defined in the Company’s Bonus Plan as then in effect). However, payment of the bonus will be conditioned on the Company’s achievement of corporate performance objectives approved by the Company and, if applicable, Executive’s achievement of individual performance metrics to be established annually and

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