Example ContractsClausesIncentive Compensation
Incentive Compensation
Incentive Compensation contract clause examples

Incentive Compensation. During the Term, you will be eligible to receive an annual bonus (your “Bonus”) for each fiscal year of the Company commencing with the fiscal year ending December 31, 2020, pursuant to an annual bonus plan. The amount of the Bonus and the performance goals applicable to the Bonus shall be determined in accordance with the terms and conditions of said bonus plan as in effect from time to time, as determined by the independent members of the Board in sole discretion, based on a recommendation from the CHRC.

Incentive Compensation. Executive shall be eligible to participate in the Company’s Annual Cash Incentive Plan (the “Incentive Plan”). However, the decision to provide any Incentive Plan and terms of any Incentive Plan shall be in the sole and absolute discretion of the Insight Board of Directors Compensation Committee (“Compensation Committee”). For Executive’s Incentive Plan for 2022, the bonus target will be $1,275,000 at 100% attainment of objectives. Incentive compensation for each year will be paid no later than March 15 of the following year. The Company, with approval from the Compensation Committee, reserves the right to change the terms and conditions of the Incentive Plan.

Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s target annual incentive compensation shall be 40% of her Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Incentive Compensation. A Member may elect to reduce up to 100% of his or her Incentive Compensation in exchange for a Thrift Benefit under the Plan. The Bank will credit a Member's Account with an amount equal to # the Incentive Compensation payable to the Member for the pay period, multiplied by the percentage of Incentive Compensation elected by the Member to be deferred into the Plan, then reduced by # the amount of the Member's Incentive Compensation contribution to the Thrift Plan for the pay period, including “catch-up contributions.”

Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual incentive compensation shall be 40 percent of his Base Salary (the “Target Bonus”) and be based on predetermined metrics as determined by the Board or the Compensation Committee. Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Commencing with the 2018 calendar year, the Executive shall be eligible to earn a bonus with respect to each calendar year ending during the Term computed in accordance with the provisions hereafter (an “Annual Bonus”). If the Pre-Bonus Earnings amount is less than or equal to twenty seven million dollars ($27,000,000), the Annual Bonus shall be equal to ten percent (10%) of the positive difference (if any) between the Pre-Bonus Earnings amount for such year less the Bonus Threshold. If the Pre-Bonus Earnings amount is greater than twenty seven million dollars ($27,000,000), the Annual Bonus shall be equal to the sum of # seven hundred thousand dollars ($700,000) and # five percent (5%) of the positive difference between the Pre-Bonus Earnings amount for such year less twenty seven million dollars ($27,000,000). By way of examples, if Pre-Bonus Earnings for any calendar year were # twenty four million dollars ($24,000,000), the Annual Bonus for such calendar year shall be four hundred thousand dollars ($400,000), # twenty eight million dollars ($28,000,000), the Annual Bonus for such calendar year shall be seven hundred fifty thousand dollars ($750,000) and # nineteen million dollars ($19,000,000), the Annual Bonus for such calendar year shall be zero.

Incentive Compensation. During the Term, the Employee shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time, in accordance with Company’s bonus program. The Company will initially target the Employee’s Incentive Bonus at 50% of his Base Salary (pro-rated for 2020 based on the Effective Date). The actual incentive target and any Incentive Bonus is discretionary and will be subject to the Company’s assessment of the Employee’ performance, as well as business conditions at the Company. The Incentive Bonus also will be subject to approval by and adjustment at the discretion of the Board and the terms of any applicable incentive plan. Any Incentive Bonus will be paid by March 15 of the year following the year in which it is earned. Except as otherwise provided in Section 4(b)(i) below or the Company’s bonus program, to earn incentive compensation, the Employee must be employed by the Company on the day such incentive compensation is paid.

Incentive Compensation. During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual incentive compensation shall be 30 percent of the Executive’s Base Salary (the “Target Annual Incentive Compensation”). To earn any incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Incentive Compensation. Subject to the Employee’s compliance with her Employment Agreement, as amended, the Company shall pay the Employee a short-term incentive payment for the 2020 calendar year equal to 50% of the Employee’s base salary, to be paid on the date when the Company pays incentive compensation to its other executives, in accordance with Company’s bonus program.

Incentive Compensation. The Executive shall be eligible to receive an annual discretionary bonus of up to forty percent (40%) of the Executive’s Base Salary (the “Target Bonus”) as determined by the Board or the Compensation Committee from time to time; provided that the Executive will not be eligible for any such bonus for calendar year 2021. The actual amount of the Executive’s annual incentive compensation, if any, shall be determined in the sole discretion of the Board or the Compensation Committee. Any bonus pursuant to this Section that the Executive may receive may vary significantly from year to year. There is no representation that a bonus in one year will be comparable to another year. There is no implied term that, if the amount of any bonus is lower in any subsequent year, the Company will compensate the Executive for such difference. Under no circumstances is the bonus to be considered part of the Base Salary or other regular employment income. The bonus, if any, will be paid when the Company normally pays such bonuses and is not earned or accrued until the bonus payout date. Except as otherwise provided herein, to earn incentive compensation, the Executive must be employed by the Company on the day such incentive compensation is paid.

Next results

Draft better contracts
faster with AllDrafts

AllDrafts is a cloud-based editor designed specifically for contracts. With automatic formatting, a massive clause library, smart redaction, and insanely easy templates, it’s a welcome change from Word.

And AllDrafts generates clean Word and PDF files from any draft.