Additional Incentive Compensation Sample Clauses
The Additional Incentive Compensation clause establishes the terms under which an employee or contractor may receive extra financial rewards beyond their base salary or standard compensation. Typically, this clause outlines specific performance targets, milestones, or company achievements that must be met to trigger the additional payment, such as exceeding sales goals or completing projects ahead of schedule. Its core function is to motivate higher performance by directly linking extra compensation to measurable results, thereby aligning individual efforts with organizational objectives.
Additional Incentive Compensation. During the term of this Agreement, the Executive shall also be entitled to participate in other executive incentive compensation arrangements, similar to the incentive compensation arrangements now in effect for executives of the Company pursuant to which executives are paid an annual bonus; provided, however, that prior to a Change in Control of the Company the participation of the Executive in such arrangements shall mean that the Executive is eligible for an incentive award but shall not obligate the Company to make any incentive award or pay any incentive compensation to Executive; provided further, however, that after a Change in Control of the Company, the Executive must be paid an annual bonus that is at least as large as the highest bonus paid to the Executive in any year during the three years immediately prior to a Change in Control.
Additional Incentive Compensation. In recognition of ▇▇. ▇▇▇▇▇▇▇▇▇▇’▇ past and future integral involvement in and contribution to all aspects of Immunomedics’ scientific and creative activities, the Company shall make the following payments to ▇▇. ▇▇▇▇▇▇▇▇▇▇ as additional incentive compensation (“Additional Incentive Compensation”).
(a) The Additional Incentive Compensation payments to which ▇▇. ▇▇▇▇▇▇▇▇▇▇ is entitled include:
Additional Incentive Compensation. Subject to the provisions of Section 6 hereof, as additional incentive compensation (the "Additional Incentive Compensation") for his services during the Initial Employment Period and the Renewal Employment Period (if any) the Executive will be paid with respect to each Fiscal Year during such Period(s), commencing with respect to Fiscal Year 1998, an amount, in addition to the Salary and Incentive Compensation, equal to two and one-half (2.5%) of the Pre-tax Income of the Employer for such Fiscal Year in excess of the greater of $2,700,000 or the prior Fiscal Year's Pre-tax Income.
Additional Incentive Compensation. In addition to the Incentive Compensation, the Company agrees to consider granting options to the Employee (the "Option") in the future to purchase additional shares of Class A Common Stock in the same manner as additional grants may be given to other employees of the Company, i.e. as part of a bonus, etc. Any additional option grants shall be approved by the Compensation Committee of the Board of Directors.
Additional Incentive Compensation. (i) As additional compensation, the Consultant shall be entitled to a one-time fee (the "Additional Incentive Compensation") with respect to (A) each acquisition of a business operation by the Company or its subsidiaries introduced or negotiated by the Consultant or any of their affiliates, and/or (B) each disposition of a business operation by the Company or its subsidiaries negotiated by the Consultant or any of their affiliates. The Additional Incentive Compensation shall be paid at the closing of the acquisition or disposition of any such business operation. The Additional Incentive Compensation shall be a cash sum equal to the following percentages of the purchase price (which on acquisitions or dispositions of assets shall also include the book value of the assumed liabilities, and on acquisitions or dispositions of stock shall also include liabilities of the acquired entity that are required to be paid with funds provided by the Company or any of its subsidiaries in connection with such acquisition) for the acquisition or disposition: PURCHASE PRICE PERCENTAGE -------------- ---------- $1 to $10,000,000 2.50% $10,000,001 to $50,000,000 1.75% $50,000,001 and over 1.00% By way of illustration, an acquisition or disposition with a purchase price of $60,000,000 would generate Additional Incentive Compensation of $1,050,000 (2.50% of the first $10,000,000, 1.75% of the next $40,000,000 and 1.00% of the remaining $10,000,000. Notwithstanding the foregoing, the Additional Incentive Compensation payable pursuant to this Section 3(b)(i) shall be offset dollar-for-dollar by the amount of advisory fees paid by the Company to an advisory firm in connection with such acquisition or disposition. This Section 3(b)(i) shall not apply to any transaction (a "Sale of the Company") which is (x) the sale of all, or substantially all, of the Company's consolidated assets in any single transaction or series of related transactions; (y) the sale or issuance, or series of related sales or issuances, of equity securities of the Company in any single transaction or series of related transactions which results in any person or group of affiliated persons (other than affiliates of the Consultant) owning (on a fully diluted basis) more than 50% of the Company's securities having ordinary voting power to elect directors outstanding at the time of such sale or issuance or such series of sales and/or issuances; or (z) any merger or consolidation of the Company with or into another ...
Additional Incentive Compensation. In addition to his Base --------------------------------- Salary Employee shall be paid additional incentive compensation in such an amount, and based upon the accomplishment of such performance objectives, as may be determined by the Compensation Committee of the Board from time to time.
Additional Incentive Compensation. For each year (twelve months) of the Term of this Agreement, Employee shall receive an additional compensation incentive in accordance with the terms set forth in Schedule A, attached hereto.
Additional Incentive Compensation. In addition to the Fixed Annual Compensation provided hereunder, the Company shall provide Consultant with such additional incentive compensation ("Additional Incentive Compensation"), and shall include but not be limited to the following:
Additional Incentive Compensation. For each year (twelve months) of the Term of this Agreement, Employee shall receive, as additional compensation, an incentive based on the Pre-tax Profit of S&A Purchasing Corp. and will be as follows: $ 320,000 $ 5,000 $ 350,000 $ 10,000 $ 380,000 $ 15,000 $ 400,000 $ 20,000 $ 450,000 $ 25,000 $500,000 and up $ 35,000
i) The Company may (but shall not be obligated to), at any time and from time to time, grant to the Employee an increase or increases in the incentive compensation, otherwise payable pursuant to this Section, but such increase or increases, if any, shall not be deemed to alter, modify, waive or otherwise affect any other term, covenant or condition of this Agreement. Any incentive due, pursuant to the terms of this paragraph, shall be paid by Company within 60 days of each anniversary of the Commencement Date, subject to audit adjustments. The incentive described above is exclusive and not additive, by way of example, if the pre-tax profit of the Company is $400,000, then the total incentive earned would be $20,000.
Additional Incentive Compensation. As additional compensation, the Manager will be entitled to a one-time fee with respect to the acquisition or disposition of any business operation by the Company or its subsidiaries introduced or negotiated by the Manager or its affiliates or with respect to any other transaction not in the ordinary course of business, including any public or private debt or equity financing or unusual efforts extended or results obtained by the Manager on behalf or for the benefit of the Company or its subsidiaries ("Additional Incentive Compensation"). The Additional Incentive Compensation will be paid at the closing of any such transaction. The amount of any Additional Incentive Compensation will be determined through good faith negotiations between the Board and the Manager. If the Board and the Manager are unable to agree upon the amount of Additional Incentive Compensation, the Additional Incentive Compensation amount will be determined by arbitration in Miami, Florida in accordance with the rules of the American Arbitration Association, which determination will be final. The parties will share equally the cost of arbitration.