Annual Performance Incentive Plan Clause Samples

The Annual Performance Incentive Plan clause establishes a framework for awarding employees additional compensation based on their achievement of specific performance goals over a one-year period. Typically, this clause outlines eligibility criteria, the metrics or targets used to assess performance, and the process for determining and distributing incentive payments. Its core practical function is to motivate employees to meet or exceed organizational objectives by directly linking a portion of their compensation to measurable results.
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Annual Performance Incentive Plan. Subject to the terms and conditions of this Agreement, once a year during the Initial Term, Executive shall receive an annual performance incentive bonus award equal to no less than 100% of his annual base salary, plus up to an additional 40% of his annual base salary (the amount of which shall be the “Target Amount”), such amount to be determined by Company based upon Company results and performance of Executive. After the Initial Term, annual performance incentive bonus awards will be in an amount determined by the Compensation Committee of the Board of Directors and based on the performance of the Company and the Executive. Notwithstanding the foregoing, for as long as the Company continues to participate in the ACE Group short-term incentive program, Executive will be eligible to participate in such plan, pursuant to its terms, as may be in effect from time to time .
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Annual Performance Incentive Plan. Subject to the terms and conditions of this Agreement, once a year during the Initial Term, Executive shall receive an annual performance incentive bonus award which will range from 0 to 200% of his annual base salary, such amount to be determined by the Compensation Committee of the Board of Directors and to be based on the performance of the Company and the Executive. Notwithstanding the foregoing, for as long as the Company continues to participate in the ACE Group short-term incentive program, Executive will be eligible to participate in such plan, pursuant to its terms, as may be in effect from time to time .
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Annual Performance Incentive Plan. Executive shall be eligible to participate in the Company’s annual incentive program.
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Annual Performance Incentive Plan. Subject to the terms and conditions of this Agreement, the Executive shall be eligible to receive an Annual Performance Incentive Award in an amount determined by the Compensation Committee of the Board of Directors. The amount of the Annual Performance Incentive Award, if any, payable to the Executive after his termination of employment shall be determined in accordance with Section 10. Any Annual Performance Incentive Award payable to the Executive pursuant to this Section 6 shall be paid to him at such time and in such form as such awards are typically paid to other employees of ACE.
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Annual Performance Incentive Plan. Subject to the terms and conditions of this Agreement, once a year during the Initial Term, with respect to years ending before the end of the Initial Term, the Compensation Committee of the Board (the “Compensation Committee”) will annually consider awarding a cash bonus to the Executive within the range of 300% of his annual salary (a “Target Bonus”). The Compensation Committee will annually take into account any factors it deems relevant, including, without limitation, the Company’s and the Executive’s performance, and grant the Executive a cash bonus above or below the Target Bonus. The Executive’s annual bonus opportunities will, subject to the evaluation of individual performance, be consistent with other executive officers of the Company.
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Related to Annual Performance Incentive Plan

  • Performance Incentive 4.10.1 If the Seller delivers Coal to the Purchaser in excess of ninety percent (90%) of the ACQ in a particular Year, the Purchaser shall pay the Seller an incentive (“Performance Incentive”/ “PI”), to be determined as follows: PI = P x Additional Deliveries x Multiplier Where: PI = The Performance Incentive payable by the Purchaser to the Seller P = The Base Price of Highest Grade, as shown in Schedule II Additional Deliveries = Quantity [in tonnes] of Coal delivered by the Seller in the relevant Year in excess of 90% of the ACQ. Multiplier shall be 0.15 for Additional Deliveries between 90%-95% of ACQ and 0.30 for Additional Deliveries in excess of 95% of ACQ. 4.10.2 With respect to part of a Year in which the term of this Agreement begins or ends, the relevant quantities in Clause 4.10.1, except the Multiplier, shall apply pro-rata. 4.10.3 Within thirty (30) days of expiry of a Year, the Seller shall submit an invoice to the Purchaser with respect to the PI payable in terms of Clause 4.10.1 and the Purchaser shall pay the amount so due within thirty (30) days of the receipt of the invoice. In the event of non-payment of PI by the due date, the Seller shall have the right to suspend Coal supplies without absolving the Purchaser of its obligations under this Agreement.

  • Performance Incentives As a bonus, to supplement Associate Head Coach’s compensation, as set out herein, the University agrees to pay the following sums upon attainment of each specified goal, provided the Program is in compliance with all Governing Athletics Rules and University Rules, and there are no pending or active NCAA or __________ Conference investigations or major violations of which Associate Head Coach knew or should have known. Associate Head Coach must also complete the _________ [insert sport] season as Associate Head [Men’s/Women’s] [delete if sport is football] __________ Coach to receive any performance incentives for that season. Payment will be made to Associate Head Coach within 60 days after goal is accomplished. (a) $_________ in any contract year in which the team wins the __________ Conference championship. (b) $_________ in any contract year in which the team participates in post-season NCAA competition. (c) $_________ for each game that the team wins in NCAA post-season competition. (d) $_________ in any contract year in which the team wins the NCAA championship.]

  • Annual Performance Bonus During the Employment Term, the Executive shall be entitled to participate in the STIP, with such opportunities as may be determined by the Chief Executive Officer in his sole discretion (“Target Bonuses”), and as may be increased (but not decreased, except for across-the-board reductions generally applicable to the Company’s senior executives) from time to time, and the Executive shall be entitled to receive full payment of any award under the STIP, determined pursuant to the STIP (a “Bonus Award”).

  • Annual Performance Review The Employee’s performance of his duties under this Agreement shall be reviewed by the Board of Directors or a committee of the Board of Directors at least annually and finalized within thirty (30) days of the receipt of the annual audited financial statements. The Board of Directors or a committee of the Board of Directors shall additionally review the base salary, bonus and benefits provided to the Employee under this Agreement and may, in their discretion, adjust the same, as outlined in Addendum B of this Agreement, provided, however, that Employee’s annual base salary shall not be less than the base salary set forth in Section 4(A) hereof.

  • Annual Incentive Plan Executive shall be entitled to participate fully in the Company's 1996 Management Incentive Compensation Plan, as amended (the "MICP"), and as may be further amended, modified, or replaced, from time to time, in accordance with the terms and conditions set forth herein and therein.