Bonus Program Definition

Bonus Program definition

Bonus ProgramÌýmeans this Rayonier Annual Corporate Bonus Program, as it may be modified from time to time by the Committee.

Bonus ProgramÌýmeans a plan or arrangement maintained by a Participating Company for the benefit of a class or category of employees, which provides for the payment of a cash bonus to eligible members of such class or category upon the satisfaction of such conditions as may be provided under such plan or arrangement, provided that the term "Bonus Program" shall not include any arrangement for the payment of sales commissions or other similar payments or awards.

Bonus ProgramÌýmeans the Companyâ€™s Annual Bonus Program, as the same is described on Exhibit A attached hereto and as the same may be amended, replaced, or superseded from time to time.

In such event, the Bonus shall be paid on the date the bonuses are paid to other Executives pursuant to the applicable Bonus Program, without reference to the actual Termination Date.
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The Employee acknowledges that any bonus compensation under the Bonus Program will be discretionary, with the sole discretion resting with the Board or the Compensation Committee.
The Bonus Program is based upon the achievement of the Companyâ€™s annual financial plan.
The criteria and/or goals for the Bonus Program shall be established by the Compensation Committee at the beginning of each fiscal year after consultation with Employee.

Bonus ProgramÌýmeans the particular terms applicable to Bonus Awards for a Performance Period as determined by the Committee not later than the Outside Rules Date.

Bonus ProgramÌýmeans the discretionary bonus program established and approved by the Board or Committee for employees of the Company in similar positions to the Executive. Also, for purposes of this Agreement, the â€œBonusâ€� shall mean a bonus earned, if any, by the Executive on an annual or other performance period basis up to a certain percentage of base salary actually earned and paid, if any, to the Executive during an applicable performance period, or a lesser or an additional amount, as approved by the Board or Committee under the Bonus Program and in all cases based on certain performance criteria; provided that the Executive is actively employed by the Company on the date the bonuses are paid under the Bonus Program, except as provided in this Section 3(a). Notwithstanding anything else in this Agreement, the payments and benefits provided in this Section 3(a) are subject to and conditioned upon the Executive executing (and not revoking) the general release and waiver described below in Section 3(d) and conditioned upon the Executiveâ€™s compliance with the restrictive covenants provided in Sections 5 and 6 hereof. For the avoidance of any doubt or confusion, the Executive shall not be entitled to any payments or benefits provided under this Section 3(a) in the event of any for Good Reason termination of employment by the Executive. Except as provided in this Section 3(a), the Company shall have no additional obligations under this Agreement.

Bonus ProgramÌýhas the meaning set forth in Section 3.

Bonus ProgramÌýmeans this Sale of Business Bonus Program.

Bonus ProgramÌýhas the meaning ascribed to it in SECTION 4.06(H).

Bonus ProgramÌýhas xxx xxxxxxg ascribed to it in Section 4.05(g).