GRMN » Topics » Eligibility for Bonus Payment.

These excerpts taken from the GRMN 10-K filed Feb 25, 2009.
Eligibility for Bonus Payment. Each of the following criteria must be satisfied in order for a Participant to be eligible to receive one or more bonus payments, if any under the Plan:
 
 
(1)
The Company must achieve the Performance Goals as established by the Compensation Committee.
 
 
(2)
Except as expressly provided in this Plan or as otherwise expressly approved by the Compensation Committee, a Participant must be employed on a Full-Time Basis and must be in Good Standing on the applicable bonus payment date in order to be eligible to receive such payment. "Full-Time Basis" means the Participant is regularly scheduled to work 30 or more hours per week and “Good Standing” means the Employee is not the subject of any disciplinary action.
 
 
(3)
If a Participant dies or becomes Disabled (as defined in the Garmin Ltd. 2005 Equity Incentive Plan”) after the end of the Performance Period, the Participant or his or her estate, as the case may be, will remain eligible to receive the respective bonus.
 
Eligibility for Bonus Payment.
Each of the following criteria must be satisfied in order for a Participant to
be eligible to receive one or more bonus payments, if any under the
Plan:

 









 


(1)


The
Company must achieve the Performance Goals as established by the
Compensation Committee.



 









 


(2)


Except
as expressly provided in this Plan or as otherwise expressly approved by
the Compensation Committee, a Participant must be employed on a Full-Time
Basis and must be in Good Standing on the applicable bonus payment date in
order to be eligible to receive such payment. "Full-Time Basis" means the
Participant is regularly scheduled to work 30 or more hours per week and
“Good Standing” means the Employee is not the subject of any disciplinary
action.



 









 


(3)


If
a Participant dies or becomes Disabled (as defined in the Garmin Ltd. 2005
Equity Incentive Plan”) after the end of the Performance Period, the
Participant or his or her estate, as the case may be, will remain eligible
to receive the respective bonus.



 

Eligibility for Bonus Payment.
Each of the following criteria must be satisfied in order for a Participant to
be eligible to receive one or more bonus payments, if any under the
Plan:

 









 


(1)


The
Company must achieve the Performance Goals as established by the
Compensation Committee.



 









 


(2)


Except
as expressly provided in this Plan or as otherwise expressly approved by
the Compensation Committee, a Participant must be employed on a Full-Time
Basis and must be in Good Standing on the applicable bonus payment date in
order to be eligible to receive such payment. "Full-Time Basis" means the
Participant is regularly scheduled to work 30 or more hours per week and
“Good Standing” means the Employee is not the subject of any disciplinary
action.



 









 


(3)


If
a Participant dies or becomes Disabled (as defined in the Garmin Ltd. 2005
Equity Incentive Plan”) after the end of the Performance Period, the
Participant or his or her estate, as the case may be, will remain eligible
to receive the respective bonus.



 

Eligibility for Bonus Payment.
Each of the following criteria must be satisfied in order for a Participant to
be eligible to receive one or more bonus payments, if any under the
Plan:

 









 


(1)


The
Company must achieve the Performance Goals as established by the
Compensation Committee.



 









 


(2)


Except
as expressly provided in this Plan or as otherwise expressly approved by
the Compensation Committee, a Participant must be employed on a Full-Time
Basis and must be in Good Standing on the applicable bonus payment date in
order to be eligible to receive such payment. "Full-Time Basis" means the
Participant is regularly scheduled to work 30 or more hours per week and
“Good Standing” means the Employee is not the subject of any disciplinary
action.



 









 


(3)


If
a Participant dies or becomes Disabled (as defined in the Garmin Ltd. 2005
Equity Incentive Plan”) after the end of the Performance Period, the
Participant or his or her estate, as the case may be, will remain eligible
to receive the respective bonus.



 

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 25, 2009
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