Bonus. The Employee shall be eligible for an annual performance bonus (the “Bonus”). The Bonus is a discretionary bonus, payable in either cash compensation or stock option award or a combination of both, at the sole discretion of the Board, that can be modified and is subject to review and annual approval by the Board. The Employee must be employed by the Company on the last day of the fiscal year for which the Bonus is earned. The Bonus will be paid to the Employee no later than March 14th of the year following the year in which the Bonus is earned.

Bonus. TheFor calendar year 2016 and each subsequent calendar year that ends during the Term, Employee shallwill be eligible forto receive an annual performanceperformance-based cash bonus (the “Bonus”“Annual Bonus”). The Bonus is a discretionary bonus, payable in either cash compensation or stock option award or a combinationpayment and amount of both, at the sole discretion of the Board, that can be modified and is subject to review and annual approval by the Board. The Employee must be employed by the Company on the last day of the fiscal year for which the Bonus is earned. Theany Annual Bonus will be paiddetermined by the Board or the Compensation Committee thereof (excluding Employee, if then a Board member), in its sole and absolute discretion, pursuant to the Company’s Executive Annual Incentive Plan or another bonus plan established by the Company, and conditioned upon the achievement of mutually agreed upon objectives for Employee no later than March 14thand for the Company established at the beginning of each calendar year, with a target Annual Bonus equal to sixty percent (60%) of the year followingBase Salary for achievement of 100% of the yearperformance objectives. Any dispute regarding whether Employee has met the objectives shall be determined by the Board or the Compensation Committee thereof (excluding Employee, if then a Board member) in which the Bonus is earned.exercise of its sole discretion.