Annual Incentive/Bonus Award. The Executive will be eligible for an annual bonus or incentive compensation during the Employment Term and the Extended Employment Term, if any, based upon the bonus and performance standards established by the Board of Directors and as determined, with specific regard to the Executive, each year by the Board of Directors. Payment of any and all incentive/bonus awards are totally at the discretion of the Board of Directors and are not assumed to be a guaranteed component of the Executive’s compensation.
Annual Incentive/Bonus Award. TheCompensation. During the Term, Executive willshall be eligible forto receive an annual bonus or(the “Annual Bonus”) pursuant to the terms and conditions of the Company’s annual incentive compensationplan for executive officers (or any successor thereto). Based upon attainment of performance goals predetermined by the Compensation Committee, Executive shall be entitled to an Annual Bonus payment at a target level of 50% of Executive’s Annual Salary. The Compensation Committee shall review the target annual bonus percentage during the Employment Term and may increase such percentage as it may deem advisable (such target annual bonus, as the Extended Employment Term, if any, based uponsame may be increased, the bonus and performance standards established by the Board of Directors and as determined, with specific regard to the Executive, each year by the Board of Directors. Payment of any and all incentive/bonus awards are totally at the discretion of the Board of Directors and are not assumed to be a guaranteed component of the Executive’s compensation. “Target Annual Bonus”).
Annual Incentive/Bonus Award. The Executive will be eligibleIncentive Bonus. During the Term, in addition to Base Salary, for an annual bonus or incentive compensationeach calendar year ending during the Employment TermTerm, the Executive shall participate in, and shall have the Extended Employment Term, if any, based uponopportunity to receive a cash bonus in an amount to be determined in accordance with, the Company’s existing incentive bonus and performance standardsplan or any successor bonus plan, program or arrangement established by the BoardCompany for the benefit of Directors and as determined, with specific regard to the Executive, each year by the Board of Directors. Payment of any and all incentive/bonus awards are totally at the discretion of the Board of Directors and are not assumed to be a guaranteed component of the Executive’s compensation. its executive officers (the “Incentive Bonus Payment”).
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