Annual Bonus Compensation. During the Term, Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) pursuant to the terms and conditions of the Company’s annual incentive plan 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 Term and may increase such percentage as it may deem advisable (such target annual bonus, as the same may be increased, the “Target Annual Bonus”).
Annual Bonus Compensation. During the Term,Bonus. Executive shall also be eligible to receivereceive, in addition to the Base Salary, an annual bonus (the “Annual Bonus”) pursuanthaving a target amount equal to 55% of Executive's Base Salary ("Target Bonus"), with the terms and conditions of the Company’s annual incentive plan for executive officers (or any successor thereto). Based upon attainment of performance goals predeterminedactual amount being determined by the Compensation Committee,Committee of the Board in its discretion taking into account the Company's performance and Executive's individual performance. In order to receive a Target Bonus, Executive shallmust be entitled to an Annual Bonus payment at a target level of 50% of Executive’s Annual Salary. The Compensation Committee shall reviewemployed by Employer on the target annualdate the bonus percentage during the Term and may increase such percentage as it may deem advisable (such target annual bonus, as the same may be increased, the “Target Annual Bonus”). is paid.
Annual Bonus Compensation.Bonus. During the Term, the Executive shall be eligibleentitled to receive an annualparticipate in the Companys executive bonus plan, under which a discretionary bonus (the “Annual Bonus”Annual Bonus) pursuantmay be awarded by the Board for each calendar year, payable in cash in accordance with, and subject to the terms and conditions of, the Companys then applicable short-term bonus or other cash incentive program (each, a Bonus Program). The Executives aggregate target bonus award for each calendar year will be 30% of his then Base Salary (the Target Annual Bonus). The Executives actual Annual Bonus may range from a minimum amount of 0% to a maximum of 30% of his Base Salary, and will be determined by the Company’s annual incentive plan for executive officers (or any successor thereto). BasedCompany and will be contingent upon the attainment of performance goals predeterminedreasonably established in good faith by the Compensation Committee,Company. The target date for any Annual Bonus compensation payable to the Executive shall be entitledMarch 15 of the calendar year following the calendar year to anwhich such Annual Bonus payment atrelates, subject to the approvals required above. Such Annual Bonuses, if any, are awarded in part to incentivize the Executive to remain in the Companys employ, therefore it is a target levelcondition of 50% of Executive’sany award that the Executive remain employed by the Company through the date the Annual Salary. The Compensation Committee shall review the target annual bonus percentage during the Term and may increase such percentageBonus is paid, except as it may deem advisable (such target annual bonus, as the same may be increased, the “Target Annual Bonus”). set forth in Section 5 herein.
Annual Bonus Compensation.Bonus. During the Term,Employment Period, the Executive shall be eligible to receive an annual target bonus (the “Annual Bonus”(a “Bonus”) pursuantif, as reasonably determined by the Board or, to the terms and conditionsextent delegated by the Board, the Committee one or more of the Company’s annual incentive plan for executive officers (or any successor thereto). Based upon attainment of performance goals predeterminedtargets annually determined by the Compensation Committee,Board or the Committee (“Performance Targets”) is achieved. If all of the Performance Targets are achieved, the Bonus will equal not less than 40 percent of the Executive’s Base Salary (the “Target Bonus”). In the event that less than all of the Performance Targets are met by Executive, the Bonus paid in respect of this paragraph may be less than the Target Bonus. Except as set forth in Section 5(a) hereof, the Executive must be employed by the Company on the day any such earned Bonus is paid which shall be entitled to an Annual Bonus payment atnot later than 2½ months after the end of each calendar year. The Executive’s target bonus opportunity as a target levelpercentage of 50% of Executive’s Annual Salary. The Compensation Committee shall review the target annual bonus percentage during the Term and may increase such percentage as it may deem advisable (such target annual bonus, as the sameBase Salary may be increased,reviewed periodically and adjusted in the sole discretion of the Board. After any such adjustment, the term “Target Annual Bonus”). shall refer to the increased amount.
Annual Bonus Compensation. During the Term,Bonus. Executive shall beis eligible to receive an annual bonus (the “Annual Bonus”) pursuant to the terms and conditions of the Company’s annual incentive plan 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 atearn a target level of 50% of Executive’s Annual Salary. The Compensation Committee shall review the target annual bonus percentage duringof 100% of Executives Base Salary based upon achievement of performance objectives to be determined by the TermCommittee in its sole discretion after conferring with Executive and may increase such percentagepayable upon achievement of those applicable objectives, subject to minimum and maximum limits as it may deem advisable (such target annual bonus, asestablished by the same may be increased, the “Target Annual Bonus”Committee (the Annual Bonus). If the Committee, in its sole discretion, determines the applicable performance objectives are achieved in a manner that would result in a payment of the Annual Bonus (or portion thereof), such amount will be paid when practicable after the Committee determines the relevant performance objectives have been achieved, subject to Executive being employed on the date of payment; provided, however, that if the Employment Term is not extended as a result of a notice from the Company or Executive to the other, Executive only shall be required to be employed on the last day of a performance period in order to be eligible for the annual bonus for such performance period and the annual bonus for such performance period shall be paid no later than 2 1⁄2 months following the end of such performance period . The Committee may modify the structure and performance objectives used for Annual Bonus determinations.
Annual Bonus Compensation. During the Term,Bonus. In addition to his Base Compensation, Executive shall be eligible to receive each year during the Term, a cash incentive payment (Bonus) in an annual bonus (the “Annual Bonus”) pursuantamount determined by the Board based on Executives individual performance, the performance of Company and performance goals established by the Board. The target Bonus shall be an amount equal to 75% of Executives Base Compensation in effect at the terms and conditionstime the Bonus is determined (Target Bonus). Such Bonus, if any, shall be paid not later than March 15 of the Company’s annual incentive plan for executive officers (orcalendar year following the calendar year in which the Bonus was earned. Except as otherwise stated expressly in this Agreement, Executive must be employed with Company through December 31 of the calendar year during which the Bonus is earned to receive any successor thereto). Based upon attainmentpart 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 Term and may increase such percentage as it may deem advisable (such target annual bonus, as the same may be increased, the “Target Annual Bonus”). payment.
Annual BonusIncentive Compensation. During the Term,Employment Period, Executive shall be eligible to receiveparticipate in an annual cash bonus program maintained for senior executive officers of the Company (the “Annual Incentive Program” or the “Plan”), with a minimum target annual bonus equal to 75% of Base Salary (the “Target Bonus”) for each year during the Employment Period in which Executive participates in the Annual Incentive Program; provided, however, that any bonus related to calendar year 2016 # shall be prorated for the period between the Effective Date and December 31, 2016, and # shall not be less than the full amount of the bonus for the prorated period, as calculated per the terms of the Company’s existing Performance Bonus Plan. The actual amount of the annual bonus earned by and payable to Executive for any year or portion of a year, as applicable, shall be determined upon the satisfaction of goals and objectives established by the Compensation Committee pursuant to the Plan, and shall be subject to such other terms and conditions of the Company’s annual incentive plan for executive officers (or any successor thereto). Based upon attainment of performance goals predetermined by the Compensation Committee, ExecutiveAnnual Incentive Program as in effect from time to time, provided that all awards shall be entitled to an Annual Bonus payment atdesigned in a target level of 50% of Executive’s Annual Salary. The Compensation Committee shall reviewmanner such that the target annual bonus percentage duringwill be treated as “qualified performance-based compensation” within the Term and may increase such percentagemeaning of Section 162(m) of the Internal Revenue Code, as it may deem advisable (such target annual bonus, asamended (the “Code”). Each bonus paid under the same mayAnnual Incentive Program shall be increased,paid to Executive no later than March 15th of the “Target Annual Bonus”). calendar year following the calendar year for which the bonus is earned.
Annual BonusIncentive Compensation. During the Term,The Executive shall be eligible to receive ancash incentive compensation as determined by the Board or the Compensation Committee from time to time. Commencing in calendar year 2022, the Executive’s initial target annual bonus (the “Annual Bonus”) pursuant to the terms and conditionsincentive compensation shall be forty percent of the Company’Executive’s Base Salary. The target annual incentive compensation in effect at any given time is referred to herein as “Target Bonus.” The actual amount of the Executive’s annual incentive plan for executive officers (or any successor thereto). Based upon attainmentcompensation, if any, shall be determined in the sole discretion of performance goals predeterminedthe Board or the Compensation Committee. Except as otherwise provided herein or as may be provided by the Board or the Compensation Committee, the Executive shallmust be entitledemployed by the Company on the date such incentive compensation is paid in order to an Annual Bonus payment at a target level of 50% of Executive’s Annual Salary. The Compensation Committee shall review the targetearn or receive any annual bonus percentage during the Term and may increase such percentage as it may deem advisable (such target annual bonus, as the same may be increased, the “Target Annual Bonus”). incentive compensation.
Annual Bonus Compensation. DuringBonus. With respect to each fiscal year that ends during the Employment Term, commencing with fiscal year 2024, the Executive shall be eligible to receive an annuala bonus (the “Annual Bonus”) pursuant to the termsin such amounts and conditionsbased upon achievement of the Company’s annual incentive plan for executive officers (or any successor thereto). Based upon attainment ofsuch corporate and/or individual performance goals predeterminedand other criteria as shall be approved by the Compensation Committee, ExecutiveCommittee from time to time, with a target amount, if such performance and other criteria are achieved, of eighty-five percent (85%) of the Base Salary (the “Target Bonus Amount”), which bonus shall be entitledpaid in a manner consistent with the Company’s bonus practices then in effect. The Target Bonus Amount and the maximum payout for any subsequent renewal Term of the Agreement shall be determined by the Compensation Committee. To be eligible to an Annual Bonus payment atreceive a target level of 50% of Executive’s Annual Salary. The Compensation Committee shall reviewbonus, the target annualExecutive must be employed by the Company on the date the bonus percentage during the Term and may increase such percentage as it may deem advisable (such target annual bonus, as the same may be increased, the “Target Annual Bonus”). is paid.
Annual Incentive Bonus Compensation. During the Term,Plan. With respect to each year during Executive’s employment hereunder, Executive shall be eligible to receive an annual cash incentive bonus (the “Annual Bonus”) pursuant to the terms and conditions of the Company’s annual incentive plan for executive officers (or 2014 Annual Incentive Compensation Plan 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 Term and may increase such percentageplan thereto, as it may deem advisable (suchbe amended from time to time (the “Annual Incentive Plan”). Executive’s target annual bonus, asincentive opportunity under the same mayAnnual Incentive Plan shall be increased,80% of Base Salary (as at the “Targetbeginning of the applicable performance period). Executive has been determined by the Committee (as defined in the Annual Bonus”)Incentive Plan) to be a Participant (as defined in the Annual Incentive Plan) under the Annual Incentive Plan, and Executive’s Performance Goals (as defined in the Annual Incentive Plan) shall be determined by the Committee (as defined in the Annual Incentive Plan) in accordance with Section 5 of the Annual Incentive Plan (or the corresponding section of any successor plan). The Annual Bonus for a year (if any) shall be paid to Executive in accordance with Section 6 of the Annual Incentive Plan (or the corresponding section of any successor plan).
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