Annual Incentive Bonus. In addition, you will be eligible to be considered for an incentive bonus for each fiscal year of the Company. The bonus (if any) will be awarded based on objective or subjective criteria established by the Company’s Chief Executive Officer and approved by the Company’s Board of Directors or an authorized committee thereof. The target amount of your annual incentive bonus shall be equal to 60% of your Annual Base Salary and you may be able to earn up to two-times such targeted amount; for clarity, any bonus for the fiscal year in which your employment begins will be prorated, based on the number of days you are employed by the Company during that fiscal year. To the extent the Company determines that you earned an annual bonus for a fiscal year, such bonus shall be subject to the usual, required withholdings and deductions. Your annual bonus target will be subject to review and adjustments will be made to it based upon the Company’s normal performance review practices. Any bonus for a fiscal year will be paid within two and one-half months after the end of that fiscal year, but only if you are employed by the Company on the last day of the fiscal year to which the bonus relates.
Annual Incentive Bonus. Following the end of each fiscal year and subject to the approval by the Company’s Board of Directors in its sole discretion, you will be eligible to earn an incentive bonus, based on your performance and the Company’s performance, each during the applicable fiscal year, and subject to your continued employment in good standing on the date of payment of such incentive bonus. Your target annual incentive bonus opportunity shall be up to 40% of your annualized base salary. Your target annual incentive bonus opportunity for your first fiscal year will be pro-rated in accordance with the Company’s policy.
Additionally, you will be eligible to earn a discretionary annual bonus (the "Annual Bonus") at an annual target amount of 60% of your Base Salary. Whether any Annual Bonus is awarded will be based upon the Company's assessment of your performance and the Company's attainment of goals as set by the Board of Directors in its sole discretion. Following the close of each fiscal year, the Company will determine in its sole discretion whether it will award you an Annual Bonus and the amount of any such Annual Bonus. No amount of the Annual Bonus is guaranteed, and in addition to the other conditions for being awarded such compensation, you must be an employee in good standing on the Annual Bonus payment date to be eligible to earn and receive an Annual Bonus. No partial or prorated bonuses will be provided. The Annual Bonus, if any, will be paid in accordance with the Company's standard payroll practices, including the withholding of any applicable deductions and taxes. Notwithstanding the foregoing, for fiscal year 2021, provided you remain employed in good standing through the end of the year, you will be eligible to receive an Annual Bonus, in an amount as determined by the Board of Directors based on goals set by the Board of Directors, provided such amount shall be no less than 60% of your Base Salary actually earned by you in 2021 based on your Start Date.
Additionally, you will be eligible to earn a discretionary annual bonus (the "Annual Bonus") at an annual target amount of 40% of your base salary. Whether any Annual Bonus is awarded will be based upon the Company's assessment of your performance and the Company's attainment of goals as set by the Board of Directors in its sole discretion. Following the close of each fiscal year, the Company will determine in its sole discretion whether it will award you an Annual Bonus and the amount of any such Annual Bonus. No amount of the Annual Bonus is guaranteed, and in addition to the other conditions for being awarded such compensation, you must be an employee in good standing on the Annual Bonus payment date to be eligible to earn and receive an Annual Bonus The Annual Bonus, if any, will be paid on an annual basis, less applicable payroll deductions and withholdings, as soon as practicable after the end of the calendar year for which it was earned, but in no event will it be paid later than March 15 of the year following the fiscal year for which it was earned.
Annual Bonus. For each fiscal year ending during Executive’s employment, Executive will be eligible to earn an annual bonus. The target amount of that bonus will be 50% percent of Executive's Base Salary for the applicable fiscal year. The actual bonus payable with respect to a particular year will be determined by the Committee, based on the achievement of corporate and individual performance objectives established by the Committee. Any bonus payable under this paragraph will be paid within 2 ½ months following the end of the applicable fiscal year and will only be paid if Executive remains continuously employed by the Company through the actual bonus payment date.
You will be eligible to receive an annual bonus for the Company’s 2020 fiscal year with a targeted amount equal to 25% of your Base Salary, and an annual bonus (the “Performance Bonus”) for the Company’s 2021 fiscal year, 2022 fiscal year and 2023 fiscal year with a targeted amount equal to 50% of your Base Salary for the fiscal year. The annual bonus for fiscal 2020, if any, will be determined in the discretion of the Compensation Committee of the Board of Directors. Each Performance Bonus, if any, will be based on the extent to which performance goals established by the Company for each fiscal year have been met. Those performance goals will be based on your individual performance and the performance of the Company, including goals that may relate to subsidiaries or business units of the Company; provided, however, that the final payout of the Performance Bonus will remain subject to the discretion of the Company. Each Performance Bonus, if any, shall be paid within 40 days following the issuance by the Company of financial statements for the fiscal year in respect of which such bonus is payable. You must be employed by the Company on the last day of the applicable fiscal year to be eligible for the fiscal 2020 annual bonus and for each Performance Bonus.
Bonus: You will be eligible for an annual target performance bonus of 40% of your annual salary, subject to your achievement of specified performance targets determined by the Board (the “Bonus”). Any Bonus for the fiscal year in which employment begins will be prorated, based on the number of days you are employed by the Company. You must be employed by September 30th of the year in order to be eligible for a Bonus. Any Bonus for a fiscal year will be paid within 2½ months after the close of that fiscal year, but only if you are still employed by the
You will be eligible to earn an annual performance bonus with a target amount of $100,000.00 (the “Target Amount”) for each full fiscal year that you are employed by the Company, which will be pro-rated based on a partial year of service in 2018. The Target Amount is subject to review and adjustment by the Board or its Compensation Committee in its sole discretion. Any annual performance bonus shall be awarded based on objective or subjective performance criteria determined by the Board or its Compensation Committee in its sole discretion after consultation with you. The Board or its Compensation Committee will determine in its sole discretion the extent to which you and the Company have achieved the performance criteria upon which the bonus is based and the amount of the bonus, which could be below the Target Amount (and may be $0). Any annual performance bonus awarded for any given fiscal year will be paid to you on the date on which annual performance bonuses are paid to all other senior executives of the Company, but in no event later than the date that is two and one-half months following the end of the fiscal year for which the bonus is earned and no longer subject to a substantial risk of forfeiture. You must be employed on the date any bonus is paid in order to earn the bonus. Thus, if your employment ends for any reason prior to the payment date, you will not be eligible for, and will not receive, any bonus.
You will be eligible to earn an annual performance bonus with a target amount of $50,000.00 (the “Target Amount”) for each full fiscal year that you are employed by the Company, which will be pro-rated based on a partial year of service in 2019. The Target Amount is subject to review and adjustment by the Board or its Compensation Committee in its sole discretion. Any annual performance bonus shall be awarded based on objective or subjective performance criteria determined by the Board or its Compensation Committee in its sole discretion after consultation with you. The Board or its Compensation Committee will determine in its sole discretion the extent to which you and the Company have achieved the performance criteria upon which the bonus is based and the amount of the bonus, which could be below the Target Amount (and may be $0). Any annual performance bonus awarded for any given fiscal year will be paid to you on the date on which annual performance bonuses are paid to all other senior executives of the Company, but in no event later than the date that is two and one-half months following the end of the fiscal year for which the bonus is earned and no longer subject to a substantial risk of forfeiture. You must be employed on the date any bonus is paid in order to earn the bonus. Thus, if your employment ends for any reason prior to the payment date, you will not be eligible for, and will not receive, any bonus.
Annual Bonus. For each calendar year that ends during the Employment Period you will be eligible to receive a target annual bonus ("Annual Bonus") of 40% of the Base Salary paid in such calendar year. In 2018, your Annual Bonus will be pro-rated for the portion of the year that you have been employed by the Company. Whether to grant a bonus, and in what amount, are determinations to be made in the discretion of the Company based on a variety of factors including, but not limited to, achievement of objectives established by the Board (and/or the Compensation Committee thereof (the “Compensation Committee”) for the Company and specific annual objectives for your position set by the Board, the Compensation Committee and/or the CEO. Since one of the objectives of the Annual Bonus is employee retention, in order to remain eligible and receive any Annual Bonus, you must be employed through the end of the calendar year and still be employed by the Company at the time it makes bonus payments to employees for that year -- generally during the first quarter of the following year.
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