2011 Annual Bonus. You will remain eligible for consideration of an annual bonus for 2011 under the Company’s annual bonus program, with any bonus amount to be determined by the Compensation Committee of the Company’s Board of Directors consistent with the treatment of other eligible executives and to be paid on the regular annual bonus payment date.
2011 Annual Bonus. Provided that Executive remains employed by the Company through December 31, 2011, the Company shall pay Executive an annual bonus for the Company’s 2011 fiscal year (the “2011 Annual Bonus”) in an amount that is not less than 90% of Executive’s Base Salary, irrespective of whether any applicable performance objectives for such fiscal year are achieved. A portion of the 2011 Annual Bonus equal to $1,000,000 minus Executive’s Base Salary (the “2011 Cash Bonus”) shall be paid to Executive in cash no later than the last day of the applicable two and one-half month short-term deferral period with respect to such payment, within the meaning of Treasury Regulation Section 1.409A-1(b)(4). The excess of the total 2011 Annual Bonus over the 2011 Cash Bonus shall be paid to Executive in the form of an award of fully vested Contract Stock for a number of shares of Company common stock determined by dividing such excess amount by the Fair Market Value of a share of the Company’s common stock on the date on which such Contract Stock is granted. Such Contract Stock shall be granted to Executive no later than April 2, 2012 (with the exact date of grant determined by the Company in its sole discretion) and shall be subject to the terms and conditions set forth in a Contract Stock Agreement substantially in the form attached as Exhibit A hereto and the Plan.
2011 Annual Bonus. For the calendar year 2011, you will be eligible to receive the applicable bonus set forth below upon fully leasing (as demonstrated by a fully executed and enforceable lease agreement) the following properties: NEC Property – Lenexa KS $50,000 NEC Property – Elk Grove, IL $50,000 NEC Property – Worcester, MA $50,000 Verizon Property – Columbia, SC $100,000 You will earn the applicable bonus if the applicable property is fully leased during 2011 and you are employed by the Company on the date the property is leased. Bonus will be paid within 10 days of the date in which the tenant takes possession of the property, which is commonly referred to as the effective date of the lease.
2011 Annual Bonus. The Company shall, subject to standard payroll deductions and applicable tax withholding requirements, pay Executive an amount equal to 100% of Executive’s target bonus for calendar year 2011 which amount equals $125,000 (the “Bonus Payment”).
2011 Annual Bonus. Provided that Executive remains employed by the Company through December 31, 2011, the Company shall pay Executive an annual bonus for the Company’s 2011 fiscal year (the “2011 Annual Bonus”) in an amount that is not less than $540,000, irrespective of whether any applicable performance objectives for such fiscal year are achieved. The parties acknowledge and agree that, in August 2011, the Company paid Executive $270,000 in cash, which represented one-half of the minimum 2011 Annual Bonus. The remainder of the 2011 Annual Bonus shall be paid to Executive as follows: (i) $130,000 shall be paid to Executive in cash no later than March 15, 2012, and (ii) an additional bonus payment of at least $140,000 shall be paid to Executive in the form of an award of fully vested Contract Stock for a number of shares of Company common stock determined by dividing the denominated dollar value of such bonus amount by the Fair Market Value of a share of the Company’s common stock on the date on which such Contract Stock is granted. Such Contract Stock shall be granted to Executive no later than April 2, 2012 (with the exact date of grant determined by the Company in its sole discretion) and shall be subject to the terms and conditions set forth in the Plan and a Contract Stock Agreement substantially in the form attached as Exhibit C hereto.
