2Annual Bonus. During the Term, the Executive will be eligible to receive an annual bonus with a target of one hundred percent (100%) of Base Salary ("Annual Bonus") in accordance with the achievement of performance metrics, both corporate and personal, as determined by the Board (or a subcommittee thereof) in their sole discretion, acting reasonably, as applicable, at the beginning of the relevant year. Each such Annual Bonus will be payable on such date as is determined by the Board (or a subcommittee thereof), but no later than March 31 of the following fiscal year and in all cases in the calendar year that follows the fiscal year to which the Annual Bonus relates, and will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period. As a condition to being eligible for an Annual Bonus, the Executive must remain actively employed under this Agreement until the date of payment. The Executive acknowledges that: (a) terms of the Annual Bonus may change each fiscal year at the discretion of the Company; (b) the Executive has no expectation that in any fiscal year there will be a guaranteed level of bonus; (c) the amount of the bonus, if any, that the Executive may be awarded may change from year to year; and (d) all bonuses are subject to applicable deductions and withholdings. For greater certainty, except as otherwise stipulated in Article 4 of this Agreement, and except as required by Applicable Employment Standards Legislation, no period of notice of termination, if any, or payment in lieu of notice or Severance Period that is given or ought to have been given pursuant to this Agreement or at law that follows or is in respect of a period after the last date of actual and active employment will be considered as extending the Executive's period of employment for the purposes of determining the Executive's entitlements under this Agreement.
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2Annual Bonus. During the Term, the Executive will be eligible to receive an annual bonus with a target of one hundred sixty percent (10060%) of Base Salary ("“Annual Bonus"”) in accordance with the achievement of performance metrics, both corporate and personal, as determined by the Board (or a subcommittee thereof) in their sole discretion, acting reasonably, as applicable, at the beginning of the relevant year. Each such Annual Bonus will be payable on such date as is determined by the Board (or a subcommittee thereof), but no later than March 31 of the following fiscal year and in all cases in the calendar year that follows the fiscal year to which the Annual Bonus relates, and will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period. As a condition to being eligible for an Annual Bonus, the Executive must remain actively employed under this Agreement until the date of payment. The Executive acknowledges that: (a) terms of the Annual Bonus may change each fiscal year at the discretion of the Company; (b) the Executive has no expectation that in any fiscal year there will be a guaranteed level of bonus; (c) the amount of the bonus, if any, that the Executive may be awarded may change from year to year; and (d) all bonuses are subject to applicable deductions and withholdings. For greater certainty, except as otherwise stipulated in Article 4 of this Agreement, and except as required by Applicable Employment Standards Legislation, no period of notice of termination, if any, or payment in lieu of notice or Severance Period that is given or ought to have been given pursuant to this Agreement or at law that follows or is in respect of a period after the last date of actual and active employment will be considered as extending the Executive's period of employment for the purposes of determining the Executive's entitlements under this Agreement.
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2Annual Bonus. During the Term, the Executive will be eligible to receive an annual bonus with a target of one hundred sixty percent (10060%) of Base Salary ("“Annual Bonus"”) in accordance with the achievement of performance metrics, both corporate and personal, as determined by the Board (or a subcommittee thereof) in their sole discretion, acting reasonably, as applicable, at the beginning of the relevant year. Each such Annual Bonus will be payable on such date as is determined by the Board (or a subcommittee thereof), but no later than March 31 of the following fiscal year and in all cases in the calendar year that follows the fiscal year to which the Annual Bonus relates, and will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period. As a condition to being eligible for an Annual Bonus, the Executive must remain actively employed under this Agreement until the date of payment. The Executive acknowledges that: (a) terms of the Annual Bonus may change each fiscal year at the discretion of the Company; (b) the Executive has no expectation that in any fiscal year there will be a guaranteed level of bonus; (c) the amount of the bonus, if any, that the Executive may be awarded may change from year to year; and (d) all bonuses are subject to applicable deductions and withholdings. For greater certainty, except as otherwise stipulated in Article 4 of this Agreement, and except as required by Applicable Employment Standards Legislation, no period of notice of termination, if any, or payment in lieu of notice or Severance Period that is given or ought to have been given pursuant to this Agreement or at law that follows or is in respect of a period after the last date of actual and active employment will be considered as extending the Executive's period of employment for the purposes of determining the Executive's entitlements under this Agreement.
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2Annual Bonus. During the Term, the Executive will be eligible to receive an annual bonus with a target of one hundred eighty percent (10080%) of Base Salary ("“Annual Bonus"”) in accordance with the achievement of performance metrics, both corporate and personal, as determined by the Board (or a subcommittee thereof) in their sole discretion, acting reasonably, as applicable, at the beginning of the relevant year. Each such Annual Bonus will be payable on such date as is determined by the Board (or a subcommittee thereof), but no later than March 31 of the following fiscal year and in all cases in the calendar year that follows the fiscal year to which the Annual Bonus relates, and will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period. As a condition to being eligible for an Annual Bonus, the Executive must remain actively employed under this Agreement until the date of payment. The Executive acknowledges that: (a) terms of the Annual Bonus may change each fiscal year at the discretion of the Company; (b) the Executive has no expectation that in any fiscal year there will be a guaranteed level of bonus; (c) the amount of the bonus, if any, that the Executive may be awarded may change from year to year; and (d) all bonuses are subject to applicable deductions and withholdings. For greater certainty, except as otherwise stipulated in Article 4 of this Agreement, and except as required by Applicable Employment Standards Legislation, no period of notice of termination, if any, or payment in lieu of notice or Severance Period that is given or ought to have been given pursuant to this Agreement or at law that follows or is in respect of a period after the last date of actual and active employment will be considered as extending the Executive's ’s period of employment for the purposes of determining the Executive's ’s entitlements under this Agreement.
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2Annual Bonus. During the Term, the Executive will be eligible to receive an annual bonus with a target of one hundred eighty percent (10080%) of Base Salary ("“Annual Bonus"”) in accordance with the achievement of performance metrics, both corporate and personal, as determined by the Board (or a subcommittee thereof) in their sole discretion, acting reasonably, as applicable, at the beginning of the relevant year. Each such Annual Bonus will be payable on such date as is determined by the Board (or a subcommittee thereof), but no later than March 31 of the following fiscal year and in all cases in the calendar year that follows the fiscal year to which the Annual Bonus relates, and will be converted from United States dollars to Canadian dollars at the average USD:CAD exchange rate (calculated using the Bank of Canada rates) for the calendar month prior to the calendar month of the applicable pay period. As a condition to being eligible for an Annual Bonus, the Executive must remain actively employed under this Agreement until the date of payment. The Executive acknowledges that: (a) terms of the Annual Bonus may change each fiscal year at the discretion of the Company; (b) the Executive has no expectation that in any fiscal year there will be a guaranteed level of bonus; (c) the amount of the bonus, if any, that the Executive may be awarded may change from year to year; and (d) all bonuses are subject to applicable deductions and withholdings. For greater certainty, except as otherwise stipulated in Article 4 of this Agreement, and except as required by Applicable Employment Standards Legislation, no period of notice of termination, if any, or payment in lieu of notice or Severance Period that is given or ought to have been given pursuant to this Agreement or at law that follows or is in respect of a period after the last date of actual and active employment will be considered as extending the Executive's ’s period of employment for the purposes of determining the Executive's ’s entitlements under this Agreement..
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