Annual Bonus and Long-Term Incentives. 4.2.1. Subject to terms of this Section 4, each calendar year during the term of this Agreement, the Executive shall be eligible to receive a cash bonus of up to fifty (50%) of her annual Base Salary (for 2011, $190,000 pro-rated based upon actual days employed since the Effective Date) (the “Annual Bonus”), payable in a lump sum in the calendar year following the calendar year to which the bonus relates after the Company completes its annual audit, provided that, for each year after 2011, the applicable performance goals for such calendar year have been achieved. For 2011, the Board shall not establish any performance goals, and the portion of the Annual Bonus eligible for payment shall be determined by the Board (or a /s/ HMG /s/ KK HMG KK committee thereof), in its sole discretion, as soon as practicable after December 31, 2011 after consultation by the Board with the Executive.
Annual Bonus and Long-Term Incentives. During the Term of Employment and commencing with the fiscal year beginning January 1, 2024, Executive shall be eligible to receive a discretionary annual cash bonus (the “Annual Bonus”) with a target bonus opportunity of 125% of Base Salary (“Target Bonus Opportunity”) and maximum bonus opportunity of 218% of Base Salary, based upon Executive’s and Company’s performance as determined by the Board (or a committee thereof) in its sole discretion. The payment of the Annual Bonus, if any, will be paid by March 31 in the calendar year following the calendar year to which the Annual Bonus relates at the same time annual bonuses are paid to other senior executives of the Company, and, except as provided in Section 5(a), (d), and (e) hereof, shall be subject to Executive’s continuing employment in good standing (and not having resigned or given notice of Executive’s resignation or been terminated or received notice of Executive’s termination) with the Company through the payment date of the Annual Bonus. In addition, during the Term of Employment, Executive shall be eligible to participate in long-term incentive plans adopted by the Company or one of its Subsidiaries or Affiliates, as determined by the Board (or committee thereof) in its discretion (“Long-Term Incentives,” and an award thereunder a “Long-Term Incentive Award”), with the form, amount, and terms (including, without limitation, vesting terms) of any such Long-Term Incentive Award awarded to Executive determined by the Board (or committee thereof) in its discretion and subject to Executive’s being employed with the Company on the applicable date of grant.
Annual Bonus and Long-Term Incentives
