Annual Bonus Potential. An annual fiscal year bonus will be considered and recommended, if appropriate, by the supervisor and President/CEO and must be BOD approved. The actual amount shall be at the discretion of the President/BOD based on Employee’s and the Company’s performance and achievement.
Annual Bonus Potential. During fiscal 2011, in further consideration of the Services to be rendered under this Agreement, Executive shall be eligible to receive a cash bonus of up to One Hundred Fifty Thousand Dollars ($150,000) based on the sole discretion of the Board or its Compensation Committee (“Annual Bonus”). For sake of clarity, the 2011 bonus shall not impact the amount of the 2012 bonus referenced below. The Annual Bonus, if any, will be paid to Executive within two and one-half months of the end of the fiscal year with respect to which the Annual Bonus relates. To earn any Annual Bonus, Executive must remain employed with the Company through the end of the fiscal year with respect to which the Annual Bonus relates. During each full fiscal year of the Term (commencing 2012), in further consideration of the Services to be rendered under this Agreement, Executive shall be eligible to receive combined total annual bonus (“Total Potential Bonus”) of up to one hundred percent (100%) of Salary, or an increment thereof, in part upon achievement of goals to be recommended by and approved by the Compensation Committee in its discretion. Fifty percent (50%) of the Total Potential Bonus (the “Annual Performance Target Bonus”) will initially be based on the goals to be determined in the discretion of the Compensation Committee. Fifty percent (50%) of the Total Potential Bonus will be at the sole discretion of the Compensation Committee, currently anticipated to take the form of a bonus for significant overachievement of performance goals. The above-referenced bonuses, if any are earned, will be paid to Executive within two and one-half months of the end of the fiscal year with respect to which the bonus relates. In addition, a portion of the Total Potential Bonus can be awarded to fund overachievement for fiscal year 2011, to the extent not previously authorized pursuant to the current employment agreement of Executive. To earn any bonus, Executive must remain employed with the Company through the end of the fiscal year with respect to which the bonus relates.
Annual Bonus Potential. For fiscal years 2014 and thereafter, provided that Executive remains employed by the Company as CEO for the applicable entire fiscal year, Executive shall be eligible to earn an annual bonus at target each fiscal year of 100% of her then-current base salary, payable in cash and/or in equity of the Company, in accordance with the Company’s annual incentive plan for the CEO and the other executives of the Company as in effect and approved, after considering the input of the CEO with respect to such annual incentive plan, by the Board or the Compensation Committee from time to time. The bonus shall be earned at the close of the relevant fiscal year and will be paid to Executive regardless of whether she is employed on the date the bonus is actually paid, so long as she is employed on the last day of the fiscal year. If a bonus is earned pursuant to the terms of this Section 4.6 for any fiscal year of the Company, it will be paid to Executive following the close of such fiscal year in the ordinary course of business, but no later than 120 days after the close of such fiscal year.
Annual Bonus Potential. You will be eligible for targeted annual bonus compensation of fifty percent (50%) of your annual base salary, with maximum potential for 100% of annual base salary on above-target performance. Bonus criteria and bonus payments will be determined by the Compensation Committee of the Company’s Board of Directors in its sole and absolute discretion. The Compensation Committee shall have the right to modify the percentage of your targeted annual bonus.
Annual Bonus Potential. Employee will be eligible for a bonus, if any, for each calendar year, as determined and approved by the Board, based on Employee’s and the Company’s performance for the calendar year, and Employee’s target bonus initially will be 65% of his base salary. The Board will set the performance targets only after consulting with Employee, and his bonus, if any, for a calendar year will be paid in a lump sum on or before March 15 of the immediately following calendar year or within 10 business days after the financial information required to compute his bonus is available, whichever comes last; provided, however, that (1) the payment of all or a portion of Employee’s bonus for periods on and after the Effective Date shall be deferred until, and to the extent that, the Board determines that such deferral is no longer necessary to preserve the Company’s ability to continue as a going concern, at which point the amount deferred, or the amount of such deferral that the Board determines can be paid, will be paid without interest in a lump sum but (2) the deferral paid to Employee on any date will not exceed a fraction of the amount released at any time by the Board to pay all base salary and bonus deferrals for all executives, former executives, and directors, the numerator of which will be Employee’s unpaid deferrals (including amounts related to service as a director) and the denominator will be the total unpaid deferrals for Employee and all other executives, former executives, and directors. Employee’s right to the payment of his unpaid deferrals under this § 5 shall survive any termination of his employment without regard to the reason for his termination of employment, and any earned bonus and bonus deferrals which remain unpaid at Employee’s death shall be paid in a lump sum as soon as practicable in a lump sum to his estate.
Annual Bonus Potential. During each full fiscal year of the Term (commencing 2012), in further consideration of the Services to be rendered under this Agreement, Executive shall be eligible to receive a combined total annual bonus (“Total Potential Bonus”) of up to one hundred percent (100%) of Salary, or an increment thereof, in part upon achievement of goals to be recommended by the CEO and approved by the Compensation Committee in its discretion. Fifty percent (50%) of the Total Potential Bonus (the “Annual Performance Target Bonus”) will initially be based on the combination of the following goals: (i) to open a specific number of new North American accounts/increase the account (door) base by X% by June 30, 2012 (X% amount to be determined by year end 2011 in the discretion of the Compensation Committee); (ii) to improve overall efficiencies of sales thereby lowering the cost of sales (amount of reduction to be determined by year end 2011 in the discretion of Compensation Committee); (iii) to reduce/maintain slow moving inventories to goal; (iv) to open a specific number of accounts (number to be determined by year end 2011) outside of North America; and (v) to improve sales by X% from September 30, 2011 through December 31, 2012 (improvement X% to be determined by year end 2011) to be recommended by the CEO and approved by the Compensation Committee in its discretion. Fifty percent (50%) of the Total Potential Bonus will be at the discretion of the Compensation Committee, currently anticipated to take the form of a bonus for significant overachievement of performance goals. The above-referenced bonuses, if any are earned, will be paid to Executive within two and one-half months of the end of the fiscal year with respect to which the bonus relates. To earn any bonus, Executive must remain employed with the Company through the end of the fiscal year with respect to which the bonus relates.
Annual Bonus Potential. During the Employment Period, Executive shall be eligible to receive an annual (based on the Company’s fiscal year) bonus in a range of 0 — 150% of Base Salary, based on the Company’s Senior Management Bonus Plan. The Senior Management Bonus Plan for 2009 is attached as Appendix “1” to this Agreement. The Bonus shall be based upon the Company’s annual financial results, as reflected in its audited financial statements, and, when payable, shall consist of a single lump sum cash payment payable within thirty (30) days after the completion of the Company’s audited annual financial statements. The Bonus Plan for 2010 and any subsequent fiscal year shall be determined as follows: Within a mutually agreeable time period prior to the beginning of each fiscal year of the Company, Executive shall submit to the Board for its approval the Company’s operational plan, including a fiscal budget, for the next fiscal year of the Company. The Board shall establish financial targets and set conditions each year based on the approved operational plan (a “Bonus Plan”). The financial targets and conditions established for Executive’s Bonus shall be consistent with those established for other senior executives of the Company. Executive shall receive the percentage of the maximum Bonus specified by the applicable Bonus Plan, depending on whether the Company attains all or a portion of the financial targets established, and meets all of the conditions set under such Bonus Plan for that year. Any of the Company’s financial results that are used to calculate a Bonus shall be taken only from the Company’s audited financial statements for the applicable year.
Annual Bonus Potential. For fiscal years 2015 and thereafter, provided that the Executive remains employed by the Company for the applicable entire fiscal year, the Executive shall be eligible to earn an annual bonus each fiscal year in accordance with the Company’s senior executive incentive plan as in effect and approved by the Board from time to time, except that unless otherwise agreed to by the Parties, the Executive’s payout shall range from 0% to 200% of Executive’s Base Salary, with a target bonus equal 100% of Base Salary.
Annual Bonus Potential. For fiscal years 2018 and thereafter, provided that Executive remains employed by the Company as CEO for the applicable entire fiscal year, Executive shall be eligible to earn an annual bonus at “target” each fiscal year of 100% of her then-current base salary (the “Target Bonus”) and, depending upon plan design that fiscal year, with the potential for a payment for performance below or above target; provided, however, for the fiscal 2018 annual incentive program Executive’s potential award at target will not be pro-rated from the Commencement Date. Each such potential award shall be payable in cash and/or in equity of the Company, in accordance with the Company’s annual incentive plan for that fiscal year as in effect and approved by the Board and/or the Compensation Committee. The annual bonus shall be earned at the close of the relevant fiscal year and will be paid to or earned by Executive regardless of whether she is employed on the date the bonus is actually paid, so long as she is employed on the last day of the applicable fiscal year. If a cash bonus is earned pursuant to the terms of this Section 4.5 for any fiscal year of the Company, it will be paid to Executive following the close of such fiscal year in the ordinary course of business, but no later than 120 days after the close of such fiscal year.
Annual Bonus Potential. During fiscal 2011, in further consideration of the Services to be rendered under this Agreement, Executive shall be eligible to receive a cash bonus of up to Fifty Thousand Dollars ($50,000) based on the sole discretion of the Board (“Annual Bonus”). The Annual Bonus, if any, will be paid to Executive within two and one-half months of the end of the fiscal year with respect to which the Annual Bonus relates. To earn any Annual Bonus, Executive must remain employed with the Company through the end of the fiscal year with respect to which the Annual Bonus relates. During each full fiscal year of the Term (commencing 2012), in further consideration of the Services to be rendered under this Agreement, Executive shall be eligible to receive combined total annual bonus (“Total Potential Bonus”) of up to one hundred percent (100%) of Salary, or an increment thereof, in part upon achievement of goals to be recommended by and approved by the Compensation Committee in its discretion. Fifty percent (50%) of the Total Potential Bonus (the “Annual Performance Target Bonus”) will initially be based on the goals to be determined in the discretion of the Compensation Committee. Fifty percent (50%) of the Total Potential Bonus will be at the sole discretion of the Compensation Committee, currently anticipated to take the form of a bonus for significant overachievement of performance goals. The above-referenced bonuses, if any are earned, will be paid to Executive within two and one-half months of the end of the fiscal year with respect to which the bonus relates. In addition, a portion of the Total Potential Bonus can be awarded to fund overachievement for fiscal year 2011, to the extent not previously authorized pursuant to the current employment agreement of Executive. To earn any bonus, Executive must remain employed with the Company through the end of the fiscal year with respect to which the bonus relates.
