Common use of Annual Cash Bonus Compensation Clause in Contracts

Annual Cash Bonus Compensation. Executive shall be eligible to participate in the Bonus Plan during the term of this Agreement. Executive’s bonus will be subject to Executive’s achievement of performance criteria established annually by the Compensation Committee: 1.1 For Threshold level, Executive shall receive 75% of his Annual Salary as bonus compensation; 1.2 For Target level, Executive shall receive 100% of his Annual Salary as bonus compensation; and 1.3 For Maximum level, Executive shall receive 150% of his Annual Salary as bonus compensation. For purpose of the Annual Bonus, Annual Salary means the Annual Salary paid to the Executive during the calendar or portion of the calendar year covered by the bonus. Any bonus compensation in excess of 100% of Executive’s Annual Salary may be paid, in whole or in part, at the option of the Executive, in shares of the Company’s common stock. Executive’s performance criteria shall be established annually by the Compensation Committee. For each fiscal year, Executive’s bonus, if any, will be paid to Executive in a lump sum on or before seventy five (75) days after the end of such fiscal year.

Annual Cash Bonus Compensation. Executive shall be eligible to participate in the Bonus Plan during the term of this Agreement. Executive’s bonus will be subject to Executive’s achievement of performance criteria established annually by the Compensation Committee: 1.1 For Threshold level, Executive shall receive 7550% of his Annual Salary as bonus compensation; 1.2 For Target level, Executive shall receive 10075% of his Annual Salary as bonus compensation; and 1.3 For Maximum level, Executive shall receive 150100% of his Annual Salary as bonus compensation. For purpose of the Annual Bonus, Annual Salary means the Annual Salary paid to the Executive during the calendar or portion of the calendar year covered by the bonus. Any bonus compensation in excess of 100% of Executive’s Annual Salary may be paid, in whole or in part, at the option of the Executive, in shares of the Company’s common stock. Executive’s performance criteria shall be established annually by the Compensation Committee. For each fiscal year, Executive’s bonus, if any, will be paid to Executive in a lump sum on or before seventy five (75) days after the end of such fiscal year.

Annual Cash Bonus Compensation. Executive shall be eligible to participate in the Bonus Plan during the term of this Agreement. Executive’s bonus will be subject to Executive’s achievement of performance criteria established annually by the Compensation Committee: 1.1 For Threshold level, Executive shall receive 75% of his Annual Salary as bonus compensation; 1.2 For Target level, Executive shall receive 100125% of his Annual Salary as bonus compensation; and 1.3 For Maximum level, Executive shall receive 150200% of his Annual Salary as bonus compensation. For purpose of the Annual Bonus, Annual Salary means the Annual Salary paid to the Executive during the calendar or portion of the calendar year covered by the bonus. Any bonus compensation in excess of 100% of Executive’s Annual Salary may be paid, in whole or in part, at the option of the Executive, in shares of the Company’s common stock. Executive’s performance criteria shall be established annually by the Compensation Committee. For each fiscal year, Executive’s bonus, if any, will be paid to Executive in a lump sum on or before seventy five (75) days after the end of such fiscal year.