Common use of Annual Cash Bonus Earned Clause in Contracts

Annual Cash Bonus Earned. Executive will be entitled to receive, as Executive’s 2023 Annual Cash Bonus, an amount ranging from 0% to 200% of Executive’s Target Cash Bonus, based (i) 35% on the level of Relative XXX achievement during the Annual Cash Bonus Measurement Period, subject to adjustment based on Company XXX (the “XXX Component”), (ii) 35% on the level of Relative TSR achievement during the Annual Cash Bonus Measurement Period, subject to adjustment based on Company TSR (the “TSR Component”), and (iii) 30% on the level of achievement of the Strategic Goals during the 2023 calendar year (the “Strategic Goals Component”), as described herein, and subject to continued employment through December 31, 2023 (subject to the terms of the Agreement). The total amount of the 2023 Annual Cash Bonus payable to Executive will be equal to Executive’s Target Cash Bonus amount multiplied by the sum of (x) 35% multiplied by the percentage of the XXX Component payable based on the table below, subject to adjustment based on Company XXX, (y) 35% multiplied by the percentage of the TSR Component payable based on the table below, subject to adjustment based on Company TSR, and (z) 30% multiplied by the Strategic Goals achievement percentage based on the Compensation Committee’s determination as described in more detail below. The 2023 Annual Cash Bonus shall not exceed 200% of the Target Cash Bonus.