Common use of Annual Cash Performance Bonus Clause in Contracts

Annual Cash Performance Bonus. (i) Prior to or within sixty (60) days of the beginning of each calendar year during the Term (each a “Performance Period”), the Committee and the Executive shall agree on an objective performance criteria dashboard (with respect to the performance of the Executive and REIT) that will serve as the basis for determining an annual cash performance bonus (the “Annual Performance Bonus”). Commencing with the Performance Period that begins at 12:00 AM, January 1, 2012, the Executive shall have a target Annual Performance Bonus and the opportunity to earn a maximum Annual Performance Bonus (the “Target Bonus” and the “Maximum Bonus,” respectively), each set as a percentage of Base Salary and as established annually by the Committee. No Target Bonus shall be determined or payable for any part of 2010 or 2011. The Annual Performance Bonus earned by the Executive for any Performance Period shall be paid within sixty (60) days after the end of the applicable Performance Period, provided the Executive is employed on the last day of such Performance Period, except as provided in Sections 7(a) and 7(d) below.