Common use of Annual Discretionary Cash Bonus Clause in Contracts

Annual Discretionary Cash Bonus. For each fiscal year during the Employment Period, Executive shall be eligible to receive an annual discretionary cash bonus (the “Annual Bonus”) for the services rendered by Executive under this Agreement. The payment and amount of the Annual Bonus, if any, will be determined by the Compensation Committee of the Board (the “Compensation Committee”) in its sole discretion, based on Executive’s individual performance and Company performance, in each case measured against performance goals and targets established by the Compensation Committee. During the Employment Period, Executive’s Annual Bonus target shall not be less than one hundred percent (100%) of Executive’s Base Salary for the applicable fiscal year (the “Target Bonus”). The Target Bonus for the fiscal year ending December 31, 2021 shall be pro-rated for the period from June 8, 2021 through December 31, 2021. The amount of the Annual Bonus, if any, will be determined as of the end of each fiscal year during the Employment Period and shall be paid as soon as reasonably practicable after the end of each fiscal year to which the bonus relates, but in no event later than 2-1/2 months after the end of such fiscal year. Subject to the Compensation Committee’s discretion, and Section 3 of this Agreement, in no event shall Executive be eligible to receive an Annual Bonus, or any portion thereof, unless Executive is employed in good standing by the Company both at the time the amount of the Annual Bonus, if any, is determined by the Board or Compensation Committee, and at the time such Annual Bonus, as so determined, is paid.

Annual Discretionary Cash Bonus. For each fiscal year during the Employment Period, commencing with the January 1, 2020 fiscal year, Executive shall be eligible to receive an annual discretionary cash bonus (the “"Annual Bonus”") for the services rendered by Executive under this Agreement. The payment and amount of the Annual Bonus, if any, will be determined by the Compensation Committee of the Board (the “"Compensation Committee”") in its sole discretion, based on Executive’s 's individual performance and Company performance, in each case measured against performance goals and targets established by the Compensation Committee. During the Employment Period, Executive’s 's Annual Bonus target shall not be less than one hundred seventy percent (10070%) of Executive’s 's Base Salary for the applicable fiscal year (the “"Target Bonus”"). The Target Bonus for the fiscal year ending December 31, 2021 shall be pro-rated for the period from June 8, 2021 through December 31, 2021. The amount of the Annual Bonus, if any, will be determined as of the end of each fiscal year during the Employment Period and shall be paid as soon as reasonably practicable after the end of each fiscal year to which the bonus relates, but in no event later than 2-1/2 112 months after the end of such fiscal year. Any Annual Bonus with respect to the fiscal year commencing January l, 2020 shall be prorated (on a daily basis relative to 366) based on the Start Date. Subject to the Compensation Committee’s 's discretion, and Section 3 of this Agreement, in no event shall Executive be eligible to receive an Annual Bonus, or any portion thereof, unless Executive is employed in good standing by the Company both at the time the amount of the Annual Bonus, if any, is determined by the Board or Compensation Committee, and at the time such Annual Bonus, as so determined, is paid.

Annual Discretionary Cash Bonus. For each fiscal year during the Employment Period, Executive shall be eligible to receive an annual discretionary cash bonus (the “Annual Bonus”) for the services rendered by Executive under this Agreement. The payment and amount of the Annual Bonus, if any, will be determined by the Compensation Committee of the Board (the “Compensation Committee”) in its sole discretion, based on Executive’s individual performance and Company performance, in each case measured against performance goals and targets established by the Compensation Committee. During the Employment Period, Executive’s Annual Bonus target shall not be less than one one-hundred percent (100%) of Executive’s Base Salary for the applicable fiscal year (the “Target Bonus”). The Target Bonus for the fiscal year ending December 31, 2021 shall be pro-rated for the period from June 8, 2021 through December 31, 2021. The amount of the Annual Bonus, if any, will be determined as of the end of each fiscal year during the Employment Period and shall be paid as soon as reasonably practicable after the end of each fiscal year to which the bonus relates, but in no event later than 2-1/2 months after the end of such fiscal year. Subject to the Compensation Committee’s discretion, and Section 3 of this Agreement, in no event shall Executive be eligible to receive an Annual Bonus, or any portion thereof, unless Executive is employed in good standing by the Company both at the time the amount of the Annual Bonus, if any, is determined by the Board or Compensation Committee, and at the time such Annual Bonus, as so determined, is paid.