Annual Discretionary Incentive Bonus Opportunity. Employee will have a graduated annual, cash incentive bonus opportunity of up to 100% of Base Salary for performance at or below target and up to an additional 50% of Base Salary for performance in excess of target. Performance will be measured against annual financial targets approved by the Compensation Committee of the Board of Directors of the Company which, in the Committee’s discretion, may be intended to qualify the cash incentive bonus as performance-based compensation under Code Section 162(m). Actual bonus amounts paid will be determined as follows:
(i) For performance below 80% of target, no bonus will be payable.
(ii) For performance from 80% to 100% of target, a bonus equal to 70% to 100% of Base Salary will be payable, pro rata based on performance level achieved from 80% to 100% of target.
(iii) For performance from 100% to 120% of target, a bonus equal to 100% to 150% of Base Salary will be payable, pro rata based on performance level achieved from 100% to 120% of target. No additional bonus amount will be payable for performance above 120% of target. The incentive bonus payable under this Section 5(a) will be paid in cash within 2 and 1/2 months of the end of each fiscal year.
Annual Discretionary Incentive Bonus Opportunity. Employee will have a graduated annual, cash incentive bonus opportunity of 100% of Base Salary for performance at target (and less or no bonus for performance less than target) and up to 250% of Base Salary (or such higher percentages as the Compensation Committee may determine) for performance in excess of target. Performance will be measured against annual financial targets approved by the Compensation Committee that, in the Compensation Committee’s discretion, may be intended to qualify the cash incentive bonus as performance-based compensation under Code Section 162(m). Actual bonus amounts paid for particular levels of performance will be as determined by the Compensation Committee, and such bonus amounts will be paid in cash within 2-1/2 months after the end of each fiscal year.
Annual Discretionary Incentive Bonus Opportunity. Employee will have a graduated annual cash incentive bonus opportunity of 100% of Base Salary for performance at target and up to 250% of Base Salary (or such higher percentages as the Compensation Committee may determine) for performance in excess of target. Performance will be measured against annual financial targets approved by the Compensation Committee that, in the Compensation Committee’s discretion, may be intended to qualify the cash incentive bonus as performance-based compensation under Code Section 162(m). Actual bonus amounts paid for particular levels of performance will be as determined by the Compensation Committee, and such bonus amounts will be paid in cash within 2-1/2 months after the end of each fiscal year.
Annual Discretionary Incentive Bonus Opportunity. Employee will have a graduated annual, cash incentive bonus opportunity of 100% of Base Salary for performance at target (and less or no bonus for performance less than target) and up to 250% of Base Salary (or such higher percentages as the Compensation Committee may determine) for performance in excess of target. Performance will be measured against annual financial targets approved by the Compensation Committee. Actual bonus amounts paid for particular levels of performance will be as determined by the Compensation Committee, and such bonus amounts will be paid in cash within 2-1/2 months after the end of each fiscal year.
Annual Discretionary Incentive Bonus Opportunity. Employee will have a graduated annual, cash incentive bonus opportunity of up to 110% of Base Salary for performance at or below target and up to 200% of Base Salary (or such higher percentages as the Compensation Committee may determine) for performance in excess of target. Performance will be measured against annual financial targets approved by the Compensation Committee which, in the Compensation Committee’s discretion, may be intended to qualify the cash incentive bonus as performance-based compensation under Code Section 162(m). Actual bonus amounts paid for particular levels of performance will be as determined by the Compensation Committee, and such bonus amounts will be paid in cash within 2-1/2 months after the end of each fiscal year.
