Common use of Annual Incentive Bonuses Clause in Contracts

Annual Incentive Bonuses. In addition to Annual Base Salary, the Employee will be entitled to earn an incentive bonus on an annual basis (the "Annual Bonus") during the Employment Period. The Board will set, on or before the 90th day of such fiscal year, the criteria which will be required to be achieved by the Employee during the fiscal year to earn all or a specified percentage of his Annual Bonus. The maximum Annual Bonus that the Employee may earn is 60%, and the target bonus is 30%, of the Employee's salary paid during the fiscal year. If a Change in Control occurs, the Employee will receive a lump-sum payment on or before the Change in Control Date equal to the Employee's maximum Annual Bonus, prorated with the numerator being the number of months in the fiscal year to the Change in Control Date (including the month in which the Change in Control occurs as a full month) and the denominator being 12. This payment will be in lieu of any right of the Employee to receive an Annual Bonus for the fiscal year in which the Change in Control occurs.

Annual Incentive Bonuses. In addition to Annual Base Salary, the Employee will be entitled to earn an incentive bonus on an annual basis (the "“Annual Bonus"”) during the Employment Period. The Board will set, on or before the 90th day of such fiscal year, the criteria which will be required to be achieved by the Employee during the fiscal year to earn all or a specified percentage of his Annual Bonus. The maximum Annual Bonus that the Employee may earn is 60%, and the target bonus is 30%, of the Employee's ’s salary paid during the fiscal year. If a Change in Control occurs, the Employee will receive a lump-sum payment on or before the Change in Control Date equal to the Employee's ’s maximum Annual Bonus, prorated with the numerator being the number of months in the fiscal year to the Change in Control Date (including the month in which the Change in Control occurs as a full month) and the denominator being 12. This payment will be in lieu of any right of the Employee to receive an Annual Bonus for the fiscal year in which the Change in Control occurs.

Annual Incentive Bonuses. In addition to Annual Base Salary, the Employee will be entitled to earn an incentive bonus on an annual basis (the "“Annual Bonus"”) during the Employment Period. The Board will set, on or before the 90th day of such fiscal year, the criteria which will be required to be achieved by the Employee during the fiscal year to earn all or a specified percentage of his Annual Bonus. The maximum Annual Bonus that the Employee may earn is 6050%, and the target bonus is 3025%, of the Employee's ’s salary paid during the fiscal year. If a Change in Control occurs, the Employee will receive a lump-sum payment on or before the Change in Control Date equal to the Employee's ’s maximum Annual Bonus, prorated with the numerator being the number of months in the fiscal year to the Change in Control Date (including the month in which the Change in Control occurs as a full month) and the denominator being 12. This payment will be in lieu of any right of the Employee to receive an Annual Bonus for the fiscal year in which the Change in Control occurs.