Annual Incentive Compensation/Bonus. The Company has established an annual incentive bonus program (the “Bonus”). For the duration of this Agreement, the Executive will be eligible for the Bonus, payable as and when Bonuses payable to other executive officers of the Company are paid. The amount available to be paid to Executive (except as provided in the following sentence), and the time and form of payment of bonuses, will be determined and approved by the Compensation Committee of the Board of Directors of the Holding Company (“Board”). For the fiscal years of the Company ending April 30, 2012 and April 30, 2013, Executive shall be eligible for a Bonus, the maximum amount of which shall be equal to percent ( %) of the Base Salary paid to Executive as of the last day of each fiscal year. For all fiscal years of the Company beginning on or after May 1, 2013, Executive’s eligibility for the Bonus shall be determined on a basis consistent with other named executive officers of the Company (as defined under the Securities Exchange Act of 1934).
Annual Incentive Compensation/Bonus. The Company has established an annual incentive bonus program (the “Bonus”). For the duration of this Agreement, the Executive will be eligible for the Bonus, payable as and when Bonuses payable to other executive officers of the Company are paid. The amount available to be paid to Executive (except as provided in the following sentence), and the time and form of payment of bonuses, will be determined and approved by the Compensation Committee of the Board of Directors of the Holding Company (“Board”). For the fiscal years of the Company ending April 30, 2012 and April 30, 2013, Executive shall be eligible for a Bonus, the maximum amount of which shall be equal to thirty percent (30%) of the Base Salary paid to Executive as of the last day of each fiscal year. However, Executive shall be entitled to receive a minimum lump sum Bonus with respect to the fiscal year ending April 30, 2012 that shall be not less than $50,000. For all fiscal years of the Company beginning on or after May 1, 2013, Executive’s eligibility for the Bonus shall be determined on a basis consistent with other named executive officers of the Company (as defined under the Securities Exchange Act of 1934).
Annual Incentive Compensation/Bonus. As further compensation:
(a) The Executive will continue to participate in the Company’s Executive Incentive Bonus Plan for calendar year 2010, in accordance with the terms and conditions of such plan in effect on the Agreement Date. In particular, the Executive shall be eligible under such plan for a cash bonus (the “2010 Annual Bonus”) in the target amount of two hundred seventy-five thousand US dollars (US$275,000). The 2010 Annual Bonus actually paid under such plan, if any, will be based on the level of achievement of the applicable performance goals in effect on the Agreement Date, with the threshold and maximum cash bonus percentages equal to fifty percent (50%) of target (US$137,500) and one hundred thirty percent (130%) of target (US$357,500), respectively, all as determined by the Board reasonably and in good faith.
(b) For fiscal year 2011 and each subsequent fiscal year of the Company that begins during the Term, the Executive will participate in an annual bonus plan of the Company and/or its affiliates pursuant to which the Executive will be entitled to receive a cash bonus (an “Annual Bonus”) based on terms and conditions to be determined by the Board (in consultation with the Executive and consistent with this Agreement), including, but not limited to, with respect to performance goals and target, threshold and maximum annual percentages. The terms and conditions will be communicated to the Executive in writing within ninety (90) days following the beginning of the fiscal year to which performance for the applicable Annual Bonus relates. The amount of the Annual Bonus, if any, paid to the Executive for any year will be determined based upon the extent to which the applicable performance goal(s) specified by the Board are achieved (or exceeded) at threshold, target or maximum levels and will be adjusted for under- or over-performance, all as determined by the Board reasonably and in good faith. The target Annual Bonus for each fiscal year shall be no less than two hundred seventy-five thousand US Dollars (US$275,000). Any Annual Bonus or 2010 Annual Bonus earned by the Executive during the Term shall be paid to him as soon as reasonably practicable after the end of the year for which it is earned, but in no event later than the 15th day of the third month following the year for which it is earned.
Annual Incentive Compensation/Bonus. The Company has established an annual incentive bonus program (the “Bonus”). For the duration of this Agreement beginning with the fiscal year beginning May 1, 2015, the Executive will be eligible for the Bonus, payable as and when Bonuses payable to other executive officers of the Company are paid. The amount available to be paid to Executive, and the time and form of payment of bonuses, will be determined and approved by the Compensation Committee of the Board. For all fiscal years, the maximum amount of the Bonuses shall be equal to forty percent (40%) of the Base Salary paid to Executive as of the last day of each fiscal year, and Executive’s eligibility for the Bonus shall be determined on a basis consistent with the executive officers of the Company (as defined under the Securities Exchange Act of 1934).
Annual Incentive Compensation/Bonus. The amount of Executive’s annual incentive compensation bonus as described in Section 2.1 and Exhibit A of the Employment Agreement shall be equal to an amount up to fifty percent (50%) of Executive’s base salary in effect at the time the bonus award is made. Receipt of the annual incentive compensation bonus is subject to the terms and conditions set forth in the Employment Agreement (including Exhibit A thereto).
Annual Incentive Compensation/Bonus. The Company has established an annual incentive bonus program (the “Bonus”). For the duration of this Agreement, the Executive will be eligible for the Bonus, payable as and when Bonuses payable to other executive officers of the Company are paid. The amount available to be paid to Executive (except as provided in the following sentence), and the time and form of payment of bonuses, will be determined and approved by the Compensation Committee of the Board. For the partial remaining fiscal year of the Company ending April 30, 2014, Executive shall be entitled to receive a minimum lump sum Bonus not less than $50,000. For all fiscal years of the Company beginning on or after May 1, 2014, Executive shall be eligible for a Bonus, the maximum amount of which shall be equal to fifty percent (50%) of the Base Salary paid to Executive as of the last day of each fiscal year, and Executive’s eligibility for the Bonus shall be determined on a basis consistent with the named executive officers of the Company (as defined under the Securities Exchange Act of 1934).
Annual Incentive Compensation/Bonus. The Company has established an annual incentive bonus program (the “Bonus”). For the duration of this Agreement beginning with the fiscal year beginning May 1, 2014, the Executive will be eligible for the Bonus, payable as and when Bonuses payable to other executive officers of the Company are paid. The amount available to be paid to Executive, and the time and form of payment of bonuses, will be determined and approved by the Compensation Committee of the Board. For all fiscal years, the maximum amount of the Bonuses shall be equal to fifty percent (50%) of the Base Salary paid to Executive as of the last day of each fiscal year, and Executive’s eligibility for the Bonus shall be determined on a basis consistent with the named executive officers of the Company (as defined under the Securities Exchange Act of 1934). The Bonus for the fiscal year beginning May 1, 2014 shall be pro-rated based on the extent to which the Company achieves the performance goals for that year, multiplied by a fraction, the numerator which is equal to the number of days in the fiscal year from October 10, 2014 through April 30, 2015 (assuming that the Date of Termination does not occur before April 30, 2015) and the denominator of which is equal to 365.
Annual Incentive Compensation/Bonus. The Company has established an annual incentive bonus program (the “Bonus”). For the duration of this Agreement, the Executive will be eligible for the Bonus, payable as and when Bonuses payable to other executive officers of the Company are paid. The amount available to be paid to Executive (except as provided in the following sentence), and the time and form of payment of bonuses, will be determined and approved by the Compensation Committee of the Board of Directors of the Holding Company ("Board"). For the fiscal year of the Company ending April 30, 2016 , Executive shall be eligible for a Bonus, the maximum amount of which shall be equal to $1,068,000 (subject to possible adjustment based on salary increases subsequently made available to other named executive officers of the Company as defined under the Securities Exchange Act of 1934). For all fiscal years of the Company beginning on or after May 1, 2016, Executive’s eligibility for the Bonus shall be determined on a basis consistent with other named executive officers of the Company, giving effect, if applicable, to the nominal Base Salary that began to be paid during the fiscal year of the Company ending April 30, 2016.
Annual Incentive Compensation/Bonus. The Employee shall be eligible for annual incentive compensation as determined by the Compensation Committee of the Board (the “Compensation Committee”) taking into account the recommendation of the Chief Executive Officer, payable each year of employment in such amounts as may be determined and approved by the Compensation Committee. The Employee shall be entitled to receive such cash bonuses, performance share awards and options to purchase common shares, par value $0.01 per share, of the Company (the “Common Shares”) as the Board or the Compensation Committee as the case may be shall approve, in its sole discretion, including, without limitation, options, performance share awards and cash bonuses contingent upon the Employee’s performance and the achievement of specified financial and operating objectives during each year or other applicable period. For each year during the Term, the Employee’s total eligible incentive compensation target award shall be the sum of and applicable to and payable in each of (x) a cash bonus between 80% and 110% of the Employee’s annual base salary and (y) performance shares and/or options with a fair market value at the time of grant equal to between 80% and 110% of the Employee’s annual base salary. Except as otherwise provided herein, in order to receive any incentive compensation payments payable pursuant to this Section, the Employee must be actively employed by the Company on the date on which such incentive compensation payments scheduled to be paid to participants in the plan.
Annual Incentive Compensation/Bonus. The Company shall provide the Executive with the opportunity to earn an annual cash bonus under the Company's current annual incentive compensation plan for executives or a replacement plan therefor at a level commensurate with his position, provided, however that the minimum annual target award payable upon the achievement of reasonably attainable objective performance goals shall be at least 65% of Base Salary, with a maximum payment of two hundred percent (200%) of Executive's target. The Executive's participation in the annual incentive compensation bonus plan shall commence as of January 1, 2003.
