Base Salary; Annual Bonus. The base salary payable to Employee shall be $365,000 per year (effective January 1, 2001), payable on a regular basis in accordance with the Company's standard payroll procedures but not less than monthly (pro-rated for any year in which Employee is employed for less than the full year). On at least an annual basis the Board (as defined below) will review Employee’s performance and make increases to such base salary if, in its discretionary, any such increase is warranted. Such recommended increase would, in all likelihood, require approval by the Board of Directors (the “Board”) or a duly constituted committee thereof. For 2001 and subsequent years, it is the Company's intent to develop a written Incentive Bonus Plan setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. Employee shall be eligible for a bonus opportunity of up to 80% of Employee's annual base salary payable in cash and/or equity (at the Company’s discretion) in accordance with this Incentive Bonus Plan. The award of any bonus shall be based on the Company’s overall performance and shall be payable in various increments based on the performance. The incremental payments and the Company's targeted performance shall be determined by the Board or the compensation committee thereof. For 2001, Employee has already been awarded Warrant No. 59 as payment for any 2001 bonus opportunity.
Base Salary; Annual Bonus. The base salary payable to Employee shall be $150,000 per year, payable on a regular basis in accordance with the Company's standard payroll procedures but not less than monthly (pro-rated for any year in which Employee is employed for less than the full year). For 1997 and subsequent years, it is the Company's intent to develop a written Incentive Bonus Plan setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. Employee shall be eligible for a bonus opportunity of up to 50% of Employee's annual base salary in accordance with this Incentive Bonus Plan, pro-rated for any year in which Employee was employed for less than the full year. The award of any bonus shall be based on the total performance of the business unit managed and shall be payable in various increments based on the performance of the business unit versus targeted goals. The incremental payments and the Company's targeted performance shall be determined by the Board of Directors (the "Board") or the compensation committee thereof.
Base Salary; Annual Bonus. The base salary payable to Employee shall be $275,000 per year (effective January 1, 2001), payable on a regular basis in accordance with the Company's standard payroll procedures but not less than monthly (pro-rated for any year in which Employee is employed for less than the full year). On at least an annual basis the Board of Directors (the “Board”) will review Employee’s performance and make increases to such base salary if, in its discretion, any such increase is warranted. For 2001 and subsequent years, it is the Company's intent to develop a written Incentive Bonus Plan setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. Employee shall be eligible for a bonus opportunity of up to 75% of Employee's annual base salary payable in cash and/or equity of the Company (at the Company’s discretion) in accordance with the Incentive Bonus Plan. The award of any bonus shall be based on the Company’s overall performance and the total performance of the business managed and shall be payable in various increments based on the performance. The incremental payments and the Company's targeted performance shall be determined by the Board or the compensation committee thereof. For 2001, Employee has already been awarded Warrant No. 63 as payment for any 2001 bonus opportunity.
Base Salary; Annual Bonus. The base salary payable to Employee shall be $112,500 for the balance of the 1997 calendar year and $150,000 per year thereafter, payable on a regular basis in accordance with the Company's standard payroll procedures but not less than monthly.
Base Salary; Annual Bonus. The base salary payable to Employee shall be $185,000 per year, payable on a regular basis in accordance with the Company's standard payroll procedures but not less than monthly (pro-rated for any year in which Employee is employed for less than the full year) beginning November 4, 1998. On at least an annual basis the Board (as defined below) will review Employee's performance and make increases to such base salary if, in its discretionary, any such increase is warranted. For 1999 and subsequent years, it is the Company's intent to develop a written Incentive Bonus Plan setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. Employee shall be eligible for a bonus opportunity of up to 50% of Employee's annual base salary payable in cash and or equity at the Company's discretion beginning January 1, 1999 in accordance with this Incentive Bonus Plan. Such recommended increase would, in all likelihood, require approval by the Board of Directors (the "Board") or a duly constituted committee thereof. The award of any bonus shall be based on F.Y.I.'s overall performance and the total performance of the business unit managed and shall be payable in various increments based on the performance. The incremental payments and the Company's targeted performance shall be determined by the Board or the compensation committee thereof.
Base Salary; Annual Bonus. From the period of the date hereof until December 31, 2013, the Company will pay the Executive a base salary at the rate of Three Hundred Fifty Thousand Dollars ($350,000) per year. Such amount shall be payable in accordance with the regular payroll practices of the Company for its executives, as in effect from time to time, and subject to increase from time to time by the Board in its discretion. The Executive shall have the opportunity to earn an annual target bonus measured against performance criteria to be determined by the Board (or a committee thereof) of 35% of the Executive’s then current annual base salary. Any bonus amount payable by the Company, if any, shall be paid no later than March 15 of the year following the year in which such bonus is earned.
Base Salary; Annual Bonus. The Company will pay the Executive a base salary at the rate of four hundred thousand dollars ($400,000) per year. Such amount shall be payable in accordance with the regular payroll practices of the Company for its executives, as in effect from time to time, and subject to increase from time to time by the Board of Directors of the Company (the “Board”) in its discretion. The Executive shall have the opportunity to earn an annual target bonus, prorated for the initial partial year of employment, measured against performance criteria to be determined by the Board (or a committee thereof) of forty percent (40%) of the Executive’s then current annual base salary, with the actual amount of the bonus, if any, to be
Base Salary; Annual Bonus. The Company will pay the Executive a base salary at the rate of Three Hundred and Eighty Thousand Dollars ($380,000) per year. Such amount shall be payable in accordance with the regular payroll practices of the Company for its executives, as in effect from time to time, and subject to increase from time to time by the Board of Directors of the Company (the “Board”) in its discretion. The Executive shall have the opportunity to earn an annual target bonus, prorated for the initial partial year of employment, measured against performance criteria to be determined by the Board (or a committee thereof) of forty percent (40%) of the Executive’s then current annual base salary, with the actual amount of the bonus, if any, to be determined by the Board (or a committee thereof). Any bonus amount payable by the Company, if any, shall be paid no later than March 15 of the year following the year in which such bonus is earned. The Executive must remain employed through the last day of the year for which the bonus is earned in order to be eligible to receive any bonus.
Base Salary; Annual Bonus. From the period beginning on June 26, 2011 until December 31, 2011, the Company will pay the Executive a starting base salary at the rate of Two Hundred Eighty Thousand Dollars ($280,000) per year. Beginning on January 1, 2012, the Company will pay the Executive a base salary at the rate of Two Hundred Eighty Four Thousand Dollars ($284,000) per year; provided that such amount shall be increased to a rate of Three Hundred Thousand Dollars ($300,000) upon the closing of an underwritten public offering by the Company of its stock prior to December 31, 2012 (a “2012 IPO”). Such amount shall be payable in accordance with the regular payroll practices of the Company for its executives, as in effect from time to time, and subject to increase from time to time by the Board in its discretion. The Executive shall have the opportunity to earn an annual target bonus measured against performance criteria to be determined by the Board (or a committee thereof) of 30% of the Executive’s then current annual base salary, provided that such rate shall be increased to 35% of the Executive’s then-current annual base salary upon the closing of a 2012 IPO. Any bonus amount payable by the Company, if any, shall be paid no later than March 15 of the year following the year in which such bonus is earned.
Base Salary; Annual Bonus. The base salary payable to Employee shall be $150,000 per year, payable on a regular basis in accordance with the Company's standard payroll procedures but not less than monthly (pro-rated for any year in which Employee is employed for less than the full year). For 1998 and subsequent years, it is the Company's intent to develop a written Incentive Bonus Plan setting forth the criteria under which Employee and other officers and key employees will be eligible to receive year-end bonus awards. Employee shall be eligible for a bonus opportunity of up to 50% of Employee's annual base salary in accordance with this Incentive Bonus Plan, pro-rated for any year in which Employee was employed for less than the full year. The award of any bonus shall be based on the total performance of the Employee and the Company. The incremental payments and the Company's targeted performance shall be determined by the Board of Directors (the "Board") or the compensation committee thereof.
