Common use of Benefits and Bonus Clause in Contracts

Benefits and Bonus. 1. The Employee shall be entitled to participate in any bonus plan and such fringe benefits, if any, by way of insurance, hospitalization, and vacations normally provided to other members of the executive management of the Company generally and such additional benefits as may be from time to time agreed upon in writing between the Employee and the Company or as provided in the terms of the plans providing such benefits that the Compensation Committee of the Board of the Company may from time to time adopt. The Company, at its sole discretion may pay, or not pay, any other bonus as it determines. If the Compensation Committee adopts a bonus plan, the bonus plan shall provide for a bonus of up to forty percent (40%) of Employee's Base Salary if certain targets are met as set forth in the adopted bonus plan.

Benefits and Bonus. 1. The Employee shall be entitled to participate in any bonus plan and such fringe benefits, if any, by way of insurance, hospitalization, and vacations normally provided to other members of the executive management of the Company generally and such additional benefits as may be from time to time agreed upon in writing between the Employee and the Company or as provided in the terms of the plans providing such benefits that the Compensation Committee of the Board of the Company may from time to time adopt. The Company, at its sole discretion may pay, or not pay, any other bonus as it determines. If the Compensation Committee adopts a bonus plan, the bonus plan shall provide for a bonus of up to forty fifty percent (4050%) of Employee's Base Salary if certain targets are met as set forth in the adopted bonus plan.