Bonus and Incentive Plan. The Executive shall be eligible to receive an annual incentive compensation payment pursuant to the terms of the Company’s Executive Officer Cash Incentive Program in effect at the date of this Agreement, and as amended at any future date or pursuant to any successor incentive program or arrangement adopted by the Company or the Bank for its officers (the “Incentive Program”). Notwithstanding any contrary terms of the Incentive Program, an annual payment if earned under the Incentive Program for a fiscal year shall be paid to the Executive no later than the 15th day of the third month following the end of the calendar year in which the annual incentive compensation payment is no longer subject to a substantial risk of forfeiture, provided that the Executive must still be an active employee with the Company on the date the incentive compensation payment is made by the Company to earn and receive the incentive compensation payment. If the Executive is not actively employed on the date the incentive compensation payment is made by the Company, Executive has not earned, and is not entitled to, such payment.
Bonus and Incentive Plan. With respect to each full fiscal year during the Employment Term, the Executive shall be eligible to earn an annual bonus (the "Annual Bonus") in such amount, if any, as determined in the sole discretion of the Board up to a maximum of 100% of the Base Salary. In addition, the Executive shall be eligible to participate in the Company's bonus and other incentive compensation plans and programs (if any) for the Company's senior executives at a level commensurate with his position and may be entitled to bonus payments in addition to the amount set forth hereinabove.
Bonus and Incentive Plan. Employee shall be eligible to receive an annual bonus consisting of cash and stock options, as more fully described on Exhibit 1. The cash bonus shall be payable within 30 days following each June 30th commencing with June 30, 2002, and shall be equal to 40% of 6.25% of the operating profit of the Washington D.C. operations of the Company for the fiscal year then ended. In addition, on June 30 of each year, commencing with June 30, 2002, the Employee shall receive additional stock options under the Company's Incentive Stock Option Plan, according to the formula described on Exhibit 1.
Bonus and Incentive Plan. The details of Bonus and Incentive Plan has been finalized and agreed to between TAIYO and Teva in accordance with Section 11.4(b).
