Common use of Bonus Awards within Discretion of Board Clause in Contracts

Bonus Awards within Discretion of Board. In addition to receiving the Base Salary described in Section 2.1 and the equity grants described in Section 2.2, Employee may, in the sole discretion of the Board of Directors, be awarded such cash and/or non-cash bonuses (including stock options, restricted stock or any combination of cash and non-cash components) from time to time as are approved by the Compensation Committee of the Board of Directors (the “Compensation Committee”) or by the Board of Directors directly. The annual bonus shall be based upon any annual cash incentive bonus plan adopted by the Compensation Committee. Any bonus under this Section 2.3 will be paid to Employee no later than March 15 of the calendar year following the calendar year during which the bonus was earned.

Bonus Awards within Discretion of Board. In addition to receiving the Base Salary described in Section 2.1 and the equity grants described in Section 2.2, Employee may, in the sole discretion of the Board of Directors, be awarded such cash and/or non-cash bonuses (including stock options, restricted stock or any combination of cash and non-cash components) from time to time as are approved by the Compensation Committee of the Board of Directors (the “Compensation Committee”) or by the Board of Directors directly. The annual yearly cash bonus shall be based upon any annual cash incentive bonus plan adopted by target will range between 0% and 35% of the amount of Employee’s Base Salary paid for that year, unless the Compensation CommitteeCommittee or the Board of Directors determines otherwise. Any bonus under this Section 2.3 will be paid to Employee no later than March 15 of the calendar year following the calendar year during which the bonus was earned.