Common use of Bonus Opportunities Clause in Contracts

Bonus Opportunities. (a) As additional compensation opportunities for the Executive hereunder, the Corporation shall provide to the Executive a bonus program which allows for possible incentive compensation (the "Bonus") in respect of each fiscal year of the Corporation. Subject to the provisions of Section 4(b), the basis for such bonus, shall be based on performance achievements by the Corporation and the Executive. Incentive award opportunities may range up to 30% of the Salary of the Executive in any fiscal year. The Bonus plan will be reviewed and adjusted on an annual basis, if deemed appropriate, by the Corporation in coordination with the Compensation Committee of the Board of Directors in its sole and absolute discretion. (b) The formula or other methods for determining the Bonus for the Executive in each fiscal year shall be determined by the Corporation in coordination with the Compensation Committee of the Board of Directors, and shall be based upon the performance of the Corporation and the Executive in such fiscal year as compared with the projected expected performance of the Corporation for such fiscal years. The actual amount of the Bonus paid to the Executive in respect to the performance of any fiscal year of the Corporation shall be subject to the sole and absolute discretion of the Board of Directors of the Corporation. (c) All bonuses with respect to any fiscal year of the Corporation shall be paid as soon as practical subsequent to the issuance of the consolidated financial statements of the Corporation.

Bonus Opportunities. (a) As additional compensation opportunities for to the Executive hereunder, the Corporation shall provide pay to the Executive a bonus program which allows for possible incentive compensation (the "Bonus") in respect of each fiscal year of the CorporationCompany. Subject to the provisions of Section 4(b), the basis initial target for such bonusBonus, shall be based on performance achievements 100% achievement of objectives by the Corporation and the Executive. Incentive award opportunities may range up to 30% shall be fifty (50%) of the Salary of the Executive in any fiscal year. Payment of the Bonus will be subject to and adjusted upwards for accomplishment of objectives. The Bonus plan will be reviewed and adjusted upward on an annual basis, if deemed appropriate, appropriate by the Corporation in coordination with the Compensation Committee of the Board of Directors of the Corporation in its sole and absolute discretion. (b) The formula or other methods for determining the Bonus for the Executive in each fiscal year shall be determined by the Corporation in coordination with the Compensation Committee of the Board of Directors, and shall be based upon the performance of the Corporation and the Executive in such fiscal year as compared with the projected expected performance of the Corporation for such fiscal years. The actual amount of the Bonus paid to the Executive in respect to the performance of any fiscal year of the Corporation shall be subject to the sole and absolute discretion of the Board of Directors of the Corporation. (c) All bonuses with respect to any fiscal year of the Corporation shall be paid as soon as practical subsequent to the issuance of the consolidated financial statements of the Corporation.