Common use of Bonus Opportunity Clause in Contracts

Bonus Opportunity. During the period of this Agreement, Executive shall be provided with the opportunity to earn and receive an annual incentive performance bonus payable in cash in an amount equal to $130,000 (pro-rated for any period of less than 12 months), 20 percent of which shall be conditioned and determined on the attainment of personal performance goals and 80 percent of which shall be conditioned and determined on the attainment of organizational performance goals, in each case as set by, and based on performance criteria established by, the Compensation Committee. The Compensation Committee shall notify Executive of the bonus opportunity by no later than the end of the first 90 days of each annual performance period and shall, at that time, set and communicate to Executive the personal and organizational performance goals on which the bonus (and each component thereof) shall be conditioned and the criteria on which the attainment of such goals and the resulting bonus, if any, shall be determined. All determinations with respect to the bonus hereunder shall be made by the Compensation Committee and its determinations shall be final and binding.

Bonus Opportunity. During the period of this Agreement, Executive shall be provided with the opportunity to earn and receive an annual incentive performance bonus payable in cash in an amount equal to $130,000 100,000 (pro-rated for any period of less than 12 months), 20 percent of which shall be conditioned and determined on the attainment of personal performance goals and 80 percent of which shall be conditioned and determined on the attainment of organizational performance goals, in each case as set by, and based on performance criteria established by, the Compensation Committee. The Compensation Committee shall notify Executive of the bonus opportunity by no later than the end of the first 90 days of each annual performance period and shall, at that time, set and communicate to Executive the personal and organizational performance goals on which the bonus (and each component thereof) shall be conditioned and the criteria on which the attainment of such goals and the resulting bonus, if any, shall be determined. All determinations with respect to the bonus hereunder shall be made by the Compensation Committee and its determinations shall be final and binding.