Bonus Remuneration. The Executive shall, in respect of each Year of Employment during the Employment Period, receive such bonus remuneration, as outlined in Schedule 5.2.
Bonus Remuneration. The Employee shall, in respect of each Year of Employment during the Employment Period, receive bonus remuneration in accordance with the terms and conditions outlined in Schedule 5.2.
Bonus Remuneration. In respect of each Year of Employment during the Employment Period, the Employee shall be entitled to receive a maximum of 50 percent of his Basic Salary as bonus remuneration based upon performance criteria agreed upon by the President and Chief Operating Officer and the Chief Executive Officer and approved by the Compensation Committee of the board of directors of the Corporation. In respect of the First Year of Employment, the Employee will be entitled to a bonus payment, if any, prorated to the proportion that the number of days in the First Year of Employment is to 365. SCHEDULE 5.3
Bonus Remuneration. The Board may award the Executive, an annual bonus of cash, stock options, other share based compensation or any combination thereof. Such bonus shall be awarded in the sole discretion of the Board (the "BONUS") at the recommendation of the Chief Executive Officer. Each year, at the time that the Board approves the Corporation's annual business plan and annual budget, the Executive and the Board (or a committee thereof) shall mutually agree on the objectives upon which any Bonus shall be based. Such objectives may include subjective and objective criteria.
Bonus Remuneration. The Executive will be entitled to receive bonus remuneration (“Bonus Remuneration”) in respect of each Year of Employment during the Employment Period, or any part thereof, as the Board, in its good faith discretion, may authorize in accordance with the terms of any management incentive compensation plan of the Corporation in effect from time to time. The Executive’s current Bonus Remuneration target is as set out in Schedule “A”.
Bonus Remuneration. The Executive may, in respect of each year of his employment hereunder commencing January 1, 2008, be entitled to a cash bonus of up to 50% of his Salary for such year of employment as determined by the Board in its sole discretion in accordance with the Company’s ongoing programmes and objectives, which shall be paid within 30 days following the date as of when the audited financial statements for such year have been approved by the Board.
Bonus Remuneration. The Manager may, in respect of each year of his employment hereunder, be entitled to a cash bonus of up to 30% of his Salary for such year of employment as determined by the Board in its sole discretion in accordance with the Company’s ongoing programmes and objectives and as the same shall be mutually agreed between the Company the Manager , which shall be paid within 30 days following the date as of when the audited financial statements for such year have been approved by the Board.
Bonus Remuneration. The Employee is eligible to receive a bonus equal to a maximum amount of 50% of the Employee's Salary, less applicable deductions and withholdings. The payment of any bonus will be based on Employee's performance within a specific area of responsibility and/or the Corporation achieving its financial objectives for the fiscal year; the amount of any such bonus and whether any bonus is earned shall be determined by the Corporation in its sole discretion. Any bonus earned shall be paid within sixty (60) days after the end of the Corporation's fiscal year.
Bonus Remuneration. In respect of each Year of Employment during the Employment Period, the Employee shall be entitled to receive a maximum of 100 percent of his Basic Salary as bonus remuneration based upon performance criteria agreed upon by the President and Chief Operating Officer and the Chief Executive Officer and approved by the Compensation Committee of the board of directors of the Corporation. In respect of the First Year of Employment, the Employee will be entitled to a bonus payment, if any, prorated to the proportion that the number of days in the First Year of Employment is to 365. SCHEDULE 5.3 Stock Options The Employee hereby receives 200,000 options entitling him to purchase 200,000 shares of common stock of the Corporation. Such options have the following terms and conditions: (1) the exercise price per share shall be equal to the NASDAQ closing price of the Corporation’s common stock on the date hereof, being the date of grant; (2) such options shall become exercisable at the rate of 33 1/3 percent on each anniversary of the date of grant and, subject to (4) below, shall expire on the tenth anniversary of the date of grant; (3) such options shall be subject to an option agreement, to be entered into forthwith by the Employee and the Corporation and to be effective as of the date of grant, which shall contain terms and conditions substantially similar to those of options granted to date under the Corporation’s 2002 Stock Option Plan (the “Definitive Option Agreement”) (other than, for greater certainty, in those respects that are described specifically in this Schedule 5.3); and (4) such options shall expire automatically if the Definitive Option Agreement is not executed and delivered by the Employee and the Corporation on or before October 31, 2005. In addition to the above, the Employee hereby receives 100,000 options to purchase 100,000 shares of common stock of the Corporation. Such options have the following terms and conditions: (1) the exercise price per share shall be equal to the NASDAQ closing price of the Corporation’s common stock on the date hereof, being the date of grant; (2) such options shall not become exercisable unless the Corporation achieves a minimum of $250 million of aggregate net sales over four consecutive fiscal quarters occurring prior to January 1, 2011, net of marketing discounts, volume discounts, sales discounts and other like discounts, and, provided that such condition is fulfilled, shall become exercisable on the date tha...
Bonus Remuneration. The Employee shall, in respect of each Year of Employment during the Employment Period, be entitled to receive such bonus remuneration, if any, as the Board of Directors of PRTT, in its sole discretion (“Bonus”), may authorize for the Senior Management.
