Bonus Salary. Employee may receive bonus salary ("Bonus Salary"), from time to time, based upon Employee's job performance. Employer's Chief Executive Officer and Employee shall establish job performance criteria for Employee at least annually, which shall be the basis of such Bonus Salary.
Bonus Salary. Employee shall receive bonus salary ("Bonus Salary") within 90 days after each of Employers's fiscal years during the Term of this Agreement of up to $200,000 based on the following calculation: $50,000 if ValueVision obtains an operating profit equal to at least 1% of net sales, an additional $50,000 if ValueVision obtains a net 2 operating profit of at least 2% of net sales, an additional $50,000 if ValueVision obtains a net operating profit of at least 3% of net sales, and an additional $50,000 if ValueVision obtains a net operating profit of at least 4% of net sales unless prior to such date, Employee's employment shall be terminated pursuant to Sections 6.c. or 6.d. hereof. The first $50,000 of the Bonus Salary shall be guaranteed for each year during the Term. Notwithstanding the foregoing, for Employer's fiscal year ending January 31, 2000, no Bonus Salary shall be payable. In addition, Employee shall be entitled to a signing bonus of $50,000 once he has commenced working for Employer (the "Signing Bonus").
Bonus Salary. Employee shall receive bonus salary ("Bonus Salary") within 90 days after each of Employers's fiscal years during the term of this Agreement of up to $150,000 based on the following calculation: $50,000 if ValueVision obtains an operating profit equal to at least 1% of net sales, an additional $50,000 if ValueVision obtains a net operating profit of at least 2% of net sales, and an additional $50,000 if ValueVision obtains a net operating profit of at least 3% of net sales, unless prior to such date, Employee's employment shall be terminated pursuant to Sections 6.c. or 6.d. hereof. No Bonus shall be payable if ValueVision's net operating profit is less than 1% of net sales.
Bonus Salary. Employee shall receive bonus salary ("Bonus Salary") within 90 days after the end of each of Employer's fiscal years during the Term of this Agreement as follows: (i) for the fiscal year ending January 31, 2003, Employee shall receive a Bonus Salary in the amount of Fifty Thousand Dollars ($50,000); (ii) for the remaining Term, Employee shall have a bonus objective of Two hundred Thousand Dollars ($200,000) for each fiscal year, and the award of Bonus Salary in each fiscal year shall be determined pursuant to the financial criteria specified for senior executives at the beginning of each such year under the MANAGEMENT INCENTIVE PLAN, based on financial targets reviewed with the Compensation Committee of the Board of Directors. For the fiscal year ending January 31, 2004, One Hundred Thousand Dollars ($100,000) of the Bonus Salary shall be guaranteed. In order to receive a Bonus Salary with respect to any given fiscal year, Employee must be employed by Employer as of the last day of such fiscal year (unless otherwise provided in this Agreement).
Bonus Salary. Employee shall receive bonus salary ("Bonus Salary") within 90 days after the end of each of Employer's fiscal years during the Term of this Agreement (beginning with the fiscal year ending January 31, 2002) of up to $150,000 based on the following calculation: $37,500 if ValueVision obtains an operating profit equal to at least 1% of net sales, an additional $37,500 if ValueVision obtains a net operating profit of at least 2% of net sales, an additional $37,500 if ValueVision obtains a net operating profit of at least 3% of net sales; and an additional $37,500 if ValueVision obtains a net operating profit of at least 4% of net sales, unless prior to the date of payment, Employee's employment shall be terminated pursuant to Sections 6.c. or 6.d. hereof. The first $50,000 of the Bonus Salary shall be guaranteed for the first year during the Term (i.e., the fiscal year ending January 31, 2002).
Bonus Salary. Employee may receive bonus salary with respect to any year in an aggregate amount not to exceed 100% of the Base Salary applicable with respect to such year (the "Bonus Salary"). The Bonus Salary shall be calculated as follows:
(i) Up to 50% of the applicable Base Salary (the "50% Goal"), if Employer's Operating Income (as defined below) equals 1% of Employer's Net Sales (as defined below), then Employee shall receive a bonus payment equal to 25% of the 50% Goal, which payment shall increase on a pro rata basis to 100% of the 50% Goal if the Operating Income equals or exceeds 3% of Employer's Net Sales (the "Operating Income Bonus"). As used in this Agreement, "Operating Income" shall mean earnings before
Bonus Salary. Employee may receive bonus salary ("Bonus Salary"), based upon Employee's job performance and the criteria set forth on Exhibit A hereto.
Bonus Salary. Employee shall not be entitled to receive any bonus salary with respect to the Term of this Agreement.
Bonus Salary. Xx. Xxxxxxx shall be eligible to receive as additional compensation for each year of this Agreement, a bonus payment equal to 0-50% of his base salary, based on his performance. The amount of any bonus salary, and the timing of its payment, shall be determined by the Compensation Committee of the Board of Directors in its sole discretion.
Bonus Salary. Employee shall receive bonus salary ("Bonus Salary") within 90 days after the end of each of Employee's contract year during the Term of this Agreement of up to $200,000 based criteria to be agreed upon annually by Employee and the Chairman, unless, prior to the date of payment, Employee's employment shall be terminated pursuant to Sections 6.c. or 6.d. hereof. The first $50,000 of the Bonus Salary shall be guaranteed for first full year of the contract. In addition, Employee shall be entitled to a signing bonus of $50,000 once he has commenced working for Employer.
