Common use of Bonuses and Incentive Compensation Clause in Contracts

Bonuses and Incentive Compensation. For the calendar year in which falls the Effective Date, and thereafter during the period of this Agreement, Executive shall be eligible to receive an annual incentive performance bonus in an amount equal to up to 50% of his annual base salary (or such greater percentage, if any, as shall be approved by the Board). The amount of Executive’s annual incentive performance bonus for any calendar year shall be approved from time to time by the Board, based upon recommendations of the Compensation Committee of the Board (“Compensation Committee”) and shall be pro-rated for any period of employment by Company during a calendar year of less than twelve months. The Compensation Committee’s recommendations may take into account such criteria as it establishes in its discretion, including, without limitation, recommendations from the Chief Executive Officer of the Company. In addition, Executive shall also be eligible to receive awards under Company’s Long-Term Incentive Plan, as determined by the Board.

Bonuses and Incentive Compensation. For the calendar year in which falls the Effective Date, and thereafter during the period of this Agreement, Executive shall be eligible to receive an annual incentive performance bonus in an amount equal to up to 50% of his annual base salary (or such greater percentage, if any, as shall be approved by the Board). The amount of Executive’s annual incentive performance bonus for any calendar year shall be approved from time to time by the Board, based upon recommendations of the Compensation Committee of the Board (“Compensation Committee”) and shall be pro-rated for any period of employment by Company during a calendar year of less than twelve months. The Compensation Committee’s recommendations may take into account such criteria as it establishes in its discretion, including, without limitation, recommendations from the Chief Executive Officer of the Company. In addition, Executive shall also be eligible to receive awards under Company’s Long-Term Incentive Plan, as determined by the Board.

Bonuses and Incentive Compensation. For the calendar year in which falls the Effective Date, and thereafter during the period of this Agreement, Executive shall be eligible to receive an annual incentive performance bonus in an amount equal to up to 5066.6% of his annual base salary (or such greater percentage, if any, as shall be approved by the Board). The amount of Executive’s annual incentive performance bonus for any calendar year shall be approved from time to time by the Board, based upon recommendations of the Compensation Committee of the Board (“Compensation Committee”) ), and shall be pro-rated for any period of employment by Company during a calendar year of less than twelve months. The Compensation Committee’s recommendations may take into account such criteria as it establishes in its discretion, including, without limitation, recommendations from the Chief Executive Officer of the Company. In addition, Executive shall also be eligible to receive awards under Company’s Long-Term Incentive Plan, as determined by the Board.