Cash and Equity Bonus Compensation; Initial Awards. (a) The Executive will be eligible to receive annual cash bonuses (each an “Annual Bonus”) upon approval by the Compensation Committee in its discretion. The Compensation Committee shall approve a target level (the “Target Level”) each year for the Annual Bonus within 60 days after the beginning of the applicable year. The initial Target Level will be equal to 100% of the Annual Salary, subject to approval by the Compensation Committee in its discretion. Each Annual Bonus will be paid within 60 days after the end of the fiscal year to which such Annual Bonus relates. Additionally, the Executive will be eligible to participate in the Company’s 2012 Equity Incentive Plan, as amended (the “2012 Equity Incentive Plan”) and any subsequent equity incentive plan approved by the Board (each and any of the foregoing is a “Company Incentive Plan”) for equity bonus compensation (any equity compensation granted to the Executive by the Company, whether under this Agreement, a Company Incentive Plan or otherwise approved by the Board, and whether in the form of restricted stock, stock options, long-term incentive plan units, stock appreciation rights or other equity or equity-linked awards, is, collectively, “Equity Compensation”). The terms of any Annual Bonus, any other bonus or Equity Compensation will be established by the Compensation Committee.
(b) In addition, the Executive will be entitled to be paid a special cash bonus of $250,000 if, before April 30, 2013, the Company files with the SEC a shelf registration statement relating to the registration of the registrable shares (the “Registrable Shares”) for resale in accordance with the terms set forth in the registration rights agreement to be entered on the date hereof. Such bonus shall be payable within 15 days after such filing. In addition, the Executive will be entitled to be paid an additional special cash bonus of $250,000 if, before October 29, 2013 (or 60 days later if deferred pursuant to Section 2(b)(iii) of the registration rights agreement), the Registrable Shares become registered with the SEC and the Company’s common stock becomes listed on a national securities exchange. Such bonus shall be payable within 15 days after the Registrable Shares become registered with the SEC and the Company’s common stock becomes listed on a national securities exchange. The Company does not guarantee, represent or warrant any particular or favorable tax result, including, but not limited to, in connection with Code S...
Cash and Equity Bonus Compensation; Initial Awards. (a) The Executive will be eligible to participate in the Company’s annual bonus program (the “Bonus Plan”) for cash bonus compensation. The manner for determining the initial annual cash bonus target for the Executive under the Bonus Plan is described on Attachment A. Additionally, the Executive will be eligible to participate in the Company’s 2006 Incentive Award Plan, as amended (the “2006 Incentive Award Plan”), the Company’s 2012 Other Equity-Based Award Plan, as amended (the “2012 LTIP Plan”) and any subsequent equity incentive plan approved by the Board (each and any of the foregoing is a “Company Incentive Plan”) for equity bonus compensation (any equity compensation granted to the Executive by the Company, whether under this Agreement, a Company Incentive Plan or otherwise approved by the Board, and whether in the form of restricted stock, stock options, long-term incentive plan units, stock appreciation rights or other equity or equity-linked awards, is, collectively, “Equity Compensation”).The manner for determining the initial Equity Compensation target for the Executive is set forth on Attachment A. The terms of the Bonus Plan, any Company Incentive Plan and the terms of any awards made under any of them will be subject to the approval of the Compensation Committee.
(b) [Reserved]
Cash and Equity Bonus Compensation; Initial Awards
