Common use of Cash Bonus Plan Clause in Contracts

Cash Bonus Plan. The Compensation Committee shall adopt a cash bonus plan designed to provide Officer an opportunity to earn annual cash bonuses during each calendar year during his employment which, when added to Officer's Base Salary, shall provide Officer a level of compensation comparable to compensation generally prevailing for other chief operating officers of publicly traded companies which are comparable to the Company. The factors to be used to select which companies are comparable to that of the Company shall include, but not be limited to, industry group, revenues, operating income, growth rate, number of employees and location. The annual performance goals to be met in order to earn portions or all of the bonus provided under the plan shall be determined through consultation between the Officer and the Compensation Committee. If requested by the Compensation Committee or Officer, the Company shall retain a reputable, nationally recognized compensation consultant to assist the Compensation Committee in identifying comparable companies and to make recommendations regarding the structure and amount of the cash bonus plan.

Cash Bonus Plan. The Compensation Committee shall adopt a cash bonus plan designed to provide Officer an opportunity to earn annual cash bonuses during each calendar year during his employment which, when added to Officer's Base Salary, shall provide Officer a level of compensation comparable to compensation generally prevailing for other chief operating executive officers of publicly traded companies which are comparable to the Company. The factors to be used to select which companies are comparable to that of the Company shall include, but not be limited to, industry group, revenues, operating income, growth rate, number of employees and location. The annual performance goals to be met in order to earn portions or all of the bonus provided under the plan shall be determined through consultation between the Officer and the Compensation Committee. If requested by the Compensation Committee or Officer, the Company shall retain a reputable, nationally recognized compensation consultant to assist the Compensation Committee in identifying comparable companies and to make recommendations regarding the structure and amount of the cash bonus plan.

Cash Bonus Plan. The Compensation Committee shall adopt a cash bonus plan designed to provide Officer an opportunity to earn annual cash bonuses during each calendar year during his employment which, when added to Officer's Base Salary, shall provide Officer a level of compensation comparable to compensation generally prevailing for other chief operating officers senior vice presidents of publicly traded companies which are comparable to the Company. The factors to be used to select which companies are comparable to that of the Company shall include, but not be limited to, industry group, revenues, operating income, growth rate, number of employees and location. The annual performance goals to be met in order to earn portions or all of the bonus provided under the plan shall be determined through consultation between the Officer and the Compensation Committee. If requested by the Compensation Committee or Officer, the Company shall retain a reputable, nationally recognized compensation consultant to assist the Compensation Committee in identifying comparable companies and to make recommendations regarding the structure and amount of the cash bonus plan.