Common use of Cash Performance Bonus Clause in Contracts

Cash Performance Bonus. The Employee will be included in the Company’s annual bonus compensation program based on a June 30th year end in an amount to be decided by the Company’s Compensation Committee and approved by the Board, payable no later than September 30th of each year during the Employment Period. The annual incentive bonus target shall be set by the Compensation Committee, but shall be no less than sixty percent (60%) of annual base salary and will be based on specific performance objectives as predetermined by the Compensation Committee, with the Compensation Committee determining the June 30th year end percent achievement of performance objectives. The Compensation Committee may recommend a discretionary additional amount based on performance.