Discretionary Annual Performance Bonus. Executive shall be eligible for a discretionary annual cash bonus equal to up to 55% of Executive’s then current base salary (the “Target Amount”), subject to review and adjustment by the Company in its sole discretion, payable subject to standard payroll withholding requirements, if applicable. Whether or not Executive is awarded any bonus will be dependent upon (a) Executive’s continuous performance of services to the Company through the date any bonus is paid; and (b) the actual achievement by Executive and the Company of the applicable performance targets and goals set by the Board in its sole discretion. No amount of any bonus is guaranteed at any time. The annual period over which performance is measured for purposes of this bonus is January 1 through December 31. The Board will determine in its sole discretion the extent to which Executive and the Company have achieved the performance goals upon which the bonus is based and the amount of any such bonus, which could be above or below the Target Amount (and may be zero). Any bonus shall be subject to the terms of any applicable incentive compensation plan adopted by the Company. Any bonus, if awarded, will be paid to Executive within the time period set forth in any applicable incentive compensation plan, but, in any event, within two and one-half months following the end of the annual performance period during which the bonus is earned.
Discretionary Annual Performance Bonus. Following the end of each calendar year beginning after 2006 in which the Company employs the Executive and subject to the approval of the Board or the Compensation Committee, the Executive shall be eligible for a target bonus of 50% of his Base Salary, provided that he meets the targets or objectives set forth in his bonus plan and the Company exceeds its fiscal year performance targets, as determined by the Board or its Compensation Committee in its sole discretion; his actual bonus will be determined based on actual performance with no minimum bonus and no cap on the maximum bonus. The Executive shall work with the President of HMS (or any other executive to whom the Company assigns this task) to set forth his bonus plan targets and objectives. If no bonus plan is agreed upon, the Executive’s bonus plan and/or his bonus will be determined in the sole and exclusive discretion of the Board or its Compensation Committee. The Executive must be an active employee of the Company on the date any bonus is distributed to be eligible for and to earn any bonus award.
Discretionary Annual Performance Bonus. In order to serve as an incentive to the Employee, following the end of each fiscal year in which the Employee is employed by the Company and subject to the approval of the Company’s Board of Directors, the Employee is eligible for a bonus of up to thirty percent (15%) of his annualized base salary, provided that he meets the targets or objectives set forth in his bonus plan, as determined by the Company in its sole discretion. The Employee must be an active employee of the Company on the date any bonus is distributed in order to be eligible for and to earn any bonus award. The Company will distribute bonus and awards 90 days from the fiscal year end.
Discretionary Annual Performance Bonus. (a) During the Consulting Term, in the sole discretion of the Board, following each calendar year of employment, the Employee may be eligible to receive a discretionary cash bonus, of up to forty percent (40%) of the Employee’s Base Salary (the “Discretionary Annual Performance Bonus”), based on Consultant’s achievement relative to certain performance goals (“Performance Goals”) to be established by the Board. The determination of whether Consultant has met the Performance Goals for any given year, and if so, the amount of any Discretionary Annual Performance Bonus that will be paid for such year, if any, shall be determined by the Board in its sole and absolute discretion. In order to be eligible to earn or receive any Discretionary Annual Bonus the Consulting Relationship must remain effective through and including the end of the year with respect to which such Discretionary Annual Performance Bonus is awarded and earned. Any awarded Discretionary Annual Performance Bonus will be paid no later than March 15th of the calendar year immediately following the calendar year with respect to which the Discretionary Annual Bonus was awarded (the “Bonus Payment Date”). Any bonus with respect to the 2020 calendar year, if any, will be prorated to reflect the period during which the Employee was employed.
Discretionary Annual Performance Bonus. Executive will also be eligible to earn an annual discretionary performance-based bonus for each calendar year in which Executive is employed, commencing with calendar year 2017, in an amount up to $50,000 (“Annual Bonus”), with the actual amount to be determined and approved at the discretion of the Compensation Committee and approved by the Board of Directors. As of the present time, the Company anticipates that the following factors, without limitation, will be considered in determining any Annual Bonus for 2017:
Discretionary Annual Performance Bonus. Only in the event that the Company’s EBITDA exceeds its mutually-agreed (between the Company and the Executive) upon target EBITDA by more than 10% in a given year as determined by the Company’s auditors and as certified by the Company’s Chief Financial Officer, the Executive shall also be eligible, during the Employment Term, to receive a Discretionary Annual Performance Bonus (the “Discretionary Annual Performance Bonus”) which shall be an amount, if any, determined in the sole discretion of the Company’s Board of Directors. Any Discretionary Annual Performance Bonus paid under this Agreement shall be paid to the Executive only if he remains employed with the Company on the date that the Discretionary Annual Performance Bonus is paid. The Discretionary Annual Performance Bonus, if any, will be paid no later than sixty (60) days from the delivery of the audit for the prior year, but not later than May 15 of each year.
