Discretionary Bonus Compensation. During the Term, the Employee shall be eligible to receive an annual cash bonus (“Discretionary Annual Bonus”) with an initial target level of 35% of Employee’s Base Salary (the “Target Bonus”). The applicable performance goals shall be determined by the Company as soon as practicable at the beginning of each calendar year. The actual Discretionary Annual Bonus for each calendar year, if any, shall be determined in the sole and absolute discretion of the Company and shall be paid to Employee no later than March 15th of the calendar year immediately following the calendar year in which it was earned. For the avoidance of doubt, the Company reserves the right to not pay any Discretionary Annual Bonuses even if all performance goals are achieved or exceeded.
Discretionary Bonus Compensation. You will be eligible to participate in the Company's discretionary incentive bonus plan, of up to 50% of base salary, based on your annual performance and on overall Company performance. Targets, milestones and any bonus award will be determined by the Company in its sole and absolute discretion. The Company may amend the bonus plan at any time without advance notice. The Company's incentive plans are intended to serve as retention tools, so your eligibility to participate requires you to be actively working in an ongoing employment relationship with the Company. No bonus is earned until the Company pays the bonus to you.
Discretionary Bonus Compensation. In addition to the Earnings Annual Bonus set forth in Section 1.4(b) hereof, and Net Sales Annual Bonus set forth in Section 1.4(c) hereof, the Company may also pay the Executive discretionary annual bonus compensation ("Discretionary Bonus Compensation") in an amount determined by the Board of Directors of the Company in its sole discretion to be proper and appropriate based upon such factors as the Board of Directors deems appropriate including (i) the Executive's contributions to the success of the business operations and the pre-tax profits of the Company and its subsidiaries, as determined in accordance with generally accepted accounting principles, (ii) the consolidated revenues of the Company and its subsidiaries for the taxable year, and (iii) the general overall performance of the Company and its subsidiaries for the taxable year. Such Discretionary Bonus Compensation shall be paid by the Company to the Executive in the manner set forth in the resolution of the Board of Directors of the Company authorizing and declaring the payment of such Discretionary Bonus Compensation. Notwithstanding anything herein to the contrary, the Executive shall not be entitled to any Discretionary Bonus Compensation (i) for a period of one (1) year following the closing of the contemplated initial public offering of the Company's securities and (ii) for any Employment Year during the term of this Agreement unless and until such Discretionary Bonus Compensation is determined and declared by the Board of Directors of the Company.
Discretionary Bonus Compensation. Additionally, the EMPLOYEE shall be eligible to earn an additional payment (BONUS) of $68,328. The parties consider the Bonus Pay as "at-risk" and therefore not guaranteed. Bonus Pay could include a cash bonus, commission, and other at-risk pay categories. BONUS shall be determined at the sole discretion of the COMPANY. BONUS shall be based on EMPLOYEE's annual performance reviews and overall company performance, subject to the terms and conditions of applicable incentive plans and policies.
Discretionary Bonus Compensation. In addition to the Earnings Annual Bonus set forth in Section 1.4(b) hereof, and Net Sales Annual Bonus set forth in Section 1.4(c) hereof, the Company may also pay the Executive discretionary annual bonus compensation ("Discretionary Bonus Compensation") in an amount determined by the Board of Directors of the Company in its sole discretion to be proper and appropriate based upon such factors as the Board of Directors deems appropriate including (i) the Executive's contributions to the success of the business operations and the pre-tax profits of the Company and its subsidiaries, as determined in accordance with generally accepted accounting principles, (ii) the consolidated revenues of the Company and its subsidiaries for the taxable year, and (iii) the general overall performance of the Company and its subsidiaries for the taxable year. Such Discretionary Bonus Compensation shall be paid by the Company to the Executive in the manner set forth in the resolution of the Board of Directors of the Company authorizing and declaring the payment of such Discretionary Bonus Compensation to the Executive ("Discretionary Bonus Resolution"). Notwithstanding anything herein to the contrary, the Executive shall not be entitled to any Discretionary Bonus Compensation for any Employment Year during the term of this Agreement unless and until such Discretionary Bonus Compensation is determined and declared by the Board of Directors of the Company.
Discretionary Bonus Compensation. In addition to Performance Bonus Compensation, the Board of Directors shall have the authority to award Executive a Discretionary Bonus of up to twenty-five percent (25%) of Base Salary in each calendar year of the Term of the Employment Agreement. Any Discretionary Bonus awarded to Executive for a calendar year shall be paid on or before January 31 of the following year, less standard withholding and authorized deductions. The amount of the Discretionary Bonus, if any, shall be within the full and complete discretion of the Board of Directors and no amount of Discretionary Bonus shall be vested or otherwise guaranteed for any calendar year.
Discretionary Bonus Compensation. Employee is eligible to participate in Employer's discretionary bonus program as formulated from time to time by Employer's Board of Directors in its sole discretion. Such program is primarily based on achievement of Employer's EBITDA goals and Employee's performance as determined by the Board of Directors in its sole discretion. Employee's Bonus Compensation shall be paid to him by no later than Employer pays similarly situated executives in the subsequent year and shall be paid to him regardless of whether or not he is still employed as of the March 15th date.
Discretionary Bonus Compensation. In addition to the Salary, Employer may pay Employee bonus compensation in such amount(s) and at such time(s) as Employer in its sole and absolute discretion determines (“Bonus Compensation”). Nothing contained herein shall entitle Employee to receive Bonus Compensation.
Discretionary Bonus Compensation. During the term hereof, the Executive be eligible to receive a discretionary bonus with a target of Twenty Five Percent (25%) of Executive’s Base Salary (the “Discretionary Bonus”) for each fiscal year, prorated for any period of service less than one year, as provided herein. Executive’s entitlement to the Bonus, if any, shall be determined by the Company, in its sole discretion, based on the Executive’s performance (including but not limited to Executive’s performance against revenue and profit targets) and that of the Company and its Affiliates and such other criteria as the Compensation Committee may consider in its sole discretion. The Bonus shall be paid by the Company to the Executive annually promptly after determination that the relevant financial targets have been met but in all events prior to December 31 of the year following the year to which the applicable Bonus relates, it being understood that the attainment of any financial targets associated with any bonus shall not be determined until following the completion of the Company’s annual audit and public announcement of such results and shall be paid promptly following the Company’s announcement of earnings. Whenever any Bonus payable to the Executive is stated in this Agreement to be prorated for any period of service less than a full year, such Bonus shall be prorated by multiplying (x) the amount of the Bonus otherwise payable for the applicable fiscal year in accordance with this Section 4.2 by (y) a fraction, the denominator of which shall be 365 and the numerator of which shall be the number of days during the applicable fiscal year for which the Executive was employed by the Company. Any compensation paid to the Executive as Bonus shall be in addition to the Base Salary, as well as participation in any other incentive, stock option, stock purchase, profit sharing, deferred compensation, bonus compensation or severance plan, program or arrangement which the Company or any of its Affiliates may adopt or continue from time to time for which the Executive is eligible, each as in accordance with any subscription agreement, stock option plan, and stock option agreement identified, from time to time.
Discretionary Bonus Compensation. You will be eligible to participate in the Company's discretionary bonus plan at a target rate of 15% of you base annual salary. Targets, milestones, individual and corporate performance, and any bonus awards will be determined by the Company in its sole and absolute discretion. The Company may amend or discontinue its bonus plans at any time upon providing written notice. Your annual bonus target and goals will be reviewed and determined within your first 3 months of employment. If awarded, bonus payments will be based on the fiscal year end of the Company and pro-rated to reflect the period in which you were employed by the Company. Your eligibility for a bonus ends on the date you give or receive notice of termination of employment for any reason (including resignation or termination by the Company) and you are not eligible for any bonus payment during any period of termination notice, whether required by this letter agreement or the "common law".
