Common use of Discretionary Bonus Plan Clause in Contracts

Discretionary Bonus Plan. The Executive shall be eligible to participate in the Company's Discretionary Bonus Plan (the "Bonus Plan"), as may be amended from time to time on the following terms: (a) in the first year of this Agreement, the Executive shall be eligible to receive up to 60% of his Base Salary as cash bonus, based on prescribed written performance milestones agreed between the Executive and the Board of Directors of the Company within 60 days of the Effective Date of this Agreement; (b) thereafter, the Executive and the Company shall agree in advance of the start of the next year of employment on the prescribed written performance objectives with the following targets under the Bonus Plan: (i) after the completion of the second year of employment under this Agreement, the Executive shall be eligible to receive up to 70% of his Base Salary as a cash bonus; (ii) after the completion of the third year of employment under this Agreement, the Executive shall be eligible to receive up to 80% of his Base Salary as a cash bonus; (iii) after the completion of the fourth year of employment under this Agreement, the Executive shall be eligible to receive up to 90% of his Base Salary as a cash bonus; and (iv) after the completion of the fifth year of employment under this Agreement, the Executive shall be eligible to receive up to 100% of his Base Salary as a cash bonus. (c) subject to the terms and conditions below, any cash bonus payable under the Bonus Plan is generally payable within 60 days of completion of the applicable anniversary year; (d) by delivery of written notice to the Company at any time prior to the date of payment of a bonus that has been earned by the Executive under this Section 3.2, the Executive may elect to convert 50% of any cash payments under this Section 3.2 to Class B shares of the Company at a price per share equal to the market price (in CAD$) of Class B shares of the Company at the close of business on the Canadian Securities Exchange on the date of notice.

Discretionary Bonus Plan. The Executive shall be eligible to participate in the Company's Discretionary Bonus Plan (the "Bonus Plan"), as may be amended from time to time on the following terms: (a) in the first year of this Agreement, the Executive shall be eligible to receive up to 60% of his her Base Salary as cash bonus, based on prescribed written performance milestones agreed between the Executive and the Board of Directors CEO of the Company or his/her designee within 60 days of the Effective Date of this Agreement; (b) thereafter, the Executive and the Company shall agree in advance of the start of the next year of employment on the prescribed written performance objectives with the following targets under the Bonus Plan: (i) after the completion of the second year of employment under this Agreement, the Executive shall be eligible to receive up to 70% of his her Base Salary as a cash bonus; (ii) after the completion of the third year of employment under this Agreement, the Executive shall be eligible to receive up to 80% of his her Base Salary as a cash bonus; (iii) after the completion of the fourth year of employment under this Agreement, the Executive shall be eligible to receive up to 90% of his her Base Salary as a cash bonus; and (iv) after the completion of the fifth year of employment under this Agreement, the Executive shall be eligible to receive up to 100% of his Base her base Salary as a cash bonus. (c) subject to the terms and conditions below, any cash bonus payable under the Bonus Plan is generally payable within 60 days of completion of the applicable anniversary year; (d) the Executive must be in active employment in order to receive any payment under the Bonus Plan. No period of notice whether occasioned by the Executive or the Company shall be considered active service; (e) the Executive shall be entitled to a pro-rated Bonus for any partial year only if this Agreement is terminated in accordance with Section 4.3; (f) any discretionary bonus under this Section 3.2 does not accrue after the Executive gives or receives notice of termination, and is only earned and payable as noted above in this Section 3.2 regardless of whether such termination is with or without notice, adequate notice or legal notice or is with or without legal or just cause, and the Executive's rights shall be strictly limited to those provided for in this Section 3.2. Unless otherwise specifically provided in writing, the Executive shall have no claim to, or in respect of, any discretionary bonus payments had due notice of termination of employment been given, nor shall the Executive have any entitlement to damages or other compensation or any claim for wrongful termination or dismissal in respect of any discretionary bonus payments, which may have or would have been payable to the Executive if such wrongful termination or dismissal had not occurred or if due notice of termination had been given; and (g) by delivery of written notice to the Company at any time prior to the date of payment of a bonus that has been earned by the Executive under this Section 3.2, the Executive may elect to convert 50% of any cash payments under this Section 3.2 to Class B common shares of the Company at a price per share equal to the market price (in CAD$) of Class B common shares of the Company at the close of business on the Canadian Securities Exchange on the date of notice. (h) The Company reserves the right to convert any cash payments under Section 3.3 to equity-based incentives.

Discretionary Bonus Plan. The Executive shall be eligible to participate in the Company's Discretionary Bonus Plan (the "Bonus Plan"), as may be amended from time to time on the following terms: (a) in the first year of this Agreement, the Executive shall be eligible to receive up to 60% of his Base Salary as cash bonus, based on prescribed written performance milestones agreed between the Executive and the Board of Directors of the Company within 60 days of the Effective Date of this Agreement;Company. (b) thereafter, the Executive and the Company shall agree in advance of the start of the next year of employment on the prescribed written performance objectives with the following targets under the Bonus Plan: (i) after the completion of the second year of employment under this Agreement, the Executive shall be eligible to receive up to 70% of his Base Salary as a cash bonus; (ii) after the completion of the third year of employment under this Agreement, the Executive shall be eligible to receive up to 80% of his Base Salary as a cash bonus; (iii) after the completion of the fourth year of employment under this Agreement, the Executive shall be eligible to receive up to 90% of his Base Salary as a cash bonus; and (iv) after the completion of the fifth year of employment under this Agreement, the Executive shall be eligible to receive up to 100% of his Base Salary as a cash bonus. (c) subject to the terms and conditions below, any cash bonus payable under the Bonus Plan is generally payable within 60 days of completion of the applicable anniversary year; (d) by delivery of written notice to the Company at any time prior to the date of payment of a bonus that has been earned by the Executive under this Section 3.2, the Executive may elect to convert 50% of any cash payments under this Section 3.2 to Class B shares of the Company at a price per share equal to the market price (in CAD$) of Class B shares of the Company at the close of business on the Canadian Securities Exchange on the date of notice.