Executive Bonus Plan. The Executive shall be entitled to participate in an executive bonus plan (the “Bonus Plan”), the terms and conditions of which shall be established by the Committee for each fiscal year and which will provide that Executive will be able to earn an annual bonus of up to 50% of the Annual Base Salary, based upon achievement by the Company of certain financial measures and management objectives as determined by the Committee.
Appears in 4 contracts
Samples: Executive Employment Agreement (Parlux Fragrances Inc), Executive Employment Agreement (Parlux Fragrances Inc), Executive Employment Agreement (Parlux Fragrances Inc)
Executive Bonus Plan. The Executive shall be entitled to participate in an executive bonus plan (the “Bonus Plan”), the terms and conditions of which shall be established by the Committee for each fiscal year and which will provide that Executive will be able to earn an annual bonus of up to 50% of the Annual Base Salary, based upon achievement by the Company of certain financial measures and management objectives as determined by the Committee. To the extent earned, bonuses shall be paid no later than 75 days following the end of the fiscal year in which the bonus was earned.
Appears in 2 contracts
Samples: Executive Employment Agreement (Parlux Fragrances Inc), Executive Employment Agreement (Parlux Fragrances Inc)
Executive Bonus Plan. The Executive shall be entitled to participate in an executive bonus plan (the “Bonus Plan”), the terms and conditions of which shall be established by the Committee for each fiscal year and which will provide that Executive will be able eligible to earn an annual bonus of up to 50% of the Annual Base Salary, based upon achievement by the Company of certain financial measures and management objectives as determined by the Committee.
Appears in 1 contract
Samples: Executive Employment Agreement (Parlux Fragrances Inc)
