Common use of Executive Bonus Plan Clause in Contracts

Executive Bonus Plan. The Company maintains the Executive Bonus Plan (the "EBP") to provide performance-based incentive compensation to Xxxxxxx and certain other executives of the Company. During the Contract Period, Xxxxxxx shall be eligible to earn an annual performance bonus of 0 to 150% of his annual base salary in effect for that year ("incentive compensation"), calculated in such fashion and based on the achievement of certain performance criteria as are approved by the Board or the Compensation Committee prior to the beginning of such year under the EBP.

Appears in 2 contracts

Samples: Employment Agreement (Trans World Entertainment Corp), Employment Agreement (Trans World Entertainment Corp)

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Executive Bonus Plan. The Company maintains the Executive Bonus Plan (the "EBP") to provide performance-based incentive compensation to Xxxxxxx and certain other executives of the Company. During the Contract Period, Xxxxxxx shall be eligible to earn an annual performance bonus of 0 to 150% of his annual base salary in effect for that year ("incentive compensation"), calculated in such fashion and based on the achievement of certain performance criteria as are approved by the Board or the Compensation Committee prior to the beginning of such year under the EBP.

Appears in 1 contract

Samples: Employment Agreement (Trans World Entertainment Corp)

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Executive Bonus Plan. The Company maintains the Executive Bonus Plan (the "EBP") to provide performance-based incentive compensation to Xxxxxxx and certain other executives of the Company. During the Contract Period, Xxxxxxx shall be eligible to earn an annual performance bonus of 0 to 150200% of his annual base salary in effect for that year ("incentive compensation"), calculated in such fashion and based on the achievement of certain performance criteria as are approved by the Board or the Compensation Committee prior to the beginning of such year under the EBP.

Appears in 1 contract

Samples: Employment Agreement (Trans World Entertainment Corp)

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