Common use of Executive Incentive Bonus Clause in Contracts

Executive Incentive Bonus. (Upon formation of this program and approval of the Board) Executive shall be eligible to participate in the Company’s bonus and other incentive compensation plans and programs for the Company’s senior executives at a level commensurate with his position. Executive shall have the opportunity to earn an annual target bonus (the “Annual Bonus”) to be determined by and measured against objective financial criteria to be determined by the Board, or a committee thereof, of up to (TBD) percent of Base Salary upon the Company’s achievement of financial and operating metrics to be annually determined by the Board, or a committee thereof, and upon recommendation of the Chief Executive Officer; provided, however, that for the given fiscal year , the Board shall utilize the same metrics in determining the Annual Bonus that are applicable to the determination of the Chief Executive Officer’s bonus at a rate determined by the Board, or a committee thereof, upon recommendation of the Chief Executive Officer to be appropriate and reasonably commensurate with the bonus payable to other executives of the Company, and prorated for any partial period for which such bonuses are calculated during. Such annual incentive bonuses are payable to the Executive no later than sixty (60) days following the close of the fiscal year.

Executive Incentive Bonus. (Upon formation of this program and approval of the Board) Executive shall be eligible to participate in the Company’s 's bonus and other incentive compensation plans and programs for the Company’s 's senior executives at a level commensurate with his position. Executive shall have the opportunity to earn an annual target bonus (the “Annual Bonus”) to be determined by and measured against objective financial criteria to be determined by the Board, or a committee thereof, of up to (TBD) percent of Base Salary upon the Company’s achievement of financial and operating metrics to be annually determined by the Board, or a committee thereof, and upon recommendation of the Chief Executive Officer; provided, however, that for the given fiscal year , the Board shall utilize the same metrics in determining the Annual Bonus that are applicable to the determination of the Chief Executive Officer’s bonus at a rate determined by the Board, or a committee thereof, upon recommendation of the Chief Executive Officer to be appropriate and reasonably commensurate with the bonus payable to other executives of the Company, and prorated for any partial period for which such bonuses are calculated during. Such annual incentive bonuses are payable to the Executive no later than sixty (60) days following the close of the fiscal year.