Common use of Fiscal Year Bonus Amounts Clause in Contracts

Fiscal Year Bonus Amounts. Upon the terms and subject to the conditions set forth in this Section 4, following the conclusion of each of Employer’s fiscal years ending February 28, 2010, February 28, 2011 and February 29, 2012 (each, a “Fiscal Year”), Executive shall be eligible to receive one (1) performance bonus in an annualized target amount equivalent to Fifty percent (50%) of Executive’s total Base Salary earned during the subject Fiscal Year (each, a “Fiscal Year Bonus”), the exact amount of which, if any, shall be determined based upon Executive’s attainment of certain performance and financial goals as determined each Fiscal Year by the Compensation Committee of ECC’s Board of Directors (the “Compensation Committee”), in its sole and absolute discretion, and communicated to Executive within ten (10) days after a final determination by the Compensation Committee.

Fiscal Year Bonus Amounts. Upon the terms and subject to the conditions set forth in this Section 4, following the conclusion of each of Employer’s fiscal years ending February 28, 20102011, February 28, 2011 and February 29, 2012 and February 28, 2013 (each, a “Fiscal Year”), Executive shall be eligible to receive one (1) performance bonus in an annualized target amount equivalent to Fifty Sixty percent (5060%) of Executive’s total Base Salary earned during the subject Fiscal Year (each, a “Fiscal Year Bonus”), the exact amount of which, if any, shall be determined based upon Executive’s attainment of certain performance and financial goals as determined each Fiscal Year by the Compensation Committee of ECC’s Board of Directors (the “Compensation Committee”), in its sole and absolute discretion, and communicated to Executive within ten (10) days after a final determination by the Compensation Committee.