Incentive Compensation and Bonuses. Prior to the end of each of Avatech’s fiscal years, its management will recommend to the Compensation Committee of the Board of Directors whether to pay to Executive additional compensation, and the Compensation Committee shall determine if additional compensation shall be paid to Executive, and if so, in what amounts. Such a determination by the Compensation Committee shall be made in conjunction with its consideration of an overall incentive compensation plan for senior management of Avatech. The Compensation Committee may pay to Executive any or all of the following: incentive compensation based on Executive’s achievement of specific goals or objectives developed by the Compensation Committee, in an annual amount up to $50,000; a bonus based upon outstanding performance by the Executive; and additional options to purchase Avatech’s Common Stock under its Incentive Stock Option plan or otherwise.
Incentive Compensation and Bonuses. Executive ------------------------------------- shall receive annual incentive compensation and bonuses in accordance with the terms of the Executive Incentive Compensation Plan attached hereto as Exhibit A, subject to Company's then-current plans, practices, policies, and procedures with respect to incentive compensation established by the Board of Directors of Company (or a committee thereof) and generally applicable to comparable executives of Company.
Incentive Compensation and Bonuses. Executive shall receive annual incentive compensation and bonuses in accordance with the terms of an annual Executive Incentive Compensation Plan prepared by Company for each calendar year, subject to Company's then-current plans, practices, policies, and procedures with respect to incentive compensation established by the Board of Directors of Company (or a committee thereof) and generally applicable to comparable executives of Company.
Incentive Compensation and Bonuses. In addition to the Base Compensation, CARMICHAEL shall alxx xxxxxxe or be eligible to receive additional compensation in the form of incentive compensation and bonuses as follows:
Incentive Compensation and Bonuses. Prior to the end of each of Avatech's fiscal quarters, the Compensation Committee of the Board of Directors of Avatech shall determine an amount of cash incentive compensation and a stated performance measure ("Performance Goal") for the next following fiscal quarter. Such cash incentive compensation shall be paid to Executive after the close of the fiscal quarter if the Executive has met the Performance Goal for that fiscal quarter, in accordance with Avatech's customary payroll policies in force at the time of payment.
Incentive Compensation and Bonuses. Prior to the end of each of Avatech's fiscal years, Avatech's Chief Executive Officer and the Board of Directors shall adopt annual performance measures, with quarterly targets, for the Executive for the upcoming fiscal year (the "Performance Goals"). In the event that the Executive's performance meets the Performance Goals, Avatech will pay to Executive an annualized bonus of one hundred thousand dollars ($100,000) (the "Incentive Compensation"), payable in quarterly installments in accordance with Avatech's customary payroll policies in force at the time of payment. In the event that Executive's performance exceeds the Performance Goals, the Compensation Committee shall determine if amounts, in addition to the Incentive Compensation, shall be paid to Executive, and if so, in what amounts. In the event that Executive's performance does not meet the Performance Goals, the Compensation Committee shall determine if any amounts in excess of the Base Salary shall be paid to Executive, and if so, in what amounts. Such a determinations by the Compensation Committee shall be made in its sole discretion, in conjunction with its consideration of an overall incentive compensation plan for senior management of Avatech. The Compensation Committee may pay to Executive any or all of the following: incentive compensation based on Executive's achievement of specific goals or objectives developed by the Compensation Committee; a bonus based upon outstanding performance by the Executive; awards of stock pursuant to the Avatech's Restricted Stock Award Plan; and additional options to purchase Avatech's Common Stock under its Incentive Stock Option plan or otherwise.
Incentive Compensation and Bonuses. The Seller shall be liable, responsible and obligated for the payment of all incentive compensation and bonuses of the Employees up to the Closing Date in accordance with the terms of the applicable plans providing for such incentive compensation and bonuses from Seller.
Incentive Compensation and Bonuses
