Common use of Incentive Compensation/Bonuses Clause in Contracts

Incentive Compensation/Bonuses. In addition to base salary, the Employee shall be entitled to (i) participate in such incentive plans (including the right to defer income and bonuses) made available by the Company to its executives and key employees and (ii) receive such additional bonus or discretionary compensation payments as the President or his designee may determine from time to time. The Employee’s eligibility for incentive plan participation and additional bonus or discretionary compensation payments shall be reviewed annually by the President or his designee and shall be awarded on the basis of corporate performance and in accordance with criteria and standards established in the sole discretion of the President or his designee.

Incentive Compensation/Bonuses. In addition to base salary, the Employee shall be entitled to (i) participate in such incentive plans (including the right to defer income and bonuses) made available by the Company to its executives and key employees and (ii) receive such additional bonus or discretionary compensation payments as the President or his designee may determine from time to time. The Employee’s eligibility for incentive plan participation and additional bonus or discretionary compensation payments shall be reviewed annually by the President or his designee and shall be awarded on the basis of corporate performance and in accordance with criteria and standards established in the sole discretion of the President or his designee. The target amount of the bonus shall be 40% of the Employee’s base salary at the end of the fiscal period for which the bonus is calculated.