Net Sales Bonus. The Employee shall be eligible for bonus payments based on the “Company’s Net Sales”, defined as the Company’s revenues collected during the relevant bonus period, less allowances granted to retailers, markdowns, discounts, commissions, reserves for service outages, customer holdbacks, and expenses, (the “Net Sales Bonus”), as described below.
Net Sales Bonus. In addition to the amounts to be paid to the Executive pursuant to Sections 3.1, 3.2, and 3.3, hereof, the Compensation Committee has determined both the amount and the criteria for an annual additional performance-based bonus for Executive (the "Net Sales Bonus"). The "Net Sales Bonus" provides no compensation unless "Net Sales" in a year equal or exceed a threshold percentage of the Net Sales Budget. In a given year, the "Net Sales Budget" for that year is adopted at or before the beginning of that year by the Board of Directors of the Company. If Net Sales in a year reaches the threshold percentage but is not above the Net Sales Budget for that year, then Executive shall be entitled to a fraction of a percentage of Net Sales that increases on a straight-line basis (back to the first dollar of Net Sales) up to a target fraction of a percentage. If Net Sales are above the Net Sales Budget for that year, Executive shall be entitled to the target fraction of a percentage up to Net Sales Budget and an incrementally increased percentage as to any excess over the budgeted amount. The target levels with respect to the specific quantitative and qualitative performance factors involved in the Net Sales Bonus calculation shall be provided to Executive in an Award Letter. Executive's target amount for the Net Sales Bonus for each year during the Term shall be no less than $2,016,800.
Net Sales Bonus. No Net Sales bonus shall be payable to --------------- Employee before Annual Net Sales reach one hundred and five percent (105%) of Base Annual Net Sales. Thereafter, for every full percentage point by which Annual Net Sales for a given fiscal year exceed 105% of Base Annual Net Sales for such year, Employee shall be entitled to receive a bonus on Net Sales (the "Net Sales Bonus") equal to $1,667 (or a prorated portion of such amount for the fiscal years ending June 30, 1999 and June 30, 2004). The Net Sales Bonus shall be paid to Employee by the Company within thirty (30) days of finalization of corporate results pursuant to an audit by the Company's certified accountants during each year of the term hereof. As used herein, the following terms shall have the meanings, or shall be calculated as, set forth below:
Net Sales Bonus. As additional compensation, in exchange for the provision of services, Carriere shall be paid a bonus basex xxxx xhe "Net Sales" of Employer in accordance with the following (the "Net Sales Bonus"):
Net Sales Bonus. If Carriere's employment is terminated pursuant to Section 4.1 (For Cause), Section 4.3 (Voluntary) or Section 4.4 (Death or Disability), he shall receive payment of the Net Sales Bonus based upon Net Sales occurring on or prior to the effective date of his termination of employment with Employer, payable in accordance with Section 2.3 above. If Carriere's employment is txxxxxxxxx pursuant to Section 4.2 (Without Cause), Carriere shall continue to receive xxx xxxx amount of the Net Sales Bonus in the same manner as if his employment had not been terminated.
Net Sales Bonus. Future shall be eligible for bonus payments based on the “Company’s Net Sales”, defined as the Company’s revenues collected during the relevant bonus period, less allowances granted to retailers, markdowns, discounts, commissions, reserves for service outages, customer holdbacks, and expenses, (the “Net Sales Bonus”), as described below.
