Common use of Payment of Performance Bonus Clause in Contracts

Payment of Performance Bonus. On or before April 15 each year, the Company shall pay to Executive a cash bonus ("BONUS") of up to 175% of Executive's Base Salary, as determined by the Boards, or the respective Compensation Committees thereof, based on Executive's performance and the performance of the Company during the prior calendar year. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his or the Company's performance in any year, unless Executive is employed through December 31 of such year. All bonus calculations shall be based upon the Company's audited financial statements through the end of the applicable calendar year.

Payment of Performance Bonus. On or before April 15 each year, the Company shall pay to Executive a cash bonus ("BONUS") of up to 17550% of Executive's Base Salary, as determined by the Boards, or the respective Compensation Committees thereof, based on Executive's performance and the performance of the Company during the prior calendar year. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his or the Company's performance in any year, unless Executive is employed through December 31 of such year. All bonus calculations shall be based upon the Company's audited financial statements through the end of the applicable calendar year.

Payment of Performance Bonus. On or before April 15 each year, the Company shall pay to Executive a cash bonus ("BONUS") of up to 17560% of Executive's Base Salary, as determined by the Boards, or the respective Compensation Committees thereof, based on Executive's performance and the performance of the Company during the prior calendar year. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his her or the Company's performance in any year, unless Executive is employed through December 31 of such year. All bonus calculations shall be based upon the Company's audited financial statements through the end of the applicable calendar year.

Payment of Performance Bonus. On or before April 15 each year, the Company shall pay to Executive a cash bonus ("BONUS") of up to 17575% of Executive's Base Salary, as determined by the Boards, or the respective Compensation Committees thereof, based on Executive's performance and the performance of the Company during the prior calendar year. Except as provided in Section 2.2(b), the Company shall not be obligated to pay Executive any Bonus for his or the Company's performance in any year, unless Executive is employed through December 31 of such year. All bonus calculations shall be based upon the Company's audited financial statements through the end of the applicable calendar year.