Performance Bonus Opportunity. For calendar year 2013, Executive will be eligible to earn and receive a performance bonus, to a target of $274,731, which bonus amount will be discretionary and awarded by the Board, based upon the recommendations of the Compensation Committee of the Board.
Performance Bonus Opportunity. Subject to Section 2 below, upon the occurrence of a Corporate Change (as defined in the Employment Agreement) in which the holders of the Company’s common stock receive per share consideration that is equal to or greater than $2.00, subject to adjustment in accordance with Section 5 of the Waitr Holdings Inc. 2018 Omnibus Incentive Plan, the Company shall pay to Executive an amount equal to $5 million (the “Performance Bonus”). Notwithstanding anything to the contrary herein, the Performance Bonus, if any, shall only be paid to Executive upon the first Corporate Change to occur following the Effective Date and any subsequent transaction shall not confer upon Executive any rights hereunder.
Performance Bonus Opportunity. For calendar year 2004, Employee will be eligible to earn and receive a performance bonus, to a target of $75,000, based on the achievement of target goals and milestones to be agreed upon between Employee and the Compensation Committee of the Company’s Board of Directors, which agreement is to be ratified and adopted at the first meeting of the Company’s Board of Directors held following the commencement of Employee’s employment hereunder. For calendar year 2005, the target amount of this bonus opportunity will be $150,000, subject to achievement of agreed goals and milestones. For calendar years after 2005, Employee will be entitled to participate in a senior management bonus plan at a bonus percentage or target amount appropriate to the then stage of the Company’s development and commensurate with the compensation of other chief executive officers of comparable companies, but in no event less than $150,000 per calendar year. Until the Company completes at least two consecutive quarters of positive operating cash flow, 20% of the performance bonus will be payable in the form of shares of the then most recently issued series of Preferred Stock of the Company, at the most recent issuance price of that stock.
Performance Bonus Opportunity. (a) Executive shall be eligible to receive a one-time cash payment equal to $250,000 (the “Teams Launch Bonus”) in the event that the “Diligent Teams” product, which shall consist of a native iOS application made available from the Apple’s “App Store” as well as a native Microsoft Windows desktop application that will be made available for download from the Company’s digital infrastructure and/or through a traditional desktop installation package, is released and commercially available to the Company’s customers on or before September 30, 2015. The Teams Launch Bonus, if earned, shall be paid to Executive in the calendar month following the month in which the “Diligent Teams” product is released and commercially available, whether or not Executive is then employed by the Company, so long as Executive continues to be employed with the Company at least through June 30, 2015; provided, however, that Executive shall not be entitled to such payment if he was terminated for Cause prior to the date of payment.
(b) Executive shall be eligible to receive an annual cash bonus (the “Bonus”) as follows:
(i) for the fiscal year ending December 31, 2015, an amount equal to fifty percent (50%) of Teams Bookings, if any, in such fiscal year, provided, that such Bonus shall not exceed $500,000; and
(ii) for the fiscal year ending December 31, 2016, an amount equal to twenty-five percent (25%) of Teams Bookings, if any, in such fiscal year, provided, that no Bonus shall be payable unless Teams Bookings in such fiscal year exceed $1,000,000 and provided, further, that such Bonus shall not exceed $1,000,000. Any Bonus payable hereunder shall be paid in the fiscal year following the fiscal year to which such Bonus relates and within thirty (30) days following completion of the Company’s annual financial audit, subject to Executive’s continued employment with the Company at the time of payment and to certification by the Compensation Committee (or a subcommittee thereof) that the performance target has been achieved, and the level of achievement (which certification shall be conducted in good faith).
(c) Executive shall be eligible for an annual cash bonus for each fiscal year during the Term following December 31, 2016 in an amount determined by the Compensation Committee in the same manner as for other similarly situated senior executives.”
Performance Bonus Opportunity. For calendar year 2009, Executive will be eligible to earn and receive a performance bonus, to a target of $256,470, which bonus amount will be discretionary and awarded by the Board, based upon the recommendations of the Compensation Committee of the Board. For calendar year 2010, the target amount of this bonus opportunity will be not less than $150,000. For calendar years after 2010, Executive will be entitled to participate in a senior management bonus plan at a bonus percentage or target amount appropriate to the then stage of the Company’s development and commensurate with the compensation of other chief executive officers of comparable companies, but in no event less than $150,000 per calendar year.
