Potential Annual Target Bonuses. In respect of each calendar year falling within the Employment Period, the Employee shall be eligible to earn an annual bonus, depending upon the results of operation of the Company, the Parent, its Subsidiaries and their Affiliates and the personal performance of the Employee, of up to forty percent (40%) of the Employee's Annual Base Compensation for that calendar year (the "POTENTIAL ANNUAL TARGET BONUS") in accordance with the terms of a bonus plan which shall be adopted and maintained in effect by the Board for that calendar year. The amount of the Potential Annual Target Bonus, if any, which is earned by the
Appears in 2 contracts
Samples: Employment Agreement (Sovereign Specialty Chemicals Inc), Employment Agreement (Sovereign Specialty Chemicals Inc)
Potential Annual Target Bonuses. In respect of each calendar year falling within the Employment Period, the Employee shall be eligible to earn an annual bonus, depending upon the results of operation of the Company, the Parent, its Subsidiaries and their Affiliates and the personal performance of the Employee, of up to forty percent (40%) of the Employee's Annual Base Compensation for that calendar year (the "POTENTIAL ANNUAL TARGET BONUS") in accordance with the terms of a bonus plan which shall be adopted and maintained in effect by the Board for that calendar year. The amount of the Potential Annual Target Bonus, if any, which is earned by the
Appears in 1 contract
Samples: Employment Agreement (Sovereign Specialty Chemicals Inc)
Potential Annual Target Bonuses. In respect of each calendar year falling within the Employment Period, the Employee shall be eligible to earn an annual bonus, depending upon the results of operation of the Company, the Parent, its Subsidiaries and their Affiliates and the personal performance of the Employee, of up to forty percent (40%) of the Employee's Annual Base Compensation for that calendar year (the "POTENTIAL ANNUAL TARGET BONUS") in accordance with the terms of a bonus plan which shall be adopted and maintained in effect by the Board for that calendar year. The amount of the Potential Annual Target Bonus, if any, which is earned by theAnnual
Appears in 1 contract
Samples: Employment Agreement (Sovereign Specialty Chemicals Inc)