Quarterly Bonuses. During the Employment Period, Executive shall be eligible to participate in the Company’s incentive bonus plan applicable to the Company’s senior executives and to earn a target bonus of 58% of Base Salary paid during each quarter of a fiscal year (the “Target Bonus”), based on the attainment of Company budgeted EBITDA for each such quarter, as contained in the annual budget presented by executive management of the Company and approved by the Board or the Compensation Committee thereof (and for the remainder of 2008, to be agreed to and set forth on Exhibit A hereto no later than July 14, 2008). The amount of each Target Bonus will be increased or decreased by the same percentage that actual EBITDA is greater or less than budgeted EBITDA for a given fiscal quarter, provided that if actual EBITDA is less than 50% of budgeted EBITDA, no Target Bonus will be payable for such quarter. Any quarterly bonus shall be paid by the Company to Executive as soon as practicable following the quarter-end determination of such bonus, but in any event within thirty (30) days after the end of the fiscal quarter in which such bonus is earned, subject to and conditioned upon Executive’s continued employment with the Company through the date on which such bonus is paid (the “Bonus Payment Date”).
Quarterly Bonuses. Not later than 15 days after the end of each calendar quarter during the term of this Agreement, the Board of Directors of the Company shall consider comments from Executive’s direct-report as well as use the following guidelines in determining bonuses for Executive up to $225,000 annually:
(i) Project completion bonuses; a minimum of $6,250 quarterly ($25,000 annually) and maximum of $25,00 quarterly ($100,000 annually). Factors to consider shall include:
(A) percentage of various projects completed during each quarterly period; and
(B) projects, products or milestones completed, shipped or launched in each quarterly period.
(ii) Performance bonuses; up to $31,250 quarterly ($125,000 annually). Factors to consider shall include:
(A) unit sales goals;
(B) performance reviews; and
(C) Company valuation.
Quarterly Bonuses. For each calendar quarter during the Employment Term, the Employee shall be eligible to receive a performance bonus payable 50% in cash and 50% in stock options with an exercise price equal to the fair market value of Nucleus stock at the time of grant and that vest over a three year period. The Employee's maximum annual performance bonus, based upon his performance each quarter, shall be Sixty Thousand Dollars ($60,000). The quarterly performance bonus criteria shall be as set forth on Schedule I hereto.
Quarterly Bonuses. The Executive shall be eligible to receive cash incentive compensation in the form of a quarterly bonuses based on performance objectives as determined by the CEO, on an annual basis, after consultation with the Executive (the “Quarterly Bonus Payments”). The aggregate of Executive’s target Quarterly Bonus Payments on an annualized basis shall be 50% of his Base Salary. The Quarterly Bonus Payments shall commence with the first full fiscal quarter subsequent to the Effective Date and shall be paid within 30 days after the end of each fiscal quarter.
Quarterly Bonuses. The Board, in its sole discretion, may determine by resolution to pay Mr. Xxxx xxx or any portion of the following quarterly bonuses upon the achievement of the following milestones in any Quarter (defined below):
Quarterly Bonuses. During the term of the Agreement, quarterly bonuses shall be paid to the Employee by the Company in the amount of TWENTY-FIVE THOUSAND ($25,000.00) (U.S.D) per quarter based upon a percentage of achievement of the revenue goals as set forth by the board of directors of the Company in the Company's annual projections.
Quarterly Bonuses. During each calendar quarter of Executive’s employment, except for any quarter that begins or ends during the Notice Period (as defined below), Executive will be eligible to receive a quarterly bonus up to a target of $27,000 USD (the “Quarterly Bonus”). The amount of the Quarterly Bonus (if any) will be determined by the Corporation or its Board of Directors (the “Board”), in their sole discretion, based on Executive’s achievement of the balanced scorecard referenced in Section 2(a) above. The Quarterly Bonus, if any, will be paid to the Executive within thirty (30) calendar days following the approval of the quarter-end financial statements of the Corporation for each quarter. Notwithstanding the foregoing, in the first two years of following the Effective Date, 25% of the any Quarterly Bonus shall be issued in an amount of fully vested options of the Corporation (rounded up) determined by dividing $6,750 by the value of the closing market price of the Corporation’s common shares as of the date prior to the date issued to Executive.
Quarterly Bonuses. If the Company's gross revenue for a quarter ------------------ exceeds $24 million, Employee shall receive a $10,000.00 quarterly bonus; if the Company's gross revenue for a quarter exceeds $27 million, Employee shall receive a $15,000.00 quarterly bonus; or if the Company's gross revenue for a quarter exceeds $30 million, Employee shall receive a $25,000.00 quarterly bonus.
Quarterly Bonuses. (a) In consideration for the performance by Executive of his duties for and on behalf of the Company, and in consideration for Executive’s agreement to terminate certain of his option rights as provided in Section 2 below, Executive shall be paid quarterly cash bonuses, in addition to his base salary and any other cash-based compensation to which Executive may be now or hereafter become entitled, in the amount of $125,000, commencing on March 15, 2003 and payable thereafter on the fifteenth day of the last month of each calendar quarter during the term of this Agreement. The quarterly bonuses payable hereunder shall not exceed $1,500,000 in the aggregate and shall be subject to withholding for all applicable taxes.
(b) Should Executive at any time be indebted to the Company, or otherwise obligated to pay money to the Company for any reason, the Company, at its election, may offset amounts otherwise payable to Executive under this Agreement against any such indebtedness or amounts due from Executive to the Company.
Quarterly Bonuses. During each of the Company's fiscal years during the Employment Term, Executive will be eligible to receive quarterly bonuses based upon achievement of standard bonus criteria established for other Company executives and dependent on Executive's duties and responsibilities at the Company. Such bonus opportunity shall be targeted at 15% of the Base Salary earned in each applicable fiscal quarter and shall be paid within thirty (30) days of the end of the applicable fiscal quarter. Executive will also be entitled to participate in any other management incentive programs that the Company provides to similarly-situated executives.
