Second Year Bonus. Executive shall be eligible to receive a bonus of up to $35,000.00 payable on the next regular paydate following the two year anniversary of the Commencement Date (the “Second Year Bonus”), provided Executive is actively employed in good standing on such date. Seventy percent (70%) of the Second Year Bonus shall be based upon the Company’s determination of whether the Company has achieved certain designated milestones (such milestones to be communicated to Executive in advance of Second Year) and thirty percent (30%) of the Second Year Bonus shall be based upon the Company’s assessment of the Executive’s performance, as determined in the Board’s discretion and judgment.
Second Year Bonus. At the conclusion of the second anniversary of the Employment Agreement, and so long as the Employee remains employed with the Company as of that date and has satisfied the below-identified Performance Target(s), Employee will be deemed to have earned, and the Company will pay to Employee within a reasonable time thereafter, an Incentive Bonus equal to the amounts as stated:
Second Year Bonus. During the second full contract year (i.e., October 27, 2004 through October 26, 2005) of the Agreement, and so long as Executive remains employed by the Company, the Executive shall be paid a bonus in the aggregate amount of 50% of Executive's base annual salary for that contract year in four installments, on the following dates:
Second Year Bonus. On September 14, 2006, the Employee will receive a bonus (a “Second Year Bonus”) (i) in the amount of $75,000; plus (ii) based upon performance targets established by the Parent’s Board of Directors, within 15 days following the second anniversary of the Agreement, a bonus in an amount equal to (a) 50% of base salary if at least 100% of the performance targets are achieved, (b) 75% of base salary if at least 120% of the performance targets are achieved, and (c) 100% of base salary if at least 135% of the performance targets are achieved. Any Second Year Bonus will be paid 50% in cash and 50% in shares of the Common Stock of the Parent (based on the closing market price of the Common Stock on the second anniversary of this Agreement), subject to withholding from the cash portion for applicable federal and state income and employment taxes. The full portion of the Second Year Bonus payable in cash will be paid in eight consecutive installments corresponding to the Parent’s regular payroll payment dates, beginning with the first payroll date following September 14, 2006. The full portion of the Second Year Bonus payable in Common Stock of the Parent will be payable on October 15, 2006; provided, that in the event the Common Stock portion of the Second Year Bonus is not paid by October 15, 2006, the Employee will have the option to receive the amount due and payable in cash subject to withholding tax, and such amount will be paid in eight consecutive installments corresponding to the Parent’s regular payroll payment dates, beginning with the first payroll date following October 15, 2006.
Second Year Bonus. Based upon performance targets established by the Parent’s Board of Directors, within 30 days following the second anniversary of the Agreement the Employee will receive a bonus in an amount equal to (i) 50% of base salary if at least 100% of the performance targets are achieved, (ii) 60% of base salary if at least 120% of the performance targets are achieved, and (iii) 70% of base salary if at least 135% of the performance targets are achieved. Any such bonus will be paid 50% in cash and 50% in shares of the Common Stock (based on the closing market price of the Common Stock on the second anniversary of this Agreement), subject to withholding from the cash portion for applicable federal and state income and employment taxes.
