Common use of Short-Term Incentive Awards Clause in Contracts

Short-Term Incentive Awards. (i) Employee shall be eligible for an annual cash short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b). The target STI Award for each fiscal year shall be 100% of Base Salary (or such greater percentage of Base Salary as the Board or Compensation Committee shall determine, in its sole discretion) and, if earned, shall be paid by no later than March 15th of each year with respect to the preceding year.

Short-Term Incentive Awards. (i) Employee shall be eligible for an annual cash short-term incentive award determined by the Compensation Committee in respect of each fiscal year (or partial fiscal year) during the Term of Employment (the “STI Award”) in accordance with this Section 4(b). The target STI Award for each fiscal year shall be 10050% of Base Salary (or such greater percentage of Base Salary as the Board or Compensation Committee shall determine, in its sole discretion) and, if earned, shall be paid by no later than March 15th of each year with respect to the preceding year.