Common use of Short Term Incentive Plan Clause in Contracts

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 2013, his STIP target will be $175,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports.

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 20132010, his STIP target will be fifty percent (50%) of his Base Salary, or $175,000140,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports.

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 20132012, his STIP target will be fifty percent (50%) of his Base Salary, or $175,000155,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports.

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 2013, his STIP target will be $175,000150,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reportsreports and the payment for 2013 will be prorated for based on the Effective Date.