Common use of Short Term Incentive Clause in Contracts

Short Term Incentive. Employee shall be entitled to participate in the Company’s Short Term Incentive plan (“STI”) with a payout target of fifty percent (50%) of Employee’s Base Salary. The structure of the STI from time to time, whether any STI payout will be awarded, and the amount of the STI awarded to Employee, shall be in the discretion of the Compensation Committee of the Board. Since the STI award is intended both to reward past Company and Employee performance and to provide an incentive for Employee to remain with the Company, Employee must remain an active employee through the date that any such STI award is paid in order to be entitled to receive any such award, except as otherwise provided in Section 5.2. Employee will not be paid any STI award (including a prorated award) if Employee’s employment terminates for any reason before the STI is paid to him, except as otherwise provided in Section 5.2. Any earned STI shall be paid, if at all, not later than March 15th of the year following the calendar year as to which performance was measured.

Short Term Incentive. Employee shall be entitled to participate in the Company’s Short Term Incentive plan (“STI”) with a payout target of fifty fourty percent (5040%) of Employee’s Base Salary. The structure of the STI from time to time, whether any STI payout will be awarded, and the amount of the STI awarded to Employee, shall be in the discretion of the Compensation Committee of the Board. Since the STI award is intended both to reward past Company and Employee performance and to provide an incentive for Employee to remain with the Company, Employee must remain an active employee through the date that any such STI award is paid in order to be entitled to receive any such award, except as otherwise provided in Section 5.2. Employee will not be paid any STI award (including a prorated award) if Employee’s employment terminates for any reason before the STI is paid to him, except as otherwise provided in Section 5.2. Any earned STI shall be paid, if at all, not later than March 15th of the year following the calendar year as to which performance was measured.

Short Term Incentive. Employee shall be entitled to participate in the Company’s Short Term Incentive plan (“STI”) with a payout target of fifty seventy percent (5070%) of Employee’s Base Salary. The structure of the STI from time to time, whether any STI payout will be awarded, and the amount of the STI awarded to Employee, shall be in the discretion of the Compensation Committee of the Board. Since the STI award is intended both to reward past Company and Employee performance and to provide an incentive for Employee to remain with the Company, Employee must remain an active employee through the date that any such STI award is paid in order to be entitled to receive any such award, except as otherwise provided in Section 5.2. Employee will not be paid any STI award (including a prorated award) if Employee’s employment terminates for any reason before the STI is paid to him, except as otherwise provided in Section 5.2. Any earned STI shall be paid, if at all, not later than March 15th of the year following the calendar year as to which performance was measured.