Common use of Short Term Incentives Clause in Contracts

Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the President and Chief Financial Officer level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period (including for all of 2011, in part, as compensation for services performed for Employer’s predecessor), the maximum Annual Bonus shall not be less than $400,000 (the “Target Annual Bonus”). The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the thirtieth day following the Board’s approval of the audit if the short-term incentive plan is conditioned on the receipt of an audit, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus (except as otherwise provided in Section 5 hereof).

Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the President and Chief Financial Officer [ ] level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period (including for all of 2011, in part, as compensation for services performed for Employer’s predecessor), the maximum Annual Bonus shall not be less than $400,000 [ ] (the “Target Annual Bonus”). The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the thirtieth day following the Board’s approval of the audit if the short-term incentive plan is conditioned on the receipt of an audit, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus (except as otherwise provided in Section 5 hereof).

Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the President and Chief Financial Executive Officer level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period (including for all of 2011, in part, as compensation for services performed for Employer’s predecessor), the maximum Annual Bonus shall not be less than $400,000 (the “Target Annual Bonus”). The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the thirtieth day following the Board’s approval of the audit if the short-term incentive plan is conditioned on the receipt of an audit, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus (except as otherwise provided in Section 5 hereof).

Short Term Incentives. For each calendar year ending during the Employment Period, the Executive shall be eligible to participate in the Employer’s short-term incentive plan at the President and Chief Financial Officer Executive Chairman of the Board level and to earn an annual cash bonus based on the achievement of performance criteria established by the Board as soon as administratively practicable following the beginning of each such year (the “Annual Bonus”). For each calendar year during the Employment Period (including for all of 2011, in part, as compensation for services performed for Employer’s predecessor), the maximum Annual Bonus shall not be less than $400,000 (the “Target Annual Bonus”). The Employer shall pay the Annual Bonus (if any) for each such calendar year in a single, cash, lump sum after the end of the applicable calendar year in accordance with procedures established by the Board, but in no event later than the thirtieth day following the Board’s approval of the audit if the short-term incentive plan is conditioned on the receipt of an audit, subject to and conditioned upon the Executive’s continued employment with the Employer through the date of payment of such Annual Bonus (except as otherwise provided in Section 5 hereof).