Common use of Target Bonus Plan Clause in Contracts

Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the “Target Bonus Plan”), which will provide for the payment of lump sum cash bonuses to participants after the end of the calendar year to which such cash bonuses relate (and in any event no later than March 15 of the year following the calendar year to which such cash bonuses relate). Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the “Target Bonus”) each year of not less than 150% of the Executive’s Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company’s financial performance, the Executive’s contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.

Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the “Target Bonus Plan”), which will provide for the payment of lump sum cash bonuses to participants after the end of the calendar year to which such cash bonuses relate (and in any event no later than March 15 of the year following the calendar year to which such cash bonuses relate). Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the “Target Bonus”) each year of not less than 150175% of the Executive’s Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company’s financial performance, the Executive’s contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.

Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the “Target Bonus Plan”), which will provide for the payment of lump sum cash bonuses to participants after the end of the calendar year to which such cash bonuses relate (and in any event no later than March 15 of the year following the calendar year to which such cash bonuses relate). Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the “Target Bonus”) each year of not less than 150140% of the Executive’s Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company’s financial performance, the Executive’s contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.

Target Bonus Plan. During the Term, the Company shall maintain and the Executive shall be entitled to participate in an annual incentive bonus plan open to senior employees and certain other employees of the Company (the “Target Bonus Plan”), which will provide for the payment of lump sum cash bonuses to participants after the end of the calendar year to which such cash bonuses relate (and in any event no later than March 15 of the year following the calendar year to which such cash bonuses relate). Under the Target Bonus Plan, the Executive will be eligible to earn a target bonus (the “Target Bonus”) each year of not less than 150230% of the Executive’s Base Salary for such year. Criteria for earning the Target Bonus will be established by the Compensation Committee based on the Company’s financial performance, the Executive’s contributions to the Company and other appropriate factors. The amount of the Target Bonus earned will be based on the performance of the Company and the Executive against such criteria as well as other factors deemed relevant by the Compensation Committee; provided, however, that the Executive shall receive a Target Bonus each year equal to not less than 5% of the maximum Target Bonus. The establishment of such criteria and the necessary standards of performance for partial or full earning of the Target Bonus shall be at the sole discretion of the Compensation Committee.