2009 Performance Bonus Clause Samples
2009 Performance Bonus. The Consultant shall be eligible to receive a performance bonus for services provided as the Company’s Chief Executive Officer in 2009 (the “2009 Performance Bonus”), up to a maximum of $101,562.50 (which amount is equal to 50% of the base salary under the Employment Agreement which was earned by the Consultant in 2009 prior to the Termination Date). The actual amount of the 2009 Performance Bonus shall be determined by the Board in its sole discretion (with the Consultant abstaining) the target amount of which shall be based upon the average percentage of the target bonus paid to other senior executives of the Company. The 2009 Performance Bonus, if any, shall be paid to the Consultant between January 1, 2010 and March 15, 2010, regardless of whether the Engagement is terminated before the determination date or before the payment date.
2009 Performance Bonus. The Compensation Committee, with input from the Executive, shall establish written objective and subjective criteria for a performance bonus for the fiscal year ending on June 30, 2009. Subject to Paragraph 10 below, Executive will be eligible for a target bonus of up to $226,666.00 with fifty (50%) percent of the target, or $113,333, guaranteed. The bonus will be paid as soon as the financial books for the fiscal year are closed and a determination regarding performance has been determined by the Compensation Committee, but no later than September 15, 2009.
2009 Performance Bonus. The Executive shall be eligible for and considered for a bonus (in an amount, if any, determined at the discretion of the Board) for the 2009 calendar year, which shall be paid at the same time other employees are considered for a bonus for such calendar year.