Common use of Bonus Equity Clause in Contracts

Bonus Equity. 5.1 You will be eligible to earn a cash bonus for each fiscal year of the Parent Company ending during the Employment Term, you will be eligible to earn an annual cash bonus (“Annual Bonus”). Your target Annual Bonus is 125% of your current remuneration if the Parent Company achieves certain performance objectives and subject to your individual performance pursuant to the Parent Company’s 2013 Executive Annual Incentive Plan (as may be amended from time to time) or any successor plan. Except as provided in Clauses 14, 15, 16 and 18 below the Annual Bonus for each period will be paid only if you are actively employed with the Company on the date of disbursement. Any Annual Bonus payable hereunder shall be paid in the calendar year following the applicable fiscal year of the Parent Company, after it has been determined by the Compensation Committee of the Board of Directors of the Parent Company (the “Compensation Committee”). 5.2 You will be eligible to participate in the Parent Company’s 2013 Executive Long Term Equity Compensation Program (the “Program”) (as may be amended from time to time) or a successor plan with an initial annual target share or unit award valued at $1,400,000 subject to the rules of the Program and an award agreement in such form as the Compensation Committee may determine from time to time.