Common use of Bonus, Incentive, Savings, Profit Sharing and Retirement Plans Clause in Contracts

Bonus, Incentive, Savings, Profit Sharing and Retirement Plans. For each calendar year ending during the Term beginning with the 2017 calendar year, the Executive shall be paid an annual cash performance bonus (an “Annual Bonus”), to the extent earned based on performance against objective, reasonably attainable performance criteria; provided that the Board, in consultation with the Company’s Chief Executive Officer, may determine that subjective criteria may be used to determine the Executive’s Annual Bonus. The performance criteria for any particular calendar year shall be determined in good faith by the Board, after consultation with the Employer’s Chief Executive Officer, no later than ninety (90) days after the commencement of the relevant bonus period. The Executive’s annual bonus opportunity for a calendar year shall equal 80% of the Executive’s Base Salary (the “Target Bonus”) for that year if target levels of performance for that year are achieved. Furthermore, to the extent that the Board establishes threshold, target and maximum (or other similar) ranges or metrics against which Company performance for annual bonuses will be measured, the Executive’s Annual Bonus may be adjusted to reflect the Company’s performance relative to such metrics and/or ranges. The Executive’s Annual Bonus for a bonus period shall be determined by the Board after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Employer generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates. In carrying out its functions under this Section 2(b), the Board shall at all times act reasonably and in good faith. For the 2016 calendar year, the Executive will be eligible to earn incentive compensation in accordance with the terms of the Company’s 2016 Senior Executive Incentive Plan.

Bonus, Incentive, Savings, Profit Sharing and Retirement Plans. For each calendar year ending during the Term beginning with the 2017 calendar year, the Executive shall be paid an annual cash performance bonus (an “Annual Bonus”), to the extent earned based on performance against objective, reasonably attainable performance criteria; provided that . For purposes of any bonus for the Board2017 calendar year, in consultation with the Company’s Chief Executive Officer, may determine that subjective criteria may be used to determine the Executive’s Annual BonusBonus will be prorated to the number of days employed by the Company divided by the number of days in the 2017 calendar year. The performance criteria for any particular calendar year shall be determined in good faith by the BoardCompensation Committee of the Board (the “Compensation Committee”), after consultation with the Employer’s Chief Executive OfficerExecutive, no later than ninety (90) days after the commencement of the relevant bonus period. The Executive’s annual bonus Annual Bonus opportunity for a calendar year shall equal 80100% of the Executive’s Base Salary (the “Target Bonus”) for that year if target levels of performance for that year are achievedachieved and the Executive’s annual bonus opportunity payable at the achievement of maximum levels shall be 200%. Furthermore, to the extent that the Board Compensation Committee establishes threshold, target and maximum (or other similar) ranges or metrics against which Company performance for annual bonuses will be measured, the Executive’s Annual Bonus may be adjusted to reflect the Company’s performance relative to such metrics and/or ranges. The Executive’s Annual Bonus for a bonus period shall be determined by the Board after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Employer generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates. In carrying out its functions under this Section 2(b), the Board Compensation Committee shall at all times act reasonably and in good faith. For the 2016 calendar year, the Executive will be eligible to earn incentive compensation in accordance with the terms of the Company’s 2016 Senior Executive Incentive Plan.

Bonus, Incentive, Savings, Profit Sharing and Retirement Plans. For each calendar year ending during During the Term beginning with Term, and subject to the 2017 calendar yearterms and conditions of applicable plans or programs, the Executive shall be paid an annual cash performance bonus eligible to participate in all bonus, incentive, savings, profit sharing and retirement plans, practices, policies and programs applicable generally to other similarly situated employees of the Company, as adopted or amended from time to time (an “Annual BonusIncentive Plans”). The Company may in its sole discretion, from time to time, award the extent earned based on performance against objectiveExecutive bonus, reasonably attainable performance criteria; provided that incentive or other compensation under such Incentive Plans in such amounts and at such times as the Board determines. Notwithstanding the foregoing, the Board, in consultation with the Company and the Executive have agreed that the Executive shall be entitled to an annual bonus, the amount of which is subject to the Board’s sole, yet reasonable and good faith discretion, and will be determined based upon multiple factors, including, but not limited to, the Company’s Chief Executive Officer, may determine that subjective criteria may be used to determine performance during the applicable calendar year as well as the Executive’s Annual Bonus. The personal performance criteria for any particular calendar year in his role within the Company during the same time period; provided, however, the bonus award is subject to the following criteria: (i) the Executive’s target bonus of meeting all reasonable performance indicators and goals provided to him by the Board shall be determined in good faith by the Board, after consultation with the Employer’s Chief Executive Officer, no later than ninety equal to one hundred percent (90100%) days after the commencement of the relevant bonus period. The Executive’s annual bonus opportunity for a calendar year shall equal 80% of the Executive’s twelve month Base Salary (prorated for the number of days and/or months during which the Executive is employed with the Company during the applicable bonus period) (“Target Bonus”); and (ii) for that year if target levels of performance for that year are achieved. Furthermore, to the extent that the Board establishes threshold, target and maximum (or other similar) ranges or metrics against which Company performance for annual bonuses will be measured, the Executive’s Annual bonus shall in no event exceed two hundred percent (200%) of the Executive’s twelve month Base Salary (prorated for the number of days and/or months during which the Executive is employed with the Company during the applicable bonus period) (“Bonus may Cap”). Notwithstanding anything to the contrary contained herein, the annual bonus awarded to the Executive for his performance during each applicable calendar year shall in no instance be adjusted to reflect less than fifty percent (50%) of the Executive’s twelve month Base Salary (prorated for the number of days and/or months during which the Executive is employed with the Company during the applicable bonus period) (“Minimum Bonus”). The Executive and the Company acknowledge and agree that the Minimum Bonus, the Target Bonus, and the Bonus Cap were freely negotiated, entered into and an agreed upon portion of the total consideration between them as part of both the Company’s performance relative desire to such metrics and/or ranges. The retain the Executive during the Term as well as the Executive’s Annual Bonus desire to work for a bonus period shall be determined by the Board after Company during the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Employer generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates. In carrying out its functions under this Section 2(b), the Board shall at all times act reasonably and in good faith. For the 2016 calendar year, the Executive will be eligible to earn incentive compensation in accordance with the terms of the Company’s 2016 Senior Executive Incentive PlanTerm.

Bonus, Incentive, Savings, Profit Sharing and Retirement Plans. For each calendar year ending during the Term beginning with the 2017 2018 calendar year, the Executive shall be paid an annual cash performance bonus (an “Annual Bonus”), to the extent earned based on performance against objective, reasonably attainable performance criteria; provided that the Board, in consultation with the Company’s Chief Executive Officer, may determine that subjective criteria may be used to determine the Executive’s Annual Bonus. The performance criteria for any particular calendar year shall be determined in good faith by the Board, after consultation with the Employer’s Chief Executive Officer, no later than ninety (90) days after the commencement of the relevant bonus period. The Executive’s annual bonus opportunity for a calendar year shall equal 8050% of the Executive’s Base Salary (the “Target Bonus”) for that year if target levels of performance for that year are achieved. Furthermore, to the extent that the Board establishes threshold, target and maximum (or other similar) ranges or metrics against which Company performance for annual bonuses will be measured, the Executive’s Annual Bonus may be adjusted to reflect the Company’s performance relative to such metrics and/or ranges. The Executive’s Annual Bonus for a bonus period shall be determined by the Board after the end of the applicable bonus period and shall be paid to the Executive when annual bonuses for that year are paid to other senior executives of the Employer generally, but in no event later than March 15 of the year following the year to which such Annual Bonus relates. In carrying out its functions under this Section 2(b), the Board shall at all times act reasonably and in good faith. For the 2016 2018 calendar year, the Executive will be eligible to earn incentive compensation in accordance with the terms of the Company’s 2016 Senior Executive 2018 Short Term Incentive Plan.