Common use of Bonus Opportunity Clause in Contracts

Bonus Opportunity. For each fiscal year during the Employment Period, Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) under the terms of the Company’s annual bonus plan as in effect from time to time, based on the achievement of performance criteria established by the Board or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Period. For fiscal year 2021, Executive shall be eligible to receive an Annual Bonus equal to fifty percent (50%) of his Annual Base Salary earned in 2021 if threshold performance is attained, an Annual Bonus equal to one hundred percent (100%) of his Annual Base Salary earned in 2021(“Target Bonus”) if target performance is attained and an Annual Bonus equal to one hundred fifty percent (150%) of his Annual Base Salary earned in 2021 if performance equals or exceeds the maximum performance level established. The threshold, target and maximum Annual Bonus for each subsequent fiscal year of the Term and the corresponding performance criteria shall be determined in good faith by the Board or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Period. In respect to the Annual Bonus for the final year of the Term, as may be extended pursuant to Section 2(b), provided that Executive is employed by the Company until the expiration of the Term and that Executive’s employment was not terminated for Cause by the Company following the Term, any qualitative performance evaluation will be performed by December 16 of the final year, and the achievement of quantitative performance metrics shall be determined based on actual performance for the final year and determined on or before March 31 of the year following the final year of the Term, whether or not Executive is employed during the year following the final year.  Payment of Annual Bonuses to Executive, if any, shall be made in the same manner and at the same time that other senior-level executives receive their annual bonus awards, but in any event on or before the end of the first quarter following the end of the applicable performance year.  • During the Employment Period, Executive shall be eligible to be granted long term incentive or equity awards as may be determined by the Board or the Compensation Committee in its sole discretion under such plans and programs as may be in effect from time to time. 

Bonus Opportunity. For each fiscal year during the Employment Period, Executive shall be eligible entitled to receive an annual bonus (the “Annual Bonus”) under the terms of the Company’s annual bonus plan as in effect from time to time, based on the achievement of performance criteria established by the Board or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Period. For fiscal year 2021, Executive shall be eligible entitled to receive an Annual Bonus equal to fifty percent (50%) of his Annual Base Salary earned in 2021 if threshold performance is attained, an Annual Bonus equal to one hundred percent (100%) of his Annual Base Salary earned in 2021(“Target Bonus”) if target performance is attained and an Annual Bonus equal to one two hundred fifty percent (150200%) of his Annual Base Salary earned in 2021 if performance equals or exceeds the maximum performance level established. The threshold, target and maximum Annual Bonus for each subsequent fiscal year of the Term and the corresponding performance criteria shall be determined in good faith by the Board or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Period. In respect to the Annual Bonus for the final year of the Term, as may be extended pursuant to Section 2(b), provided that Executive is employed by the Company until the expiration of the Term and that Executive’s employment was not terminated for Cause by the Company following the Term, any qualitative performance evaluation will be performed by December 16 of the final year, and the achievement of quantitative performance metrics shall be determined based on actual performance for the final year and determined on or before March 31 of the year following the final year of the Term, whether or not Executive is employed during the year following the final year.  Payment of Annual Bonuses to Executive, if any, shall be made in the same manner and at the same time that other senior-level executives receive their annual bonus awards, but in any event on or before the end of the first quarter following the end of the applicable performance year.  • During the Employment Period, Executive shall be eligible to be granted long term incentive or equity awards as may be determined by the Board or the Compensation Committee consistent with the terms set forth in its sole discretion under such plans and programs the 2021-2022 LTIP Award Term Sheet attached to this Agreement as may be in effect from time to time. Exhibit A. 

Bonus Opportunity. For each fiscal year during the Employment Period, Executive shall be eligible to receive an annual bonus (the “Annual Bonus”) under the terms of the Company’s annual bonus plan as in effect from time to time, based on the achievement of performance criteria established by the Board or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Period. For fiscal year 2021, Executive shall be eligible to receive an Annual Bonus equal to fifty twenty percent (5020%) of his Annual Base Salary earned in 2021 if threshold performance is attained, an Annual Bonus equal to one hundred forty percent (10040%) of his Annual Base Salary earned in 2021(“Target Bonus”) if target performance is attained and an Annual Bonus equal to one hundred fifty sixty percent (15060%) of his Annual Base Salary earned in 2021 if performance equals or exceeds the maximum performance level established. The threshold, target and maximum Annual Bonus for each subsequent fiscal year of the Term and the corresponding performance criteria shall be determined in good faith by the Board or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Period. In respect to the Annual Bonus for the final year of the Term, as may be extended pursuant to Section 2(b), provided that Executive is employed by the Company until the expiration of the Term and that Executive’s employment was not terminated for Cause by the Company following the Term, any qualitative performance evaluation will be performed by December 16 of the final year, and the achievement of quantitative performance metrics shall be determined based on actual performance for the final year and determined on or before March 31 of the year following the final year of the Term, whether or not Executive is employed during the year following the final year.  Payment of Annual Bonuses to Executive, if any, shall be made in the same manner and at the same time that other senior-level executives receive their annual bonus awards, but in any event on or before the end of the first quarter following the end of the applicable performance year.  • During the Employment Period, Executive shall be eligible to be granted long term incentive or equity awards as may be determined by the Board or the Compensation Committee in its sole discretion under such plans and programs as may be in effect from time to time. 

Bonus Opportunity. For each fiscal year during the Employment Period, The Executive shall be eligible to receive for an annual bonus (opportunity as provided herein during the “Annual Bonus”) under Service Period. With respect to calendar year 2021, the terms Executive’s bonus will be equal to $160,000 and will be paid on or prior to March 15, 2022. For each calendar year thereafter, the bonus award for each applicable year will be determined on the basis of the degree of achievement of the Company’s annual bonus business plan objectives for such year or years, as in effect from time to time, based on the achievement of performance criteria established shall be determined by the compensation committee of the Board (or the Compensation Committee within Board, in the first three (3) months absence of each fiscal year that begins during the Employment Periodcompensation committee). For fiscal each year 2021of the Service Period beginning with the 2022 calendar year, Executive shall the target bonus will be eligible to receive an Annual Bonus equal to fifty thirty percent (5030%) of his Annual the Executive’s Base Salary earned in 2021 Salary. For each year of the Service Period beginning with the 2022 calendar year, the Executive will not receive a bonus if threshold performance the degree of achievement of the business plan objectives is attained, an Annual Bonus equal to one hundred less than eighty percent (10080%), and the bonus will range in value from twenty-four percent (24%) of his Annual the Executive’s Base Salary earned in 2021(“Target Bonus”) if target performance the degree of achievement of the business plan objectives is attained and an Annual Bonus equal to one hundred fifty eighty percent (15080%) up to a maximum of thirty-seven and one half percent (37.5%) of his Annual the Executive’s Base Salary earned in 2021 if performance equals or exceeds the maximum performance level established. The threshold, target and maximum Annual Bonus for each subsequent fiscal year degree of achievement of the Term business plan objectives is one hundred twenty-five percent (125%) or more, and the corresponding performance criteria such bonus shall be determined proportionally as to degree of achievement of the business plan between such low range of 24% and such upper range of 37.5%. Any such bonus with respect to a year in good faith by which the Board Service Period terminates shall be payable in full or the Compensation Committee within the first three (3) months of each fiscal year that begins during the Employment Periodon a pro-rated basis as more specifically provided herein. In An annual review with respect to the Annual Bonus Executive’s performance for purposes of determining his annual bonus and equity incentive grants pursuant to subsection (c) below will be conducted by the final year compensation committee of the TermBoard (or the Board, as may be extended in the absence of the compensation committee) in the first quarter of each calendar year after the Company’s audited financial statements and other applicable performance data relating to the prior year’s performance become available, and any bonus earned and payable pursuant to this Section 2(b)) shall be paid within thirty (30) days after the Board has completed its annual review, provided that so long as the Executive is employed by the Company until as of the payment date, except such employment condition shall not apply with regard to any bonus (i) earned pursuant to this Section 2(b) during the final calendar year prior to the expiration of this Agreement pursuant to Section 4(a) and payable after the Term and that Executive’s employment was not terminated for Cause by date of expiration, but within the Company following the Term, any qualitative performance evaluation will be performed by December 16 of the final year, and the achievement of quantitative performance metrics shall be determined based on actual performance for the final year and determined on or before March 31 of the year following the final calendar year of the Termexpiration, whether or not Executive is employed during the year following the final year(ii) earned pursuant to this Section 2(b) and payable as Accrued Obligations pursuant to Section 6(a) or Section 6(b) hereof.  Payment of Annual Bonuses to Executive, if any, shall be made in the same manner and at the same time that other senior-level executives receive their annual bonus awards, but in any event on or before the end of the first quarter following the end of the applicable performance year.  • During the Employment Period, Executive shall be eligible to be granted long term incentive or equity awards as may be determined by the Board or the Compensation Committee in its sole discretion under such plans and programs as may be in effect from time to time. EXECUTION VERSION