Common use of December 2004 Clause in Contracts

December 2004. The third bonus cycle shall commence on 1 January 2005 and terminate on 30 June 2005. The fourth bonus cycle shall commence on 1 July 2005 and terminate on 30 November 2005. Should the Executive meet all the targets set in terms of the key performance indicators agreed to in respect of a specific bonus cycle he shall be entitled to a bonus of 50 (fifty) per cent of his Remuneration Package. Should the Executive not fully meet all the targets set in terms of the key performance indicators as agreed, he shall be entitled to such lesser bonus as determined by the Group Remuneration Committee. This bonus will be determined with reference to the extent that the targets have been met.