Discretionary Incentive Compensation. Executive may be granted incentive compensation in the Company’s discretion. If Company, in its sole and absolute discretion, grants Executive incentive compensation, the terms, amount and payment of such incentive compensation will be determined solely by Company. Such incentive compensation may be payable in either cash or stock of the Company or any combination thereof at the election of the Company and pursuant to terms and conditions established by the Board of Directors of the Company.
Discretionary Incentive Compensation. An additional discretionary bonus of up to 50% of Base Salary may be paid upon the achievement of certain targeted financial results and operational and strategic objectives (the "Discretionary Bonus"). Such targets and objectives shall be established in the Company's annual budget process, and any Discretionary Bonus payable hereunder shall be payable within 30 days after finalization of the Company's audited financial statements for the immediately preceding fiscal year, subject to final Board approval.
Discretionary Incentive Compensation. Executive will be eligible to participate in any discretionary incentive compensation programs that the Company establishes and makes available to executives, in its sole discretion, from time to time. Executive's discretionary compensation will range from 0 to 35% of his then current annual base salary. As this is discretionary, any failure by the Board to provide compensation under this section shall not give rise to any claim by the Executive for unpaid compensation.
Discretionary Incentive Compensation. Employee shall be entitled to participate in any incentive programs which may be adopted from time to time by Employer for Employee. Amounts awarded to Employee under any said incentive program shall be determined at the sole discretion of Employer, including the vesting of any incentive awards. If either the Employer or Employee choose not to negotiate a subsequent Agreement, for reasons other than those included in paragraph 19, on the conclusion of this Agreement, the incentive award earned for the 2004 year will be paid in full as if Employee were still employed.
Discretionary Incentive Compensation. Employee shall be entitled to participate in any incentive programs which may be adopted from time to time by Employer for Employee. Amounts awarded to Employee under any said incentive program shall be determined at the sole discretion of Employer, including the vesting of any incentive awards.
Discretionary Incentive Compensation. A discretionary bonus for any year within the Employment Period may be paid upon the achievement of certain targeted financial results and operational and strategic objectives as may be determined by the Compensation Committee of the Board pursuant to such bonus plans as the Committee may in its discretion adapt. The bonus amount, bonus calculation and targets will be subject to the Employee Summary Agreement then in affect. Such targets and objectives shall be established in the Company’s, annual budget process, and any discretionary bonus payable hereunder shall be payable no later than the date discretionary bonuses are payable to other officers of the Company. Any discretionary bonus paid to Executive hereunder shall be referred to herein as a “Discretionary Bonus.”
Discretionary Incentive Compensation. For 2005 and thereafter Executive shall participate in the Executive Bonus Plan under which Executive shall be eligible for bonuses based upon the achievement of certain targeted financial results and operational and strategic objectives as determined by the Compensation Committee as part of the 2005 annual budget and subsequent budgets. Such targets and objectives shall be established in the Company’s annual budget process, and any discretionary bonus payable hereunder shall be payable within 30 days after finalization of the Company’s audited financial statements for the immediately preceding fiscal year, subject to final Board approval. Any discretionary bonus paid to Executive hereunder shall be referred to herein as a “Discretionary Bonus.”
Discretionary Incentive Compensation. All compensation distributed through this portion of the compensation plan shall be solely at the discretion of the Board Compensation Committee as deemed appropriate, except, however, that the Board Compensation Committee shall review the Employee eligibility for discretionary bonuses at least once a year being December 1 of each year (“Discretionary Bonus Review”). Employee’s Discretionary Bonus Review shall always be preceded by a formal review by the Board’s committee of Employee’s overall performance for the period since the last review. The factors to be considered are as follows:
Discretionary Incentive Compensation. A discretionary bonus for 2004 may be paid upon the achievement of certain targeted financial results and operational and strategic objectives provided, however, that Company agrees that for 2004 Executive shall receive a bonus at the semi-annualized rate of $19,000 which shall be payable quarterly. Notwithstanding anything to the contrary herein, the maximum discretionary bonus that Executive may earn during 2004 shall be pro-rated based on the number of days in the Employment Period during 2004. For 2005 Executive shall participate in the Region Managers Bonus Plan under which Executive shall be eligible for bonuses based upon the achievement of certain targeted financial results and operational and strategic objectives as determined by the Compensation Committee as part of the 2005 annual budget. Such targets and objectives shall be established in the Company’s, annual budget process, and any discretionary bonus payable hereunder shall be payable within 30 days after finalization of the Company’s audited financial statements for the immediately preceding fiscal year subject to final Board approval. Any discretionary bonus paid to Executive hereunder shall be referred to herein as a “Discretionary Bonus.”
Discretionary Incentive Compensation. For the 2006 fiscal year, Executive shall receive a bonus of $35,000 (the “FY 2006 Bonus”). Beginning with the 2007 fiscal year, an additional discretionary bonus at a targeted amount equal to 75% of Base Salary may be paid to Executive upon the achievement of certain targeted financial results and operational and strategic objectives as determined by the compensation committee of the Board (the “Compensation Committee”) as part of each annual budget consistent with the discretionary bonus plan for other Company senior management. Such targets and objectives shall be established in Company’s annual budget process, and any discretionary bonus payable hereunder shall be payable within 30 days after finalization of Company’s audited financial statements for the fiscal year with respect to which such targets or objectives relate, subject to final Compensation Committee approval; provided, however, that the FY 2006 Bonus will be paid by February 28, 2007. The Discretionary Bonus (as hereinafter defined) shall be determined on a pro rata basis for any period described in Article 3 that is not equal to twelve months. Subject to the fiduciary duties of Holdings’ Board under applicable law as advised by counsel and the execution by Executive of a Non-Qualified Stock Option Agreement, the Board of Holdings shall grant Executive options to acquire 750 shares of common stock at its next regularly scheduled meeting pursuant to the MSG WC Holdings Corp. 2006 Stock Option Plan. The initial grant of options to acquire 750 shares of common stock shall have an exercise price of $1,255.59 per share.
