Common use of Management Bonus Program Clause in Contracts

Management Bonus Program. The performance of the business shall be reviewed at the end of each operating year and compared to such goals as are set forth in the business plan for that year as developed and presented by the Operating Member of the Company and approved by its Management Committee (the "Business Plan"). If the results of operations for the year achieve the net profitability goals for the year specified in the approved Business Plan and Employee's contribution to such performance results are satisfactory as determined in the sole discretion of the Management Committee, a bonus equal to no less than thirty-three percent (33%) of the Employee's Base Salary shall be paid to him (the "Bonus"). If the results of operations for the year exceed the net profitability goals of the approved Business Plan, the amount of the Employee's Bonus may be increased in recognition of the degree to which performance exceeded such goals, and the Employee's contribution to such superior performance results as determined in the sole discretion of the Management Committee. If the results of operations for the year fail to achieve such net profitability goals, the amount (if any) of the Employee's Bonus shall be within the absolute discretion of the Management Committee.

Management Bonus Program. The performance of the business shall be reviewed at the end of each operating year and compared to such goals as are set forth in the business plan for that year as developed and presented by the Operating Member of the Company and approved by its Management Committee (the "Business Plan"). If the results of operations for the year achieve the net profitability goals for the year specified in the approved Business Plan and Employee's contribution to such performance results are satisfactory as determined in the sole discretion of the Management Committee, a bonus equal to no less than thirtytwenty-three five percent (3325%) of the Employee's Base Salary shall be paid to him (the "Bonus"). If the results of operations for the year exceed the net profitability goals of the approved Business Plan, the amount of the Employee's Bonus may be increased in recognition of the degree to which performance exceeded such goals, and the Employee's contribution to such superior performance results as determined in the sole discretion of the Management Committee. If the results of operations for the year fail to achieve such net profitability goals, the amount (if any) of the Employee's Bonus shall be within the absolute discretion of the Management Committee.