Common use of MBO Bonus Clause in Contracts

MBO Bonus. Employee will be eligible to receive annual bonuses of --------- up to 30 percent of Employee's annual salary based upon the Company's achievement of various financial and/or other goals established by the Board. In establishing MBO goals and award levels, the Board may consider, among other things, the financial condition of the Company, including its cash position, and whether MBO bonuses should be payable in cash or other consideration. The objectives that govern Employee's bonus eligibility for each year will be communicated to Employee in writing by the Board within a reasonable time (not to exceed 60 days unless otherwise mutually agreed) following the commencement of the applicable year. To the extent earned (which requires that Employee be employed by the Company on the last day of the applicable year unless Employee was terminated without cause or resigned for Good Reason, as defined below), bonuses will be paid to Employee on the later of 30 days after (i) the end of the applicable year, or (ii) the date on which the financial or other data necessary to determine Employee's entitlement to the bonus becomes available. All MBO bonuses will be subject to applicable withholding.

MBO Bonus. Employee will be eligible to receive annual bonuses of --------- up to 30 25 percent of Employee's annual salary based upon the Company's achievement of various financial and/or other goals established by the Board. In establishing MBO goals and award levels, the Board may consider, among other things, the financial condition of the Company, including its cash position, and whether MBO bonuses should be payable in cash or other consideration. The objectives that govern Employee's bonus eligibility for each year will be communicated to Employee in writing by the Board within a reasonable time (not to exceed 60 days unless otherwise mutually agreed) following the commencement of the applicable year. To the extent earned (which requires that Employee be employed by the Company on the last day of the applicable year unless Employee was terminated without cause or resigned for Good Reason, as defined below), bonuses will be paid to Employee on the later of 30 days after (i) the end of the applicable year, or (ii) the date on which the financial or other data necessary to determine Employee's entitlement to the bonus becomes available. All MBO bonuses will be subject to applicable withholding.