Common use of Non-Equity Incentive Compensation Clause in Contracts

Non-Equity Incentive Compensation. For the fiscal years ending June 30, 2015 and June 30, 2016, Employee shall receive a bonus in the maximum aggregate amount of 40% of the Base Salary set forth in Paragraph 3.1 only if she achieves the goals and milestones set forth in the CEO Bonus Plan implemented for the applicable fiscal year, as such goals have been determined by, and as achievement against such goals will be evaluated by, the Personnel and Compensation Committee of the Board of Directors. Future Non-Equity Incentive Compensation will be determined by the Personnel and Compensation Committee or the Board of Directors in their discretion. If a bonus is earned in accordance with this Paragraph 3.2, it will be paid to Employee by the Corporation regardless of whether she is employed by the Corporation on the date payable.

Appears in 1 contract

Samples: Employment Agreement (Electromed, Inc.)

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Non-Equity Incentive Compensation. For the fiscal years year ending June 30, 2015 and June 30, 20162013, Employee shall receive a bonus in the maximum aggregate amount of 4020% of the Base Salary base salary set forth in Paragraph 3.1 only if she achieves the goals and milestones set forth in the Fiscal 2013 CEO Bonus Plan implemented for the applicable fiscal yearPlan, as such goals have been determined by, and as achievement against such goals will be evaluated by, the Personnel and Compensation Committee of the Board of Directors. Future Non-Equity Incentive Compensation will be determined by the Personnel and Compensation Committee or the Board of Directors in their discretion. If a bonus is earned in accordance with this Paragraph 3.2, it will be paid to Employee by the Corporation by December 31, 2013 regardless of whether she is employed by the Corporation on the date payable.

Appears in 1 contract

Samples: Employment Agreement (Electromed, Inc.)

Non-Equity Incentive Compensation. For the fiscal years year ending June 30, 2015 and June 30, 20162014, Employee shall receive a bonus in the maximum aggregate amount of 4030% of the Base Salary base salary set forth in Paragraph 3.1 only if she achieves the goals and milestones set forth in the CEO Fiscal 2014 Officer Bonus Plan implemented for the applicable fiscal yearPlan, as such goals have been determined by, and as achievement against such goals will be evaluated by, the Personnel and Compensation Committee of the Board of Directors. Future Non-Equity Incentive Compensation will be determined by the Personnel and Compensation Committee or the Board of Directors in their discretion. If a bonus is earned in accordance with this Paragraph 3.2, it will be paid to Employee by the Corporation by December 31, 2014 regardless of whether she is employed by the Corporation on the date payable.”

Appears in 1 contract

Samples: Employment Agreement (Electromed, Inc.)

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Non-Equity Incentive Compensation. For the fiscal years ending June 30, 2015 and June 30, 2016, Employee shall receive a bonus in the maximum aggregate amount of 4030% of the Base Salary base salary set forth in Paragraph 3.1 only if she he achieves the goals and milestones set forth in the CEO CFO Bonus Plan implemented for the applicable fiscal year, as such goals have been determined by, and as achievement against such goals will be evaluated by, the Personnel and Compensation Committee of the Board of Directors. Future Non-Equity Incentive Compensation will be determined by the Personnel and Compensation Committee or the Board of Directors in their discretion. If a bonus is earned in accordance with this Paragraph 3.2, it will be paid to Employee by the Corporation regardless of whether she he is employed by the Corporation on the date payable.

Appears in 1 contract

Samples: Employment Agreement (Electromed, Inc.)

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