Common use of Performance Based Bonus Clause in Contracts

Performance Based Bonus. Executive shall be eligible for performance-based bonuses awarded on an annual calendar year basis provided the Company achieves financial objectives established by the Company’s management and approved by the Board for such calendar year. Executive shall be provided the opportunity to earn up to an additional 150% of Executive’s annual Base Salary then in effect in performance-based bonus compensation for an applicable calendar year. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive.

Performance Based Bonus. Executive shall be eligible for performance-based bonuses awarded on an annual calendar year basis provided the Company achieves financial objectives established by the Company’s management and approved by the Board for such calendar year. Executive shall be provided the opportunity to earn up to an additional 150% of Executive’s annual Base Salary then in effect $300,000 maximum in performance-based bonus compensation for an applicable calendar yearcompensation. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th the end of the first calendar quarter of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive.”

Performance Based Bonus. Executive shall be eligible for performance-based bonuses awarded on an annual calendar year basis provided the Company achieves financial objectives established by the Company’s management and approved by the Board for such calendar year. Executive shall be provided the opportunity to earn up to an additional 150% of Executive’s annual Base Salary then in effect $300,000.00 maximum in performance-based bonus compensation for an applicable in any calendar year. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th 15 of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive.

Performance Based Bonus. Executive shall be eligible for performance-based bonuses awarded on an annual calendar year basis provided the Company achieves financial objectives established by the Company’s management and approved by the Board for such calendar year. Executive shall be provided the opportunity to earn up to an additional 150% of Executive’s annual Base Salary then in effect in performance-based bonus compensation for an applicable calendar yearcompensation. Performance-based bonuses that are earned with respect to any calendar year will be payable no later than March 15th the end of the first calendar quarter of the following calendar year. Notwithstanding anything herein to the contrary, in the event the Company does not achieve the financial objectives approved by the Board for any calendar year, Executive will only be entitled to receive a performance-based bonus pursuant to this Section 3(a) for such calendar year if the Board, in its sole and absolute discretion, elects to pay such a bonus to Executive.”