Common use of Performance Based Bonus Clause in Contracts

Performance Based Bonus. At the sole discretion of the Board of Directors, the Employee may also be eligible to receive a discretionary annual bonus after the end of the Company's calendar year, provided that the Employee continues to be employed by the Company at such year end. The amount of this bonus, if any, shall be determined by the Board of Directors based on objective or subjective goals set by the Board of Directors in its sole discretion. In the event that the Employee's employment with the Company is terminated by the Company without Cause or is terminated by the Employee for Good Reason other than at calendar year end, the Employee's bonus shall be prorated for such partial year. No bonus shall be payable to Employee with respect to any calendar year of the Company during which Employee's employment is terminated for Cause or Employee terminates his employment without Good Reason.