Common use of PERFORMANCE BASED INCENTIVE BONUS Clause in Contracts

PERFORMANCE BASED INCENTIVE BONUS. An annual performance-based cash incentive bonus in an amount up to 35% of the Base Salary (the "Bonus"). The Bonus shall be earned and paid in accordance with the Health Power, Inc. Performance-Based Incentive Compensation Plan (the "Incentive Plan"). Under the Incentive Plan, beginning with the 2001 Calendar Year (as defined in Section 6(e), below), and continuing for each Calendar Year thereafter during the First Term or any Renewal Term, as the case may be (each a "Performance Year"), the Board shall establish in writing and in good faith objective performance criteria or goals to be achieved by the Executive for that Performance Year (the "Performance Goals"). A copy of the Performance Goals as established by the Board shall be provided to the Executive. After the completion of each Performance Year, the Board shall review the achievement of the Performance Goals by the Executive and make a determination in good faith as to the amount of the Bonus earned by the Executive based upon the Executive's achievement of such Performance Goals. The Bonus shall be payable as provided in the Incentive Plan.