Short Term Incentive 2015 Sample Clauses

Short Term Incentive 2015. For 2015 the Employee will be provided with an annual target bonus commiserate with other senior executives or if there is no annual bonus plan in 2015, the Employee will be entitled to participate and earn a bonus up to 100% of his Annual Compensation (base salary + Christmas Bonus). Any of these bonuses will be subject to all the following conditions: a) The Employee will be only eligible to participate in one of the bonus plans, b) No bonus is guaranteed and it depends on actual pre-established goals achievements; and c) The Employee must continue to be employed by the Company by December 31, 2015. Should the Employee resign or his employment be terminated before December 31, 2015 for cause according to the Federal Labor Law, the Employee will not be entitled to any partial payment for 2015 Bonus as the main condition to earn the bonus is to continue rendering services for the Company until December 31, 2015. 2015 Bonus will be paid as soon as reasonable practicable after December 31, 2015 and after all deductions and withholdings.