Common use of Short Term Incentive Plan Clause in Contracts

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 2013, his STIP target will be $150,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports and the payment for 2013 will be prorated for based on the Effective Date.

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 20132010, his STIP target will be fifty percent (50%) of his Base Salary, or $150,000140,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports and the payment for 2013 will be prorated for based on the Effective Date.

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 20132012, his STIP target will be fifty percent (50%) of his Base Salary, or $150,000155,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports and the payment for 2013 will be prorated for based on the Effective Date.

Short Term Incentive Plan. The Executive shall participate in a Short Term Incentive Plan (“STIP”) established by the Compensation Committee, as the STIP may be modified from time to time. For 2013, his STIP target will be $150,000175,000. Payment under the STIP will be contingent on achieving quantitative and qualitative goals as determined by the Compensation Committee. Payment will be made on a yearly basis after the publication of the audited financial reports and the payment for 2013 will be prorated for based on the Effective Datereports.