Target Incentive Pay Sample Clauses

Target Incentive Pay. The target Incentive Pay (“Target Incentive Pay”) for Employee for the 2009 fiscal year of the Company shall be as follows: One Hundred Sixty Five Thousand Dollars ($165,000); provided, however, that the Target Incentive Pay with respect to any fiscal year is subject to, and may be modified by, the Annual Incentive Plan approved by the Board pursuant to Section 4.01 above and this Section 4.02 shall be read accordingly. After 2009, the Target Incentive Pay for Employee will be set by the Board for each fiscal year and will be included in the Annual Incentive Plan for such year.

Target Incentive Pay. The target Incentive Pay (“Target Incentive Pay”) for Employee for each of the 2007 and 2008 fiscal years of the Company shall be as follows: Six Hundred Fifty Thousand Dollars ($650,000); provided, however, that the Target Incentive Pay with respect to any fiscal year is subject to, and may be modified by, the Annual Incentive Plan approved by the Board pursuant to Section 4.01 above and this Section 4.02 shall be read accordingly. For the 2007 fiscal year, Employee’s Target Incentive Pay, if earned, shall be prorated for the amount of time remaining in the Company’s 2007 fiscal year by dividing the actual number of days of Employee’s employment with the Company during fiscal 2007 by the total number of days in the Company’s fiscal 2007. After 2008, the Target Incentive Pay for Employee will be set by the Board of the Company for each fiscal year and will be included in the Annual Incentive Plan for such year. The Company agrees to establish Employee’s specific financial and performance goals for each Annual Incentive Plan prior to the start of any applicable performance measurement period.

Target Incentive Pay. The target Incentive Pay (“Target Incentive Pay”) for Employee for the 2015 fiscal year of the Company shall be Two Hundred Forty Thousand Dollars (U.S. $240,000), payable on a pro rata basis in accordance with the terms of the Annual Incentive Plan. After 2015, the Target Incentive Pay for Employee will be set by the Compensation Committee for each fiscal year and will be included in the Annual Incentive Plan for such year.

Target Incentive Pay. The target Incentive Pay (the “Target Incentive Pay”) for Employee will be set by the Chief Executive Officer or the Board of Directors of the Company for each fiscal year and will be included in the Annual Incentive Plan for such year.

Target Incentive Pay. The target Incentive Pay ("Target Incentive Pay") for Employee for the fiscal year of the Company ending in 2001 shall be not less than sixty-five percent (65%) of the annual Base Salary set forth above; for the fiscal year of the Company ending in 2002 shall not be less than seventy-five percent (75%) of the annual Base Salary set forth above; and for the fiscal year of the Company ending in 2003 shall not be less than eighty-five percent (85%) of the annual Base Salary set forth above; provided, however, that the Target Incentive Pay with respect to any fiscal year is subject to, and may be modified by, the Annual Incentive Plan approved by the Board of Directors pursuant to Section 4.01 above and this Section 4.02 shall be read accordingly. After 2001, the Target Incentive Pay for Employee as set forth herein will be set by the Chief Executive Officer or the Board of Directors of the Company for each fiscal year and will be included in the Annual Incentive Plan for such year.

Target Incentive Pay. The target Incentive Pay ("Target Incentive Pay") for Employee for the fiscal year of the Company ending in 2004 shall be as follows: Four Hundred and Fifty Thousand and No/100 Dollars (U.S. $450,000.00); provided, however, that the Target Incentive Pay with respect to any fiscal year is subject to, and may be modified by, the Annual Incentive Plan approved by the Board of Directors pursuant to Section 4.01 above and this Section 4.02 shall be read accordingly. Notwithstanding anything herein to the contrary, Employee shall be entitled to Incentive Pay in the minimum amount of One Hundred Thousand Dollars (U.S. $100,000.00) for the fiscal year of the Company ending in 2004, provided that Employee is in the full time employ of the Company as of the last day of such fiscal year. For each fiscal year of the Company during the Term after the fiscal year ending in 2004, the Target Incentive Pay for Employee will be set by the Chief Executive Officer or the Board of Directors of the Company and will be included in the Annual Incentive Plan for such year.

Target Incentive Pay. The target Incentive Pay ("Target Incentive Pay") for Employee for the fiscal year of the Company ending in 2005 shall be as follows: Five Hundred Thousand and No/100 Dollars (U.S. $500,000.00); provided, however, that such increase in Target Incentive Pay for the fiscal year of the Company ending in 2005 shall be pro-rated for the period beginning on September 1, 2005 and ending on December 30, 2005; provided, further, that the Target Incentive Pay with respect to any fiscal year is subject to, and may be modified by, the Annual Incentive Plan approved by the Board of Directors pursuant to Section 4.01 above and this Section 4.02 shall be read accordingly.