Targeted Annual Incentive Bonus. In addition to his Base Salary, the Executive shall be eligible to receive a targeted annual incentive bonus each calendar year based upon achievement of performance goals of the Executive and corporate achievements of the Employer, as determined in the sole discretion of the Compensation Committee, upon consultation with a compensation consultant. The target payout to be 100% of Base Salary which can been amended up or down by the Compensation Committee based on the performance goals. An annual incentive bonus that is earned shall be payable to the Executive within no more than thirty (30) days following the Employer’s determination of the performance goals for the annual period in question (but in no event later than March 15 of the year after such annual period), and shall be accompanied by a certification of the Employer’s Chief Financial Officer describing the determination of the amount of the annual incentive bonus. Subject to the Compensation Committee’s determination of the achievement of the performance goals, the annual incentive bonus for a calendar year shall be earned if the Executive’s employment or service continues until December 31 of that year.
Targeted Annual Incentive Bonus. In addition to his Base Salary, the Executive shall be eligible to receive an annual bonus in RSUs, pro rata to the length of employment, based upon achievement of performance goals of the Executive and corporate achievements of the Employer, as determined in the sole discretion of the Board as advised by the Compensation Committee (upon consultation with a compensation consultant). The performance goals will establish threshold and maximum performance levels ranging from 0 to 20% of Base Salary, and will be settled upon the issuance of additional RSU’s to the Executive. The number of RSUs granted on each award date shall equal the number of shares of common stock of the Employer that have a Fair Market Value on the date of grant equal to that percentage of Base Salary resulting from the Compensation Committee’s determination of the annual performance goals, prorated to length of service. The RSUs shall be subject to the terms of a Restricted Stock Unit Agreement granted under and subject to the Plan, provided, however, in all events shall vest on the first anniversary of the award date, as long as Executive remains continuously employed by Employer during such one year period, and provided further, that any unvested RSU’s that arise due to a separation of Executive’s employment with the Employer prior to the expiration of the Term, shall vest upon the Executive’s death, the termination of the Executive’s employment on account of Disability, termination by the Employer other than For Cause, or termination by the Executive for Good Reason, or upon a Change of Control, to the extent and as set forth in Section 5.2 hereafter. Subject to the Compensation Committee’s determination of the achievement of the performance goals, the annual incentive bonus for a calendar year shall be earned if the Executive’s employment or service continues under an Agreement renewal until December 31 of that year.
Targeted Annual Incentive Bonus. The Company will provide you with 1,350 shares of Company common stock, which amounts to 50% of your targeted annual incentive bonus of 2,700 performance stock units under the 2010 Bonus Plan. The Company will issue these shares of Company common stock to you within thirty (30) days after the Separation Date, provided that you have complied with all of your obligations hereunder.
Targeted Annual Incentive Bonus. In addition to his Base Salary, the Executive shall be eligible to receive a targeted annual incentive bonus each calendar year based upon achievement of performance goals of the Executive and corporate achievements of the Employer, as determined in the sole discretion of the Compensation Committee of the Employer (the “Compensation Committee”), upon consultation with a compensation consultant. The performance goals will establish threshold, target and maximum performance levels ranging from 0% to 100% of Base Salary. An annual incentive bonus that is earned shall be payable to the Executive within no more than thirty (30) days following the Employer’s determination of the performance goals for the annual period in question (but in no event later than March 15 of the year after such annual period), and shall be accompanied by a certification of the Employer’s Chief Financial Officer describing the determination of the amount of the annual incentive bonus. The annual incentive bonus shall be payable to the Executive in cash to the extent of a maximum of 100% of Executive’s Base Salary. Subject to the Compensation Committee’s determination of the achievement of the performance goals, the annual incentive bonus for a calendar year shall be earned if the Executive’s employment or service continues until December 31 of that year.
