Incentive Bonus Compensation. The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").
Incentive Bonus Compensation. For services rendered by the Employee under this Agreement, the Company, by action of the Board of Directors, shall establish an annual executive incentive bonus plan in which the Employee shall participate in recognition of the Employee's contribution to the overall performance of the Company (“Bonus”). Such Bonus shall be granted within ninety (90) days following the conclusion of each calendar year commencing December 31, 2005, after assessment of the Employee’s and Company’s performance pursuant to the criteria, terms and conditions of the bonus plan. The amount of any Bonus, which the Company may grant to the Employee from time to time shall be in addition to his Base Salary and shall, under no circumstances, be included in the Employee's Base Salary.
Incentive Bonus Compensation. The Compensation Committee has established for the Executive annual opportunities (i.e., the maximum bonus that may be awarded in respect of each fiscal year of the Company) under the Company's Executive Annual Incentive Plan or any subsequent Bonus Plan for executives that is approved by the stockholders of the Company (the "Bonus Plan") equal to $1,300,000 in respect of the First Contract Year, $1,400,000 in respect of the Second Contract Year and $1,500,000 in respect of the Third Contract Year, subject to the terms and conditions of the Bonus Plan, which are incorporated herein by reference.
Incentive Bonus Compensation. In addition to the Base Compensation to which the Employee is entitled under Section 6(a), the Employee shall be eligible to be awarded incentive bonus compensation (the “Bonus Compensation”) with respect to each calendar year or portion thereof during which the Employee was employed by the Company hereunder equal to up to and including 100% of the Employee’s Base Compensation. The criteria for determining the amount of the Bonus Compensation shall be determined by mutual agreement between the Employee and the Chief Executive Officer of the Company and shall by approved by the Compensation Committee of the Board of Directors. Incentive Bonus Compensation shall be paid within 90 days following the end of the calendar year.
Incentive Bonus Compensation. On an annual basis, the Company’s Board of Directors, in its sole discretion, upon the recommendation of the Company’s Chief Executive Officer, shall establish Executive’s annual target incentive and performance metrics. The Executive will receive an incentive bonus based on Executive’s achievement of the performance metrics in accordance with the Company’s Management Incentive Plan that the Company in its discretion may establish. Any such bonuses shall be paid out no later than March 15 following the calendar year in which the Company’s fiscal year to which the bonus relates ends.
Incentive Bonus Compensation. Employee shall be eligible to receive a bonus equal to $500,000 which is equal to one-hundred (100%) percent of the base salary, as set forth in section 3.2. Terms and conditions of payment of this bonus shall be determined by the Compensation Committee, Board of Directors of Employer.
Incentive Bonus Compensation. The Officer shall be eligible to participate in Board-approved incentive or bonus compensation plans.
Incentive Bonus Compensation. During the Term, the Executive shall be eligible to receive a cash bonus payment as determined by the Compensation Committee from time to time in accordance with the Senior Executive Incentive Bonus Plan, or any successor plan adopted by the Compensation Committee. The Executive’s target annual incentive compensation shall be 40 percent of his Base Salary. To earn incentive compensation, the Executive must be employed by the Company on the last day of the performance period; provided, however, that the Executive may be entitled to a pro rated bonus in the event that his employment is terminated by the Company without Cause after completing nine or more months of service in the fiscal year in which such termination occurs, in accordance with the terms of the Senior Executive Incentive Bonus Plan.
Incentive Bonus Compensation. The Compensation Committee has established for the Executive the target bonus payout for the aggregate opportunities that may be awarded in respect of each fiscal year of the Company under the Company’s Executive Annual Incentive Plan or any subsequent Bonus Plan for executives that is approved by the stockholders of the Company (the “Bonus Plan”) in respect of each Contract Year under this Agreement. The target bonus payout for the aggregate opportunities in respect of each Contract Year shall be no less than $2,000,000.00. All such opportunities shall be subject to the terms and conditions of the Bonus Plan, which are incorporated herein by reference; provided, however, that except with respect to bonuses deferred in accordance with Section 3(c) hereof, and as otherwise indicated under Section 6, the bonus payout with respect to any fiscal year shall be paid to Executive no later than the 15th day of the third month following the end of such fiscal year.
Incentive Bonus Compensation. In addition to his Base Compensation, Executive shall be entitled to Incentive Bonus Compensation ("Incentive Bonus Compensation") as determined as follows: Starting from a base of $2,500,000 in sales and an EBITDA of $750,000 and not taking into consideration the adjustment for (1) accounts receivable and (2) officer's salaries. See Schedule Below. Annual Sales EBITDA Compensation ------------ ------ ------------ $2,500,000 $ 750,000 $100,000 4,000,000 1,200,000 150,000 6,000,000 1,800,000 200,000 8,000,000 2,400,000 250,000 10,000,000 3,000,000 300,000 Each Incentive Bonus shall be paid not more than thirty (30) days after a determination that the applicable performance goal has been met. EBITDA means, for any period, the Company's consolidated earnings from continuing operations before interest, taxes, depreciation and amortization for such period. The Executive shall be entitled to such other cash bonuses as determined from time to time at the discretion of the Board of Directors based upon the growth and success of the Corporation. SCHEDULE B STOCK
