Performance-Based Cash Bonus

Performance-Based Cash Bonus. Shall mean a bonus that may be achieved by the satisfaction of operating objectives specified by the Board and the Chief Executive Officer of the Company (to the extent the same shall be delegated by the Board) from time-to-time in their sole discretion. The Performance-Based Cash Bonus may consist of multiple components, including components based upon the performance (1) of the Company as a whole, (2) of the Executive and employees under the direction of the Executive, and/or (3) of a subset... of the Company which may include the Executive (and employees under the direction of the Executive) and employees who are not under the direction of the Executive but which components are not Company-wide objectives. The Performance-Based Cash Bonus currently is an annual program and the maximum amount payable thereunder does not exceed thirty percent (30%) of the Executive's Base Salary and consists solely of objectives determined on an annual basis, either of which may change from time to time. View More