Document ID: 10793

Text:
(b) Annual Bonus. For each calendar year ending during the Term (beginning with the calendar year ending December 31, 2017 ), the Employee shall be eligible to receive an annual bonus (the Annual Bonus) with a target amount equal to thirty five percent ( 35% ) of the Base Salary earned by the Employee for such calendar year (the Target Annual Bonus). Notwithstanding the foregoing, for calendar year 2017, the Employee will be eligible to receive an Annual Bonus, pro-rated for the period between the Start Date and December 31, 2017 . The actual amount of each Annual Bonus will be based upon the level of achievement of the Companys corporate objectives and the Employees individual objectives, in each case, as established by the Board or the Compensation Committee (taking into account the input of the CEO with respect to the establishment of the Employees individual objectives) for the calendar year with respect to which such Annual Bonus relates. The determination of the level of achievement of the corporate objectives and the Employees individual performance objectives for a year shall be made by the Board or the Compensation Committee (taking into account the input of the CEO with respect to the establishment of the Employees individual objectives), in its reasonable discretion. Each Annual Bonus for a calendar year, to the extent earned, will be paid in a lump sum in the following calendar year, within the first 75 days of such following year. The Annual Bonus shall not be deemed earned until the date that it is paid. Accordingly, in order for the Employee to receive an Annual Bonus, the Employee must be actively employed by the Company at the time of such payment.

Named Entities:
21
24
TerminationDate
52
53
Percentage
155
155
Role
218
218
Role

Tokenized Text:
(
b
)
Annual
Bonus
.
For
each
calendar
year
ending
during
the
Term
(
beginning
with
the
calendar
year
ending
December
31
,
2017
)
,
the
Employee
shall
be
eligible
to
receive
an
annual
bonus
(
the
Annual
Bonus
)
with
a
target
amount
equal
to
thirty
five
percent
(
35
%
)
of
the
Base
Salary
earned
by
the
Employee
for
such
calendar
year
(
the
Target
Annual
Bonus
)
.
Notwithstanding
the
foregoing
,
for
calendar
year
2017
,
the
Employee
will
be
eligible
to
receive
an
Annual
Bonus
,
pro-rated
for
the
period
between
the
Start
Date
and
December
31
,
2017
.
The
actual
amount
of
each
Annual
Bonus
will
be
based
upon
the
level
of
achievement
of
the
Companys
corporate
objectives
and
the
Employees
individual
objectives
,
in
each
case
,
as
established
by
the
Board
or
the
Compensation
Committee
(
taking
into
account
the
input
of
the
CEO
with
respect
to
the
establishment
of
the
Employees
individual
objectives
)
for
the
calendar
year
with
respect
to
which
such
Annual
Bonus
relates
.
The
determination
of
the
level
of
achievement
of
the
corporate
objectives
and
the
Employees
individual
performance
objectives
for
a
year
shall
be
made
by
the
Board
or
the
Compensation
Committee
(
taking
into
account
the
input
of
the
CEO
with
respect
to
the
establishment
of
the
Employees
individual
objectives
)
,
in
its
reasonable
discretion
.
Each
Annual
Bonus
for
a
calendar
year
,
to
the
extent
earned
,
will
be
paid
in
a
lump
sum
in
the
following
calendar
year
,
within
the
first
75
days
of
such
following
year
.
The
Annual
Bonus
shall
not
be
deemed
earned
until
the
date
that
it
is
paid
.
Accordingly
,
in
order
for
the
Employee
to
receive
an
Annual
Bonus
,
the
Employee
must
be
actively
employed
by
the
Company
at
the
time
of
such
payment
.