Common use of Annual Performance Reviews Clause in Contracts

Annual Performance Reviews. Executive’s job performance shall be reviewed annually by the Board. In conjunction with such annual performance review process, Executive will be eligible for salary increases, cash bonus awards (the bonus target is set forth under Section 5 above) and additional stock option awards, which will be subject to Company policy and vesting terms. Salary increases, cash bonuses and stock option awards will be determined by the Board in its sole discretion based on the overall performance of Opnext as well as Executive’s individual performance. Stock options, salary increases and bonuses are awarded at the discretion of the Board.

Annual Performance Reviews. Executive’s job performance shall be reviewed annually by the Board. In conjunction with such annual performance review process, Executive will be eligible for salary increases, cash bonus awards (the bonus target is set forth under Section 5 above) and additional stock option awards, which will be subject to Company policy and vesting terms. Salary increases, cash bonuses and stock option awards are awarded at the discretion of the Board and will be determined by the Board in its sole discretion based on the overall performance of Opnext as well as Executive’s individual performance. Stock options, salary increases and bonuses are awarded at the discretion of the Board.