Common use of Annual Bonus Plan Clause in Contracts

Annual Bonus Plan. The Employee shall be eligible to receive an annual cash bonus (the "Bonus") which shall be determined by the Board of Directors of the Company ("the Board"). For the Company's 1998 fiscal year, the Employee's Bonus eligibility shall be as follows: (1) 25% of Salary if the Company achieves 85% of 1998 Target EBITDA; or (2) 50% of Salary if the Company achieves 100% of 1998 Target EBITDA; and (3) 2% of Salary for each percentage point by which the Company exceeds 100% of 1998 Target EBITDA, up to 125% of 1998 Target EBITDA or up to an additional 50% of Salary. "1998 Target EBITDA" is the Company's earnings for the year before interest, taxes, depreciation and amortization as set forth in the Company's 1998 business plan approved by the Board. For fiscal years during the Employment Term subsequent to 1998, the relevant performance targets shall be set by the Board in its sole discretion, provided that the Employee's aggregate Bonus potential as a percentage of Salary shall not decrease. That is performance criteria may change and may no longer consist of achievement of Target EBITDA but, even so, the Bonus, as a percent of Salary, realizable in any year for achievement of that year's criteria will not be less than that provided above for achievement of 1998 Target EBITDA.

Annual Bonus Plan. The Employee shall be eligible to receive an annual cash bonus (the "Bonus") which shall be determined by the Board of Directors of the Company ("the Board"). For the Company's 1998 fiscal year, the Employee's Bonus eligibility shall be as follows: (1) 25% of Salary if the Company achieves 85% of 1998 Target EBITDA; or (2) 50% of Salary if the Company achieves 100% of 1998 Target EBITDA; and (3) 2% of Salary for each percentage point by which the Company exceeds 100% of 1998 Target EBITDA, up to 125% of 1998 Target EBITDA or up to an additional 50% of Salary. "1998 Target EBITDA" is the Company's earnings for the year before interest, taxes, depreciation and amortization as set forth in the Company's 1998 business plan approved by the Board. For fiscal years during the Employment Term subsequent to 1998, the relevant performance targets shall be set by the Board in its sole discretion, provided that the Employee's aggregate Bonus potential as a percentage of Salary shall not decrease. That is performance criteria may change and may no longer consist of achievement of Target EBITDA but, even so, the Bonus, Bonus as a percent of Salary, Salary realizable in any year for achievement of that year's criteria will not be less than that provided above for achievement of 1998 Target EBITDA.

Annual Bonus Plan. The Employee shall be eligible to receive an annual cash bonus (the "Bonus") which shall be determined by the Board of Directors of the Company ("the Board"). For the Company's 1998 fiscal year, the Employee's Bonus eligibility shall be as follows: (1) 25% of Salary if the Company achieves 85% of 1998 Target EBITDA; or (2) 50% of Salary if the Company achieves 100% of 1998 Target EBITDA; and (3) 2% of Salary for each percentage point by which the Company exceeds 100% of 1998 Target EBITDA, up to 125% of 1998 Target EBITDA or up to an additional 50% of Salary. "1998 Target EBITDA" is the Company's earnings for the year before interest, taxes, depreciation and amortization as set forth in the Company's 1998 business plan approved by the Board. For fiscal years during the Employment Term subsequent to 1998, the relevant performance targets shall be set by the Board in its sole discretion, provided that the Employee's aggregate Bonus potential as a percentage of Salary shall not decrease. That is is, performance criteria may change and may no longer consist of achievement of Target EBITDA but, even so, the Bonus, as a percent of Salarysalary, realizable in any year for achievement of that year's criteria will not be less than that provided above for achievement of 1998 Target EBITDA.