Common use of Bonus Pool Clause in Contracts

Bonus Pool. 4.1 For each of the fiscal years of the Company, provided that the EBITDA Target (as hereinafter defined) for such fiscal year shall have been attained, the Company shall establish a bonus pool in an amount equal to a percentage of EBITDA (as hereinafter defined) for such fiscal year as determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company (the "Bonus Pool"); provided, however, that the Bonus Pool for any fiscal year shall not exceed that amount which, when deducted from EBITDA, would result in EBITDA for such fiscal year net of the Bonus Pool of less than $5,500,000. 4.2 Notwithstanding the foregoing, in the event that the EBITDA Target is not achieved in any fiscal year, 18 but EBITDA (calculated as otherwise provided herein) for such fiscal year and for the subsequent fiscal year equals or exceeds $11,000,000, then the Company shall establish a bonus pool in an amount equal to a percentage to be determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company of combined EBITDA for such two fiscal years, which percentage of the combined EBITDA shall for purposes hereof constitute the Bonus Pool for such two fiscal years; provided, however, that the Bonus Pool for such two fiscal years shall not exceed that amount which, when deducted from the combined EBITDA, would result in the combined EBITDA for such two fiscal years net of the Bonus Pool of less than $11,000,000. 4.3 As used herein: (i) EBITDA shall have the meaning set forth in the Agreement of Purchase and Sale dated as of September 3, 1997 (the "Agreement"), by and among the Company and the other parties thereto (which parties include certain of the Participants) for the appropriate fiscal year, without reduction for the Bonus Pool for such fiscal year contemplated by this Bonus Plan or for any expense attributable to the Bonus Options; and (ii) EBITDA Target shall mean, for each fiscal year, achievement of EBITDA of not less than $5,500,000. In the event of any change in the fiscal year of the Company, appropriate adjustments shall be made to the EBITDA Target in order to carry out the intent and principles of the Bonus Plan.

Bonus Pool. 4.1 For each of the fiscal years of the Company, provided that the EBITDA Target (as hereinafter defined) for such fiscal year shall have been attained, the Company shall establish a bonus pool in an amount equal to a percentage of EBITDA (as hereinafter defined) for such fiscal year as determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company (the "Bonus Pool"); provided, however, that the Bonus Pool for any fiscal year shall not exceed that amount which, when deducted from EBITDA, would result in EBITDA for such fiscal year net of the Bonus Pool of less than $5,500,000. 4.2 Notwithstanding the foregoing, in the event that the EBITDA Target is not achieved in any fiscal year, 18 20 but EBITDA (calculated as otherwise provided herein) for such fiscal year and for the subsequent fiscal year equals or exceeds $11,000,000, then the Company shall establish a bonus pool in an amount equal to a percentage to be determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company of combined EBITDA for such two fiscal years, which percentage of the combined EBITDA shall for purposes hereof constitute the Bonus Pool for such two fiscal years; provided, however, that the Bonus Pool for such two fiscal years shall not exceed that amount which, when deducted from the combined EBITDA, would result in the combined EBITDA for such two fiscal years net of the Bonus Pool of less than $11,000,000. 4.3 As used herein: (i) EBITDA shall have the meaning set forth in the Agreement of Purchase and Sale dated as of September 3, 1997 (the "Agreement"), by and among the Company and the other parties thereto (which parties include certain of the Participants) for the appropriate fiscal year, without reduction for the Bonus Pool for such fiscal year contemplated by this Bonus Plan or for any expense attributable to the Bonus Options; and (ii) EBITDA Target shall mean, for each fiscal year, achievement of EBITDA of not less than $5,500,000. In the event of any change in the fiscal year of the Company, appropriate adjustments shall be made to the EBITDA Target in order to carry out the intent and principles of the Bonus Plan.

Bonus Pool. 4.1 For each Beginning with the fourth fiscal quarter of the fiscal years of the Company, provided that the EBITDA Target (as hereinafter defined) for such 1995 fiscal year shall have been attainedand during the term of this Agreement, the Company shall agrees to establish and fund a bonus pool in an amount equal to a percentage of EBITDA (as hereinafter defined) for such fiscal year as determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company (the "Bonus Pool")) for the key employees of the Company. The Company shall contribute five and one-half percent (5 1/2%) of its Net Profits (as defined below) earned during each fiscal quarter of each fiscal year to the Bonus Pool. The Employee shall receive thirty-six and 36/100 percent (36.36%) of the amount contributed by the Company to the Bonus Pool as his incentive bonus payment (the "Incentive Bonus Payment") and such Incentive Bonus Payment shall be calculated and distributed, subject to applicable withholding taxes, to the Employee as follows: (1) within thirty (30) days following the end of the first fiscal quarter of each fiscal year, the Company shall calculate, based on its Net Profits for such quarter, the amount of the Company's contribution to the Bonus Pool and shall pay to the Employee eighty percent (80%) of the Employee's Incentive Bonus Payment for such quarter; (2) within thirty (30) days following the end of the second fiscal quarter of each fiscal year, the Company shall calculate, based on its Net Profits for such quarter, the amount of the Company's contribution to the Bonus Pool and shall pay to the Employee eighty percent (80%) of the Employee's Incentive Bonus Payment for such quarter; provided, however, that the Employee's Incentive Bonus Pool Payment for any fiscal year such quarter shall not exceed the amount, if any, that amount which, when deducted from EBITDA, would result in EBITDA (x) the Employee's Incentive Bonus Payment as calculated on the basis of the fiscal year-to-date Net Profits for such fiscal year net exceeds (y) the sum of all prior Incentive Bonus Payments made to the Employee during such fiscal year; (3) within thirty (30) days following the end of the Bonus Pool third fiscal quarter of less than $5,500,000. 4.2 Notwithstanding the foregoing, in the event that the EBITDA Target is not achieved in any each fiscal year, 18 but EBITDA (calculated as otherwise provided herein) for such fiscal year and for the subsequent fiscal year equals or exceeds $11,000,000, then the Company shall establish a bonus pool in an amount equal to a percentage to be determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company of combined EBITDA calculate, based on its Net Profits for such two fiscal years, which percentage Bonus Pool and shall pay to the Employee eighty percent (80%) of the combined EBITDA shall for purposes hereof constitute the Employee's Incentive Bonus Pool Payment for such two fiscal yearsquarter; provided, however, that the Employee's Incentive Bonus Pool Payment for such two fiscal years quarter shall not exceed the amount, if any, that amount which, when deducted from (x) the combined EBITDA, would result in Employee's Incentive Bonus Payment as calculated on the combined EBITDA basis of the fiscal year-to-date Net Profits for such two fiscal years net year exceeds (y) the sum of all prior Incentive Bonus Payments made to the Employee during such fiscal year; and (4) within thirty (30) days following the receipt by the Company of the Bonus Pool of less than $11,000,000. 4.3 As used herein: (i) EBITDA shall have the meaning set forth in the Agreement of Purchase and Sale dated as of September 3, 1997 (the "Agreement"), by and among the Company and the other parties thereto (which parties include certain of the Participants) Company's audited financial statements for the appropriate each fiscal year, without reduction the Company shall calculate, based on its Net Profits for such fiscal year, the amount of the Company's contribution to the Bonus Pool for such fiscal year contemplated by this Bonus Plan or for any expense attributable and shall pay to the Employee one hundred percent (100%) of the amount, if any, that (x) the Employee's Incentive Bonus Options; and Payment as calculated on the basis of the fiscal year net Profits for such fiscal year exceeds (iiy) EBITDA Target shall meanthe sum of all prior Incentive Bonus Payments made to the Employee during such fiscal year. Notwithstanding the foregoing, for each the fourth fiscal quarter of the 1995 fiscal year, achievement the Employee shall receive one hundred percent (100%) of EBITDA of not less than $5,500,000. In the event of any change in the fiscal year of his Incentive Bonus Payment based on the Company, appropriate adjustments shall be made to the EBITDA Target in order to carry out the intent and principles of the 's Bonus PlanPool contribution for such fiscal quarter.

Bonus Pool. 4.1 For each of the fiscal years of the Company, provided that the EBITDA Target (as hereinafter defined) for such fiscal year shall have been attained, the Company shall establish a bonus pool in an amount equal to a percentage of EBITDA (as hereinafter defined) for such fiscal year as determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company (the "Bonus Pool"); provided, however, that the Bonus Pool for any fiscal year shall not exceed that amount which, when deducted from EBITDA, would result in EBITDA for such fiscal year net of the Bonus Pool of less than $5,500,000. 4.2 Notwithstanding the foregoing, in the event that the EBITDA Target is not achieved in any fiscal year, 18 16 but EBITDA (calculated as otherwise provided herein) for such fiscal year and for the subsequent fiscal year equals or exceeds $11,000,000, then the Company shall establish a bonus pool in an amount equal to a percentage to be determined by the Board in consultation with Stua▇▇ ▇▇▇▇▇▇▇ ▇▇▇ Howa▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇ so long as they are employed by the Company of combined EBITDA for such two fiscal years, which percentage of the combined EBITDA shall for purposes hereof constitute the Bonus Pool for such two fiscal years; provided, however, that the Bonus Pool for such two fiscal years shall not exceed that amount which, when deducted from the combined EBITDA, would result in the combined EBITDA for such two fiscal years net of the Bonus Pool of less than $11,000,000. 4.3 As used herein: (i) EBITDA shall have the meaning set forth in the Agreement of Purchase and Sale dated as of September 3, 1997 (the "Agreement"), by and among the Company and the other parties thereto (which parties include certain of the Participants) for the appropriate fiscal year, without reduction for the Bonus Pool for such fiscal year contemplated by this Bonus Plan or for any expense attributable to the Bonus Options; and (ii) EBITDA Target shall mean, for each fiscal year, achievement of EBITDA of not less than $5,500,000. In the event of any change in the fiscal year of the Company, appropriate adjustments shall be made to the EBITDA Target in order to carry out the intent and principles of the Bonus Plan.