BONUS THRESHOLD Sample Clauses

BONUS THRESHOLD. No bonus shall be payable until the completion of the first fiscal year in which the "Cumulative Net Profit" as herein defined of PRM exceeds $1,000,000. No bonus shall be payable with respect to any fiscal year after the fiscal year ending June 30, 2001.

BONUS THRESHOLD. Notwithstanding subparagraph (a) above, the Executive shall not be entitled to an Annual Bonus for any fiscal year of the Company (i) unless and until the Operating Profit of the Company for such fiscal year exceeds the amount set forth below under the heading "Operating Profit Threshold" with respect to such fiscal year, (ii) with respect to any Operating Profit other than that portion of such Operating Profit in excess of the Operating Profit Threshold for such fiscal year set forth below and (iii) unless the sum of the cumulative Operating Profits from April 1, 1993 through the end of such fiscal year exceeds the sum of the Operating Profit Thresholds set forth below for such period; provided, however, that the amount of the Operating Profit Threshold for the fiscal years ending March 31, 1994, 1995 and 1996 shall be reduced in each case by the ▇▇▇▇▇▇ Profit (as hereinafter defined) earned in that fiscal year, provided further that the foregoing reduction shall not exceed $1,000,000 for the fiscal year ending in 1994, $1,350,000 for the fiscal year ending in 1995 and $1,500,000 for the fiscal year ending in 1996; provided further, however, that the Operating Profit Threshold for the fiscal year ending March 31, 1996 shall be reduced by $200,000 in the event that the Company and its Affiliates (as hereinafter defined) receive revenues in the fiscal years ending in 1994 and 1995 equal in the aggregate to at least $3,000,000 from (i) spot buying computed at rates of 3.5% and network buying computed at rates of 1.5% done by the Company through the Company and its Affiliates and (ii) from any other advertising services obtained by the Company from the Company and its Affiliates at a charge of 2.85 times the salary and benefit costs of the employees providing such services: Fiscal Year Ending March 31, Operating Profit Threshold ---------------------------- -------------------------- 1994 $1,600,000 1995 $2,550,000 1996 $2,700,000 1997 $ 400,000 1998 $ 400,000 1999 $ 400,000 2000 $ 400,000 2001 $ 400,000 2002 (through June 30, 2002) $ 400,000