Common use of Executive Bonus Plan Clause in Contracts

Executive Bonus Plan. Without limiting the provisions of Section 8.12 above, on the Closing Date, the Buyer shall cause the Company to establish a bonus plan in the form attached hereto as Exhibit C (the "Bonus Plan"), to incentivize the senior executives of the Company named therein to increase sales revenue derived from the Company's and the Buyer's engineering and manufacturing businesses. The Company, the Buyer and the Shareholders each hereby acknowledge that (i) any payments made under the Bonus Plan to the senior executives of the Company are in consideration for services rendered by such senior executives, and/or are incentives for continued employment by such senior executives with the Company and (ii) in no event shall any such payments have any correlation or relation to the number of Shares being sold to the Buyer by any of such senior executives, or the transactions contemplated in this Agreement.