Executive Bonus Program. Executive shall be eligible for and a full participant in an executive and/or personal bonus program that will reward him for successfully closing an IPO, increasing shareholder value through increases in the stock price, and successfully closing strategic acquisitions or other major accomplishments within his full or partial control as Chief Financial Officer of the Employer. In the event no such plan is adopted, approved or implemented by the Board of Directors or the Compensation Committee thereof, Executive shall receive an annual cash bonus, which shall not exceed one hundred percent (100%) of his base salary for such period. The bonus shall be determined in accordance with the following formula, which shall be calculated no later than March 31 of the year following the year for which the bonus is to be calculated: 2000: 2.5% of any net revenues in excess of 1999 net revenues.
Appears in 2 contracts
Sources: Employment Agreement (Oz Com), Employment Agreement (Oz Com)