Incentive Bonus Compensation. In addition to his Base Compensation, Executive shall be entitled to Incentive Bonus Compensation ("Incentive Bonus Compensation") as determined as follows: Starting from a base of $2,500,000 in sales and an EBITDA of $750,000 and not taking into consideration the adjustment for (1) accounts receivable and (2) officer's salaries. See Schedule Below. Annual Sales EBITDA Compensation ------------ ------ ------------ $2,500,000 $ 750,000 $100,000 4,000,000 1,200,000 150,000 6,000,000 1,800,000 200,000 8,000,000 2,400,000 250,000 10,000,000 3,000,000 300,000 Each Incentive Bonus shall be paid not more than thirty (30) days after a determination that the applicable performance goal has been met. EBITDA means, for any period, the Company's consolidated earnings from continuing operations before interest, taxes, depreciation and amortization for such period. The Executive shall be entitled to such other cash bonuses as determined from time to time at the discretion of the Board of Directors based upon the growth and success of the Corporation. SCHEDULE B STOCK
Appears in 2 contracts
Samples: Employment Agreement (Certified Diabetic Services Inc), Employment Agreement (Certified Diabetic Services Inc)
Incentive Bonus Compensation. In addition to his Base Compensation, Executive shall be entitled to Incentive Bonus Compensation ("Incentive Bonus Compensation") as determined as follows: Starting from a base of $2,500,000 in sales and an EBITDA of $750,000 and not taking into consideration the adjustment for (1) accounts receivable and (2) officer's salaries. See Schedule Below. Annual Sales EBITDA Compensation ------------ ------ ------------ $$ 2,500,000 $ 750,000 $100,000 4,000,000 1,200,000 150,000 6,000,000 1,800,000 200,000 8,000,000 2,400,000 250,000 10,000,000 3,000,000 300,000 Each Incentive Bonus shall be paid not more than thirty (30) days after a determination that the applicable performance goal has been met. EBITDA means, for any period, the Company's consolidated earnings from continuing operations before interest, taxes, depreciation and amortization for such period. The Executive shall be entitled to such other cash bonuses as determined from time to time at the discretion of the Board of Directors based upon the growth and success of the Corporation. SCHEDULE B STOCKNONE
Appears in 1 contract
Samples: Employment Agreement (Certified Diabetic Services Inc)
Incentive Bonus Compensation. In addition to his Base Compensation, Executive shall be entitled to Incentive Bonus Compensation ("Incentive Bonus Compensation") as determined as follows: Starting from a base of $2,500,000 in sales and an EBITDA of $750,000 and not taking into consideration the adjustment for (1) accounts receivable and (2) officer's salaries. See Schedule Below. Annual Sales EBITDA Compensation ------------ ------ --------- ------------ $2,500,000 $ $750,000 $100,000 150,000 4,000,000 1,200,000 150,000 250,000 6,000,000 1,800,000 200,000 300,000 8,000,000 2,400,000 250,000 400,000 10,000,000 3,000,000 300,000 500,000 Each Incentive Bonus shall be paid not more than thirty (30) days after a determination that the applicable performance goal has been met. EBITDA means, for any period, the Company's consolidated earnings from continuing operations before interest, taxes, depreciation and amortization for such period. The Executive shall be entitled to such other cash bonuses as determined from time to time at the discretion of the Board of Directors based upon the growth and success of the Corporation. SCHEDULE B STOCKNONE
Appears in 1 contract
Samples: Employment Agreement (Certified Diabetic Services Inc)