Common use of Management Incentive Bonus Clause in Contracts

Management Incentive Bonus. Beginning with calendar year 2005, Executive will be eligible to participate in the Company’s management incentive bonus plan pursuant to which the Company pays performance bonus compensation to its executives and employees based on personal and Company performance ratings for the applicable year, each as established by the Board or its Compensation Committee. Depending on his and the Company’s performance, Executive will be eligible to receive a bonus of up to 30% of base salary for the Company’s calendar year 2005.

Management Incentive Bonus. Beginning with calendar year 2005, Executive will be eligible to participate in the Company’s management incentive bonus plan pursuant to which the Company pays performance bonus compensation to its executives and employees based on personal and Company performance ratings for the applicable year, each as established by the Board or its Compensation Committee. Depending on his and the Company’s performance, Executive will be eligible to receive a bonus of up to 30% of base salary $75,000 for the Company’s calendar year 2005, on a pro-rated basis based on the number of days served during the year.

Management Incentive Bonus. Beginning with calendar year 20052003, Executive will be eligible to participate in the Company’s management incentive bonus plan pursuant to which the Company pays performance bonus compensation to its executives and employees based on personal and Company performance ratings for the applicable year, each as established by the Board or its Compensation Committee. Depending on his and the Company’s performance, Executive will be eligible to receive a bonus of up to 30% of base salary $100,000 for the Company’s calendar year 20052003.

Management Incentive Bonus. Beginning with calendar year 2005, The Executive will be eligible to participate in the Company’s management for an annual incentive bonus plan pursuant to which with a target award of fifty percent of the Executive’s annual base earnings. The Executive’s bonus will be determined using financial and individual performance objectives mutually agreed upon by the Chairman and the Executive. For the 2005 year, the Executive will receive a guaranteed minimum bonus of $150,000 providing he is actively employed by the Company pays performance bonus compensation to its executives and employees based on personal and Company performance ratings for at the applicable year, each as established by time bonuses are paid in 2006 at the Board or its Compensation Committee. Depending on his and conclusion of the Company’s performance, Executive will be eligible to receive a bonus of up to 30% of base salary for the Company’s calendar year 2005annual audit.