Common use of Net Profit Bonus Clause in Contracts

Net Profit Bonus. The Company shall pay Executive an annual bonus ("Net Profit Bonus"). The Net Profit Bonus shall equal two percent (2%) of the Company's annual net income, calculated using Generally Accepted Accounting Principles. The Net Profit Bonus shall be payable annually no later than the fifteenth (15th) day of the third month following the end of the Company's fiscal year in cash and/or the equivalent cash amount in fully vested stock options at the fair market price of the Company's stock on the last day of the Company's calendar year, at the sole discretion of Executive.

Net Profit Bonus. The Company shall pay Executive an annual bonus ("Net Profit Bonus"). The Net Profit Bonus shall equal two one and one-quarter percent (21.25%) of the Company's annual net income, calculated using Generally Accepted Accounting Principles. The Net Profit Bonus shall be payable annually no later than the fifteenth (15th) day of the third month following the end of the Company's fiscal year in cash and/or the equivalent cash amount in fully vested stock options at the fair market price of the Company's stock on the last day of the Company's calendar fiscal year, at the sole discretion of Executive.