Common use of Performance Based Bonus Plan Clause in Contracts

Performance Based Bonus Plan. Except in the case of a termination of this Agreement pursuant to Section 5(a) or 5(c), for a period of five years following the consummation of the transactions contemplated in the Merger Agreement, the Employee, along with the Company's Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer (collectively, the "Senior Executive Officers"), shall participate in a performance based bonus plan (the "Performance Bonus Plan") in which each of the Senior Executive Officers will receive an aggregate of 25% of the excess EBIT (after Incentive Bonus Plan bonuses are awarded) for each fiscal year above EBIT projected for such year in the Goldxxx, Xxchx & Xo. Confidential Memorandum dated December 1996 (the "Goldxxx, Xxchs Memorandum") or another mutually agreed-upon alternative profit target. The maximum aggregate amount that the Senior Executive Officers shall be entitled to receive under the term of the Performance Bonus Plan shall be $750,000. The Board shall develop and approve the Performance Bonus Plan no later than June 30, 1997.

Performance Based Bonus Plan. Except in the case of a termination of this Agreement pursuant to Section 5(a) or 5(c), for a period of five years following the consummation of the transactions contemplated in the Merger Agreement, the Employee, along with the Company's Chief Executive Operating Officer, Chief Operating Financial Officer, and Chief Financial Officer Vice President for Marketing (collectively, the "Senior Executive Officers"), shall participate in a performance based bonus plan (the "Performance Bonus Plan") in which each of the Senior Executive Officers will receive an aggregate of 25% of the excess EBIT (after Incentive Bonus Plan bonuses are awarded) for each fiscal year above EBIT projected for such year in the Goldxxx, Xxchx & Xo. Confidential Memorandum dated December 1996 (the "Goldxxx, Xxchs Memorandum") or another mutually agreed-upon alternative profit target. The maximum aggregate amount that the Senior Executive Officers shall be entitled to receive under the term of the Performance Bonus Plan shall be $750,000. The Board shall develop and approve the Performance Bonus Plan no later than June 30, 1997.

Performance Based Bonus Plan. Except in the case of a termination of this Agreement pursuant to Section 5(a) or 5(c), for a period of five years following the consummation of the transactions contemplated in the Merger Agreement, the Employee, along with the Company's Chief Executive Officer, Chief Operating Officer, and Chief Financial Officer Vice President for Marketing (collectively, the "Senior Executive Officers"), shall participate in a performance based bonus plan (the "Performance Bonus Plan") in which each of the Senior Executive Officers will receive an aggregate of 25% of the excess EBIT (after Incentive Bonus Plan bonuses are awarded) for each fiscal year above EBIT projected for such year in the Goldxxx, Xxchx & Xo. Confidential Memorandum dated December 1996 (the "Goldxxx, Xxchs Memorandum") or another mutually agreed-upon alternative profit target. The maximum aggregate amount that the Senior Executive Officers shall be entitled to receive under the term of the Performance Bonus Plan shall be $750,000. The Board shall develop and approve the Performance Bonus Plan no later than June 30, 1997.

Performance Based Bonus Plan. Except in the case of a termination of this Agreement pursuant to Section 5(a) or 5(c), for a period of five years following the consummation of the transactions contemplated in the Merger Agreement, the Employee, along with the Company's Chief Executive Officer, Chief Operating Financial Officer, and Chief Financial Officer Vice President for Marketing (collectively, the "Senior Executive Officers"), shall participate in a performance based bonus plan (the "Performance Bonus Plan") in which each of the Senior Executive Officers will receive an aggregate of 25% of the excess EBIT (after Incentive Bonus Plan bonuses are awarded) for each fiscal year above EBIT projected for such year in the Goldxxx, Xxchx & Xo. Confidential Memorandum dated December 1996 (the "Goldxxx, Xxchs Memorandum") or another mutually agreed-upon alternative profit target. The maximum aggregate amount that the Senior Executive Officers shall be entitled to receive under the term of the Performance Bonus Plan shall be $750,000. The Board shall develop and approve the Performance Bonus Plan no later than June 30, 1997.