Common use of 2021 Financial Performance Bonus Clause in Contracts

2021 Financial Performance Bonus. Upon the Company achieving $13.5 million in Gross Revenue, and achieving Cost of Revenue of less than or equal to 50%, during calendar year 2021, Executive shall receive a bonus payout in an amount of $21,000 (the “2021 Financial Performance Bonus”). If earned, Executive shall be paid the 2021 Financial Performance Bonus, in a lump sum, less required taxes and deductions, on or before March 15, 2022. For purposes of calculating the 2021 Financial Performance Bonus, the terms “Gross Revenue” and “Cost of Revenue” shall have the meanings ascribed to such terms by generally accepted accounting principles (“GAAP”) in the United States. The purpose of providing Executive with such Special Incentives is to encourage Executive’s continued employment at the Company as a productive employee. Accordingly, and except as otherwise provided herein, any payout of any Special Incentive described herein is contingent on Executive being an employee at the time Executive’s right to such Special Incentive has vested, and the Executive shall not be eligible for a Special Incentive if the Executive’s employment terminates for any reason, before the Special Incentive has vested. .

2021 Financial Performance Bonus. Upon the Company achieving $13.5 million in Gross Revenue, and achieving Cost of Revenue of less than or equal to 50%, during calendar year 2021, Executive shall receive a bonus payout in an amount of $21,000 35,000 (the “2021 Financial Performance Bonus”). If earned, Executive shall be paid the 2021 Financial Performance Bonus, in a lump sum, less required taxes and deductions, on or before March 15, 2022. For purposes of calculating the 2021 Financial Performance Bonus, the terms “Gross Revenue” and “Cost of Revenue” shall have the meanings ascribed to such terms by generally accepted accounting principles (“GAAP”) in the United States. The purpose of providing Executive with such Special Incentives is to encourage Executive’s continued employment at the Company as a productive employee. Accordingly, and except as otherwise provided herein, any payout of any Special Incentive described herein is contingent on Executive being an employee at the time Executive’s right to such Special Incentive has vested, and the Executive shall not be eligible for a Special Incentive if the Executive’s employment terminates for any reason, before the Special Incentive has vested. .iSpecimen Inc. Executive Employment Agreement – C. Xxxxxxx

2021 Financial Performance Bonus. Upon the Company achieving $13.5 million in Gross Revenue, and achieving Cost of Revenue of less than or equal to 50%, during calendar year 2021, Executive shall receive a bonus payout in an amount of $21,000 28,437.50 (the “2021 Financial Performance Bonus”). If earned, Executive shall be paid the 2021 Financial Performance Bonus, in a lump sum, less required taxes and deductions, on or before March 15, 2022. For purposes of calculating the 2021 Financial Performance Bonus, the terms “Gross Revenue” and “Cost of Revenue” shall have the meanings ascribed to such terms by generally accepted accounting principles (“GAAP”) in the United States. The purpose of providing Executive with such Special Incentives is to encourage Executive’s continued employment at the Company as a productive employee. Accordingly, and except as otherwise provided herein, any payout of any Special Incentive described herein is contingent on Executive being an employee at the time Executive’s right to such Special Incentive has vested, and the Executive shall not be eligible for a Special Incentive if the Executive’s employment terminates for any reason, before the Special Incentive has vested. .