Common use of ANNUAL COMPANY BONUS Clause in Contracts

ANNUAL COMPANY BONUS. Subject to paragraph (F) below, for each calendar year commencing with the year ending December 31, 1998, during which the Employee is employed by the Company: (A) if Kellxxxxx xxx Net Income (as hereinafter defined) for such year of an amount equal to Kellxxxxx'x xxxget net income as determined in the sole discretion of the Board of Directors of Kellxxxxx (xx the Executive Committee) for such year (the "TARGET"), the Employee shall be entitled to a bonus in the amount equal to $100,000. (B) if Kellxxxxx xxx Net Income for such year more than the Target and less than 150% of the Target, the Employee shall be entitled to a bonus as calculated below: B = $100,000 + [$100,000 x (NI - T)] ---------- T 3 where: B = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of Kellxxxxx xxx such year as determined in accordance with GAAP. (C) if Kellxxxxx xxx Net Income for such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $150,000. (D) if Kellxxxxx xxx Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if Kellxxxxx xxx Net Income for such year of at least 50% of the Target but less than the Target, the Employee shall be entitled to a bonus as calculated below: B = $100,000 - [$100,000 x 2 X (T - NI)] -------------- T where: B = the bonus earned in such year. T = the Target for such year. NI= the actual Net Income of Kellxxxxx xxx such year as determined in accordance with GAAP. (F) for any calendar year regarding which the Employee is entitled to a Bonus under the foregoing provisions of this clause (ii) but during which year the Employee did not work the entire calendar year, the Employee shall be entitled to a Bonus equal to the product of the Bonus, as calculated under the foregoing provisions, multiplied by a fraction, the numerator of which is the number of months during such calendar year that the Employee was employed with the Company and the denominator of which is twelve.

ANNUAL COMPANY BONUS. Subject to paragraph (F) below, for For each calendar year commencing with the year ending December 31, 19981999, during at the end of which year the Employee is employed by the Company: (A) if Kellxxxxx xxx the Company has Net Income (as hereinafter defined) for such year of in an amount equal to Kellxxxxx'x xxxget the Company's target net income as determined in the sole discretion discre tion of the Board of Directors of Kellxxxxx (xx or the Executive Committee) for such year (the "TARGETTarget"), the Employee shall be entitled to a bonus in the an amount equal to $100,000.the Salary of the Employee as of December 31 of such year (the "Target Bonus"); (B) if Kellxxxxx xxx the Company has Net Income (as hereinafter defined) for such year more than in an amount which exceeds the Target and but is less than 150% of the TargetTarget for such year, the Employee shall be entitled to a bonus calculated as calculated belowfollows: B = $100,000 Target Bonus + [$100,000 Target Bonus x (NI - T)] ---------- T 3 where: B = the bonus earned in such year. year T = the Target for such year. year NI = the actual Net Income of Kellxxxxx xxx the Company for such year as determined in accordance with GAAP.; (C) if Kellxxxxx xxx the Company has Net Income for such year of in an amount which equals or exceeds 150% of the Target or morefor such year, the Employee shall be entitled to a bonus of $150,000.150% of the Target Bonus; (D) if Kellxxxxx xxx the Company has Net Income for such year of in an amount which is less than 50% of the TargetTarget for such year, the Employee shall not be entitled to a bonus.; (E) if Kellxxxxx xxx the Company has Net Income for such year of at least in an amount which equals or exceeds 50% of the Target for such year but is less than the TargetTarget for such year, the Employee shall be entitled to a bonus calculated as calculated belowfollows: B = $100,000 Target Bonus - [$100,000 Target Bonus x 2 X (T - NI)] -------------- ------------ T where: B = the bonus earned in such year. year T = the Target for such year. NI= year NI = the actual Net Income of Kellxxxxx xxx the Company for such year as determined in accordance with GAAP. (F) for any calendar year regarding which the Employee is entitled to a Bonus under the foregoing provisions of this clause (ii) but during which year the Employee did not work the entire calendar year, the Employee shall be entitled to a Bonus equal to the product of the Bonus, as calculated under the foregoing provisions, multiplied by a fraction, the numerator of which is the number of months during such calendar year that the Employee was employed with the Company and the denominator of which is twelve.;

ANNUAL COMPANY BONUS. Subject to paragraph (F) below, for each calendar year commencing with the year ending December 31, 1998, during which the Employee is employed by the Company: (A) if Kellxxxxx xxx Net Income (as hereinafter defined) for such year of an amount equal to Kellxxxxx'x xxxget net income as determined in the sole discretion of the Board of Directors THE BOARD OF DIRECTORS of Kellxxxxx (xx the Executive Committee) for such year year, which target shall be no higher than the target established for Kellxxxxx'x xxxer officers (the "TARGETTarget"), the Employee shall be entitled to a bonus in the amount equal to $100,000. (B) if Kellxxxxx xxx Net Income for such year more than the Target and less than 150% of the Target, the Employee shall be entitled to a bonus as calculated below: B = $100,000 + [($100,000 x (NI - NI-T)] ---------- ----- T 3 where: B 13 = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of Kellxxxxx xxx such year as determined in accordance with GAAP. (C) if Kellxxxxx Kelsxxxx xxx Net Income for such -such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $150,000. (D) if Kellxxxxx xxx Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if Kellxxxxx xxx Net Income for such year of at least 50% of the Target but less than the Target, the Employee shall be entitled to a bonus as calculated below: B = $100,000 - [$100,000 x 2 X (T - NIx(T-N1)] -------------- ----- T where: B = the bonus earned in such year. T = the Target for such year. NI= NI = the actual Net Income of Kellxxxxx xxx such year as determined in accordance with GAAP. (F) for any calendar year regarding which the Employee is entitled to a Bonus under the foregoing provisions UNDER THE FOREGOING PROVISIONS of this clause (ii) but during which year the Employee did not work the entire calendar year, the Employee shall be entitled to a Bonus equal to the product of the Bonus, as calculated under the foregoing provisions, multiplied by a fraction, the numerator of which is the number of months during such calendar year that the Employee was employed with the Company and the denominator of which is twelve. For purposes of calculating the Bonus, if any, of Employee for the year ending December 31, 1998 (and for no other purposes) the Employee shall be deemed to have commenced employment hereunder on September 10, 1998.

ANNUAL COMPANY BONUS. Subject to paragraph (F) below, for For each calendar year commencing with the year ending December 31, 19981999, during at the end of which year the Employee is employed by the Company: (A) if Kellxxxxx xxx the Company has Net Income (as hereinafter defined) for such year of in an amount equal to Kellxxxxx'x xxxget the Company's target net income as determined in the sole discretion discre tion of the Board of Directors of Kellxxxxx (xx or the Executive Committee) for such year (the "TARGETTarget"), the Employee shall be entitled to a bonus in the an amount equal to $100,000.the Salary of the Employee as of December 31 of such year (the "Target Bonus"); (B) if Kellxxxxx xxx the Company has Net Income for such year more than in an amount which exceeds the Target and but is less than 150% of the Target, the Employee shall be entitled to a bonus calculated as calculated belowfollows: B = $100,000 Target Bonus + [$100,000 Target Bonus x (NI - T)] ---------- T 3 where: B = the bonus earned in such year. year T = the Target for such year. year NI = the actual Net Income of Kellxxxxx xxx the Company for such year as determined in accordance with GAAP.; (C) if Kellxxxxx xxx the Company has Net Income for such year of in an amount which equals or exceeds 150% of the Target or morefor such year, the Employee shall be entitled to a bonus of $150,000.150% of the Target Bonus; (D) if Kellxxxxx xxx the Company has Net Income for such year of in an amount which is less than 50% of the TargetTarget for such year, the Employee shall not be entitled to a bonus.; or (E) if Kellxxxxx xxx the Company has Net Income for such year of at least in an amount which equals or exceeds 50% of the Target for such year but is less than the TargetTarget for such year, the Employee shall be entitled to a bonus calculated as calculated belowfollows: B = $100,000 Target Bonus - [$100,000 Target Bonus x 2 X (T - NI)] -------------- ------------ T where: B = the bonus earned in such year. year T = the Target for such year. NI= year NI = the actual Net Income of Kellxxxxx xxx the Company for such year as determined in accordance with GAAP. (F) for any calendar year regarding which the Employee is entitled to a Bonus under the foregoing provisions of this clause (ii) but during which year the Employee did not work the entire calendar year, the Employee shall be entitled to a Bonus equal to the product of the Bonus, as calculated under the foregoing provisions, multiplied by a fraction, the numerator of which is the number of months during such calendar year that the Employee was employed with the Company and the denominator of which is twelve.

ANNUAL COMPANY BONUS. Subject to paragraph (F) below, for each calendar year commencing with the year ending December 31, 1998, during which the Employee is employed by the Company: (A) if Kellxxxxx xxx Net Income (as hereinafter defined) for such year of an amount equal to Kellxxxxx'x xxxget net income as determined in the sole discretion of the Board of Directors of Kellxxxxx (xx the Executive Committee) for such year year, which target shall be no higher than the target established for Kellxxxxx'x xxxer officers (the "TARGETTarget"), the Employee shall be entitled to a bonus in the amount equal to $100,000. (B) if Kellxxxxx xxx Net Income for such year more than the Target and less than 150% of the Target, the Employee shall be entitled to a bonus as calculated below: B = $100,000 + [$100,000 x (NI - NI-T)] ---------- ------ T 3 where: B = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of Kellxxxxx xxx Kellxxxxx. xxr such year as determined in accordance with GAAP. (C) if Kellxxxxx xxx Net Income for such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $150,000. (D) if Kellxxxxx xxx Kellxxxxx. xxs Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if Kellxxxxx xxx Net Income for such year of at least 50% of the Target but less than the Target, the Employee shall be entitled to a bonus as calculated below: B = $100,000 - [$100,000 x 2 X (T - x(T-NI)] -------------- ------ T where: B = the bonus earned in such year. T = the Target for such year. NI= NI = the actual Net Income of Kellxxxxx xxx such year as determined in accordance with GAAP. (F) for any calendar year regarding which the Employee is entitled to a Bonus under the foregoing provisions of this clause (ii) but during which year the Employee did not work the entire calendar year, the Employee shall be entitled to a Bonus equal to the product of the Bonus, as calculated under the foregoing provisions, multiplied by a fraction, the numerator of which is the number of months during such calendar year that the Employee was employed with the Company and the denominator of which is twelve. For purposes of calculating the Bonus, if any, of Employee for the year ending December 31, 1998 (and for no other purposes) the Employee shall be deemed to have commenced employment hereunder on September 10, 1998.