Common use of ANNUAL COMPANY BONUS Clause in Contracts

ANNUAL COMPANY BONUS. For each calendar year commencing with the year ending December 31, 1997, at the end of which the Employee is employed by the Company: (A) if the Company has Net Income (as hereinafter defined) for such year of an amount equal to the Company's target net income before taxes as determined solely by the Board (or the Executive Committee of the Board, if one exists) for such year (the "Target"), the Employee shall be entitled to a bonus in the amount equal to $20,000. (B) if the Company has 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 = $20,000 + $20,000 x (NI - T) -------- T where: B = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of the Company for such year as determined in accordance with GAAP. (C) if the Company has Net Income for such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $30,000. (D) if the Company has Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if the Company has 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 = $20,000 - ($20,000 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 the Company for such year as determined in accordance with GAAP.

ANNUAL COMPANY BONUS. For each calendar year commencing with the year ending December 31, 1997, at the end of which the Employee is employed by the Company: (A) if the Company has Net Income (as hereinafter defined) for such year of an amount equal to the Company's target net income before taxes as determined solely by the Board (or the Executive Committee of the Board, if one exists) for such year (the "Target"), the Employee shall be entitled to a bonus in the amount equal to $20,00090,000. (B) if the Company has 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 = $20,000 90,000 + $20,000 90,000 x (NI - T) -------- _______ T where: B = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of the Company for such year as determined in accordance with GAAP. (C) if the Company has Net Income for such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $30,000135,000. (D) if the Company has Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if the Company has 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 = $20,000 90,000 - ($20,000 90,000 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 the Company for such year as determined in accordance with GAAP.

ANNUAL COMPANY BONUS. For each calendar year commencing with the year ending December 31, 1997, at the end of which the Employee is employed by the Company: (A) if the Company has Net Income (as hereinafter defined) for such year of an amount equal to the Company's target net income before taxes as determined solely by the Board (or the Executive Committee of the Board, if one exists) for such year (the "Target"), the Employee shall be entitled to a bonus in the amount equal to $20,00057,500. (B) if the Company has 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 = $20,000 57,500 + $20,000 57,500 x (NI - T) -------- T where: B = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of the Company for such year as determined in accordance with GAAP. (C) if the Company has Net Income for such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $30,00086,250. (D) if the Company has Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if the Company has 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 = $20,000 57,500 - ($20,000 57,500 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 the Company for such year as determined in accordance with GAAP.

ANNUAL COMPANY BONUS. For Subject to subparagraph (F) below, for each calendar year commencing with the year ending December 31, 19971999, at the end of during which the Employee is employed by the Company: (A) if the Company has Net Income (as hereinafter defined) for such year of an amount equal to the Company's target net income before taxes as determined solely by in the sole discretion of the Board (or the Executive Committee of the Board, if one existsCommittee) for such year (the "Target"), the Employee shall be entitled to a bonus in the amount equal to $20,00080,000. (B) if the Company has 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 = $20,000 80,000 + [$20,000 80,000 x (NI - T) )] -------- T where: B = the bonus earned in such year. T = the Target for such year. NI = the actual Net Income of the Company for such year as determined in accordance with GAAP. (C) if the Company has Net Income for such year of 150% of the Target or more, the Employee shall be entitled to a bonus of $30,000120,000. (D) if the Company has Net Income for such year of less than 50% of the Target, the Employee shall not be entitled to a bonus. (E) if the Company has 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 = $20,000 80,000 - ([$20,000 80,000 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 the Company for such year as determined in accordance with GAAP.: