Annual EBITDA Bonuses. For each of the fiscal years ended December 31, 2005, 2006 and 2007 (each, a “Bonus Year”), the Employee shall be entitled to receive the following: (A) for the 2005 Bonus Year, the Employee shall be entitled to receive a cash bonus equal to ten percent (10%) of the difference between the Broadway Ticketing Division EBITDA achieved for the fiscal year ended December 31, 2005 and the Broadway Ticketing Division EBITDA achieved for the fiscal year ended December 31, 2003; (B) for the 2006 Bonus Year, the Employee shall be entitled to receive a cash bonus equal to ten percent (10%) of the difference between the Broadway Ticketing Division EBITDA achieved for the fiscal year ended December 31, 2006 and the Broadway Ticketing Division EBITDA achieved for the fiscal year ended December 31, 2004; and (C) for the 2007 Bonus Year, the Employee shall be entitled to receive a cash bonus equal to ten percent (10%) of the difference between the Broadway Ticketing Division EBITDA achieved for the fiscal year ended December 31, 2007 and the Broadway Ticketing Division EBITDA achieved for the fiscal year ended December 31, 2005. Each of the above referenced bonuses, if earned, shall be due and payable on May 31 in the year following the Bonus Year applicable to such bonus.
Annual EBITDA Bonuses. If, during the period January 1, 2000 --------------------- through December 31, 2000, Executive achieves Company's Earnings Before Interest Taxes Depreciation and Amortization ("EBITDA") goal set forth in Company's Year 2000 Business Plan (the "Plan"), a copy of which is attached hereto and incorporated herein by reference, Company will pay Executive a one-time, lump sum EBITDA Bonus in the gross amount of $25,000.00, less authorized and required deductions. Further, if, during the same period, the actual EBITDA results exceed Company's EBITDA budget by at least 10%, Company will pay Executive an additional one-time, lump sum EBITDA Bonus in the gross amount of $21,000.00 (10% of base salary), less authorized and required deductions. Further, Company will pay Executive an additional lump sum EBITDA Bonus in the gross amount of $2,100, less authorized and required deductions, for each additional one percent (I%) that the actual EBITDA results exceed Company's EBITDA budget during the same period by greater than ten percent (10%).
Annual EBITDA Bonuses. If Executive achieves --------------------- Company's adjusted Earnings Before Interest Taxes Depreciation and Amortization (i.e., earnings before interest, taxes, depreciation, and amortization less CAPEX, net of interest paid and earned) ("EBITDA") goal as set forth in Company's Annual Business Plan as approved by the Board of Directors (the "Plan"), Company shall pay Executive annually an EBITDA Bonus in the gross amount equal to 25% of his Annual Base Pay, less authorized and required deductions. Further, if the actual EBITDA results exceed Company's EBITDA budget set forth in the Plan, Company shall pay Executive an additional EBITDA Bonus annually in the gross amount equal to 2.5% of Annual Base Salary for each additional one percent (1%) that the actual EBITDA results exceed Company's EBITDA budget set forth in the Plan, less authorized and required deductions.
