Bonus Compensation Plan. Solely with respect to calendar year 2014 (or 2015, if the Closing Date occurs in that calendar year), Buyer or one of Buyer’s Affiliates shall adopt or, as applicable, continue a bonus compensation plan that is substantially similar, including in respect of performance targets set forth therein, to the existing bonus plan attached hereto as Schedule 6.3(h), and shall maintain such bonus plan for the benefit of the Transferred Employees, paying all calendar year 2014 (or 2015, if the Closing Date occurs in that calendar year) bonuses and incentives to the extent earned pursuant to such bonus plan, without any reduction in incentive or bonus opportunity and without any material increase in the difficulty of earning any incentive or bonus.
Bonus Compensation Plan. Bonus compensation shall be payable in cash and/or stock options in accordance with a bonus compensation plan put into effect by Telecom's Board of Directors for each fiscal year. The bonus compensation plan will be administered by a committee appointed by Telecom's Board of Directors. For the fiscal year beginning October 1, 1998, and each fiscal year thereafter, the Executive shall have the opportunity to earn a bonus compensation with a target range of fifty percent (50%) of base salary upon the Company's achieving certain pre-established goals in such areas as Company profitability, advancement in the public market of the price of Telecom's common stock, and operations. The pre-established goals, which are subject to the approval of the Compensation Committee of Telecom's Board of Directors, will be mutually determined by the Company and the Executive for each fiscal year, prior to or within thirty (30) days of the commencement of each fiscal year. Notwithstanding the foregoing paragraph, the Company will pay the Executive a bonus payment of $45,000 in January 1999, such payment to be applied against any bonus that may be earned by the Executive under the bonus compensation plan in effect for such year.
Bonus Compensation Plan. Solely with respect to calendar year 2014, Buyer or one of Buyer’s Affiliates shall adopt or, as applicable, continue a bonus compensation plan that is substantially similar, including in respect of performance targets set forth therein, to the existing bonus plan attached hereto as Schedule 6.3(h), and shall maintain such bonus plan for the benefit of the Transferred Employees, paying all calendar year 2014 bonuses and incentives to the extent earned pursuant to such bonus plan, without any reduction in incentive or bonus opportunity and without any material increase in the difficulty of earning any incentive or bonus.
Bonus Compensation Plan. In addition to the base salary, the Employee shall be compensated for the sales and operating results achieved by the Company in accordance with the following schedules:
(a) Commencing as of February 1, 2002, 1% on EBIT of $1,000,000.00 to $1,500,000.00;
(b) 1.5% on EBIT from $1,500,000.00 to $2,000,000.00;
(c) 3% on EBIT from $2,000,000.00 to $2,500,000.00;
(d) 4% on EBIT in excess of $2,500,000.00.
(e) It is further agreed that in the event the Company realizes an EBIT of $3,000,000.00 or more in calendar year 2003 or calendar year 2004, the Company will provide the employee with an option to purchase an additional 25,000 shares of Common Stock of the Company at a price of $3.50 per share pursuant to Paragraph 2 (c) of this Agreement. Any commissions that may be due and owing to the Employee pursuant to the aforesaid schedule shall be paid within ninety (90) days from the end of the fiscal year.
Bonus Compensation Plan. Employee shall be entitled to receive a bonus and Company agrees to implement a Bonus Compensation Plan for Employee within sixty (60) days of the Effective Date, upon such terms and conditions that are mutually acceptable to Company and Employee. Company and Employee agree that each will negotiate the terms of the Commission Based Bonus Compensation Plan in good faith, and will reduce such agreement to a writing, signed by the Parties, which shall form Exhibit A hereto. Company and Employee agree that the targeted Bonus shall be Twenty Thousand Dollars ($20,000).
