BONUS FOR EXCEPTIONAL PERFORMANCE Clause Samples
BONUS FOR EXCEPTIONAL PERFORMANCE. At the time the parties enter into the service agreement with respect to any project, the parties shall use their best efforts to agree in writing to certain performance standards for such project (the "Bonus Standards") which must be achieved by PharmaBio in order for it to be entitled to a payment in excess of the fees provided by Section 2.1 (the "Bonus Fee") and to agree to the overall fees and costs of the project under Section 2.0 (the "Planned Cost"). The parties acknowledge that a Bonus Standard shall be based on exceptional, industry leading performance and such other levels of performance as may be agreed to by the parties. The parties anticipate that the Bonus Fee shall be up to ten percent (10%) of "net revenue" PharmaBio receives for a project under this Section 2.0. "
BONUS FOR EXCEPTIONAL PERFORMANCE. Company agrees that Consultant will receive a bonus for exceptional performance in the event the Company's financial condition is stabilized or the Company is sold or merged. In the event the Company's financial condition is stabilized through the end of the Company's current fiscal year without recourse to reorganization under Title 11 of the United States Code, Consultant shall be paid a Success Fee in the amount of $200,000. In the event the Company becomes a debtor in a case under Title 11 of the United States Code, Consultant shall be paid a Success Fee in the amount of $200,000, in the event a Plan of Reorganization is confirmed on or before twelve (12) months following the initial filing date.