Common use of Bonus Incentive Package Clause in Contracts

Bonus Incentive Package. (1) Executive will receive incentive compensation equal to one and one-half percent (1.5%) of the Company's '”income from operations,”' defined as the Company's net income before taxes, amortization of intangible assets and interest on long-term debt. Executive's incentive compensation will be calculated annually based on the Company's audited financial statements for the fiscal year, and wi1l be payable in lump sum on July 1 of each year. Such payments will be subject to normal payroll deductions for state and federal withholding and social security taxes. Company shall pay to Executive a bonus in an amount equal to 25% of Executive’s base annual salary in each of the first two (2) fiscal years that Company’s EBITDA is one dollar ($1.00) or greater.

Bonus Incentive Package. (1) Executive will receive incentive compensation equal to one and one-half two percent (1.52%) of the Company's '”''income from operations,”' '' defined as the Company's net income before taxes, amortization of intangible assets and interest on long-term debt. Executive's incentive compensation will be calculated annually based on the Company's audited financial statements for the fiscal year, and wi1l be payable in lump sum on July 1 of each year. Such payments will be subject to normal payroll deductions for state and federal withholding and social security taxes. Company shall pay to Executive a bonus in an amount equal to 25% of Executive’s base annual salary in each of the first two (2) fiscal years that Company’s EBITDA is one dollar ($1.00) or greater.

Bonus Incentive Package. (1) Executive will receive incentive compensation equal to one and one-half percent (1.5%) of the Company's '”''income from operations,”' '' defined as the Company's net income before taxes, amortization of intangible assets and interest on long-term debt. Executive's incentive compensation will be calculated annually based on the Company's audited financial statements for the fiscal year, and wi1l be payable in lump sum on July 1 of each year. Such payments will be subject to normal payroll deductions for state and federal withholding and social security taxes. Company shall pay to Executive a bonus in an amount equal to 25% of Executive’s base annual salary in each of the first two (2) fiscal years that Company’s EBITDA is one dollar ($1.00) or greater.