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Common use of Bonus Shares Clause in Contracts

Bonus Shares. If the Company generates Pre-Tax Net Earnings After Compensation as hereinafter defined) in excess of Two Million Five Hundred Thousand Dollars ($2,500,000) (the "Minimum Earnings Level") during either the second or third year following the date of this Agreement, then Metro shall issue to Executive, as a bonus, shares of the non-restricted, publicly traded common stock of Metro (the "Bonus Shares"), as hereinafter provided. For purposes of this Agreement, "Pre-Tax Net Earnings After Compensation" with respect to any period shall mean Pre-Tax Net Earnings for such period less the Incentive Compensation and Deferred Compensation paid or payable for such period to Executive hereunder and to the Related Executives pursuant to the Related Agreements. The number of Bonus Shares to be issued shall be determined as follows:

Appears in 2 contracts

Samples: Employment Agreement (Metro Global Media Inc), Employment Agreement (Metro Global Media Inc)

Bonus Shares. If the Company generates Pre-Tax Net Earnings ------------ After Compensation as hereinafter defined) in excess of Two Million Five Hundred Thousand Dollars ($2,500,000) (the "Minimum Earnings Level") during either the second or third year following the date of this Agreement, then Metro shall issue to Executive, as a bonus, shares of the non-restricted, publicly traded common stock of Metro (the "Bonus Shares"), as hereinafter provided. For purposes of this Agreement, "Pre-Tax Net Earnings After Compensation" with respect to any period shall mean Pre-Tax Net Earnings for such period less the Incentive Compensation and Deferred Compensation paid or payable for such period to Executive hereunder and to the Related Executives pursuant to the Related Agreements. The number of Bonus Shares to be issued shall be determined as follows:

Appears in 2 contracts

Samples: Employment Agreement (Metro Global Media Inc), Employment Agreement (Metro Global Media Inc)