Common use of Cash Bonus/Incentive Compensation Clause in Contracts

Cash Bonus/Incentive Compensation. In addition to the Base Salary provided for in Section 3(a) above, Employee shall be entitled depending upon mutually agreeable performance targets, a monthly bonus for each month in which Employer meets or exceeds performance targets. Bonus targets for each month or fiscal year shall be set by the Board of Directors of Employer. Such bonuses shall be payable quarterly. The Bonus shall be paid from Employer’s Investor Relations department, (“the Department”), which is exclusively devoted for the purpose of Investor Relations, Corporate Finance and related Marketing. The Employer has allocated to the “department” as its budget, Thirty Five Percent (35%) of the gross funds or revenues obtained by the Employer through investment capital. The bonus shall be Fifty Percent (50%) of the “net operating budget” of the “department” for efficiently and profitably managing the “Department”. “Net operating budget” shall be calculated as the gross “Budget” minus all direct “Department” expenditures, (those exclusively generated in connection with the investor relations department), for investor relations overhead, marketing, legal, accounting, operations, department employees payroll.