Common use of Cash Incentive Bonus Clause in Contracts

Cash Incentive Bonus. For the calendar year 2001 and for each subsequent calendar year, or portion thereof, during the Employment Term, a reasonable target EBITDA (as defined below) for each calendar year and a target bonus for the Employee for such calendar year, which target bonus shall be at least equal to seventy-five percent (75%) of the Employee's annual base salary in effect for such calendar year, shall be submitted to the Board by the chief executive officer, or the highest ranking officer then in service, of the Subsidiary (the "CEO") and agreed to by the Board and the CEO, and as soon as practicable after the end of each such calendar year as the actual EBITDA achieved for such calendar year has been determined, the Company shall cause the Subsidiary to pay to the Employee a lump-sum bonus determined as described in this Section 4(b). No portion of such bonus will be paid if less than 85% of the target EBITDA is achieved in the applicable calendar year. Payment of 85% of the target bonus would be made if 85% of the target EBITDA is achieved, and if the actual EBITDA for the applicable calendar year exceeds 85% of the target EBITDA for such year, the percentage of the target bonus paid shall be the percentage of the target EBITDA so achieved in such year. For example, if 92% of the target EBITDA is achieved in a calendar year, 92% of the target bonus would be paid for such year, or if 160% of the target EBITDA is achieved in a calendar year, 160% of the target bonus would be paid for such year. If during the course of any calendar year, the Company shall sell or otherwise dispose of five percent (5%) or more of the total assets of the Company and its subsidiaries, the CEO and the Board shall establish a revised EBITDA target for such calendar year after receiving management's recommendation.

Cash Incentive Bonus. For the calendar year 2001 1999 and for each subsequent calendar year, or portion thereof, during the Employment Term, a reasonable target EBITDA (as defined below) for each calendar year and a target bonus for the Employee for such calendar year, which target bonus shall be at least equal to seventy-five percent (75%) of the Employee's annual base salary in effect for such calendar year, year shall be submitted to the Board by the chief executive officer, or the highest ranking officer then in service, of the Subsidiary (the "CEO") and agreed to by the Board and the CEO, and as soon as practicable after the end of each such calendar year as the actual EBITDA achieved for such calendar year has been determined, the Company shall cause the Subsidiary to pay to the Employee a lump-sum bonus determined as described in this Section 4(b). No portion of such bonus will be paid if less than 85% of the target EBITDA is achieved in the applicable calendar year. Payment of 85% of the target bonus would be made if 85% of the target EBITDA is achieved, and if the actual EBITDA for the applicable calendar year exceeds 85% of the target EBITDA for such year, the percentage of the target bonus paid shall be the percentage of the target EBITDA so achieved in such year. For example, if 92% of the target EBITDA is achieved in a calendar year, 92% of the target bonus would be paid for such year, or if 160% of the target EBITDA is achieved in a calendar year, 160% of the target bonus would be paid for such year. If during the course of any calendar year, the Company shall sell or otherwise dispose of five percent (5%) or more of the total assets of the Company and its subsidiaries, the CEO and the Board shall establish a revised EBITDA target for such calendar year after receiving management's recommendation.

Cash Incentive Bonus. For the calendar year 2001 and for each subsequent calendar year, or portion thereof, during the Employment Term, a reasonable target EBITDA (as defined below) for each calendar year and a target bonus for the Employee for such -2- calendar year, which target bonus shall be at least equal to seventy-five percent (75%) of the Employee's annual base salary in effect for such calendar year, shall be submitted to the Board by the chief executive officer, or the highest ranking officer then in service, of the Subsidiary (the "CEO") and agreed to by the Board and the CEO, and as soon as practicable after the end of each such calendar year as the actual EBITDA achieved for such calendar year has been determined, the Company shall cause the Subsidiary to pay to the Employee a lump-sum bonus determined as described in this Section 4(b). No portion of such bonus will be paid if less than 85% of the target EBITDA is achieved in the applicable calendar year. Payment of 85% of the target bonus would be made if 85% of the target EBITDA is achieved, and if the actual EBITDA for the applicable calendar year exceeds 85% of the target EBITDA for such year, the percentage of the target bonus paid shall be the percentage of the target EBITDA so achieved in such year. For example, if 92% of the target EBITDA is achieved in a calendar year, 92% of the target bonus would be paid for such year, or if 160% of the target EBITDA is achieved in a calendar year, 160% of the target bonus would be paid for such year. If during the course of any calendar year, the Company shall sell or otherwise dispose of five percent (5%) or more of the total assets of the Company and its subsidiaries, the CEO and the Board shall establish a revised EBITDA target for such calendar year after receiving management's recommendation.