Common use of Compensation; Bonus Clause in Contracts

Compensation; Bonus. (a) As compensation for services hereunder and in consideration of his agreement not to compete as set forth in paragraph 8 hereof, the Company shall pay the Employee a base salary at the annual rate of $185,000.00. Such base salary shall be paid in equal installments in accordance with the normal payroll policies of the Company, but no less frequently than bi-weekly. (b) Employee shall be eligible to receive such raises and cash or stock bonuses as the Board shall in its sole discretion, from time to time, determine. Employee shall be entitled to participate on the same basis in any bonus or other incentive programs sponsored by the Company for employees in similar standing and position within the Company. (c) Additional compensation for those certain Noncompete Covenants (defined herein) is set forth in Paragraph 8(b) hereof.

Compensation; Bonus. (a) As compensation for services hereunder and in consideration of his agreement not to compete as set forth in paragraph 8 7 hereof, the Company shall pay the Employee a base salary at the annual rate of $185,000.00110,000.00. Such base salary shall be paid in equal installments in accordance with the normal payroll policies of the Company, but no less frequently than bi-weekly. (b) Employee shall be eligible to receive such raises and cash or stock bonuses as the Board shall in its sole discretion, from time to time, determine. Employee shall be entitled to participate on the same basis in any bonus or other incentive programs sponsored by the Company for employees in similar standing and position within the Company. (c) Additional compensation for those certain Noncompete Covenants (defined herein) is set forth in Paragraph 8(b) hereof.