Employee Incentive Bonus. The Employee shall be entitled to participate in the Senior Management Stock Incentive Plan when and if such plan is formed and adopted by the company’s Board of Directors. The Board’s determination of entitlement under such plan shall be at their sole and absolute discretion.
Employee Incentive Bonus. Employee Incentive bonuses granted pursuant to this Agreement shall be paid annually, within ten (10) days of the completion of the annual independent audit of Employer. Such bonuses shall be one percent (1%) of Employer’s “Gross Sales over $25,000,000” on an annualized basis, or $6, 375,000 per quarter, and the company reports a positive EBITDA for the period. For the purposes of this section, no non-cash charges will be included in the calculation of EBITDA. The bonus amount in section 3 will be limited to a maximum of $750,000 in any calendar year and shall continue so long as Employee is an employee or consultant for Employer.
Employee Incentive Bonus. Employee Incentive bonuses granted pursuant to this Agreement shall be paid annually, within ten (10) days of the completion of the annual independent audit of Employer. Such bonuses shall be one-half (1/2) percent of Employer’s “Gross Sales” up to a maximum of 25% of Employee’s Salary.
Employee Incentive Bonus. Employee Incentive bonuses granted pursuant to this Agreement shall be paid annually, within ten (10) days of the completion of the annual independent audit of Employer. Such bonuses shall be as set forth in Addendum A hereto, as from time to time amended. However, in no event shall such bonus be paid unless the Gross Sales for the applicable year are greater than $5 million. For a bonus to be earned in any year subsequent to the initial year, Gross Sales shall be at a minimum of $10 million. Assuming the minimums are met in any period, then any bonus paid on an amount over the minimum shall be prorated; subject only to a limit in any fiscal year to a maximum of One Million Dollars ($1,000,000) being payable to the Employee pursuant to this Agreement.
Employee Incentive Bonus. In each of the three (3) full fiscal years beginning on January 1, 2012, the Seller Continuing Employees shall be eligible to receive an annual incentive bonus (the “Employee Incentive Bonus”), based on the achievement by the Surviving Corporation of certain non-GAAP revenue, operating income and technology milestone criteria, as mutually agreed to by Buyer and the Seller’s Chief Executive Officer prior to Closing, and as subsequently modified by the Buyer and Xx. Xxxx, in an aggregate amount equal to ten percent (10%) of the aggregate base salaries of such Seller Continuing Employees who are then employed by Buyer, the Surviving Corporation or one of their Subsidiaries for such fiscal year. The individual amounts of the Employee Incentive Bonus for each Seller Continuing Employee shall be mutually agreed to by Buyer’s and Seller’s Chief Executive Officers. The final aggregate amount of such Employee Incentive Bonuses is subject to approval by the Buyer’s Board of Directors or a committee thereof. Except as set forth in an offer letter executed in connection with the transactions contemplated hereby, the payment of an Employee Incentive Bonus to any Seller Continuing Employee shall be subject to the same terms and conditions as incentive bonuses are payable to Buyer’s employees.
