Common use of Executive Loan Clause in Contracts

Executive Loan. (i) On the Commencement Date, Thane shall lend to the Executive a principal amount of $714,250 (the "EXECUTIVE LOAN"), which will be evidenced by the secured promissory note in substantially the form of EXHIBIT A attached hereto and subject to the Pledge Agreement substantially in the form of EXHIBIT B attached hereto. If the Corporation's cumulative EBITDA for the 2003, 2004 and 2005 fiscal years (the "THREE-YEAR FISCAL PERIOD") equals or exceeds $15.0 million, the Executive shall be entitled to (A) full forgiveness of all principal and interest outstanding on the Executive Loan (the "EXECUTIVE LOAN FORGIVENESS") and (B) a cash bonus equal to $285,750 (the "EBITDA BONUS"). All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period. For each fiscal quarter during the Three-Year Fiscal Period, the Executive shall be entitled to receive (to the extent not previously forgiven or paid (as applicable) in any previous fiscal quarter) a ratable portion of the Executive Loan Forgiveness and the EBITDA Bonus calculated by multiplying (1) the full amount of each of the Executive Loan and the EBITDA Bonus by (2) a fraction: (x) the numerator of which is the Corporation's cumulative EBITDA as of the end of then current fiscal quarter, and (y) the denominator of which is $15.0 million, and SUBTRACTING from the foregoing product the aggregate amount of the Executive Loan Forgiveness and the EBITDA Bonus previously distributed to the Executive. All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (A) within forty-five (45) days of the end of each fiscal quarter and (B) within sixty (60) days of the end of each fiscal year.

Executive Loan. (i) On the Commencement Date, Thane shall lend to the Executive a principal amount of $714,250 _________ (the "EXECUTIVE LOANExecutive Loan"), which will be evidenced by the secured promissory note in substantially the form of EXHIBIT Exhibit A attached hereto and subject to the Pledge Agreement substantially in the form of EXHIBIT Exhibit B attached hereto. If the Corporation's cumulative EBITDA for the 2003, 2004 and 2005 fiscal years (the "THREEThree-YEAR FISCAL PERIODYear Fiscal Period") equals or exceeds $15.0 million, the Executive shall be entitled to (Ai) full forgiveness of all principal and interest outstanding on the Executive Loan (the "EXECUTIVE LOAN FORGIVENESSExecutive Loan Forgiveness") and (Bii) a cash bonus equal to $285,750 _______ (the "EBITDA BONUSBonus"). All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period. For each fiscal quarter during the Three-Year Fiscal Period, the Executive shall be entitled to receive (to the extent not previously forgiven or paid (as applicable) in any previous fiscal quarter) a ratable portion of the Executive Loan Forgiveness and the EBITDA Bonus calculated by multiplying (1A) the full amount of each of the Executive Loan and the EBITDA Bonus by (2B) a fraction: (x) the numerator of which is the Corporation's cumulative EBITDA as of the end of then current fiscal quarter, and (y) the denominator of which is $15.0 million, and SUBTRACTING subtracting from the foregoing product the aggregate amount of the Executive Loan Forgiveness and the EBITDA Bonus previously distributed to the Executive. All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (Ai) within forty-five (45) days of the end of each fiscal quarter and (Bii) within sixty (60) days of the end of each fiscal year.

Executive Loan. (i) On the Commencement Date, Thane shall lend to the Executive a principal amount of $714,250 (the "EXECUTIVE LOANExecutive Loan"), which will be evidenced by the secured promissory note in substantially the form of EXHIBIT Exhibit A attached hereto hereto and subject to the Pledge Agreement substantially in the form of EXHIBIT Exhibit B attached hereto. If the Corporation's cumulative EBITDA for the 2003, 2004 and 2005 fiscal years (the "THREEThree-YEAR FISCAL PERIODYear Fiscal Period") equals or exceeds $15.0 million, the Executive shall be entitled to (Ai) full forgiveness of all principal and interest outstanding on the Executive Loan (the "EXECUTIVE LOAN FORGIVENESSExecutive Loan Forgiveness") and (Bii) a cash bonus equal to $285,750 (the "EBITDA BONUSBonus"). All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period. For each fiscal quarter during the Three-Year Fiscal Period, the Executive shall be entitled to receive (to the extent not previously forgiven or paid (as applicable) in any previous fiscal quarter) a ratable portion of the Executive Loan Forgiveness and the EBITDA Bonus calculated by multiplying (1A) the full amount of each of the Executive Loan and the EBITDA Bonus by (2B) a fraction: (x) the numerator of which is the Corporation's cumulative EBITDA as of the end of then current fiscal quarter, and (y) the denominator of which is $15.0 million, and SUBTRACTING subtracting from the foregoing product the aggregate amount of the Executive Loan Forgiveness and the EBITDA Bonus previously distributed to the Executive. All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (Ai) within forty-five (45) days of the end of each fiscal quarter and (Bii) within sixty (60) days of the end of each fiscal year.

Executive Loan. (i) On the Commencement Date, Thane shall lend to the Executive a principal amount of $714,250 1,071,500 (the "EXECUTIVE LOAN"), which will be evidenced by the secured promissory note in substantially the form of EXHIBIT A attached hereto and subject to the Pledge Agreement substantially in the form of EXHIBIT B attached hereto. If the Corporation's cumulative EBITDA for the 2003, 2004 and 2005 fiscal years (the "THREE-YEAR FISCAL PERIOD") equals or exceeds $15.0 million, the Executive shall be entitled to (A) full forgiveness of all principal and interest outstanding on the Executive Loan (the "EXECUTIVE LOAN FORGIVENESS") and (B) a cash bonus equal to $285,750 428,500 (the "EBITDA BONUS"). All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period. For each fiscal quarter during the Three-Year Fiscal Period, the Executive shall be entitled to receive (to the extent not previously forgiven or paid (as applicable) in any previous fiscal quarter) a ratable portion of the Executive Loan Forgiveness and the EBITDA Bonus calculated by multiplying (1) the full amount of each of the Executive Loan and the EBITDA Bonus by (2) a fraction: (x) the numerator of which is the Corporation's cumulative EBITDA as of the end of then current fiscal quarter, and (y) the denominator of which is $15.0 million, and SUBTRACTING from the foregoing product the aggregate amount of the Executive Loan Forgiveness and the EBITDA Bonus previously distributed to the Executive. All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (A) within forty-five (45) days of the end of each fiscal quarter and (B) within sixty (60) days of the end of each fiscal year.

Executive Loan. (i) On the Commencement Date, Thane shall lend to the Executive a principal amount of $714,250 1,071,500 (the "EXECUTIVE LOANExecutive Loan"), which will be evidenced by the secured promissory note in substantially the form of EXHIBIT Exhibit A attached hereto and subject to the Pledge Agreement substantially in the form of EXHIBIT Exhibit B attached hereto. If the Corporation's cumulative EBITDA for the 2003, 2004 and 2005 fiscal years (the "THREEThree-YEAR FISCAL PERIODYear Fiscal Period") equals or exceeds $15.0 million, the Executive shall be entitled to (Ai) full forgiveness of all principal and interest outstanding on the Executive Loan (the "EXECUTIVE LOAN FORGIVENESSExecutive Loan Forgiveness") and (Bii) a cash bonus equal to $285,750 428,500 (the "EBITDA BONUSBonus"). All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period. For each fiscal quarter during the Three-Year Fiscal Period, the Executive shall be entitled to receive (to the extent not previously forgiven or paid (as applicable) in any previous fiscal quarter) a ratable portion of the Executive Loan Forgiveness and the EBITDA Bonus calculated by multiplying (1A) the full amount of each of the Executive Loan and the EBITDA Bonus by (2B) a fraction: (x) the numerator of which is the Corporation's cumulative EBITDA as of the end of then current fiscal quarter, and (y) the denominator of which is $15.0 million, and SUBTRACTING subtracting from the foregoing product the aggregate amount of the Executive Loan Forgiveness and the EBITDA Bonus previously distributed to the Executive. All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (Ai) within forty-five (45) days of the end of each fiscal quarter and (Bii) within sixty (60) days of the end of each fiscal year.

Executive Loan. (i) On the Commencement Date, Thane shall lend to the Executive a principal amount of $714,250 (the "EXECUTIVE LOANExecutive Loan"), which will be evidenced by the secured promissory note in substantially the form of EXHIBIT Exhibit A attached hereto and subject to the Pledge Agreement substantially in the form of EXHIBIT Exhibit B attached hereto. If the Corporation's cumulative EBITDA for the 2003, 2004 and 2005 fiscal years (the "THREEThree-YEAR FISCAL PERIODYear Fiscal Period") equals or exceeds $15.0 million, the Executive shall be entitled to (Ai) full forgiveness of all principal and interest outstanding on the Executive Loan (the "EXECUTIVE LOAN FORGIVENESSExecutive Loan Forgiveness") and (Bii) a cash bonus equal to $285,750 (the "EBITDA BONUSBonus"). All amounts of Executive Loan Forgiveness and EBITDA Bonus shall be calculated based on the Corporation's financial statements at the end of each fiscal year during the Three-Year Fiscal Period. For each fiscal quarter during the Three-Year Fiscal Period, the Executive shall be entitled to receive (to the extent not previously forgiven or paid (as applicable) in any previous fiscal quarter) a ratable portion of the Executive Loan Forgiveness and the EBITDA Bonus calculated by multiplying (1A) the full amount of each of the Executive Loan and the EBITDA Bonus by (2B) a fraction: (x) the numerator of which is the Corporation's cumulative EBITDA as of the end of then current fiscal quarter, and (y) the denominator of which is $15.0 million, and SUBTRACTING subtracting from the foregoing product the aggregate amount of the Executive Loan Forgiveness and the EBITDA Bonus previously distributed to the Executive. All earned portions of the Executive Loan Forgiveness and the EBITDA Bonus must be received by the Executive (Ai) within forty-five (45) days of the end of each fiscal quarter and (Bii) within sixty (60) days of the end of each fiscal year.