First Tranche. If 1998 EBITDA exceeds the Cash Flow Target, ------------- subject to any Adjustments, by at least $1,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 22 1/2 % of the excess (up to an excess amount of $1,000,000) of 1998 EBITDA above $81,500,000, 5% of which shall be payable to the President and 17 1/2% of which shall be payable to such other key employees of the Company, including the Executive, as the President of the Company shall determine after consultation with the Chief Executive Officer of PCC.
Appears in 2 contracts
Samples: Employment Agreement (Price Communications Corp), Employment Agreement (Price Communications Wireless Inc)
First Tranche. If 1998 EBITDA exceeds the Cash Flow Target, ------------- subject to any Adjustments, by at least $1,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 22 1/2 % of the excess (up to an excess amount of $1,000,000) of 1998 EBITDA above $81,500,000, 5% of which shall be payable to the President Executive and 17 1/2% of which shall be payable to such other key employees of the Company, including the Executive, Company as the President of the Company Executive shall determine after consultation with the Chief Executive Officer of PCC.
Appears in 2 contracts
Samples: Employment Agreement (Price Communications Wireless Inc), Employment Agreement (Price Communications Corp)
First Tranche. If 1998 EBITDA exceeds the Cash Flow Target, ------------- subject to any Adjustments, by at least $1,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 22 1/2 221/2% of the excess (up to an excess amount of $1,000,000) of 1998 EBITDA above $81,500,000, 5% of which shall be payable to the President Executive and 17 1/2171/2% of which shall be payable to such other key employees of the Company, including the Executive, Company as the President of the Company Executive shall determine after consultation with the Chief Executive Officer of PCC.
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