Common use of Fixed Salary Clause in Contracts

Fixed Salary. As compensation for Executive’s services Company shall pay Executive a salary of $150,000 per annum for the period June 1, 1997 through May 31, 1998, and an increase of $20,000 per annum for each twelve month period thereafter (the “Fixed Salary”) in equal monthly (or more frequent) installments less appropriate payroll deductions as required by law. In addition to his Fixed Salary, Executive shall receive, with respect to each full fiscal year during the term hereof, commencing with the year ending July 31, 1998, an annual bonus (the “Profit Bonus”) equal to six percent (6%) of the Company’s annual “Income Before Income Tax Provision” as stated on the Company’s Annual Report on Form 10-K. The Profit Bonus shall be payable within 120 days after the end of the Company’s fiscal year.

Fixed Salary. As compensation for Executive’s services Company shall pay Executive a salary of $150,000 55,000 per annum for the period June 1, 1997 through May 31, 1998, and an increase of $20,000 6,000 per annum for each twelve month period thereafter (the “Fixed Salary”) in equal monthly (or more frequent) installments less appropriate payroll deductions as required by law. In addition to his Fixed Salary, Executive shall receive, with respect to each full fiscal year during the term hereof, commencing with the year ending July 31, 1998, an annual bonus (the “Profit Bonus”) equal to six three percent (63%) of the Company’s annual “Income Before Income Tax Provision” as stated on the Company’s Annual Report on Form 10-K. The Profit Bonus shall be payable within 120 days after the end of the Company’s fiscal year.

Fixed Salary. As compensation for Executive’s 's services Company shall pay Executive a salary of $150,000 55,000 per annum for the period June 1, 1997 through May 31, 1998, and an increase of $20,000 6,000 per annum for each twelve month period thereafter (the “"Fixed Salary”") in equal monthly (or more frequent) installments less appropriate payroll deductions as required by law. In addition to his Fixed Salary, Executive shall receive, with respect to each full fiscal year during the term hereof, commencing with the year ending July 31, 1998, an annual bonus (the “"Profit Bonus”") equal to six three percent (63%) of the Company’s 's annual “"Income Before Income Tax Provision” " as stated on the Company’s 's Annual Report on Form 10-K. The Profit Bonus shall be payable within 120 days after the end of the Company’s 's fiscal year.

Fixed Salary. As compensation for Executive’s 's services Company shall pay Executive a salary of $150,000 per annum for the period June 1, 1997 through May 31, 1998, and an increase of $20,000 per annum for each twelve month period thereafter (the “"Fixed Salary”") in equal monthly (or more frequent) installments less appropriate payroll deductions as required by law. In addition to his Fixed Salary, Executive shall receive, with respect to each full fiscal year during the term hereof, commencing with the year ending July 31, 1998, an annual bonus (the “"Profit Bonus”") equal to six percent (6%) of the Company’s 's annual “"Income Before Income Tax Provision” " as stated on the Company’s 's Annual Report on Form 10-K. The Profit Bonus shall be payable within 120 days after the end of the Company’s 's fiscal year.