Common use of Fourth Tranche Clause in Contracts

Fourth Tranche. If 1988 EBITDA exceeds the Cash Flow Target, -------------- subject to any Adjustments, by at least $4,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 37 1/2% of the excess of 1998 EBITDA above $84,500,000, 5% of which shall be payable to the President and 32 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. The Company's 1998 EBITDA shall be determined by the Company's regularly employed independent certified public accountants, the determination of which shall be conclusive and binding upon the Company and the Executive. The Company and the President of the Company intend to agree upon an appropriate bonus plan for 1999 prior to the end of the 1998.

Fourth Tranche. If 1988 the 1998 EBITDA exceeds the Cash Flow Target, -------------- subject to any Adjustments, by at least $4,000,000, 4,000,000 the Bonus Pool shall be entitled to receive a total cash bonus equal to 37 1/2371/2% of the excess of 1998 EBITDA above $84,500,000, 5% of which shall be payable to the President Executive and 32 1/2321/2% 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 Office of PCC. The Company's 1998 EBITDA shall be determined by the Company's regularly employed independent certified public accountants, the determination of which shall be conclusive and binding upon the Company and the Executive. The Company and the President of the Company Executive intend to agree upon an appropriate bonus plan for 1999 prior to the end of the 1998.

Fourth Tranche. If 1988 EBITDA exceeds the Cash Flow Target, subject -------------- subject to any Adjustments, by at least $4,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 37 1/2% of the excess of 1998 EBITDA above $84,500,000, 5% of which shall be payable to the President Executive and 32 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. The Company's 1998 EBITDA shall be determined by the Company's regularly employed independent certified public accountants, the determination of which shall be conclusive and binding upon the Company and the Executive. The Company and the President of the Company Executive intend to agree upon an appropriate bonus plan for 1999 prior to the end of the 1998.

Fourth Tranche. If 1988 EBITDA exceeds the Cash Flow Target, -------------- subject to any Adjustments, by at least $4,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 37 1/2% of the excess of 1998 EBITDA above $84,500,000, 5% of which shall be payable to the President Executive and 32 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. The Company's 1998 EBITDA shall be determined by the Company's regularly employed independent certified public accountants, the determination of which shall be conclusive and binding upon the Company and the Executive. The Company and the President of the Company Executive intend to agree upon an appropriate bonus plan for 1999 prior to the end of the 1998.