Common use of Management Bonus Clause in Contracts

Management Bonus. The performance of the business shall be reviewed at the end of each operating year and compared to such goals as are set forth in the business plan for that year as approved by the Board (the “Business Plan”). If the results of operations for the year achieve the net profitability goals for the year specified in the approved Business Plan, a bonus equal to no less than 33% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If the results of operations for the year exceed the net profitability goals of the approved Business Plan, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which performance exceeded such goals, and the Employee’s contribution to such superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If the results of operations for the year fail to achieve such net profitability goals, the amount, if any of the Employee’s Management Bonus shall be within the absolute discretion of the Committee, provided that the Committee shall give reasonable consideration to any intervening or extraordinary events or circumstances that might have given rise to such shortfall.

Management Bonus. The performance of the business shall be reviewed at the end of each operating year and compared to such goals as are set forth in the business plan for that year as approved by the Board (the “Business Plan”). If the results of operations for the year achieve the net profitability goals for the year specified in the approved Business Plan, a bonus equal to no less than 3325% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If the results of operations for the year exceed the net profitability goals of the approved Business Plan, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which performance exceeded such goals, and the Employee’s contribution to such superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If the results of operations for the year fail to achieve such net profitability goals, the amount, if any of the Employee’s Management Bonus shall be within the absolute discretion of the Committee, provided that the Committee shall give reasonable consideration to any intervening or extraordinary events or circumstances that might have given rise to such shortfall.

Management Bonus. The performance of the business shall be reviewed at the end of each operating year and compared to such goals as are set forth in the business plan for that year as approved by the Board (the “Business Plan”). If the results of operations for the year achieve the net profitability goals for the year specified in the approved Business Plan, a bonus equal to no less than 3340% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If the results of operations for the year exceed the net profitability goals of the approved Business Plan, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which performance exceeded such goals, and the Employee’s contribution to such superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If the results of operations for the year fail to achieve such net profitability goals, the amount, if any of the Employee’s Management Bonus shall be within the absolute discretion of the Committee, provided that the Committee shall give reasonable consideration to any intervening or extraordinary events or circumstances that might have given rise to such shortfall.

Management Bonus. The performance of the business shall be reviewed at the end of each operating year and compared to such goals as are set forth in the business plan for that year as approved by the Board (the “Business Plan”). If the results of operations for the year achieve the net profitability goals for the year specified in the approved Business Plan, a bonus equal to no less than 3320% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If the results of operations for the year exceed the net profitability goals of the approved Business Plan, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which performance exceeded such goals, and the Employee’s contribution to such superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If the results of operations for the year fail to achieve such net profitability goals, the amount, if any of the Employee’s Management Bonus shall be within the absolute discretion of the Committee, provided that the Committee shall give reasonable consideration to any intervening or extraordinary events or circumstances that might have given rise to such shortfall.