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, Plan and (ii) the Employee’s performance is determined in conformance with Company policy to have met expectations, a bonus equal to no less than 75% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If (i) the results of operations for the year exceed the net profitability goals of the approved Business Plan and (ii) the Employee’s performance is determined in conformance with Company policy to have exceeded expectations, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which results exceeded such goals, and the degree to which the Employee contributed to the Company’s superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If (i) the results of operations for the year fail to achieve such net profitability goals specified in the approved Business Plan or (ii), the Employee’s performance is determined in conformance with Company policy not to have met expectations, then 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. Further, if pursuant to the Company’s senior executive target equity ownership policies, the Employee’s targeted equity ownership levels have not been met, the Employee’s Management Bonus may be paid, in whole or in part, in shares of the Company’s common stock.

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, Plan and (ii) the Employee’s performance is determined in conformance with Company policy to have met expectations, a bonus equal to no less than 7580% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If (i) the results of operations for the year exceed the net profitability goals of the approved Business Plan and (ii) the Employee’s performance is determined in conformance with Company policy to have exceeded expectations, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which results exceeded such goals, and the degree to which the Employee contributed to the Company’s superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If (i) the results of operations for the year fail to achieve such net profitability goals specified in the approved Business Plan or (ii), the Employee’s performance is determined in conformance with Company policy not to have met expectations, then 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. Further, if pursuant to the Company’s senior executive target equity ownership policies, the Employee’s targeted equity ownership levels have not been met, the Employee’s Management Bonus may be paid, in whole or in part, in shares of the Company’s common stock.

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, Plan and (ii) the Employee’s performance is determined in conformance with Company policy to have met expectations, a bonus equal to no less than 7550% of the Employee’s Base Salary shall be paid to him (the “Management Bonus”). If (i) the results of operations for the year exceed the net profitability goals of the approved Business Plan and (ii) the Employee’s performance is determined in conformance with Company policy to have exceeded expectations, the amount of the Employee’s Management Bonus may be increased in recognition of the degree to which results exceeded such goals, and the degree to which the Employee contributed to the Company’s superior performance results as determined in the sole discretion of the Compensation Committee of the Board (the “Committee”). If (i) the results of operations for the year fail to achieve such net profitability goals specified in the approved Business Plan or (ii), the Employee’s performance is determined in conformance with Company policy not to have met expectations, then 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. Further, if pursuant to the Company’s senior executive target equity ownership policies, the Employee’s targeted equity ownership levels have not been met, the Employee’s Management Bonus may be paid, in whole or in part, in shares of the Company’s common stock.