Retention Bonus. If the Executive is an active employee of the Company on the one-year anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $100,000. If the Executive is an active employee of the Company on each successive anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $200,000. In the sole discretion of the Executive, the amount of the deferred may be converted into Common Stock at $.10 per share.
Appears in 4 contracts
Samples: Personal Services Agreement (Newport Entertainment Group, Inc.), Personal Services Agreement (Newport Entertainment Group, Inc.), Personal Services Agreement (Newport Entertainment Group, Inc.)
Retention Bonus. If the Executive is an active employee of the Company on the one-year anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $100,000. If the Executive is an active employee of the Company on each successive anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $200,000. In the sole discretion of the Executive, the amount of the deferred bonus may be converted into Common Stock at $.10 .25 per share.
Appears in 2 contracts
Samples: Personal Services Agreement (Mezey Howarth Racing Stables, Inc.), Personal Services Agreement (Mezey Howarth Racing Stables, Inc.)
Retention Bonus. If the Executive is an active employee of the Company on the one-January 1st of each year anniversary (the "Anniversary Date") of the Effective Datewhile this Agreement is effective, the Executive will be paid a bonus equal to $100,000200,000. If the Executive is an active employee of the Company on each successive anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $200,000. In the sole discretion of the Executive, the amount of the deferred bonus may be converted into Common Stock at $.10 per sharethe closing price of the stock.
Appears in 2 contracts
Samples: Personal Services Agreement (Mezey Howarth Racing Stables, Inc.), Personal Services Agreement (Mezey Howarth Racing Stables, Inc.)
Retention Bonus. If the Executive is an active employee of the Company on the one-July 1st of each year anniversary (the "Anniversary Date") of the Effective Datewhile this Agreement is effective, the Executive will be paid a bonus equal to $100,00050,000. If the Executive is an active employee of the Company on each successive anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $200,000100,000. In the sole discretion of the Executive, the amount of the deferred bonus may be converted into Common Stock at $.10 per sharethe closing price of the stock.
Appears in 1 contract
Retention Bonus. If the Executive is an active employee of the Company on the one-July 1st of each year anniversary (the "Anniversary Date") of the Effective Datewhile this Agreement is effective, the Executive will be paid a bonus equal to $100,000. If the Executive is an active employee of the Company on each successive anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $200,000. In the sole discretion of the Executive, the amount of the deferred bonus may be converted into Common Stock at $.10 per sharethe closing price of the stock.
Appears in 1 contract