Common use of Salary; Bonus Clause in Contracts

Salary; Bonus. (a) As his compensation hereunder, Executive shall be paid by the Company a base salary of $500,000 per annum during the first 12 month period of the Term, with the compensation for each of the remaining 12 month periods to be determined by the Board of Directors but not to be less than his base compensation for the preceding twelve month period adjusted for the increase, if any, in the Consumer Price Index for the last month of the immediately preceding twelve month period. For this purpose the Consumer Price Index shall mean the Consumer Price Index U.S. City Average, All Items Figure for Urban Wage Earners and Clerical Workers, published by the Bureau of Labor Statistics of the U.S. Department of Labor, or any comparable Consumer Price Index which shall be subsequently published to supersede such designated Consumer Price Index. The base compensation shall be payable in equal biweekly installments. (b) The Company shall pay Executive a bonus within 30 days following the completion of the statement of income of the Company and its subsidiaries for the most recently completed fiscal year ending during the Term as audited by the independent public accounting firm selected by the Company to audit the consolidated financial statements of the Company and its subsidiaries equal to (i) 0.5% of the consolidated net revenues of the Company in excess of 2 $100,000,000, and (ii) 4% of the amount by which the Pre-tax Income for that year exceeds $20,000,000. Pre-tax Income shall mean the income of the Company and its subsidiaries before provision for applicable federal, state and local income taxes, all as determined in accordance with generally accepted accounting principles.

Salary; Bonus. (a) As his her compensation hereunder, Executive shall be paid by the Company a base salary of $500,000 425,000 per annum during the first 12 month period of the Term, with the compensation for each of the remaining 12 month periods to be determined by the Board of Directors but not to be less than his her base compensation for the preceding twelve month period adjusted for the increase, if any, in the Consumer Price Index for the last month of the immediately preceding twelve month period. For this purpose the Consumer Price Index shall mean the Consumer Price Index U.S. City Average, All Items Figure for Urban Wage Earners and Clerical Workers, published by the Bureau of Labor Statistics of the U.S. Department of Labor, or any comparable Consumer Price Index which shall be subsequently published to supersede such designated Consumer Price Index. The base compensation shall be payable in equal biweekly installments. (b) The Company shall pay Executive a bonus within 30 days following the completion of the statement of income of the Company and its subsidiaries for the most recently completed fiscal year ending during the Term as audited by the independent public accounting firm selected by the Company to audit the consolidated financial statements of the Company and its 2 subsidiaries equal to (i) 0.5% of the consolidated net revenues of the Company in excess of 2 $100,000,000, and (ii) 42.5% of the amount by which the Pre-tax Income for that year exceeds $20,000,000. Pre-tax Income shall mean the income of the Company and its subsidiaries before provision for applicable federal, state and local income taxes, all as determined in accordance with generally accepted accounting principles.

Salary; Bonus. (a) As his her compensation hereunder, Executive shall be paid by the Company a base salary of $500,000 425,000 per annum during the first 12 month period of the Term, with the compensation for each of the remaining 12 month periods to be determined by the Board of Directors but not to be less than his her base compensation for the preceding twelve month period adjusted for the increase, if any, in the Consumer Price Index for the last month of the immediately preceding twelve month period. For this purpose purpose, the Consumer Price Index shall mean the Consumer Price Index U.S. City Average, All Items Figure for Urban Wage Earners and Clerical Workers, published by the Bureau of Labor Statistics of the U.S. Department of Labor, or any comparable Consumer Price Index which shall be subsequently published to supersede such designated Consumer Price Index. The base compensation shall be payable in equal biweekly installments. (b) The Company shall pay Executive a bonus within 30 days following the completion of the statement of income of the Company and its subsidiaries for the most recently completed fiscal year ending during the Term as audited by the independent public accounting firm selected by the Company to audit the consolidated financial statements of the Company and its 2 subsidiaries equal to (i) 0.5% of the consolidated net revenues of the Company in excess of 2 $100,000,000, and (ii) 42.5% of the amount by which the Pre-tax Income for that year exceeds $20,000,000. Pre-tax Income shall mean the income of the Company and its subsidiaries before provision for applicable federal, state and local income taxes, all as determined in accordance with generally accepted accounting principles.

Salary; Bonus. (a) As his compensation hereunder, Executive shall be paid by the Company a base salary of $500,000 350,000 per annum during the first 12 month period of the Term, with the compensation for each of the remaining 12 month periods to be determined by the Board of Directors but not to be less than his base compensation for the preceding twelve month period adjusted for the increase, if any, in the Consumer Price Index for the last month of the immediately preceding twelve month period. For this purpose purpose, the Consumer Price Index shall mean the Consumer Price Index U.S. City Average, All Items Figure for Urban Wage Earners and Clerical Workers, published by the Bureau of Labor Statistics of the U.S. Department of Labor, or any comparable Consumer Price Index which shall be subsequently published to supersede such designated Consumer Price Index. The base compensation shall be payable in equal biweekly installments. (b) The Company shall pay Executive a bonus within 30 days following the completion of the statement of income of the Company and its subsidiaries for the most recently completed fiscal year ending during the Term as audited by the independent public accounting firm 2 selected by the Company to audit the consolidated financial statements of the Company and its subsidiaries equal to (i) 0.5% of the consolidated net revenues of the Company in excess of 2 $100,000,000, and (ii) 41.5% of the amount by which the Pre-tax Income for that year exceeds $20,000,000. Pre-tax Income shall mean the income of the Company and its subsidiaries before provision for applicable federal, state and local income taxes, all as determined in accordance with generally accepted accounting principles.

Salary; Bonus. (a) As his compensation hereunder, Executive shall be paid by the Company a base salary of $500,000 per annum during the first 12 month period of the Term, with the compensation for each of the remaining 12 month periods to be determined by the Board of Directors but not to be less than his base compensation for the preceding twelve month period adjusted for the increase, if any, in the Consumer Price Index for the last month of the immediately preceding twelve month period. For this purpose purpose, the Consumer Price Index shall mean the Consumer Price Index U.S. City Average, All Items Figure for Urban Wage Earners and Clerical Workers, published by the Bureau of Labor Statistics of the U.S. Department of Labor, or any comparable Consumer Price Index which shall be subsequently published to supersede such designated Consumer Price Index. The base compensation shall be payable in equal biweekly installments. (b) The Company shall pay Executive a bonus within 30 days following the completion of the statement of income of the Company and its subsidiaries for the most recently completed fiscal year ending during the Term as audited by the independent public accounting firm selected by the Company to audit the consolidated financial statements of the Company and its subsidiaries equal to (i) 0.5% of the consolidated net revenues of the Company in excess of 2 $100,000,000, and (ii) 4% of the amount by which the Pre-tax Income for that year exceeds $20,000,000. Pre-tax Income shall mean the income of the Company and its subsidiaries before provision for applicable federal, state and local income taxes, all as determined in accordance with generally accepted accounting principles.

Salary; Bonus. (a) As his compensation hereunder, Executive shall be paid by the Company a base salary of $500,000 350,000 per annum during the first 12 month period of the Term, with the compensation for each of the remaining 12 month periods to be determined by the Board of Directors but not to be less than his base compensation for the preceding twelve month period adjusted for the increase, if any, in the Consumer Price Index for the last month of the immediately preceding twelve month period. For this purpose the Consumer Price Index shall mean the Consumer Price Index U.S. City Average, All Items Figure for Urban Wage Earners and Clerical Workers, published by the Bureau of Labor Statistics of the U.S. Department of Labor, or any comparable Consumer Price Index which shall be subsequently published to supersede such designated Consumer Price Index. The base compensation shall be payable in equal biweekly installments. (b) The Company shall pay Executive a bonus within 30 days following the completion of the statement of income of the Company and its subsidiaries for the most recently completed fiscal year ending during the Term as audited by the independent public accounting firm completed fiscal year ending during the Term as audited by the independent public 2 accounting firm selected by the Company to audit the consolidated financial statements of the Company and its subsidiaries equal to (i) 0.5% of the consolidated net revenues of the Company in excess of 2 $100,000,000, and (ii) 41.5% of the amount by which the Pre-tax Income for that year exceeds $20,000,000. Pre-tax Income shall mean the income of the Company and its subsidiaries before provision for applicable federal, state and local income taxes, all as determined in accordance with generally accepted accounting principles.