Third Tranche. If 1998 EBITDA exceeds the Cash Flow Target, ------------- subject to any Adjustments, by at least $3,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 32 1/2% of the excess (up to an excess amount of $1,000,000) of 1998 EBITDA above $83,500,000, 5% of which shall be payable to the Executive and 27 1/2% of which shall be payable to such other key employees of the Company as the Executive shall determine after consultation with the Chief Executive Officer of PCC.
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Samples: Employment Agreement (Price Communications Corp), Employment Agreement (Price Communications Wireless Inc)
Third Tranche. If 1998 EBITDA exceeds the Cash Flow Target, ------------- subject to any Adjustments, by at least $3,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 32 1/2% of the excess (up to an excess amount of $1,000,000) of 1998 EBITDA above $83,500,000, 5% of which shall be payable to the Executive President and 27 1/2% of which shall be payable to such other key employees of the Company Company, including the Executive, as the Executive President of the Company shall determine after consultation with the Chief Executive Officer of PCC.
Appears in 2 contracts
Samples: Employment Agreement (Price Communications Wireless Inc), Employment Agreement (Price Communications Corp)
Third Tranche. If 1998 EBITDA exceeds the Cash Flow Target, ------------- subject to any Adjustments, by at least $3,000,000, the Bonus Pool shall be entitled to receive a total cash bonus equal to 32 1/2321/2% of the excess (up to an excess amount of $1,000,000) of 1998 EBITDA above $83,500,000, 5% of which shall be payable to the Executive and 27 1/2271/2% of which shall be payable to such other key employees of the Company as the Executive shall determine after consultation with the Chief Executive Officer of PCC.
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