**Exhibit 10.30**

 

**BONUS PLANDOCUMENT**

 
| **Subject:**         | Bonus Plan for** **the** **President &  CEO of Time America, Inc. |
|----------------------|-------------------------------------------------------------------------------------------|
|                 |                                                                                      |
| **Effective  Date:** | January 1, 2005                                                                      |

 

**General Information**

 

On                           , 2005,the compensation committee (the “Committee”) of the Board of Directors of TimeAmerica, Inc. (the “Company”) retroactively adopted an incentivecompensation plan (the “Plan”) for Thomas S. Bednarik for the fiscal yearending June 30, 2005 (“Fiscal 2005”). The Plan was subsequently adopted by the full Board of Directors of theCompany at the recommendation of the Committee. The Plan is an annual bonus plan that provides for the payment ofquarter cash bonus payments based on the achievement of specified forecastedquarterly revenue and net income objectives for Fiscal 2005.  The Plan also provides for option grantsbased on the achievement of such objectives.

 

**Participation Eligibility**

 

Mr. Bednarik is the onlyparticipant eligible for incentive compensation under the Plan.

 

**Maximum BonusPotential**

 

Mr. Bednarik may earnincentive compensation of up to U.S. $20,000 in the remaining two quarters ofFiscal 2005 ($10,000 per fiscal quarter) and options to purchase 40,000 sharesof common stock of the Corporation (20,000 per fiscal quarter), if theforecasted quarterly net sales revenue and operating income objectivesdescribed herein are met.

 

**MeasurementPeriod; Bonus Payments**

 

Mr. Bednarik shall beentitled to receive quarterly incentive compensation payments under the Planbased upon the achievement of the following forecasted quarterly net salesrevenue and operating income objectives (70% of such amount based onachievement of the Net Sales Revenue Target and 30% of such amount based on theachievement of Operating Income Target). Such payments, if any, shall be due and payable on the 20thday of the calendar month immediately following the end of a fiscal quarter.

 

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| ** **                | ** ** | **3rd Qtr 2005** | ** ** | **4th Qtr 2005** | ** ** |
|---------------------------|------------|------------------|------------|------------------|------------|
|                      |       |             |       |             |       |
| Net Sales Revenue Target: |       | $                | 1,612,067  |             | $          | 1,804,569 |   |
| Operating Income Target:  |       | $                | 273        |             | $          | <63,499 | >  |
|                           |            |                  |            |                  |            |  |  |  |

 

Payment of the above incentivecompensation shall be based on the following formulas:

 

**Net Sales Revenue Incentive Compensation Payable =**

 

Actual Net Sales Revenue/RevenueObjective = % of Revenue Objective Achieved

 

% ofRevenue Objective Achieved x $7,000

 

**Operating Income Compensation Payable =**

 

Actual Operating Income/OperatingIncome Objective = % of Net Income Objective Achieved

 

% ofOperating Income Objective Achieved x $3,000

 

Mr. Bednarik shall also beentitled to receive options to purchase up to 20,000 shares (or pro ratanumber) of common stock each fiscal quarter based on the achievement of theabove-referenced objectives.

 

In no event shall the incentivecompensation payable under this Plan exceed $10,000 (or 100% of the specifiedperformance objectives) in any fiscal quarter. Further, 90% of the sales revenue objective or operating incomeobjective, as the case may be, must be achieved in order to be eligible toreceive compensation under this Plan with respect to a specified performanceobjective.

 

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