least 3.0%,
effective the first day of each calendar year.
REVENUE BONUS
Executive has a target revenue bonus compensation of $50,000.00 ("Target Revenue
Bonus") during FY2004.
The quarterly revenue bonus ("Quarterly Revenue Bonus")
will be determined by the following formula:
Actual Company
Quarterly Revenue
X
Target Revenue Bonus
=
Quarterly Revenue Bonus
Annual Company
Revenue Goal
For FY2004, the Annual Company Revenue Goal equals $62,966,234.
The Quarterly
Revenue Bonus shall be paid quarterly, within 45 days after the end of each
quarter.
EBITA BONUS
Executive has a target revenue bonus compensation of $50,000.00 ("Target EBITA
Bonus") during FY2004.
The annual EBITA bonus ("Annual EBITA Bonus") will be
determined by the following formula:
Actual Company
Annual EBITA
X
Target EBITA Bonus
=
Annual EBITA Bonus
Annual Company
EBITA Goal
For FY2004, the Annual Company EBITA Goal equals $1,297,501.
EBITA Percentage
is defined as Actual Company Annual EBITA divided by Annual Company EBITA Goal.
If the EBITA Percentage is above 120%, Executive will be paid Target EBITA Bonus
multiplied by 120%.
No bonus will be paid if the EBITA Percentage is less than
80%.
The Annual EBITA Bonus shall be paid annually, upon completion of the
annual company audit.