general economic conditions and a downturn in the architectural, engineering and construction industry
EX-10.4 2 f18426exv10w4.htm EXHIBIT 10.4 exv10w4
EXHIBIT 10.4
2005 Bonus Plan — Mark Legg
| 1. | Sarbanes Oxley 404 Compliance | |
| A bonus of $62,500 will be earned upon the completion, by December 31, 2005, of all the required documentation for ARC to be in compliance with SOX 404. | ||
| 2. | Internal Audit | |
| A bonus of $62,500 will be earned upon the completion, by December 31, 2005, of the internal audit action plan. | ||
| 3. | Cash Flow | |
| A bonus of $125,000 will be earned if the actual cash increase of the business during 2005 is at least equal to the following formula: |
| EBITDA | ||
| Less: |
| Cash interest | |||
| Cash taxes | |||
| Cash distributions | |||
| Cash acquisitions expenditures | |||
| Debt repayments | |||
| Capitalized IPO and debt finance expenditures | |||
| Other cash items not included in EBITDA to be approved by the CEO |
$100,000 of the bonus is to be paid on August 15, 2005 and the remainder on February 15, 2006.
Approved:
/s/ S. Chandramohan | ||
