Heckmann Corporation $15 Million Bonus Plan for Fiscal Year 2009
Heckmann Corporation has established a $15 million bonus pool for company officers if the company's net income for the fiscal year ending December 31, 2009, meets or exceeds $90 million, with certain adjustments. Hong Bin Xu will recommend how the bonus pool is distributed among eligible officers, including himself. Bonuses may be paid in cash or stock, at the company's discretion, and will be paid within 10 business days after the company files its annual report for 2009.
Exhibit 10.25
$15 MILLION BONUS PLAN
The Bonus Pool will consist of $15 million dollars if net income for the fiscal year ending December 31, 2009 equals or exceeds $90 million dollars, as adjusted for stock compensation and expenses of the office of Chairman of Heckmann Corporation, the bonuses themselves, and certain contingent payments.
Hong Bin Xu will determine and recommend to Heckmann Corporation the amount each participating company officer, including himself, will receive from the Bonus Pool. Any bonus under this plan will be paid in cash or stock in the sole discretion of Heckmann Corporation. Any bonus under this plan will be payable within 10 business days after the filing of the Heckmann Corporation Form 10-K for the period ending December 31, 2009.
