Summary of Registrant's 2nd Half 2006 Incentive Compensation Plan
This agreement outlines the 2nd Half 2006 Incentive Compensation Plan for the registrant's employees. Under the plan, participants are eligible for cash bonus awards if the company meets specific targets for revenue, EBITDA (excluding stock compensation charges), and cash flow during the second half of 2006. The total bonus pool is approximately $900,000, with individual awards ranging from 20% to 60% of each participant's base salary, depending on performance against the set targets.
Exhibit 10.5
Summary of Registrant’s 2nd Half 2006 Incentive Compensation Plan
The 2nd Half 2006 Incentive Compensation Plan provides certain target levels for second half 2006 revenue, EBITDA (excluding the effects of stock compensation charges) and cash flow which, if reached, would result in the payment of cash bonus awards (included in EBIDTA above) of approximately $900,000. The at risk cash bonus awards would range from 20% to 60% of each participant’s base salary.
