Posted On: 10/10/2014 11:54:09 PM
Post# of 30067
JP, you posted:
For simplicity, assume the base salary is $225,000 per the new contract.
In addition to the Base Salary, Mr. Commisiong shall be eligible for a performance bonus of up to 35% of his Base Salary, which shall be based upon certain milestones set by the Company’s Board of Directors in their sole discretion.
35% of $225,000 = $78,750 (the full bonus payout) if all milestone target dates are met.
If only one of the four milestones are met, the bonus payout (rounded) would be either $11,813 or $19,688 or $23,625 depending on which single goal was met. So how does GC still earn the same bonus amount?
You must be referring to the $112,500 salary increase that would still go into effect if only one of the milestones (the NASDAQ uplist) is achieved.
Quote:I'm not following your reasoning here. If only 1 milestone is met, GC does NOT earn the same bonus % amount.
question: if 1 out of 4 milestones are obtained, does GC still earn that same bonus % amount
answer: you bettcha
For simplicity, assume the base salary is $225,000 per the new contract.
In addition to the Base Salary, Mr. Commisiong shall be eligible for a performance bonus of up to 35% of his Base Salary, which shall be based upon certain milestones set by the Company’s Board of Directors in their sole discretion.
35% of $225,000 = $78,750 (the full bonus payout) if all milestone target dates are met.
If only one of the four milestones are met, the bonus payout (rounded) would be either $11,813 or $19,688 or $23,625 depending on which single goal was met. So how does GC still earn the same bonus amount?
You must be referring to the $112,500 salary increase that would still go into effect if only one of the milestones (the NASDAQ uplist) is achieved.
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