Common use of Additional Incentive Compensation Clause in Contracts

Additional Incentive Compensation. For each year (twelve months) of the Term of this Agreement, Employee shall receive, as additional compensation, an incentive based on the Pre-tax Profit of S&A Purchasing Corp. and will be as follows: $ 320,000 $ 5,000 $ 350,000 $ 10,000 $ 380,000 $ 15,000 $ 400,000 $ 20,000 $ 450,000 $ 25,000 $500,000 and up $ 35,000 i) The Company may (but shall not be obligated to), at any time and from time to time, grant to the Employee an increase or increases in the incentive compensation, otherwise payable pursuant to this Section, but such increase or increases, if any, shall not be deemed to alter, modify, waive or otherwise affect any other term, covenant or condition of this Agreement. Any incentive due, pursuant to the terms of this paragraph, shall be paid by Company within 60 days of each anniversary of the Commencement Date, subject to audit adjustments. The incentive described above is exclusive and not additive, by way of example, if the pre-tax profit of the Company is $400,000, then the total incentive earned would be $20,000.