Common use of Bonus and Stock Options Clause in Contracts

Bonus and Stock Options. 3.1 Within 90 days after each fiscal year, the Compensation Committee (the "Committee") of the Board of Directors shall determine, in its sole and absolute discretion, the amount of the cash bonus, if any, to be paid to Executive for his services to the Company for the preceding fiscal year. In making its determination, the Committee shall consider all factors it deems relevant, including, but not limited to, the financial condition, results of operations and business of the Company and the efforts of the Executive in assisting the Company in achieving its strategic objectives for the preceding fiscal year. 3.2 The Company shall issue the Executive 720,000 options to purchase the Company's common stock, par value $0.0001 per share, in accordance with the terms of the Stock Option and Agreement attached hereto as Exhibit "A".