Bonus and Stock Options. 3.1 Within 45 days of the end of each of the Company's fiscal years ending December 31 1997, 1998 and 1999, the Company shall pay the Executive a bonus equal to five percent (5%) of the Company's pre-tax profits for the fiscal year then ended, if the following conditions are met: (a) the Company's pre-tax profits for such fiscal year exceed one million dollars ($1,000,000); and (b) the Executive was employed by the Company for at least the first six (6) months of such 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".
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Sources: Employment Agreement (Galacticomm Technologies Inc), Employment Agreement (Galacticomm Technologies Inc)