I looked at some numbers to determine what the average price of the stock has to be in December 2006 for Malcolm to get his bonus for this year. I took the closing price for the last 20 trading days in December 2005 and found the average to be: $0.7922---and 15% of that is $0.1188---totaled that would be $0.9110. Therefore, in order for Malcolm to earn a bonus for 2006, the stock would have to average a minimum of .9110 cents for the month of Dec. 2006.
Someone check my math please.
(b ) BONUS. The Employee shall be eligible to
receive a cash bonus each year during the Term hereof based upon the increase in
share price of the Company's stock as measured by comparing the twenty trading
day average for the period ending December 31 of the prior year versus the
twenty day trading average for the period ending December 31 of the year in
question, and multiplying the percentage increase in such share price, if any,
times the Employee's Base Compensation for the year in question; provided,
however, that in no event shall a bonus be payable unless the percentage
increase in share price is at least fifteen percent (15%) from the prior year's
period.
Date.........Close
12/30/05.....1.13
12/29/05.....1.04
12/28/05.....1.08
12/27/05.....0.93
12/23/05.....0.92
12/22/05.....0.84
12/21/05.....0.83
12/20/05.....0.799
12/19/05.....0.74
12/16/05.....0.7473
12/15/05.....0.73
12/14/05.....0.75
12/13/05.....0.74
12/12/05.....0.70
12/9/05......0.65
12/8/05......0.645
12/7/05......0.64
12/6/05......0.62
12/5/05......0.67
12/2/05......0.66
"If the facts don't fit the theory, change the facts."
