FISCAL YEAR 2005 CASH BONUS PLANEmployee Bonus Plan Agreement |
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Exhibit 10.20
Kopin Corporation Fiscal Year 2005 Cash Bonus Plan
1. Purpose and Effective Date. The purpose of the Kopin Corporation 2004 Cash Bonus Plan (this “Plan”) is to incentivize certain employees of Kopin Corporation, a Delaware corporation (the “Company”), in order to enhance the profitability of the Company. This Plan has been adopted by the Company as of December 27, 2004.
2. Participants; Cash Bonus Payments.
(a) The individuals eligible to participate in the Plan are those individuals listed on Schedule 1 attached hereto (the “Participants”).
(b) In the event that the Company’s Net Income (as defined below) for each of the third quarter and fourth quarter of the Company’s fiscal year ending December 31, 2005 (the “2005 Fiscal Year”) is greater than $0, each of the Participants shall be entitled to receive a cash bonus payment (each, a “Cash Bonus Payment”) from the Company in the amount set forth opposite each such Participant’s name on Schedule 1 attached hereto, payable to all Participants on the same date (the “Payment Date”) within 90 days of the end of the 2005 Fiscal Year and subject
