PERFORMANCE BONUS AGREEMENT

Employee Bonus Plan Agreement

You are currently viewing:

This Employee Bonus Plan Agreement involves

MODERN MEDICAL MODALITIES CORP | Minesh Patel.

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.

Title: PERFORMANCE BONUS AGREEMENT
Date: 10/3/2006
Industry: RENTAL

Search Employee Bonus Plan Agreement by:

Prepared and filed by St Ives Financial

Exhibit 10.6

PERFORMANCE BONUS AGREEMENT

This PERFORMANCE BONUS AGREEMENT (“Agreement”), is made this 27th day of September, 2006, by and between Modern Medical Modalities Corporation, a New Jersey Corporation (“The Company”), and Minesh Patel.

The Company has established a plan for accelerated growth through mergers and acquisitions, and has decided that an experienced team be formed to increase the likelihood that its rapid growth plan will be achieved. The Company also realizes that cash bonus incentives are needed to reward each person on the team.

The Company desires to provide a performance based cash bonus allocation of $113,250 to Minesh Patel for serving on the merger and acquisition team, and the Company has set forth specific cash bonus performance and payment criteria below to be met in order to be paid the earned portion of the allocation.

Cash Bonus Performance and Payment Criteria:

	1.	$18,875 U.S. shall be paid to Minesh Patel upon his participation in and the successful completion of the Company achieving $3,850,000 in new revenues based upon business obtained through external business development combinations that includes mergers and acquisitions transactions. In the event that the Company decides to accept less than the $3,850,000 in revenues (1^st alternate revenues) as part of a merger or acquisition, or other acceptable business combination transaction, the cash bonus shall be pro-rated by multiplying $18,875 U.S. by the percentage equal to the 1^st alternate revenues divided by $3,850,000.

$18,875 U.S. shall be paid to Minesh Patel upon his participation in and the successful completion of the Company achieving the

This is only a partial view of this document. We have millions of legal documents and clauses drafted by top law firms.