- 20 - president remained his full-time job.4 Thus, any reduction in the hours he worked per week for petitioner must be balanced against his knowledge and experience in the industry and the valuable services he continued to render to petitioner during its 1990 fiscal year. In 1989 and 1990, Mr. Martin was instrumental in developing petitioner's Micro Clean 100 process for producing clean room labels. The resulting clean room labels were a technologically innovative, commercially promising, and potentially significantly profitable new product. Over the short period from early 1990, when development work on the labels' production process was completed, through June 30, 1990, petitioner had $32,639 in sales of the new labels. In June 1990, its directors anticipated the labels would contribute significantly to petitioner's profitability and financial success in future years. However, Mr. Martin's 1990 bonus of $722,913 is almost three times the size of his prior largest annual bonus of $250,000 for 1988. Indeed, on brief, petitioner acknowledges the 1990 bonus to be an "unusually high", "extraordinary one time" bonus. The record further fails to reflect that part of this 1990 fiscal year compensation was to remedy petitioner's alleged prior undercompensation of Mr. Martin. 4The parties stipulated that his being petitioner's president was a "full-time job".Page: Previous 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 Next
Last modified: May 25, 2011