Word: bonusless
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Such consideration led to these modifications: i) Bonuses will be determined by Chairman Schwab and a committee of bonusless directors; 2) Bonuses will be computed after depreciation, must never exceed 8% of net income; 3) Officers hitherto on a "small salary," such as President Grace who last year received $12,000, will henceforth receive "normal salaries"; 4) Full publicity will be given all awards...
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