Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Bridgeway National Corp. 2020 Management Cash Incentive Bonus Plan
On September 24, 2020, the Board of Directors (the "Board") of Bridgeway
National Corp., a Delaware corporation, (the "Company") authorized a management
incentive bonus plan ("Cash Incentive Plan"), effective as of October 1, 2020,
under which participants of such plan are eligible to receive cash bonus awards
based on achievement by the Company of certain net growth target objectives. All
executive officers of the Company and other employees deemed eligible by the
compensation committee of the Board (the "Committee") shall be eligible to
participate in the Cash Incentive Plan. Pursuant to the Cash Incentive Plan, the
participation date for an eligible employee will be 90 days from the employee's
date of hire or the date the Committee deems the participant eligible to
participate in the Cash Incentive Plan. The Cash Incentive Plan provides for a
bonus pool, determined on an annual basis by the Committee, equal to 20% of the
amount by which the Company's book value for the applicable fiscal year exceeds
106% of book value for the preceding fiscal year (the "Incentive Compensation
Amount"). The Incentive Compensation Amount shall be subject to a high-water
mark.
The description of the Cash Incentive Plan is not complete and is qualified in
its entirety by reference to the full text of the Cash Incentive Plan, a copy of
which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is
incorporated herein by reference.
Bridgeway National Corp. 2020 Equity Incentive Plan
On September 24, 2020, the Board approved the adoption of the Bridgeway National
Corp. 2020 Equity Incentive Plan (the "Equity Plan") pursuant to which incentive
compensation and performance compensation awards may be provided to employees,
directors, officers and consultants of the Company or of its subsidiaries or
their respective affiliates. The Equity Plan authorizes the issuance of up to
40,500,000 shares of common stock, par value $0.001 per share, of the Company.
The description of the Equity Plan is not complete and is qualified in its
entirety by reference to the full text of the Cash Incentive Plan, a copy of
which is attached to this Current Report on Form 8-K as Exhibit 10.2 and is
incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Bridgeway National Corp. 2020 Management Cash Incentive Bonus Plan.
10.2 Bridgeway National Corp. 2020 Equity Incentive Plan.
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BRIDGEWAY NATIONAL CORP. 
