Playing with some alterations to plop it into my workflow.

html5video.sh

#!/bin/sh                        

####################################
#  Output file for HTML5 video    #
#  Requirements:                  #
#    - handbrakecli               #
#    - ffmpeg                     #
#    - ffmpeg2theora              #
#                                 #
#  usage:                         #
#   ./html5video.sh infile.mp4    #
#                                 #
###################################

target_directory='converted'
file=`basename $1`
filename=${file%.*}
filepath=`dirname $1`
destination="$filepath/$target_directory"

if ! test -d "$destination"
then
	mkdir $destination
fi

HandBrakeCLI -i $1 -o $destination/$filename.mp4 --encoder x264 --vb 900 --ab 128 --optimize --two-pass --turbo
ffmpeg2theora $destination/$filename.mp4
mv $destination/$filename.ogv $destination/$filename.ogg
ffmpeg -i $destination/$filename.mp4 -acodec libvorbis -vcodec libvpx $destination/$filename.webm