The example below creates an entry in /etc/logadm.conf to manage the log /opt/bb/bbc/BBOUT. It tells logadm to keep four copies (-C 4) of the log file, BBOUT, naming them BBOUT.0, BBOUT.1, etc. as they are rotated. It also tells logadm to rotate the log file when it reaches 5 MB (-s 5m), to rotate the log file by copying it and truncating the original log file to zero length (-c), to compress old log files as they are created keeping none of the most recent log uncompressed (-z 0), and to write an entry in /etc/logadm.conf that corresponds to the current command line arguments (-w /opt/bb/bbc/BBOUT).
# logadm -C 4 -s 5m -c -z 0 -w /opt/bb/bbc/BBOUT
#
# tail -1 /etc/logadm.conf
/opt/bb/bbc/BBOUT -C 4 -c -s 5m -z 0