Testado e funcionando:
#/bin/bash
sleeptime=1
countsleeps=1
maxcount=8
while read i
do
~/bin/submit_job $i
sleep $sleeptime
let countsleeps++
if ((countsleeps>maxcount))
then
countsleeps=1
let sleeptime*=2
if ((sleeptime>2)) ; then let maxcount*=2 ; fi
fi
done