Common use of Bank Covenant Compliance Bonus Clause in Contracts

Bank Covenant Compliance Bonus. The Executive shall be paid a compliance bonus (the "Bank Covenant Compliance Bonus"), equal to ten percent (10%) of the Executive's annual base salary, if the Company is in compliance with all financial and other covenants (collectively, the "New Credit Facility Covenants") contained in the credit agreement to be entered into on or about September 30, 2000 among the Company, the Bank of Montreal, as Agent, and the other lenders a party thereto (the "New Credit Agreement"), which New Credit Agreement will memorialize the refinancing of the Vision 21 credit facility in existence as of the Effective Date. An amount equal to Two and one-half percent (2 1/2%) of the Bank Covenant Compliance Bonus shall be paid to the Executive for each fiscal quarter during which the Company maintained compliance with the New Credit Facility Covenants. Each quarterly payment shall be made to the Executive within ten (10) days of the delivery by the Company's Chief Financial Officer to the banks which are a party to the New Credit Agreement (collectively, the "Banks") of the compliance certificate required under the New Credit Agreement.

Bank Covenant Compliance Bonus. The Executive shall be paid a compliance bonus (the "Bank Covenant Compliance Bonus"), equal to ten percent (10%) of the Executive's annual base salary, if the Company is in compliance with all financial and other covenants (collectively, the "New Credit Facility Covenants") contained in the credit agreement to be entered into on or about September 30, 2000 among the Company, the Bank of Montreal, as Agent, and the other lenders a party thereto (the "New Credit Agreement"), which New Credit Agreement will memorialize the refinancing of the Vision 21 credit facility in existence as of the Effective Date. An amount equal to Two and one-half percent (2 1/2%) of the Bank Covenant Compliance Bonus shall be paid to the Executive for each fiscal quarter during which the Company maintained compliance with the New Credit Facility Covenants. Each quarterly payment shall be made to the Executive within ten (10) days of the delivery by the Company's Chief Financial Officer to the banks Banks which are a party to the New Credit Agreement (collectively, the "Banks") of the compliance certificate required under the New Credit Agreement.