Common use of Change in Control Bonus Clause in Contracts

Change in Control Bonus. (i) During the Term, the Executive shall be entitled to a bonus payment in connection with the Change in Control of the Company (as defined below) (the “Change in Control Bonus”). The Change in Control Bonus for the Executive will be equal to two and one-half percent (2.5%) of the cash consideration received by the shareholders of the Company in the Change in Control transaction (minus any expenses, holdback provisions or other deductions from the purchase price), as determined in the sole discretion of the Board.

Change in Control Bonus. (i) During the Employment Term, and provided Executive is still employed by the Company, upon consummation of a Change in Control, in addition to any other payments or benefits applicable thereto under this Agreement, Executive shall be entitled to a bonus payment in connection with the Change in Control bonus equal to 25% of the Company his Annual Base Salary (as defined below) (the “Change in Control Bonus”). The Change Company may, in Control Bonus for the Executive will be equal to two and one-half percent (2.5%) its discretion, pay all or any portion of the bonus in a form of payment other than cash, to the extent such non-cash consideration form of payment is received by the Company and/or the shareholders of the Company in the connection with such Change in Control transaction (minus any expenses, holdback provisions or other deductions from the purchase price), as determined in the sole discretion of the BoardControl.

Change in Control Bonus. (a) Upon the Closing and subject to Executive being employed by the Company on the Closing, Executive will be eligible to receive a cash bonus payment, less applicable withholdings, equal to (i) During 100% of Executive’s annual base salary as in effect immediately prior to the TermChange in Control, plus (ii) 100% of Executive’s target bonus as in effect for the Executive shall be entitled to a bonus payment year in connection with which the Change in Control of the Company occurs (as defined below) (together, the “Change in Control BonusBonus Payment”). The Change in Control Bonus for the Executive will be equal to two and one-half percent (2.5%) of the cash consideration received by the shareholders of the Company in the Change in Control transaction (minus any expenses, holdback provisions or other deductions from the purchase price), as determined in the sole discretion of the Board.