Common use of Change in Control Bonus Clause in Contracts

Change in Control Bonus. Upon the occurrence of a Change in Control, as defined under the Company’s 2017 Incentive Compensation Plan (“2017 Plan”), the Executive shall be entitled to receive a lump sum payment equal to fifty percent (50%) of the Executive’s most recent annual salary, payable within thirty (30) days following the effective date of such Change in Control. Notwithstanding the foregoing, a Change in Control shall not occur unless such transaction constitutes a change in the ownership of the Company (including for purposes of this Section 4.4 all persons with whom the Company would be considered a single employer under Internal Revenue Code Section 409A), a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company’s assets under Section 409A.”

Change in Control Bonus. Upon the occurrence of a Change in Control, Control (as defined under in the Company’s 2017 Incentive Compensation Plan (“2017 Plan”), the Executive shall be entitled to receive a lump sum payment equal to fifty percent one (50%1) of the times Executive’s most recent annual salary, payable within thirty (30) days following the effective date of such Change in Control. Notwithstanding the foregoing, a Change in Control shall not occur unless such transaction constitutes a change in the ownership of the Company (including for purposes of this Section 4.4 all persons with whom the Company would be considered a single employer under Internal Revenue Code Section 409A), a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company’s assets under Section 409A.”

Change in Control Bonus. Upon the occurrence of a Change in Control, Control (as defined under in the Company’s 2017 Incentive Compensation Plan (“2017 Plan”), the Executive shall be entitled to receive a lump sum payment equal to fifty percent six (50%6) months of the Executive’s most recent annual salaryBase Salary in effect at the time of the Change in Control, payable within thirty (30) days following the effective date of such Change in Control. Notwithstanding the foregoing, a Change in Control shall not occur unless such transaction constitutes a change in the ownership of the Company (including for purposes of this Section 4.4 all persons with whom the Company would be considered a single employer under Internal Revenue Code Section 409A), a change in effective control of the Company, or a change in the ownership of a substantial portion of the Company’s assets under Section 409A.”