Common use of Change of Control Bonus Clause in Contracts

Change of Control Bonus. Upon the effectiveness of the Merger, under the Executive's existing Change of Control Bonus Agreement and in accordance with the terms thereof, the Executive shall receive a one-time Change of Control Bonus (as such term is defined therein) in the amount of $65,333, in addition to the Restricted Shares (as such term is defined in the Shareholders Agreement) to be issued to the Executive pursuant to the Shareholders Agreement, and, immediately thereafter, the Change of Control Bonus Agreement shall terminate and be of no further force and effect.

Appears in 2 contracts

Samples: Employment Agreement (Southern Bottled Water Co Inc), Employment Agreement (Southern Bottled Water Co Inc)

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Change of Control Bonus. Upon the effectiveness of the Merger, under the Executive's existing Change of Control Bonus Agreement and in accordance with the terms thereof, the Executive shall receive a one-time Change of Control Bonus (as such term is defined therein) in the amount of $65,333185,000, in addition to the Restricted Shares (as such term is defined in the Shareholders Agreement) to be issued to the Executive pursuant to the Shareholders Agreement, and, immediately thereafter, the Change of Control Bonus Agreement shall terminate and be of no further force and effect.

Appears in 1 contract

Samples: Employment Agreement (Southern Bottled Water Co Inc)

Change of Control Bonus. Upon the effectiveness of the Merger, under the Executive's existing Change of Control Bonus Agreement and in accordance with the terms thereof, the Executive shall receive a one-time Change of Control Bonus (as such term is defined therein) in the amount of $65,333156,000, in addition to the Restricted Shares (as such term is defined in the Shareholders Agreement) to be issued to the Executive pursuant to the Shareholders Agreement, and, immediately thereafter, the Change of Control Bonus Agreement shall terminate and be of no further force and effect.

Appears in 1 contract

Samples: Employment Agreement (Southern Bottled Water Co Inc)

Change of Control Bonus. Upon the effectiveness of the Merger, under the Executive's existing Change of Control Bonus Agreement and in accordance with the terms thereof, the Executive shall receive a one-time Change of Control Bonus (as such term is defined therein) in the amount of $65,333150,000, in addition to the Restricted Shares (as such term is defined in the Shareholders Agreement) to be issued to the Executive pursuant to the Shareholders Agreement, and, immediately thereafter, the Change of Control Bonus Agreement shall terminate and be of no further force and effect.

Appears in 1 contract

Samples: Employment Agreement (Southern Bottled Water Co Inc)

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Change of Control Bonus. Upon the effectiveness of the Merger, under the Executive's existing Change of Control Bonus Agreement and in accordance with the terms thereof, the Executive shall receive a one-time Change of Control Bonus (as such term is defined therein) in the amount of $65,333630,000, in addition to the Restricted Shares (as such term is defined in the Shareholders Agreement) to be issued to the Executive pursuant to the Shareholders Agreement, and, immediately thereafter, the Change of Control Bonus Agreement shall terminate and be of no further force and effect.

Appears in 1 contract

Samples: Employment Agreement (Southern Bottled Water Co Inc)

Change of Control Bonus. Upon the effectiveness of the Merger, under the Executive's existing Change of Control Bonus Agreement and in accordance with the terms thereof, the Executive shall receive a one-time Change of Control Bonus (as such term is defined therein) in the amount of $65,333371,250, in addition to the Restricted Shares (as such term is defined in the Shareholders Agreement) to be issued to the Executive pursuant to the Shareholders Agreement, and, immediately thereafter, the Change of Control Bonus Agreement shall terminate and be of no further force and effect.

Appears in 1 contract

Samples: Employment Agreement (Southern Bottled Water Co Inc)

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