Common use of Deferral of Performance Bonuses Clause in Contracts

Deferral of Performance Bonuses. Notwithstanding anything else contained herein to the contrary, Executive may elect in writing on forms provided by the Company to receive the entire Performance Bonus in the form of restricted stock if Executive makes such election prior to December 31 of the fiscal year to which the Performance Bonus relates.

Appears in 6 contracts

Samples: Employment Agreement (Orbital Tracking Corp.), Employment Agreement (Orbital Tracking Corp.), Employment Agreement (Shearson Financial Network Inc)

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