Common use of Earned and Accrued Bonus Clause in Contracts

Earned and Accrued Bonus. For purposes of this Agreement, with respect to “Earned and Accrued Bonus” payments to be made to the Executive in connection with the termination of his employment, annual bonus payments and Equity Compensation awards shall be deemed to be “earned and accrued” (a) if, with respect to annual bonus payments, the Executive is employed with the Company as of the date of the last day of the period in respect of which a bonus payment shall be made and, with respect to Equity Compensation awards, the Executive is employed with the Company as of the date such award vests; and (b) to the extent that the criteria or performance goals for determining the amount of such payment or award are objective and measurable criteria, and such objective and measurable criteria have been satisfied or achieved. Earned and Accrued Bonus specifically includes, without limitation, any cash payments or shares of the Company’s common stock payable to Executive in connection with any annual bonus compensation and Equity Compensation that is awarded and vested. A prorated portion of the Executive’s annual bonus will be paid in accordance with the termination provisions of this Agreement.

Earned and Accrued Bonus. For purposes of this Agreement, with respect to “Earned and Accrued Bonus” payments to be made to the Executive in connection with the termination of his her employment, annual bonus payments and Equity Compensation awards shall be deemed to be “earned and accrued” (a) if, with respect to annual bonus payments, the Executive is employed with the Company as of the date of the last day of the period in respect of which a bonus payment shall be made and, with respect to Equity Compensation awards, the Executive is employed with the Company as of the date such award vests; and (b) to the extent that the criteria or performance goals for determining the amount of such payment or award are objective and measurable criteria, and such objective and measurable criteria have been satisfied or achieved. Earned and Accrued Bonus specifically includes, without limitation, any cash payments or shares of the Company’s common stock payable to Executive in connection with any annual bonus compensation and Equity Compensation that is awarded and vested. A prorated portion of the Executive’s annual bonus will be paid in accordance with the termination provisions of this Agreement.