Common use of Exclusive Bonus Clause in Contracts

Exclusive Bonus. Other than with respect to payment of merger consideration for shares of Common Stock, if any, held by Executive and payment for options, if any, held by Executive and cancelled in connection with the Company Sale Event, payment of the Stay Bonus shall be in lieu of any other bonus or other consideration payable by the Company to Executive arising from the Company Sale Event, including any change-in-control payment whether payable solely as a result of a Company Sale Event or similar transaction or termination of Executive’s employment or diminution of Executive’s responsibilities in connection with or within a specified period following consummation of a Company Sale Event or similar transaction.

Appears in 4 contracts

Samples: Stay Bonus Agreement (Wellco Enterprises Inc), Stay Bonus Agreement (Wellco Enterprises Inc), Stay Bonus Agreement (Wellco Enterprises Inc)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!