Common use of Executive Bonus Clause in Contracts

Executive Bonus. If the Company does not file a Registration Statement registering the resale of the Registrable Shares within one hundred eighty (180) days after the consummation of a Qualified Investment Transaction, other than as a result of the Commission being unable to accept such filing (a “Registration Default”), then, each of R. Xxxxxx Xxxxxx, Xxxxxxxxxxx X. Xxxxxxxx, R. Xxxxx Xxxxxxxxxx and Xxxxxxx X. Xxxxxx, if employed by the Company and owed a performance bonus, shall immediately forfeit 50%, and shall thereafter forfeit an additional 10% for each month the Registration Default continues, of any performance bonus that would otherwise be payable to him during that fiscal year (or to which he became entitled as a result of performance during that fiscal year), whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after that fiscal year. No bonuses, compensation, awards, equity compensation or other amounts shall be payable or granted in lieu of or to make Messrs. Taylor, Marshall, Xxxxxxxxxx and Posner whole for any such forfeited bonuses.

Executive Bonus. If the Company does not file a Registration Statement registering the resale of the Registrable Shares within one hundred eighty (180) days after the consummation of a Qualified Investment Transaction, other than as a result of the Commission being unable to accept such filing (a “Registration Default”), then, each of R. Xxxxxx Xxxxxx, Xxxxxxxxxxx Xxxxx X. Xxxxxxxx, R. Xxxxx Xxxxxxxxxx X. Xxxxxxxxxx, Xxxxxx X. Xxxxxxx and Xxxxxxx X. Xxxxxx Xxxxxx, if employed by the Company and owed a performance bonus, shall immediately forfeit 50%, and shall thereafter forfeit an additional 10% for each month the Registration Default continues, of any performance bonus that would otherwise be payable to him during that fiscal year (or to which he became entitled as a result of performance during that fiscal year), whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after that fiscal year. No bonuses, compensation, awards, equity compensation or other amounts shall be payable or granted in lieu of or to make Messrs. TaylorConnolly, MarshallFitzgerald, Xxxxxxxxxx Xxxxxxx and Posner Gaiter whole for any such forfeited bonuses.

Executive Bonus. Section 2(f) of the Registration Rights Agreement shall be replaced and as amended shall read in its entirety as follows: “If the Company does not file a Registration Statement registering the resale of the Registrable Shares within one hundred eighty (180) days after the consummation of a Qualified Investment Transactionbefore March 31, 2012, other than as a result of the Commission being unable to accept such filing (a “Registration Default”), then, each of R. Xxxxx X. Xxxxxxxxxx, Xxxxxx Xxxxxx, Xxxxxxxxxxx X. Xxxxxxxx, R. Xxxxx Xxxxxxxxxx Xxxxxxx and Xxxxxxx X. Xxxxxx Xxxxxx, if employed by the Company and owed a performance bonus, shall immediately forfeit 50%, and shall thereafter forfeit an additional 10% for each month the Registration Default continues, of any performance bonus that would otherwise be payable to him during that fiscal year (or to which he became entitled as a result of performance during that fiscal year), whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after that fiscal year. No bonuses, compensation, awards, equity compensation or other amounts shall be payable or granted in lieu of or to make Messrs. TaylorXxxxxxxxxx, Marshall, Xxxxxxxxxx Xxxxxxx and Posner Xxxxxx whole for any such forfeited bonuses.”