Common use of Filing Date Bonus Clause in Contracts

Filing Date Bonus. If the Public Filing (as defined in Section 4(b)(ii)(D) above) occurs on or prior to the Public Filing Deadline (as defined in Section 4(b)(ii)(D) above), the Executive shall receive an additional lump sum cash payment from the Company equal to $300,000 (the “Filing Date Bonus”), to be paid as soon as practicable after the Public Filing, but in no event shall it be paid more than thirty (30) days thereafter. Executive’s eligibility for the bonus described in this section is subject to Executive’s continuing employment through the Public Filing, provided that if the Company terminates Executive’s employment with the Company without “Cause” or he resigns for “Good Reason” prior to the Public Filing, then Executive shall remain eligible to receive 50% of the Filing Date Bonus, subject to the Public Filing occurring on or prior to the Public Filing Deadline with such portion of the Filing Date Bonus to be paid at the same time as if the Executive had remained employed by the Company through the Public Filing.

Filing Date Bonus. If the Public Filing (as defined in Section 4(b)(ii)(D) above) occurs on or prior to the Public Filing Deadline (as defined in Section 4(b)(ii)(D) above), the Executive shall receive an additional lump sum cash payment from the Company equal to $300,000 200,000 (the “Filing Date Bonus”), to be paid as soon as practicable after the Public Filing, but in no event shall it be paid more than thirty (30) days thereafter. Executive’s eligibility for the bonus described in this section is subject to Executive’s continuing employment through the Public Filing, provided that if the Company terminates Executive’s employment with the Company without “Cause” or he resigns for “Good Reason” prior to the Public Filing, then Executive shall remain eligible to receive 50% of the Filing Date Bonus, subject to the Public Filing occurring on or prior to the Public Filing Deadline with such portion of the Filing Date Bonus to be paid at the same time as if the Executive had remained employed by the Company through the Public Filing.