Common use of HEREBY AGREED AS FOLLOWS Clause in Contracts

HEREBY AGREED AS FOLLOWS. 1. Section 2.2(a) shall be modified to include the following additional sentence: “Unless the Board of Directors or its Compensation Committee establishes a separate plan for the payment of the Performance Bonus setting out the time of payment of such Performance Bonus, earned Performance Bonus will be paid in the fiscal year following the close of the applicable Bonus Year, on or about 2 1/2 months following completion of said Bonus Year.”