Common use of Incentive Bonus Payments Clause in Contracts

Incentive Bonus Payments. Buyer and Seller agree that the incentive bonus payments to be made to Xxxxxx X. Xxxxxxxx, pursuant to Section 4.e. of the Xxxxxxxx Employment Agreement attached as Exhibit A hereto, and to each of Xxxxx X. Xxxxxxxx, Xxxxxxx Xxxxx, Xxxxxxxx X. Xxxx, Xxxx Xxxxxxxxxxx, Xxxxxxxxxxx Xxxxxxx, Xxxx Xxxx and Xxxxxx Xxxxxxx, pursuant to Section 4.d. of the employment agreements to be entered into with such individuals in the form of Exhibit B hereto, shall be determined for each of the above-named individuals by Buyer's Compensation Committee, shall be paid in either cash or equity as determined by such Compensation Committee, shall be in the following aggregate amounts and shall be paid upon the achievement of each of the following milestones (which are set forth in the aforementioned agreements): (a) $150,000 upon the successful completion of Phase II studies for any compound under development in Discovery's portfolio (each a "Portfolio Compound"); (b) $500,000 upon the successful completion of Phase II studies for any Portfolio Compound; and (c) $1,000,000 upon receipt of marketing approval in the United States for any Portfolio Compound. The aforementioned bonuses shall be paid only once for each of the milestones.

Incentive Bonus Payments. Buyer and Seller agree that the incentive bonus payments to be made to Xxxxxx X. XxxxxxxxRobert J. Capetola, pursuant to Section 4.e. of the Xxxxxxxx Capetola Employment Agreement attached as Agxxxxxxx xxxxxxxx xs Exhibit A hereto, and to each of Xxxxx X. XxxxxxxxBrittain, Xxxxxxx XxxxxCynthia Davis, Xxxxxxxx X. XxxxLaurence B. Katz, Xxxx XxxxxxxxxxxLisa Mastroianni, Xxxxxxxxxxx Chrixxxxxxx Xxxxxxx, Huxx Xxxx Xxxx and Xxxxxx xxx Xhoxxx Xxxxxxx, pursuant xxxsuxxx xx Xxxxxxx 0.d. xx xxx xxxxxxxxxx axxxxxxxxx to Section 4.d. of the employment agreements to be entered into bx xxxxxxx xxxx with such individuals in the form of Exhibit B hereto, shall be determined for each of the above-named individuals by Buyer's Compensation Committee, shall be paid in either cash or equity as determined by such Compensation Committee, shall be in the following aggregate amounts and shall be paid upon the achievement of each of the following milestones (which are set forth in the aforementioned agreements): (a) $150,000 upon the successful completion of Phase II studies for any compound under development in Discovery's portfolio (each a "Portfolio Compound"); (b) $500,000 upon the successful completion of Phase II studies for any Portfolio Compound; and (c) $1,000,000 upon receipt of marketing approval in the United States for any Portfolio Compound. The aforementioned bonuses shall be paid only once for each of the milestones.