Common use of Monthly Bonus Payments Clause in Contracts

Monthly Bonus Payments. On the next regular payroll date following the final day of each month after December 31, 2008, you shall receive an amount equal to 1/36th of the Total Bonus Amount, less applicable withholdings for federal, state and local taxes (each, a “Monthly Bonus Payment”), until such time as you have received Bonuses in the aggregate under this Agreement of a gross amount equal to the Total Bonus Amount.

Monthly Bonus Payments. On the next regular payroll date following the final day of each month after December 31, 2008, you shall receive an amount equal to 1/36th 1/48th of the Total Bonus Amount, less applicable withholdings for federal, state and local taxes (each, a “Monthly Bonus Payment”), until such time as you have received Bonuses in the aggregate under this Agreement of a gross amount equal to the Total Bonus Amount.