Common use of One-Time Bonus Clause in Contracts

One-Time Bonus. The Company has paid the Executive a bonus of One Hundred Fifty Thousand Dollars ($150,000) (the "Signing Bonus"). If Executive's employment with the Company is terminated prior to the first anniversary of the Effective Date pursuant to either Section 4.1.3 or Section 4.1.5, Executive hereby authorizes the Company to deduct the amount of the Signing Bonus from monies otherwise due to him and to the extent that the bonus is not so repaid in full, he agrees to pay the remaining amount to the Company within 60 days after the effective date of the termination of his employment.

Appears in 2 contracts

Samples: Executive Employment Agreement, Executive Employment Agreement (Avid Technology, Inc.)

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One-Time Bonus. The On January 7, 2008, the Company has paid the shall pay Executive a bonus of One Six Hundred Fifty Thousand Dollars ($150,000) (the "Signing Bonus"600,000), net of applicable taxes and withholding. If Executive's ’s employment with the Company is terminated prior to the first anniversary of the Effective Date pursuant to either Section 4.1.3 or Section 4.1.5, Executive hereby authorizes the Company to deduct the amount of the Signing Bonus such bonus from monies otherwise due to him and to the extent that the bonus is not so repaid in full, he agrees to pay the remaining amount to the Company within 60 days after the effective date of the termination of his employment.

Appears in 2 contracts

Samples: Executive Employment Agreement (Avid Technology Inc), Executive Employment Agreement (Avid Technology, Inc.)

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One-Time Bonus. The On the Effective Date, the Company has paid the shall pay Executive a bonus of One Four Hundred Fifty Thirty-Five Thousand Dollars ($150,000435,000) (the "Signing Bonus"). If Executive's ’s employment with the Company is terminated prior to the first anniversary of the Effective Date pursuant to either Section 4.1.3 or Section 4.1.5, Executive hereby authorizes the Company to deduct the amount of the Signing Bonus from monies otherwise due to him and to the extent that the bonus is not so repaid in full, he agrees to pay the remaining amount to the Company within 60 days after the effective date of the termination of his employment.

Appears in 1 contract

Samples: Executive Employment Agreement (Avid Technology, Inc.)

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