Common use of Payment of Bonus Amounts Clause in Contracts

Payment of Bonus Amounts. Employer shall pay or cause to be paid to Executive the bonus amounts, if earned according to the terms and conditions set forth or referenced in this Agreement; provided that (unless provided otherwise in this Agreement) on the final day of the applicable measuring period for such bonus: (i) this Agreement is in full force and effect and has not been terminated for any reason (other than due to a material breach of this Agreement by Employer); and (ii) Executive is fully performing all of Executive’s material duties and obligations pursuant to this Agreement and is not in breach of any of the material terms and conditions of this Agreement (provided that Executive’s failure or inability to perform his duties and obligations because of his death or incapacity, including during leaves of absence permitted by law or applicable policy of Employer, shall not be considered a breach of this Agreement or non-performance under this provision). In addition, it is understood and agreed that Employer may, at its sole election, pay any bonus amounts earned by Executive pursuant to this Section 4 in cash or Common Stock; provided that the Common Stock evidencing any portion thereof is subject to any restrictions on resale under Employer’s xxxxxxx xxxxxxx policy and applicable federal and state law. In the event that Employer elects pursuant to this Section 4.2 to pay any Annual Bonus amounts in Common Stock, the percentage of such bonus amounts payable in Common Stock shall be consistent with, and the exact number of shares of Common Stock to be awarded to Executive shall be determined in the same manner as that utilized for other executive-level employees of Employer. Any Annual Bonus amounts earned by Executive pursuant to the terms and conditions of Section 4.1 shall be paid after the end of the calendar year for which the bonus is earned (but in no event later than one hundred and twenty (120) days after the end of such calendar year). Any and all bonus amounts payable by Employer to Executive pursuant to this Section 4 shall be subject to applicable taxes and withholdings as required by law. Notwithstanding any other provisions of this Agreement, any bonus pursuant to Section 4.1 shall be paid to Executive by the earlier of the date specified herein or the date that is no later than two-and-a-half months after the end of either Employer’s or Executive’s first taxable year (whichever period is longer) in which any such bonus is no longer subject to a substantial risk of forfeiture for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

Payment of Bonus Amounts. Employer shall pay or cause to be paid to Executive the bonus amounts, if earned according to the terms and conditions set forth or referenced in this Agreement; provided that (unless provided otherwise in this Agreement) on the final day of the applicable measuring period for such bonus: (i) this Agreement is in full force and effect and has not been terminated for any reason (other than due to a material breach of this Agreement by Employer); and (ii) Executive is fully performing all of Executive’s material duties and obligations pursuant to this Agreement and is not in breach of any of the material terms and conditions of this Agreement (provided that Executive’s failure or inability to perform his duties and obligations because of his death or incapacity, including during leaves of absence permitted by law or applicable policy of Employer, shall not be considered a breach of this Agreement or non-performance under this provision). In addition, it is understood and agreed that Employer may, at its sole election, pay any bonus amounts earned by Executive pursuant to this Section 4 in cash or Common StockShares; provided that the Common Stock Shares evidencing any portion thereof is are registered with the SEC on a then-effective Form S-8 or other applicable registration statement and are issued without restriction on resale (and further provided that the Shares are listed on a securities exchange, which does not include listing on the “pink sheets,” at the time of issuance), subject to any restrictions on resale under Employer’s xxxxxxx xxxxxxx policy and applicable federal and state law. In the event that Employer elects pursuant to this Section 4.2 4.3 to pay any Annual Bonus amounts in Common StockShares, the percentage of such bonus amounts payable in Common Stock Shares shall be consistent with, and the exact number of shares of Common Stock Shares to be awarded to Executive shall be determined in the same manner as as, that utilized for other executive-level employees of Employerthe Key Executive Group. Any Annual Bonus amounts earned by Executive pursuant to the terms and conditions of Section 4.1 4.2 shall be paid after the end of the calendar year Contract Year for which the bonus is earned (but in no event later than one hundred and twenty ninety (12090) days after the end of such calendar yearContract Year). Any and all bonus amounts payable by Employer to Executive pursuant to this Section 4 shall be subject to applicable taxes and withholdings as required by law. Notwithstanding any other provisions of this Agreement, any bonus pursuant to Section 4.1 4.2 shall be paid to Executive by the earlier of the date specified herein or the date that is no later than two-and-a-half months after the end of either Employer’s or Executive’s first taxable year (whichever period is longer) in which any such bonus is no longer subject to a substantial risk of forfeiture for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).

Payment of Bonus Amounts. Employer shall pay or cause to be paid to Executive the bonus amounts, if earned according to the terms and conditions set forth or referenced in this Agreement; provided that (unless provided otherwise in this Agreement) on the final day of the applicable measuring period for such bonus: (i) this Agreement is in full force and effect and has not been terminated for any reason (other than due to a material breach of this Agreement by Employer); and (ii) Executive is fully performing all of Executive’s material duties and obligations pursuant to this Agreement and is not in breach of any of the material terms and conditions of this Agreement (provided that Executive’s failure or inability to perform his duties and obligations because of his death or incapacity, including during leaves of absence permitted by law or applicable policy of Employer, shall not be considered a breach of this Agreement or non-performance under this provision). In addition, it is understood and agreed that Employer may, at its sole election, pay any bonus amounts earned by Executive pursuant to this Section 4 in cash or Common Stock; provided that the Common Stock evidencing any portion thereof is subject to any restrictions on resale under Employer’s xxxxxxx xxxxxxx policy and applicable federal and state law. In the event that Employer elects pursuant to this Section 4.2 4.3 to pay any Annual Bonus amounts in Common Stock, the percentage of such bonus amounts payable in Common Stock shall be consistent with, and the exact number of shares of Common Stock to be awarded to Executive shall be determined in the same manner as as, that utilized for other executive-level employees of Employer. Any Annual Bonus amounts earned by Executive pursuant to the terms and conditions of Section 4.1 4.2 shall be paid after the end of the calendar year for which the bonus is earned (but in no event later than one hundred and twenty (120) days after the end of such calendar year). Any and all bonus amounts payable by Employer to Executive pursuant to this Section 4 shall be subject to applicable taxes and withholdings as required by law. Notwithstanding any other provisions of this Agreement, any bonus pursuant to Section 4.1 4.2 shall be paid to Executive by the earlier of the date specified herein or the date that is no later than two-and-a-half months after the end of either Employer’s or Executive’s first taxable year (whichever period is longer) in which any such bonus is no longer subject to a substantial risk of forfeiture for purposes of Section 409A of the Internal Revenue Code of 1986, as amended (the “Code”).