Common use of Quarterly Bonus Clause in Contracts

Quarterly Bonus. Executive will be entitled to a cash bonus of $12,500 per calendar quarter (the "Quarterly Bonus") payable within ten (10) days after the end of each calendar quarter occurring during the term of this Agreement, subject to the achievement during each of such quarters of the management business objectives ("MBOs") pertaining to the Company's business described in Exhibit A to this Agreement. If this Agreement should be terminated prior to the expiration of its term, the Quarterly Bonus shall be prorated through the date of termination and paid within ten (10) days after such date of termination, subject to achievement of the MBOs applicable to the quarter in which such termination takes place.