Common use of Recognition Bonus Clause in Contracts

Recognition Bonus. 1. Subject to the terms and conditions described below, you will be eligible to receive a bonus equal to $171,000.00 (the “Recognition Bonus”). 2. The Recognition Bonus will be payable, in cash, in two equal installments, as follows: (a) fifty percent (50%) of the Recognition Bonus will be paid as soon as administratively feasible (but in no event later than thirty (30) days) following December 31, 2022, and (b) fifty percent (50%) of the Recognition Bonus will be paid as soon as administratively feasible (but in no event later than thirty (30) days) following March 31, 2023 (each of the payment events in subclauses (a) and (b), a “Payment Event”), in either case so long as you remain in active employment with the Company or its affiliates until the occurrence of the applicable Payment Event. 3. If your employment terminates for any reason prior to a Payment Event, it will be in the sole discretion of the Compensation Committee to determine whether you are eligible to receive any portion of the Recognition Bonus that has not already been paid, and unless otherwise determined by the Compensation Committee, you will have no entitlement to receive any such unpaid amounts. 4. The Recognition Bonus is subject to all applicable tax withholding requirements, as determined by the Company.

Recognition Bonus. 1. Subject to the terms and conditions described below, you will be eligible to receive a bonus equal to $171,000.00 163,000.00 (the “Recognition Bonus”). 2. The Recognition Bonus will be payable, in cash, in two equal installments, as follows: (a) fifty percent (50%) of the Recognition Bonus will be paid as soon as administratively feasible (but in no event later than thirty (30) days) following December 31, 2022, and (b) fifty percent (50%) of the Recognition Bonus will be paid as soon as administratively feasible (but in no event later than thirty (30) days) following March 31, 2023 (each of the payment events in subclauses (a) and (b), a “Payment Event”), in either case so long as you remain in active employment with the Company or its affiliates until the occurrence of the applicable Payment Event. 3. If your employment terminates for any reason prior to a Payment Event, it will be in the sole discretion of the Compensation Committee to determine whether you are eligible to receive any portion of the Recognition Bonus that has not already been paid, and unless otherwise determined by the Compensation Committee, you will have no entitlement to receive any such unpaid amounts. 4. The Recognition Bonus is subject to all applicable tax withholding requirements, as determined by the Company.