Common use of Reduction of Lease Liabilities Clause in Contracts

Reduction of Lease Liabilities. Twenty Five Percent (25%) of the Target Bonus Amount shall be earned at such time as the Company's (inclusive of its subsidiaries) total lease obligation or monthly lease expense ("Real Estate Expense") is reduced by not less than 70% compared with the Real Estate Expense on February 28, 2003 or, if the Company determines not to sell its Vidipax division pursuant to the plan approved by the Board and to occupy the space located at 000 X. 00xx Xxxxxx, not less than __% compared with the Real Estate Expense on February 28, 2003. This bonus will be paid in full to Executive upon execution of definitive agreements.

Reduction of Lease Liabilities. Twenty Five Percent (25%) of the Target Bonus Amount shall be earned at such time as the Company's (inclusive of its subsidiaries) total lease obligation or monthly lease expense ("Real Estate Expense") is reduced by not less than 70% compared with the Real Estate Expense on February 28, 2003 or, if the Company determines not to sell its Vidipax division pursuant to the plan approved by the Board and to occupy the space located at 000 X. 00xx Xxxxxx, not less than __60% compared with the Real Estate Expense on February 28, 2003. This bonus will be paid in full to Executive upon execution of definitive agreements.

Reduction of Lease Liabilities. Twenty Five Percent (25%) of the Target Bonus Amount shall be earned at such time as the Company's (inclusive of its subsidiaries) total lease obligation or monthly lease expense ("Real Estate Expense") is reduced by not less than 70% compared with the Real Estate Expense on February 28, 2003 or, if the Company determines not to sell its Vidipax division pursuant to the plan approved by the Board and to occupy the space located at 000 X. 00xx Xxxxxx, not less than __% compared with the Real Estate Expense on February 28, 2003. This bonus will be paid in full to Executive Consultant upon execution of definitive agreements.