Common use of Retention Bonus Clause in Contracts

Retention Bonus. Following the Effective Date and provided that the Executive has remained continuously employed by the Company as its Chairman and executive officer or, if applicable, of its successor or assignee from the Effective Date to the two year anniversary thereof (the “Retention Date”), then the Company shall pay the Executive by check or by federal funds wire transfer, within fifteen (15) days of the Retention Date, a cash bonus in the amount of One Million Five Hundred Thousand Dollars ($1,500,000) (a “Retention Bonus”). In no event will the Retention Bonus be paid to Executive, if he ceases to serve as either the Company’s or, if applicable, its successor’s or assignee’s Chairman or executive officer until the Retention Date for any reason, including, without limitation, the Executive’s death, disability, resignation or termination of his employment by the Company for any reason. Notwithstanding anything herein to the contrary, (i) the Executive is terminated without Cause or (ii) the Executive notifies the Company in writing that he has been assigned duties that are inconsistent with the duties typically assigned to other executive officers of the Company in similar positions (in the event that there are no officers of the Company serving in similar positions, then officers at comparable public companies) within thirty (30) days’ notice of such occurrence and the Company fails to remedy such occurrence within thirty (30) days of receipt of such written notice, then the Retention Bonus shall be immediately payable to the Executive within fifteen (15) days of such termination.

Retention Bonus. Following the Effective Date and provided Provided that the Executive has remained continuously employed by the Company as its Chairman President and executive officer or, if applicable, of its successor or assignee from the Effective Date to the two year anniversary thereof (the “Retention Date”)Date hereof, then the Company shall pay the Executive by check or by federal funds wire transfer, within fifteen (15) days of the Retention Date, a cash bonus in the amount of One Million Five Hundred Thousand Dollars ($1,500,0001,000,000) (a “Retention Bonus”). In no event will the Retention Bonus be paid to Executive, if he ceases to serve as either the Company’s or, if applicable, its successor’s or assignee’s Chairman or President and as an executive officer until the Retention Date for any reason, including, without limitation, the Executive’s death, disability, resignation or termination of his employment by the Company for any reason. Notwithstanding anything herein to the contrary, (i) the Executive is terminated without Cause or (ii) the Executive notifies the Company in writing that he has been assigned duties that are inconsistent with the duties typically assigned to other executive officers of the Company in similar positions (in the event that there are no officers of the Company serving in similar positions, then the officers at comparable public companies) within thirty (30) days’ notice of such occurrence and the Company fails to remedy such occurrence within thirty (30) days of receipt of such written notice, then the Retention Bonus shall be immediately payable to the Executive within fifteen (15) days of such termination.

Retention Bonus. Following the Effective Date and provided Provided that the Executive has remained continuously employed by the Company as its Chairman and executive officer or, if applicable, of its successor or assignee from the Effective Date to the two year anniversary thereof (the “Retention Date”)Date hereof, then the Company shall pay the Executive by check or by federal funds wire transfer, within fifteen (15) days of the Retention Date, a cash bonus in the amount of One Million Five Hundred Thousand Dollars ($1,500,000) (a “Retention Bonus”). In no event will the Retention Bonus be paid to Executive, if he ceases to serve as either the Company’s or, if applicable, its successor’s or assignee’s Chairman or executive officer until the Retention Date for any reason, including, without limitation, the Executive’s death, disability, resignation or termination of his employment by the Company for any reason. Notwithstanding anything herein to the contrary, (i) the Executive is terminated without Cause or (ii) the Executive notifies the Company in writing that he has been assigned duties that are inconsistent with the duties typically assigned to other executive officers of the Company in similar positions (in the event that there are no officers of the Company serving in similar positions, then officers at comparable public companies) within thirty (30) days’ notice of such occurrence and the Company fails to remedy such occurrence within thirty (30) days of receipt of such written notice, then the Retention Bonus shall be immediately payable to the Executive within fifteen (15) days of such termination.

Retention Bonus. Following the Effective Date and provided that the Executive has remained continuously employed by the Company as its Chairman President and executive officer or, if applicable, of its successor or assignee from the Effective Date to the two year anniversary thereof (the “Retention Date”)) hereof, then the Company shall pay the Executive by check or by federal funds wire transfer, within fifteen (15) days of the Retention Date, a cash bonus in the amount of One Million Five Hundred Thousand Dollars ($1,500,0001,000,000) (a “Retention Bonus”). In no event will the Retention Bonus be paid to Executive, if he ceases to serve as either the Company’s or, if applicable, its successor’s or assignee’s Chairman or President of Cytyc Surgical Products and as an executive officer until the Retention Date for any reason, including, without limitation, the Executive’s death, disability, resignation or termination of his employment by the Company for any reason. Notwithstanding anything herein to the contrary, (i) the Executive is terminated without Cause or (ii) the Executive notifies the Company in writing that he has been assigned duties that are inconsistent with the duties typically assigned to other executive officers of the Company in similar positions (in the event that there are no officers of the Company serving in similar positions, then the officers at comparable public companies) within thirty (30) days’ notice of such occurrence and the Company fails to remedy such occurrence within thirty (30) days of receipt of such written notice, then the Retention Bonus shall be immediately payable to the Executive within fifteen (15) days of such termination.