Common use of SECOND RETENTION BENEFIT Clause in Contracts

SECOND RETENTION BENEFIT. In addition to the First Retention Bonus described above, the Company will pay you an additional retention bonus of $43,000 (the "Second Retention Bonus") if you remain continuously employed by the Company through June 30, 2004 (the "Second Retention Date"). In the event that the Company terminates your employment prior to the Second Retention Date, other than for cause, the Company will pay you the Second Retention Bonus. Payment of the Second Retention Bonus will be made within five days of the earlier of (i) the Second Retention Date or (ii) the date that the Company terminates your employment other than for cause. For purposes of this agreement, "cause" shall mean only seriously deficient performance which remains unremedied after counseling from your manager or serious misconduct.

SECOND RETENTION BENEFIT. In addition to the First Retention Bonus described above, the Company will pay you an additional retention bonus of $43,000 20,000 (the "Second Retention Bonus") if you remain continuously employed by the Company through June 30, 2004 (the "Second Retention Date"). In the event that the Company terminates your employment prior to the Second Retention Date, other than for cause, the Company will pay you the Second Retention Bonus. Payment of the Second Retention Bonus will be made within five days of the earlier of (i) the Second Retention Date or (ii) the date that the Company terminates your employment other than for cause. For purposes of this agreement, "cause" shall mean only seriously deficient performance which remains unremedied after counseling from your manager or serious misconduct.