Common use of Success Bonus Clause in Contracts

Success Bonus. Provided that either (i) the Executive continues his employment with the Company or an Affiliate during the Retention Period and remains employed by the Company or an Affiliate on the last day of the Retention Period, (ii) the Executive's employment is involuntarily terminated by the Company or the Affiliate during the Retention Period for reasons other than for death, disability, retirement under any retirement plan of the Company or an Affiliate, or Cause, as defined in Section 6(c), or (iii) the Executive's employment is voluntarily terminated by the Executive during the Retention Period for Good Reason, as defined in Section 6(d), then the Company shall pay the Executive a success bonus in an amount equal to $50,000. The success bonus shall be paid in a lump sum to the Executive as soon as practicable following the earlier of the events set forth in clause (i), (ii) or (iii) of the foregoing sentence, but in no event later than the first regular pay period following the last day of the Retention Period of the Company or the Affiliate employing the Executive. Nothing herein shall entitle the Executive to payment of any success bonus if the Executive's employment is terminated during the Retention Period by reason of death, disability, retirement under any retirement plan or voluntary termination (other than for Good Reason) or for Cause. The success bonus to be provided to the Executive under this Section 5(f) shall be in addition to, and not in lieu of, continuation of the Executive's Base Salary, participation in the Company's or an Affiliate's health, life, disability and other employee benefit plans, programs and arrangements, in accordance with the terms of such plans, programs and arrangements, and other perquisites of employment, as provided to him at the beginning of the Retention Period or as the same may be increased thereafter. For purposes of this Agreement, the Retention Period shall mean the period: (i) beginning on the date on which a Potential Change of Control occurs; and (ii) ending on the date on which a Change of Control occurs.

Success Bonus. Provided that either (i) the Executive continues his employment with the Company or an Affiliate during the Retention Period and remains employed by the Company or an Affiliate on the last day of the Retention Period, (ii) the Executive's employment is involuntarily terminated by the Company or the Affiliate during the Retention Period for reasons other than for death, disability, retirement under any retirement plan of the Company or an Affiliate, or Cause, as defined in Section 6(c), or (iii) the Executive's employment is voluntarily terminated by the Executive during the Retention Period for Good Reason, as defined in Section 6(d), then the Company shall pay the Executive a success bonus in an amount equal to $50,000100,000. The success bonus shall be paid in a lump sum to the Executive as soon as practicable following the earlier of the events set forth in clause (i), (ii) or (iii) of the foregoing sentence, but in no event later than the first regular pay period following the last day of the Retention Period of the Company or the Affiliate employing the Executive. Nothing herein shall entitle the Executive to payment of any success bonus if the Executive's employment is terminated during the Retention Period by reason of death, disability, retirement under any retirement plan or voluntary termination (other than for Good Reason) or for Cause. The success bonus to be provided to the Executive under this Section 5(f) shall be in addition to, and not in lieu of, continuation of the Executive's Base Salary, participation in the Company's or an Affiliate's health, life, disability and other employee benefit plans, programs and arrangements, in accordance with the terms of such plans, programs and arrangements, and other perquisites of employment, as provided to him at the beginning of the Retention Period or as the same may be increased thereafter. For purposes of this Agreement, the Retention Period shall mean the period: (i) beginning on the date on which a Potential Change of Control occurs; and (ii) ending on the date on which a Change of Control occurs.