Common use of Transaction Bonus Clause in Contracts

Transaction Bonus. The Company shall pay the Employee a bonus equal to $300,000 (the "Transaction Bonus"); provided, however, that if the Company reasonably determines that the payment of such Transaction Bonus, together with the accelerated vesting of the Employee's stock options and restricted stock previously granted by the Company, may result in an excise tax under section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), the amount of such Transaction Bonus shall be reduced to the extent reasonably determined by the Company to be necessary or desirable to avoid such excise tax, and the amount of such reduction shall be mutually agreed to by the Company and the Employee prior to the Merger Date. The Transaction Bonus shall be paid to the Employee in a lump sum on the Merger Date. Notwithstanding the foregoing, the Company shall not be obligated to pay the Transaction Bonus if the Employee is not employed by the Company on the Merger Date.

Transaction Bonus. The Company shall pay the Employee a bonus equal to $300,000 (the "Transaction Bonus"); providedPROVIDED, howeverHOWEVER, that if the Company reasonably determines that the payment of such Transaction Bonus, together with the accelerated vesting of the Employee's stock options and restricted stock previously granted by the Company, may result in an excise tax under section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), the amount of such Transaction Bonus shall be reduced to the extent reasonably determined by the Company to be necessary or desirable to avoid such excise tax, and the amount of such reduction shall be mutually agreed to by the Company and the Employee prior to the Merger Date. The Transaction Bonus shall be paid to the Employee in a lump sum on the Merger Date. Notwithstanding the foregoing, the Company shall not be obligated to pay the Transaction Bonus if the Employee is not employed by the Company on the Merger Date.

Transaction Bonus. The Company shall pay the Employee a bonus equal to $300,000 700,000 (the "Transaction Bonus"); providedPROVIDED, howeverHOWEVER, that if the Company reasonably determines that the payment of such Transaction Bonus, together with the accelerated vesting of the Employee's stock options and restricted stock previously granted by the Company, may result in an excise tax under section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), the amount of such Transaction Bonus shall be reduced to the extent reasonably determined by the Company to be necessary or desirable to avoid such excise tax, and the amount of such reduction shall be mutually agreed to by the Company and the Employee prior to the Merger Date. The Transaction Bonus shall be paid to the Employee in a lump sum on the Merger Date. Notwithstanding the foregoing, the Company shall not be obligated to pay the Transaction Bonus if the Employee is not employed by the Company on the Merger Date.

Transaction Bonus. The Company shall pay the Employee a bonus equal to $300,000 700,000 (the "Transaction Bonus"); provided, however, that if the Company reasonably determines that the payment of such Transaction Bonus, together with the accelerated vesting of the Employee's stock options and restricted stock previously granted by the Company, may result in an excise tax under section 4999 of the Internal Revenue Code of 1986, as amended (the "Code"), the amount of such Transaction Bonus shall be reduced to the extent reasonably determined by the Company to be necessary or desirable to avoid such excise tax, and the amount of such reduction shall be mutually agreed to by the Company and the Employee prior to the Merger Date. The Transaction Bonus shall be paid to the Employee in a lump sum on the Merger Date. Notwithstanding the foregoing, the Company shall not be obligated to pay the Transaction Bonus if the Employee is not employed by the Company on the Merger Date.