Common use of Completion Bonus Clause in Contracts

Completion Bonus. Except as provided below, on the condition that Executive remains employed by Employer, on a full-time, continuous basis, through February 29, 2012, Employer shall make a cash payment to Executive in the amount of $375,000 (the “Completion Bonus”). The Completion Bonus shall be paid to Executive within two (2) weeks after February 29, 2012. Notwithstanding the foregoing, if Executive’s employment is terminated prior to February 29, 2012 and such termination is: (a) due to Executive’s death, (b) on account of Executive’s incapacity pursuant to Section 11, (c) by Employer other than for Cause pursuant to Section 10, (d) by Executive for Good Reason pursuant to Section 10, or (e) due to a “Qualifying Termination” (as defined in the CIC Agreement) following a Change in Control, then Employer shall pay to Executive, within two (2) weeks after termination of his employment, a pro-rata portion of the Completion Bonus. Any pro-rated portion of the Completion Bonus shall be based upon the number of calendar days elapsed between the Effective Date and the date of termination divided by the total number of calendar days between the Effective Date and February 29, 2012.

Completion Bonus. Except as provided below, on the condition that Executive remains employed by Employer, on a full-time, continuous basis, through February 2928, 20122013, Employer shall make a cash payment to Executive in the amount of $375,000 350,000 (the “Completion Bonus”). The Completion Bonus shall be paid to Executive within two (2) weeks after February 2928, 20122013. Notwithstanding the foregoing, if Executive’s employment is terminated prior to February 2928, 2012 2013 and such termination is: (a) due to Executive’s death, (b) on account of Executive’s incapacity pursuant to Section 11, (c) by Employer other than for Cause pursuant to Section 10, (d) by Executive for Good Reason pursuant to Section 10, or (e) due to a “Qualifying Termination” (as defined in the CIC Agreement) following a Change in Control, then Employer shall pay to Executive, within two (2) weeks after termination of his employment, a pro-rata portion of the Completion Bonus. Any pro-rated portion of the Completion Bonus shall be based upon the number of calendar days elapsed between the Effective Date and the date of termination divided by the total number of calendar days between the Effective Date and February 2928, 20122013.