Common use of Completion Bonus Clause in Contracts

Completion Bonus. On the one-year anniversary of the Termination Date, the Company shall pay the Executive a lump sum completion bonus of $250,000, provided that all of the following conditions (A) through (D) are met: (A) The Executive remains employed by the Company for the full 12 month Term of this Agreement; and (B) The Executive continues in employment with the Company following the expiration of the Term; and (C) The Executive voluntarily resigns from his employment with the Company during the 12-month period immediately following the expiration of the Term on account of the material diminution of his duties by the Company which diminution is not cured by the Company within 15 days of the Executive’s providing written notice to the Company of such diminution; and (D) The Company and MSC determine, in their sole discretion, that the Executive did not breach any provision of the Confidentiality Agreement.

Completion Bonus. On the one-year anniversary of the Termination Date, the Company shall pay the Executive a lump sum completion bonus of $250,000, provided that all of the following conditions (A) through (D) are met: (A) The Executive remains employed by the Company for the full 12 month Term of this Agreement; and (B) The Executive continues in employment with the Company following the expiration of the Term; and (C) The Executive voluntarily resigns from his Executive’s employment with the Company is terminated by the Company without Cause during the 12-month period immediately following the expiration of the Term on account of the material diminution of his duties by the Company which diminution is not cured by the Company within 15 days of the Executive’s providing written notice to the Company of such diminutionTerm; and (D) The Company and MSC determine, in their sole discretion, that the Executive did not breach any provision of the Confidentiality Agreement.