Common use of Completion Payment Clause in Contracts

Completion Payment. Subject to the terms and conditions set forth herein, you will receive a Completion Payment in the amount of $2,325,000 (the “Completion Payment”), (with such deductions for tax purposes as may be required pursuant to Section 5 hereof), subject to the Company’s receipt of your countersignature on this Amendment. Except as set forth in the next sentence, you agree that in the event your employment with the Company terminates for any reason (a “Termination”) before the Completion Date, you will be required to repay to the Company within ten (10) days of such termination 100% of the After-Tax Value of the Completion Payment. Notwithstanding the foregoing, in the event the Company terminates your employment for any reason other than Cause or your employment terminates due to your death or Disability, in each case, before the Completion Date (a “Qualifying Termination”) and you execute and do not revoke a customary release of claims in a form reasonably satisfactory to the Company, you will not be required to repay to the Company any portion of the Completion Payment.