Common use of Future Compensation Clause in Contracts

Future Compensation. The Company will not use the funds obtained hereunder for (i) paying any accrual or arrangement for or payment of bonuses or special compensation of any kind or any severance or termination pay to any present or former officer or employee; (ii) paying any increase in the rate of compensation payable or to become payable by it to any of its officers or directors or any of its employees whose monthly compensation exceeds $4,000; or (iii) paying any increase in any profit-sharing, bonus, deferred compensation, insurance, pension, retirement, or other employee benefit plan, payment, or arrangement made to, for, or with their officers or directors;