Common use of Loyalty Bonuses Clause in Contracts

Loyalty Bonuses. New Spinco shall pay to each of the Core Employees designated by HC and agreed to by Acquiror, a loyalty bonus equal to 25% of the base annual salary for such employee for the period between the date hereof and either (a) the date of such employees' date of severance or (b) six months after the Effective Time, whichever such period is shorter. Acquiror shall reimburse New Spinco for any loyalty bonus paid pursuant to this Section 10.12 within 20 days from the date New Spinco makes such payment. Acquiror and New Spinco agree to treat any payment made to New Spinco pursuant to the preceding sentence as a reimbursement for loyalty payments made by New Spinco on behalf of Acquiror.

Loyalty Bonuses. New Spinco shall pay to each of the Core Employees designated by HC and agreed to by Acquiror, a loyalty bonus equal to 25% of the base annual salary for such employee for the period between the date hereof and either (ab) the date of such employees' date of severance or (bc) six months after the Effective Time, whichever such period is shorter. Acquiror shall reimburse New Spinco for any loyalty bonus paid pursuant to this Section 10.12 within 20 days from the date New Spinco makes such payment. Acquiror and New Spinco agree to treat any payment made to New Spinco pursuant to the preceding sentence as a reimbursement for loyalty payments made by New Spinco on behalf of Acquiror.