Common use of Prior Benefit Clause in Contracts

Prior Benefit. Component shall mean a number of shares of Company Stock equal to the Executive’s benefit under the Agreement as of December 11, 2009, divided by the Fair Market Value of Company Stock on December 11, 2009. For example, the Executive’s prior benefit under the terms of the Agreement on December 11, 2009 was $40,000 and the Fair Market Value of Company Stock on December 11, 2009 was $2.00. The Executive is deemed to have, for purposes of the Agreement, 20,000 shares of Company Stock ($40,000/$2.00) in the Prior Benefit Component.

Prior Benefit. Component shall mean a number of shares of Company Stock equal to the Executive’s 's benefit under the Agreement as of December 11, 2009, divided by the Fair Market Value of Company Stock on December 11, 2009. For example, the Executive’s 's prior benefit under the terms of the Agreement on December 11, 2009 was $40,000 and the Fair Market Value of Company Stock on December 11, 2009 was $2.00. The Executive is deemed to have, for purposes of the Agreement, 20,000 shares of Company Stock ($40,000/$2.00) in the Prior Benefit Component.

Prior Benefit. Component shall mean a number of shares of Company Stock equal to the Executive’s benefit under the Agreement as of December 11, 2009, divided by the Fair Market Value of Company Stock on December 11, 2009. For example, the Executive’s prior benefit under the terms of the Agreement on December 11, 2009 was $40,000 and the Fair Market Value of Company Stock on December 11, 2009 was $2.00. The Executive is deemed to have, for purposes of the Agreement, 20,000 shares of Company Stock ($40,000/$2.00) in the Prior Benefit Component.