Common use of Project Completion Bonus Clause in Contracts

Project Completion Bonus. In addition to the Annual Services Fee, subject to the Consultant’s performance in all material respects of the Services through the Project Completion Date, Novartis Pharma shall pay the Consultant a project completion bonus in a single cash lump sum of U.S. $1 million as soon as practicable (but in no event later than 60 days) following the Project Completion Date (the “Project Completion Bonus”). If the Consultant, at his own initiation, ceases to provide the Services and the Agreement is, as a result, terminated prior to the Project Completion Date, the Consultant will forfeit all rights to the Project Completion Bonus. If the Consultant, at the initiation of Novartis Pharma, ceases to provide the Services and the Agreement is, as a result, terminated prior to the Project Completion Date, Novartis Pharma shall pay the Consultant the Project Completion Bonus as soon as practicable (but in no event later than 60 days) following the end of the Term.

Project Completion Bonus. In addition to the Annual Services Fee, subject to the Consultant’s performance in all material respects of the Services through the Project Completion Date, Novartis Pharma shall pay the Consultant a project completion bonus in a single cash lump sum of U.S. $1 million CHF 892,800 as soon as practicable (but in no event later than 60 days) following the Project Completion Date (the “Project Completion Bonus”). If the Consultant, at his own initiation, ceases to provide the Services and the Agreement is, as a result, terminated prior to the Project Completion Date, the Consultant will forfeit all rights to the Project Completion Bonus. If the Consultant, at the initiation of Novartis Pharma, ceases to provide the Services and the Agreement is, as a result, terminated prior to the Project Completion Date, Novartis Pharma shall pay the Consultant the Project Completion Bonus as soon as practicable (but in no event later than 60 days) following the end of the Term.