Common use of Relocation Bonus Clause in Contracts

Relocation Bonus. In consideration of Executive’s agreement to relocate to First Busey’s headquarters in Leawood, Kansas, Employer shall cause Executive to be paid a one-time relocation assistance payment of four hundred thousand dollars ($400,000.00) (the “Relocation Bonus” and collectively with the Signing Bonus, the “Initial Bonuses”). The Relocation Bonus will be payable to Executive in a lump sum, less all applicable withholdings and deductions, on the Initial Bonus Payment Date, subject to Executive’s continued employment through the Initial Bonus Payment Date, in accordance with the terms hereof, and subject to the repayment obligations set forth in Section 13. (g)

Relocation Bonus. In consideration of Executive’s agreement to relocate to First Busey’s headquarters in Leawood, Kansas, Employer shall cause Executive to be paid a one-time relocation assistance payment of four five hundred forty thousand dollars ($400,000.00540,000.00) (the “Relocation Bonus” and collectively with the Signing Bonus, the “Initial Bonuses”). The Relocation Bonus will be payable to Executive in a lump sum, less all applicable withholdings and deductions, on the Initial Bonus first payroll date administratively feasible following the Effective Date (the “Payment Date”), subject to Executive’s continued employment through the Initial Bonus Payment Date, in accordance with the terms hereof, and subject to the repayment obligations set forth in Section 134. (g)Section 4.