Common use of Relocation Bonus Clause in Contracts

Relocation Bonus. The Company will pay Executive a one-time relocation bonus in the gross amount of $100,000, plus a one-time gross up of this bonus amount for tax purposes (the bonus plus the gross-up, the “Relocation Bonus”). If during the Initial Term, Executive (i) is Discharged for Cause or (ii) resigns his employment under circumstances that are not a Termination for Good Reason, then Executive will be obligated to repay the entire Relocation Bonus and, by Executive’s signature below, Executive authorizes the Company to withhold the amount due, in whole or in part, from any final wages, compensation, bonus, accrued vacation, or other payment due to Executive upon termination.

Relocation Bonus. The Company will pay Executive a one-time relocation bonus in the gross amount of $100,00075,000, plus a one-time gross up of this bonus amount for tax purposes (the bonus plus the gross-up, the “Relocation Bonus”). If during the Initial Term, Executive (i) is Discharged for Cause or (ii) resigns his employment under circumstances that are not a Termination for Good Reason, then Executive will be obligated to repay the entire Relocation Bonus and, by Executive’s signature below, Executive authorizes the Company to withhold the amount due, in whole or in part, from any final wages, compensation, bonus, accrued vacation, or other payment due to Executive upon termination.