Common use of Relocation Bonus Clause in Contracts

Relocation Bonus. The Company shall pay the Executive two hundred forty four thousand dollars ($244,000), payable in 12 monthly installments and subject to regular deductions and withholdings as required by law, with such monthly installments to commence within thirty days of his execution of this Agreement. If the Executive’s house located at ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Palm Coast, FL 32137 (the “Property”) has not been sold by the first anniversary of this Agreement, the Company shall pay the Executive fifteen thousand four hundred sixteen dollars and sixty six cents ($15,416.66) each month thereafter, for a period not to exceed twelve (12) months, if during such month the Executive has not sold the Property, subject to regular deductions and withholdings as required by law. The Executive shall not be eligible for any Annual Cash Incentive for a period as to which he receives a Relocation Bonus.

Relocation Bonus. The To the extent not already paid under the Old Agreement, the Company shall pay the Executive two hundred forty four thousand dollars ($244,000), payable in 12 monthly installments through October 2009 and subject to regular deductions and withholdings as required by law, with such monthly installments to commence within thirty days of his execution of this Agreement. If the Executive’s house located at ▇ ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, Palm Coast, FL 32137 (the “Property”) has not been sold by the first anniversary of this AgreementOctober 1, 2009, the Company shall pay the Executive fifteen thousand four hundred sixteen dollars and sixty six cents ($15,416.66) each month thereafter, for a period not to exceed twelve (12) months, if during such month the Executive has not sold the Property, subject to regular deductions and withholdings as required by law. The Executive shall not be eligible for any Annual Cash Incentive for a period as to which he receives a Relocation Bonus.