Common use of Separation Bonus Clause in Contracts

Separation Bonus. The Company shall pay the Executive one and a half (1.5) times the average of the Target Bonus (as defined in Section 2.2 of the Employment Agreement) the Executive received from the Company for all fiscal years completed during the term of the Employment Agreement, paid in installments on the Company’s normal payroll dates for a period of 12 consecutive months, with a schedule that complies with, or is exempt from, Section 409A, and with each payment deemed to be a separate payment for purposes of Section 409A.

Separation Bonus. The Company shall pay the Executive one and a half $1,967,793.00 (1.5representing two (2) times the average of the Target Incentive Bonus (as defined in Section 2.2 of the Employment Agreement) the Executive received from the Company for all fiscal years completed during the term of the Employment Agreement), paid in installments on the Company’s normal payroll dates for a period of 12 consecutive monthsmonths in accordance with Exhibit A, with a schedule that complies with, or is exempt from, Section IRS Code § 409A, and with each payment deemed to be a separate payment for purposes of Section IRS Code §409A.