SPECIAL INITIAL COMPENSATION Sample Clauses

SPECIAL INITIAL COMPENSATION. (a) SIGNING BONUS. Company shall pay Executive $200,000 in cash under the following payment terms: Promptly after Execution of this Agreement $100,000 First Anniversary of Start Date $50,000 Second Anniversary of Start Date $50,000 Executive shall be required to return the following indicated amounts to the Company upon the termination of his employment (i) by the Company for Cause or (ii) by the Executive for any reason other than Death, Disability or Good Reason prior to the indicated respective dates. Second Anniversary of Start Date $100,000 Third Anniversary of Start Date $50,000 Fourth Anniversary of Start Date $50,000.