Common use of Stay Bonus Clause in Contracts

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his employment hereunder for any reason (other than Good Reason), in each case prior to the second (2nd) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second (2nd) anniversary thereof, and the denominator of which shall be equal to 730. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 15,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his employment hereunder for any reason (other than Good Reason), in each case prior to the second (2nd) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second (2nd) anniversary thereof, and the denominator of which shall be equal to 730. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 40,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his employment hereunder for any reason (other than Good Reason), in each case prior to the second (2nd) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second (2nd) anniversary thereof, and the denominator of which shall be equal to 730. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 30,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his her employment hereunder for any reason (other than Good Reason), in each case prior to the second (2nd) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second (2nd) anniversary thereof, and the denominator of which shall be equal to 730. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 10,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his employment hereunder for any reason (other than Good Reason), in each case prior to the second first (2nd1st) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second first (2nd1st) anniversary thereof, and the denominator of which shall be equal to 730360. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 5,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his employment hereunder for any reason (other than Good Reason), in each case prior to the second (2nd) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second (2nd) anniversary thereof, and the denominator of which shall be equal to 730. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 60,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his employment hereunder for any reason (other than Good Reason), in each case prior to the second (2nd) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second (2nd) anniversary thereof, and the denominator of which shall be equal to 730. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.

Stay Bonus. If Employee remains an employee of Employer during the period beginning on the Effective Date and ending on the date that transactions provided for in the Merger Agreement are consummated, then Employer shall make a one-time cash payment to Employee in the amount of $120,000 10,000 (the “Stay Bonus”). If Employee is thereafter terminated For Cause or resigns or terminates his her employment hereunder for any reason (other than Good Reason), in each case prior to the second first (2nd1st) anniversary of the Effective Date, Employee shall immediately pay to Employer in cash that portion of the Stay Bonus equal to the product of the Stay Bonus multiplied by a fraction, the numerator of which shall be equal to the number of days remaining in the period beginning on the Effective Date and ending on the second first (2nd1st) anniversary thereof, and the denominator of which shall be equal to 730360. Employer reserves the right to offset, at its option, against any sums due Employer from Employee pursuant to this Section 10, any amounts which may otherwise be due from Employer to Employee.