Common use of Written Statement Clause in Contracts

Written Statement. The Company shall deliver to the Executive ----------------- with each Annual Bonus payment a written statement setting forth the basis of its calculation of the Annual Bonus. The Executive and the Executive's independent representatives shall have the right, at the Executive's sole cost, one time per fiscal year, to inspect the records of the Company with respect to the calculations and to make copies of said records utilizing the Company's facilities without charge, and shall have free and full access thereto on reasonable notice during the normal business hours of the Company. In the event that such inspection reveals an underpayment by the Company of any Annual Bonus due the Executive, then the Company shall immediately pay to the Executive the balance of all such amounts found to be due. Further, if such inspection discloses that the Company has underpaid the Annual Bonus due for the period by ten percent (10%) or more, and the Executive is no longer employed by the Company, then the Company shall also pay the reasonable professional fees of the independent representatives engaged to conduct or review such inspection or audit.

Written Statement. The Company shall deliver to the ----------------- Executive ----------------- with each Annual Bonus payment a written statement setting forth the basis of its calculation of the Annual Bonus. The Executive and the Executive's independent representatives shall have the right, at the Executive's sole cost, one time per fiscal year, to inspect the records of the Company with respect to the calculations and to make copies of said records utilizing the Company's facilities without charge, and shall have free and full access thereto on reasonable notice during the normal business hours of the Company. In the event that such inspection reveals an underpayment by the Company of any Annual Bonus due the Executive, then the Company shall immediately pay to the Executive the balance of all such amounts found to be due. Further, if such inspection discloses that the Company has underpaid the Annual Bonus due for the period by ten percent (10%) or more, and the Executive is no longer employed by the Company, then the Company shall also pay the reasonable professional fees of the independent representatives engaged to conduct or review such inspection or audit.