Common use of TERMS OF THE PLAN Clause in Contracts

TERMS OF THE PLAN. The amount of the retention bonus that will be payable to you pursuant to the Plan shall be set forth in the award letter attached hereto as Appendix B. Your retention bonus will be payable in two installments over the Bonus Earn-Out Period. You must remain employed by the Company or the Parent on each installment date during the Bonus Earn-Out Period in order to receive the installment payable on that date except as provided under Part I hereof. The payout date for each installment during the Bonus Earn-Out Period and the percentage of your retention bonus which is to become due and payable on that date, provided you remain actively employed by the Company or the Parent, are as follows: Payment Date Percentage of Retention Bonus Payable ------------ ------------------------------------- Effective Date 0% First Anniversary of the Effective Date 50% Second Anniversary of the Effective Date 50%