Common use of Closing Bonus Payments Clause in Contracts

Closing Bonus Payments. As soon as practicable after the Closing Date, the Surviving Corporation shall pay all payments that are payable by the Company to any of its employees as a result of the transactions contemplated by this Agreement, which payments shall be made by check and shall be net of applicable Federal and state withholding taxes. In connection with the payments described in the preceding sentence, the Surviving Corporation will incur additional expenses, including, without limitation, payroll taxes payable by the Company with respect to such payments. Notwithstanding anything contained herein to the contrary, the aggregate amount of payments made to employees and expenses incurred by the Surviving Corporation pursuant to this Section 10.8 shall not exceed $600,000 in the aggregate." (vii) ANNEX I to the Merger Agreement is hereby amended by deleting "Section 1.2(a)" and inserting in lieu thereof "Section 2.1(a)" at the end of each of the following definitions: (A) Maximum Closing Merger Consideration; (B) Merger Share Additional Amount(s); (C) Merger Share Number; (D) Per Allocated Share Additional Amount; (E) Per Allocated Share Closing Amount; (F) Per Merger Share Additional Amount; (G) Per Merger Share Closing Amount; and (H)