Common use of Exit Bonus Clause in Contracts

Exit Bonus. (a) Unless Employee shall have voluntarily terminated his employment for other than Good Reason within six months after the Effective Date and subject to the terms of Section 4.i., Employee will be entitled to a bonus (the "Exit Bonus") equal to the greater of (A) $1,400,000, if the Combined Two-Year EBITDA is equal to or greater than Target EBITDA, or (B) a percentage of the $1,400,000, equal to the percentage the Combined Two-Year EBITDA is of Target EBITDA (e.g., if the Combined Two-Year EBITDA amount is 65% of the Target EBITDA, then the Exit Bonus will be 65% of $1,400,000). (b) The Exit Bonus will be paid during the 60-day period beginning 30 days after the second annual anniversary of the Effective Date once the final Combined Two-Year EBITDA is calculated.

Exit Bonus. (a) Unless Employee shall have voluntarily terminated his employment for other than Good Reason within six months after the Effective Date and subject to the terms of Section 4.i., Employee will be entitled to a bonus (the "Exit Bonus") equal to the greater of (A) $1,400,000600,000, if the Combined Two-Year EBITDA is equal to or greater than Target EBITDA, or (B) a percentage of the $1,400,000600,000, equal to the percentage the Combined Two-Year EBITDA is of Target EBITDA (e.g., if the Combined Two-Year EBITDA amount is 65% of the Target EBITDA, then the Exit Bonus will be 65% of $1,400,000600,000). (b) The Exit Bonus will be paid during the 60-day period beginning 30 days after the second annual anniversary of the Effective Date once the final Combined Two-Year EBITDA is calculated.