Moving Assistance. The Company shall provide Executive with a five year, full recourse loan (the “Moving Assistance Loan”) in an original principal amount of $150,000 at an interest rate equal to the mid-term federal rate as defined in Section 1274 of the Internal Revenue Code. Interest shall accrue and shall be payable solely at the election of Executive. The Moving Assistance Loan documentation shall contain provisions for acceleration upon termination of employment by the Company with cause or upon termination by the Executive without good reason as specified below and for forgiveness on a pro-rata basis of the principal amount of the loan and all accrued interest on each anniversary of the Effective Date and full forgiveness in the event Executive remains continuously employed by the Company for five years, dies, becomes disabled, is terminated without cause or terminates his employment with good reason pursuant to Section 8.2(c).
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Moving Assistance. The Company shall provide Executive with a five ----------------- year, full recourse loan (the “"Moving Assistance Loan”") in an original principal amount of $150,000 at an interest rate equal to the mid-term federal rate as defined in Section 1274 of the Internal Revenue Code. Interest shall accrue and shall be payable solely at the election of Executive. The Moving Assistance Loan documentation shall contain provisions for acceleration upon termination of employment by the Company with cause or upon termination by the Executive without good reason as specified below and for forgiveness on a pro-rata basis of the principal amount of the loan and all accrued interest on each anniversary of the Effective Date and full forgiveness in the event Executive remains continuously employed by the Company for five years, dies, becomes disabled, is terminated without cause or terminates his employment with good reason pursuant to Section 8.2(c).
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