Common use of Payment of Change in Control Bonus Clause in Contracts

Payment of Change in Control Bonus. Subject to clause (b) above, the Change in Control Bonus shall be payable on the date of the closing of a Change in Control. Unless the Board determines that the Change in Control Bonus is to be payable entirely in cash, Employee shall be paid the Change in Control Bonus in the same form (or forms) as consideration is otherwise payable to the securityholders of the Company in connection with such Change in Control; provided, however, that no less than fifty percent (50%) of the Change in Control Bonus shall be payable in the form of cash or securities that are publicly traded on a major U.S. stock exchange.