Signing Payment. Executive shall be entitled to an amount equal to $1,187,500 as and for a signing bonus from the Company (“Signing Payment”). The Signing Payment shall be fully earned upon the Effective Date, but shall be payable in two (2) equal installments on each of the Effective Date and the first (1st) anniversary of the Effective Date, regardless of whether Executive is still employed by the Company as of such payment date. Thus, upon a termination of employment for any reason, Executive shall continue to be entitled to receive, in addition to any other payment due to Executive pursuant to Section 5 hereof, the unpaid portion of the Signing Payment on the first (1st) anniversary of the Effective Date. This obligation shall fully survive the termination of the Employment Term.
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Signing Payment. Executive shall be entitled to an amount equal to $1,187,500 1,050,000 as and for a signing bonus from the Company (“Signing Payment”). The Signing Payment shall be fully earned upon the Effective Date, but shall be payable in two (2) equal installments on each of the Effective Date and the first (1st) anniversary of the Effective Date, regardless of whether Executive is still employed by the Company as of such payment date. Thus, upon a termination of employment for any reason, Executive shall continue to be entitled to receive, in addition to any other payment due to Executive pursuant to Section 5 hereof, the unpaid portion of the Signing Payment on the first (1st) anniversary of the Effective Date. This obligation shall fully survive the termination of the Employment Term.
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