2011 Bonus. You will be paid a lump sum payment of $102,000 (the “2011 Discretionary Bonus”), which represents the amount you might have received under the discretionary components of the Company’s 2011 annual cash bonus program. In addition, and for the avoidance of doubt, you may be paid an additional lump sum payment related to the objective portion of the Company’s 2011 annual cash bonus program (the portion relating to the operating income metric) under the terms of the program, based upon actual full-year achievement of that metric as determined following completion of fiscal year 2011. Your entitlement to the operating income metric portion of the 2011 bonus is not contingent upon this Agreement becoming effective and will be determined based solely upon the terms and conditions of the 2011 annual cash bonus program, as determined by the Compensation Committee of the Board of Directors (or its successor) as administrator of that program, consistent with the terms and conditions of such program. The 2011 Discretionary Bonus will be paid as soon as administratively practicable but in no event later than 2 1/2 months after the close of the 2011 fiscal year.
2011 Bonus. The annual bonus paid to the Executive for the 2011 year (the “2011 Bonus”) will not be less than $500,000 payable on the same basis as bonuses for 2011 are paid to other senior executives of the Company; provided that not less than $500,000 will be paid in cash.
2011 Bonus. You shall be entitled to receive the prorated portion (for the period of time actually worked prior to your Termination Date) of your annual bonus for 2011, to be paid no later than March, 15, 2012, if earned, in accordance with the terms of the Company’s Annual Incentive Plan and consistent with the annual bonuses paid to the Company’s executive officers at such time under the Annual Incentive Plan.
2011 Bonus. Holdco shall pay the Consultant a cash bonus within 10 business days of April 15, 2011 of $4,500,000 (the “2011 Bonus”) if the Consultant is then engaged by, and providing services to, the Company or the Manager and the following additional conditions have been met as of such date (as determined in the reasonable and good faith discretion of the Board of Managers of Holdco (the “Board”)): (A) a Change in Control (as defined below) has not occurred, (B) the independent auditors for Holdco have issued an opinion without any material caveat or exception, (including, without limitation, a “going concern” caveat) for the 2010 fiscal year of Holdco, and (C) the Company or the Manager has hired a senior management team (the “Management Team”), which could consist of a permanent Chief Executive Officer and such other senior officers as agreed by the Board.
2011 Bonus. As further consideration for this Agreement and in the event that Executive remains employed, by Employer until March 1, 2012, Employer agrees to pay Executive the Board approved amount of the bonus, expressed as a percentage of Executive’s base salary (exclusive of any bonus, commission, incentive pay, overtime, equity compensation grants or exercises, auto or travel allowance, or other similar payments or compensation) earned as of such date, for which Executive is eligible under the 2011 Annual Bonus Plan issued by the Employer; less all required government payroll deductions and withholdings. Executive’s 2011 Bonus percentage (described above) will be no less than the bonus percentage of any other Executive Vice President of Employer who receives a cash bonus.
2011 Bonus. The sum of $60,000, less applicable tax withholdings, payable in a single sum on March 1, 2012;
2011 Bonus. Kona will pay Xx. Xxxxxxxx a bonus for his 2011 performance in the amount of $153,125 (gross), less applicable income tax and other legally required withholding. The Company will make this payment on February 6, 2012.
2011 Bonus. Executive shall receive a cash bonus award in the amount equal to a pro-rata portion of the Target Annual Bonus, based upon the number of calendar days remaining in calendar year 2011 as of the Commencement Date, divided by 365. Subject to Executive’s continued employment through the date of payment, the Annual Bonus shall be paid to Executive no later than 75 days following the last day of calendar year 2011.
