2020 Annual Bonus. In satisfaction of Executive's rights with respect to an annual bonus for the 2020 calendar year, the Executive shall also be paid an annual bonus with respect to the Company's 2020 fiscal year in the amount of $531,995 with such payment to be made on or prior to March 15, 2021.
2020 Annual Bonus. Ale shall continue to be eligible to receive a prorated annual bonus for 2020 (payable at the time annual bonuses are generally paid by the Company to its senior executives, but in no event later than March 15, 2021), calculated as the annual bonus that would otherwise have been payable by the Company to Ale for 2020 (based on actual performance) if Ale had remained employed by the Company for the entire year, multiplied by a fraction, the numerator of which is equal to the number of days Ale was employed by the Company during 2020, and the denominator of which is 365.
2020 Annual Bonus. You will be eligible to receive a bonus for 2020 equal to your target bonus times the percentage achievement of the Company’s 2020 goals as assessed by the Board of Directors of the Company in connection with the determination of bonuses for the executive team, with any such bonus paid less applicable taxes and withholdings and at the same time as annual bonuses are paid to other executives of the Company or, if later, immediately upon the expiration of the Revocation Period. You will not be eligible for, nor shall you have a right to receive, any payments or benefits from the Company following the Separation Date other than as set forth in this paragraph.
2020 Annual Bonus. With respect to your 2020 bonus, the Company will provide you with a 2020 annual bonus in an amount equal to 40% of your 2020 salary, pro-rated for the number of days employed with the Company during the 2020 calendar year through the Separation Date. The bonus paid under this section will be paid in a lump sum, subject to standard payroll deductions and withholdings, no later than the earlier of:
(i) March 15, 2021; or (ii) the date that performance bonuses are otherwise paid to Parent's executive officers for objectives met in calendar year 2020.
2020 Annual Bonus. Executive and the Company agree that, on the Effective Date, Executive shall receive a grant of 5,337 shares of unrestricted Class A common stock under the Helius Medical Technologies, Inc. 2018 Omnibus Incentive Plan in lieu of a cash bonus for fiscal year 2020.
2020 Annual Bonus. The Executive will be eligible for a 2020 annual bonus at the Bonus Target provided in Section 3 of the Agreement, subject to the following conditions:
(i) The Executive’s 2020 annual bonus shall be subject only to the Company’s achievement of the Company performance percentage component of the Company’s bonus plan applied to all senior executives, and (to avoid doubt) shall not be based on any individual performance component. For example, if the Board determines the Company’s performance percentage for 2020 is 90%, Executive’s 2020 bonus amount (before application of d.(iii) below) shall equal ($538,200 x 50%) x 90%);
(ii) Notwithstanding anything in this Release to the contrary, the Executive’s 2020 bonus shall not exceed 100% of the Bonus Target, which is $269,100;
(iii) If the Employment Termination Date occurs prior to December 31, 2020, any 2020 bonus shall be prorated based on when the Employment Termination Date occurs by multiplying the annualized bonus amount (as determined by the Company as described in subsection d.(i)) by the following fraction: x/366, where x is the number of days that have occurred in calendar year 2020 as of the Employment Termination Dates; and
(iv) The Company shall pay Executive’s earned 2020 bonus (if any) in February or March 2021, when the Company pays 2020 bonuses to other executives, but in no event later than 75 days after December 31, 2020.
2020 Annual Bonus. Executive shall be entitled to receive his 2020 Annual Bonus in the amount of $885,000.00 on the date that bonuses are paid to other Company executives which is expected to be December 24, 2020.
2020 Annual Bonus. In addition to the Annual Base Salary, for the Company’s 2020 fiscal year only, the Executive shall be eligible to receive annual bonus compensation (the “2020 Bonus”) consistent with the Company’s bonus plan for key executives as in effect from time to time (the “Bonus Plan”) and the terms set forth herein. The 2020 Bonus, if any, shall be paid in 2021 at the time annual bonuses are paid to other senior executives of the Company. For the 2020 fiscal year, the target amount of the Annual Bonus shall be $277,169.35 and the maximum amount of the Annual Bonus shall be $554,338.70, with the actual amount of the Annual Bonus, if any, to be determined by the Board or the Compensation Committee of the Board (the “Committee”) in accordance with the Bonus Plan.
2020 Annual Bonus. How does the Merger impact my 2020 annual bonus?
2020 Annual Bonus. In satisfaction of, and in lieu of the amount required by, Section 8(d)(iv) of the Employment Agreement, although otherwise under no obligation to do so, Academy agrees to pay to Executive the bonus that would have been earned by Executive under the Annual Incentive Plan for fiscal year 2020 had Executive worked the entirety of fiscal year 2020, less all applicable taxes and other withholdings. Executive acknowledges that the amount provided by this Section 2(a)(i) is greater than the amount provided under Section 8(d)(iv) of the Employment Agreement and agrees that all other terms of Section 8(d)(iv) of the Employment Agreement remain unchanged and in full force and effect.
