Accrued Bonuses. The Company shall pay to Executive (or his estate) any accrued and unpaid bonuses in respect of years ending prior to the date of termination, and a pro rata bonus for the portion of the year preceding the date of termination in the actual amount that would have been earned based on the Company's actual performance for the year,
Accrued Bonuses. Section 6.3(h) of the Purchase Agreement is hereby deleted in its entirety and replaced with the following:
Accrued Bonuses. In connection with determining bonuses payable to Continuing Employees, Parent intends to take into consideration accrued bonuses as of the Effective Time. In addition, Parent hereby agrees that, in the event the employment of any Continuing Employee is terminated for any reason prior to the date on which the first quarterly cash bonuses after the Effective Time otherwise would be paid in accordance with Company Benefit Plans in effect on the date of this Agreement, then Parent shall pay such individual, concurrent with such termination, the amount he/she would be entitled to receive if such individual remained an employee of Company or any of its Subsidiaries through the end of the first calendar quarter after and including the Effective Time and the scheduled date of payment as if such Company Benefit Plan remained in full force and effect through and including such dates.
Accrued Bonuses. (i) Each Seller shall continue to accrue bonuses under the Sellers’ bonus plans for each Transferred Employee with respect to the portion of the applicable bonus period through each such Transferred Employee’s Employee Transfer Date and shall pay any bonuses that are due and payable to any Transferred Employee prior to such Transferred Employee’s Employee Transfer Date in accordance with the terms and conditions of the applicable Seller bonus plan. (ii) The Final Statement shall include an amount that reflects the Sellers’ good faith estimate of all accrued bonuses under Sellers’ bonus plans for the portion of the applicable bonus period through all applicable Employee Transfer Dates (whether such Employee Transfer Dates occur on or after Closing) (the “Accrued Bonus Amount”). (iii) On the applicable Employee Transfer Date with respect to each Transferred Employee, Buyer shall assume the portion of the Accrued Bonus Amount relating to such Transferred Employee and shall pay any bonuses that are due and payable to such Transferred Employee following the applicable Employee Transfer Date in accordance with the terms and conditions of Sellers’ bonus plans; provided, however, that Buyer shall not assume, or be obligated to pay, any amount in excess of the Accrued Bonus Amount (as adjusted by clause (v), if applicable). (iv) Within thirty (30) Business Days following each of December 31, 2019, March 31, 2020 and June 30, 2020, Sellers shall provide a report to Buyer that sets forth (x) the actual amount of all accrued bonuses under Sellers’ bonus plans for the portion of the applicable bonus period through the applicable Employee Transfer Dates with respect to Transferred Employees in relation to whom the Employee Transfer Date has occurred and (y) the Sellers’ good faith estimate of all accrued bonuses under Sellers’ bonus plans for the portion of the applicable bonus period through the Employee Transfer Date for all Transferred Employees whose Employee Transfer Date has not occurred (the “Adjusted Accrued Bonus Amount”). (v) To the extent the Adjusted Accrued Bonus Amount as of June 30, 2020 is greater than the amount reflected in the Final Statement as the Accrued Bonus Amount, Sellers shall transfer to Buyer, to an account designated by Buyer, the difference within ten (10) Business Days following the date that the final Adjusted Accrued Bonus Amount is provided. (vi) To the extent the Adjusted Accrued Bonus Amount as of June 30, 2020 is less than the amoun...
Accrued Bonuses. The Sellers shall pay to each Transferred Employee at such time as the 2014 annual bonuses are paid to employees generally in accordance with the applicable Seller Plan, but in no event later than March 15, 2015, such Transferred Employee’s annual bonus for 2014 services. The amount of the annual bonus paid to each Transferred Employee shall be based upon the target bonus set forth opposite such Transferred Employee’s name on Schedule 5.4(a) and determined by reference to attainment of applicable 2014 employer and individual performance objectives, as determined in accordance with the applicable Seller Plan (disregarding any continued employment obligations that may apply to any such bonuses). In addition, at Closing or at the Sellers’ first payroll run following Closing, Sellers shall pay to each Transferred Employee any other bonus amount to which such Transferred Employee is entitled in connection with the consummation of the transactions contemplated by this Agreement. For the avoidance of doubt, in no event shall any annual bonus or other incentive or bonus payable in accordance with this Section 5.4(c) be reduced or adversely affected, in any case, by reason of the Transferred Employee’s termination of employment with Sellers and/or commencement of employment with Buyer in connection with the transactions contemplated by this Agreement.
Accrued Bonuses. With the exception of Pre-Tax Contribution, which shall be calculated in accordance with the terms of this Agreement, each of the line items set forth above shall be equal to the corresponding amounts set forth in the statements of income for the Division calculated in accordance with GAAP for the period from January 1, 2007 until the Closing Date.
Accrued Bonuses. (a) If the effective date of the termination of Executive's employment (the "Termination Date") is on or before the end of the second quarter of the Company's fiscal year and after December 31, 1997, then the Company shall pay to Executive a bonus in an amount equal to the bonus paid to Executive for the prior fiscal year under the Company's Bonus Plan multiplied by a fraction, the numerator of which is the number of completed fiscal quarters which have elapsed in the Company`s current fiscal year through and including the Termination Date, and the denominator of which is 4.
Accrued Bonuses. (i) Each Seller shall continue to accrue bonuses under the Sellers’ bonus plans for each Transferred Employee with respect to the portion of the applicable bonus period through each such Transferred Employee’s Employee Transfer Date and shall pay any bonuses that are due and payable to any Transferred Employee prior to such Transferred Employee’s Employee Transfer Date in accordance with the terms and conditions of the applicable Seller bonus plan.
Accrued Bonuses. 29 SECTION 8.
Accrued Bonuses. Buyer acknowledges that the Company has accrued on its balance sheet aggregate bonuses consistent with past practice (excluding acquisition-related bonuses) for the purpose of paying bonuses to its employees (the "Accrued Bonus Amount"). Buyer agrees to cause the Company to use the full Accrued Bonus Amount to pay bonuses to employees in such individual amounts to be determined by the Company after the Closing.
