ACCRUED MANAGEMENT BONUS Sample Clauses

ACCRUED MANAGEMENT BONUS. As promptly as practicable following June 30, 1998 or the Closing Date, whichever is later, Purchaser shall calculate the bonuses owed in accordance with the terms of The Xxxxxxx, Xxxxx Bonus Program ("BONUS PLAN") to management employees of Xxxxxxx Xxxxx who were hired by Purchaser immediately following the Closing and who are employed by Purchaser on June 30, 1998 ("BONUS RECIPIENTS"). If Xxxxxxx Adler's Pro Rata Share of the Actual Bonus Amount exceeds the Accrued Bonus Amount, then Sellers shall be jointly and severally liable to and shall promptly pay such excess to Purchaser; and if the Accrued Bonus Amount exceeds Xxxxxxx Adler's Pro Rata Share of the Actual Bonus Amount, Purchaser shall promptly pay such excess amount to Xxxxxxx Xxxxx. As used herein, the term "XXXXXXX ADLER'S PRO RATA SHARE OF THE ACTUAL BONUS AMOUNT" means the amount of bonus payments due Bonus Recipients for the twelve-month period ending June 30, 1998 (calculated in accordance with the Bonus Plan) multiplied by a fraction, the numerator of which is the number of days from July 1, 1997 through the Closing Date and the denominator of which is 365. Bonuses owed pursuant to the Bonus Plan shall be paid by Purchaser in the ordinary course of business consistent with Xxxxxxx Adler's past practice.
Sample 1
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ACCRUED MANAGEMENT BONUS. Any accrued Management Bonus earned by Employee shall become fully payable, subject to applicable withholding, and shall be paid in a lump sum payment within thirty (30) days of such termination.
Sample 1

Related to ACCRUED MANAGEMENT BONUS

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌ (a) Retire at age sixty-five (65) years; or (b) Retire after age sixty-five (65) years; or (c) Have completed at least ten (10) years continuous employment and retire after age fifty-five (55) years but before age sixty-five (65) years; (d) Employees who have completed at least ten (10) years continuous service with the Employer, whose age plus years of that service equal eighty (80); shall be granted retirement bonus on the basis of four (4) days per year of employment.

  • Termination Compensation Termination Compensation equal to two (2) times the Executive's Base Period Income shall be paid to the Executive in a single sum payment in cash on the thirtieth (30th) business day after the later of (a) the Control Change Date and (b) the date of the Executive's employment termination; provided that if at the time of the Executive's termination of employment the Executive is a Specified Employee, then payment of the Termination Compensation to the Executive shall be made on the first day of the seventh (7th) month following the Executive's employment termination.

  • Special Bonus In addition to the Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the Highest Annual Bonus. The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Sick Leave Bonus ‌ For every six (6) months of perfect sick leave attendance after July 1, 1987, the employee will receive eight (8) hours of bonus time. This bonus time will be prorated for part-time employees. Such bonus time can be used for any leave purpose covered by this Agreement. Such bonus time shall be counted as vacation leave credits for purposes of determining eligibility for carry- over and cash payments.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • Annual Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

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