Additional Bonus Compensation. The Company reserves the right to recognize and reward special contributions Executive may make to the Company. The Company may, from time to time and at any time, pay, or cause to be paid, to Executive such bonus compensation, if any, as the Board may, in its sole and absolute discretion, determine to be appropriate.
Additional Bonus Compensation. For each calendar year in which Employer’s EBITDA projections for Acquired Products are exceeded by 25% or more, Employer may pay Employee, within 90 days after the end of that year, an additional bonus (“Additional Bonus Compensation”) in a target amount of $175,000 (less all required tax withholding), provided that the Board is otherwise satisfied with the performance of both the Employee and the Employer. The foregoing notwithstanding, subject to the approval of the Employee (which shall not be unreasonably withheld or delayed), the criteria for each of the bonuses described in this Section 2(c) may be modified from time to time by the Board to include alternate targets and milestones.
Additional Bonus Compensation. The Company shall pay the Executive, at such time as other participants in the Bonus Plan are paid their respective bonuses, in respect of each of the two (2) Bonus Plan years immediately following the Termination Year, an amount equal to the greater of (A) the Executive's Target Bonus for the Termination Year; and (B) the Executive's actual annual incentive compensation paid or payable with respect to the plan year immediately preceding the Termination Year (whether or not deferred), provided that any actual bonus paid or payable in respect of calendar year 2004 shall be disregarded for purposes of this calculation, and provided, further, that the Company shall pay in respect of the last of such Bonus Plan years only a pro rata share of such annual bonus equal to the product of such bonus and a fraction, the numerator of which is the number of days during the Termination Year through and including the Termination Date and the denominator of which is 365;
Additional Bonus Compensation. Executive shall be eligible to participate in the annual incentive bonus programs available to officers of Employer and will be
Additional Bonus Compensation. Upon the closing of a Liquidity Event, the Company shall pay (or arrange for the payment) to Executive in cash the sum equal to four percent (4%) of the Gross Closing Proceeds (the “Liquidity Bonus”), subject to a cumulative cap of $750 million for payment of the Liquidity Bonus and any liquidity bonus payable to Xxxxxxx Xxxx, Jr..
Additional Bonus Compensation. The “Additional Bonus Compensation” as more particularly set forth in Section 2.2(c) of the Amendment to Employment Agreement by and between the Company and Employee dated March 16, 2017 shall remain in full force and effect and is by this reference fully restated herein.
Additional Bonus Compensation. In the event SWBC earns vesting rights to all of the 250,000 shares of the warrant before December 31, 1999, then billserv.com will issue a xxxxxx warrant to SWBC in the amount of 250,000 shares. This second warrant will be issued on terms similar to the first warrant and will have an exercise price at the then-current fair market value of billserv.com's common xxxxx. In the event SWBC earns vesting rights to all of the 250,000 shares of the first warrant before December 31, 2000, then billserv.com will issue a xxxxxx warrant to SWBC in the amount of 125,000 shares. This second warrant will be issued on terms similar to the first warrant and will have an exercise price at the then-current fair market value of billserv.com's commox xxxxx.
Additional Bonus Compensation. On the earlier of (i) a Change in Control (as defined in the Employee’s non-statutory stock option agreement, of even date hereof, but only to the extent that such event also constitutes a “change in ownership” of the Company or a “change in the ownership of a substantial portion of the Company’s assets” for purposes of Section 409A of the Code); (ii) Employee’s separation from service for any reason other than pursuant to “cause” as defined in paragraph 9.1 of this Employee Agreement, and (iii) the fourth anniversary of Employee’s start date, Employee shall be paid an additional bonus (the “Additional Bonus”) that will be payable as follows: The Additional Bonus shall be equal to: (D + A – B) x X A - Exercise Price per Share (as defined in the Employee’s non-statutory stock option agreement, of even date hereof). B - $0.65.
Additional Bonus Compensation. Upon the occurrence of the Next Qualified Financing (defined below), Executive shall be paid a one-time bonus in an amount equal to $8,333.33 for each calendar month (pro-rated for any partial calendar month) between August 8, 2013 and the date upon which the Next Qualified Financing occurs, provided that payment of such bonus shall be subject to and contingent upon Executive continuing to provide services to the Company under the Employment Agreement, as amended, at the time such bonus is paid. Executive shall be paid the bonus contemplated by this Section 2 in cash, less required deductions for state and federal withholding tax, social security and all other employment taxes and payroll deductions, within thirty (30) days of the completion of the Next Qualified Financing. As used herein, the term “Next Qualified Financing” shall mean any transaction or series of transactions occurring on or after August 9, 2013 involving the sale of debt or equity securities of the Company (including any cash received by the Company from the exercise of Series B Preferred Stock warrants) for bona fide capital raising purchase with an aggregate gross proceeds of at least $5,000,000.
Additional Bonus Compensation. During the Employment Period, Executive shall also be eligible to receive a bonus in an anticipated amount of one to three times his Base Salary (an “Annual Bonus”), payable in connection with the end of the Company’s fiscal year at times determined by the Board or the Committee, at least 50% of which shall be paid to the Executive in cash. Subject to the Minimum Bonus described below, the exact amount of and the eligibility to receive any such Annual Bonus (including any performance metrics to be met in order to establish such eligibility) shall be determined at the discretion of the Board and the Committee in accordance with the Company’s Charter and Bylaws. Notwithstanding the foregoing, so long as the Executive remains employed by the Company, the Executive shall be entitled to receive a minimum Annual Bonus (“Minimum Bonus”) in connection with the first two fiscal years of the Company ending during the Employment Period (currently expected to end on December 31, 2015 and December 31, 2016, but specifically excluding the Company’s fiscal year ended April 30, 2015) equal to his Base Salary then in effect, at least 50% of which shall be payable in cash, in accordance with the Company’s normal timing of and payroll practices for bonus payments; provided that, with respect to any such Minimum Bonus payable for a fiscal year ended December 31, 2015, the amount of such bonus shall be the amount of such Base Salary as prorated from and including Start Date and to and including December 31, 2015.
