Allocation of Bonus Pool Sample Clauses

Allocation of Bonus Pool. The Bonus Pool shall be allocated as specified in each Participant's Employment Agreement.
Sample 1Sample 2Sample 3See All (6)
AutoNDA by SimpleDocs
Allocation of Bonus Pool. As soon as practicable, but no later than sixty (60) days following the certification of the Company's financial statements in respect of the fiscal year of the Company ending June 30, 2000, the Bonus Pool shall be allocated by the then most senior executive among Messrs. Angelo Xxxxxxxx, Xxxxph Xxxxxxxx, Xxxx Xxxxxxx xxx Xorge Xxxx, xx xuch individual's sole discretion, between (i) the Senior Executive Group, consist- ing of Messrs. Angelo Xxxxxxxx, Xxxxph Xxxxxxxx, Xxxx Pxxxxxx xxx Xorge Xxxx, and (ii) the Executive Group, consisting of the Chief Financial Officer, any Executive Vice President and such other employees of the Company as the Chairman shall in his discretion designate; provided, however, that no less than 5% of the Bonus Pool shall be allocated to the Executive Group. Except as herein- below provided, one-fourth (1/4) of that portion of the Bonus Pool allocated to the Senior Executive Group in accordance with the immediately preceding sentence shall be allocated to each of the mem- bers of the Senior Executive Group (such individual's allocation, the "Bonus"), and that portion of the Bonus Pool allocated to the Executive Group in accordance with the immediately preceding sentence shall be allocated among the members of the Executive Group as determined by the Chairman in his sole discretion. If the employment of the Executive is terminated by the Com pany without Cause or by the Executive with Good Reason, he shall be entitled to receive 100% of his Bonus at such time as the Bonus otherwise becomes pay- able. If the employment of the Execu tive is terminated by the Company for Cause or by the Executive without Good Reason (A) during the first year of the Term, the Executive's right to receive any portion of the Bonus shall be for feited or (B) during the second year of the Term, he shall be entitled to re ceive, at such time as the Bonus other wise becomes payable, an amount equal to one-half (1/2) of the Bonus otherwise attributable to him. In the event that, prior to February 1, 1999, the Company offers to the Executive an extension of his employment for at least one (1) year following the end of the Term on terms substantially similar to those provided herein and the Executive does not accept such offer, the Executive shall be enti- tled to receive, at the time such Bonus otherwise becomes payable, an amount equal to two-thirds (2/3) of the Bonus otherwise attributable to him. In the event that, prior to February 1, 1999, the Company doe...
Sample 1
Allocation of Bonus Pool. (a) The allocation of the Bonus Pool to individuals designated as Participants shall be set forth in writing from time to time as determined by the Administrator and specified in the applicable Participant’s Participation Agreement. Each Participant’s payment under the Plan (his or her “Bonus Amount”) will be the amount set forth in such Participant’s Participation Agreement, as such amount may be modified pursuant to the terms of the Plan. The aggregate of the Bonus Amounts set forth in the Participation Agreements with all Participants may not exceed the Bonus Pool at any time. (b) If a former Participant ceases to be a Participant at any time prior to the Closing, such former Participant’s Bonus Amount shall be forfeited and be available for reallocation and distribution under this Plan at or prior to the Closing as determined by the Administrator or pursuant to Section 5(c). (c) In the event that the sum of the Bonus Amounts of all Participants at the Closing is less than the amount of the Bonus Pool, then the amount by which the Bonus Pool exceeds such sum (the “Unallocated Portion”) Exhibit A-3 shall be allocated among all Participants at the Closing by way of ratably increasing the Bonus Amount of each such Participant in proportion to such Participants’ Bonus Amount immediately prior to such allocation of the Unallocated Portion, so that after such allocation of the Unallocated Portion, the sum of the Bonus Amounts of all Participants at the Closing is equal to the Bonus Pool.
Sample 1
Allocation of Bonus Pool. The portion of the pool allocated to the Plan participants is distributed 50 percent based on their weighted salary (using factors approved by the Committee each year) versus the total weighted salaries of all participants of the plan and 50 percent at the discretion of the Chairman of the Board and the Chief Executive Officer. The weighted salaries will be determined by multiplying the salary earned while a participant in the plan times the weighting factors as determined by the Chairman, the Chief Executive Officer and the Committee. If a participant moves from one level to another during the year, the different weighting factors is applied to the salary earned at each level and prorated.
Sample 1
Allocation of Bonus Pool 
Sample 1Sample 2

Related to Allocation of Bonus Pool

  • Allocation of Contributions You may place your contributions in one fund or in any combination of funds, although your employer may place restrictions on investment in certain funds.

  • Allocation of Net Profits and Net Losses As of the last day of each Fiscal Period, any Net Profits or Net Losses for the Fiscal Period shall be allocated among and credited to or debited against the Capital Accounts of the Members in accordance with their respective Investment Percentages for such Fiscal Period.

  • Allocation of Profits and Losses Distributions Profits/Losses. For financial accounting and tax purposes, the Company's net profits or net losses shall be determined on an annual basis and shall be allocated to the Members in proportion to each Member's relative capital interest in the Company as set forth in Schedule 2 as amended from time to time in accordance with U.S. Department of the Treasury Regulation 1.704-1.

  • Contribution Allocation The Advisory Committee will allocate deferral contributions, matching contributions, qualified nonelective contributions and nonelective contributions in accordance with Section 14.06 and the elections under this Adoption Agreement Section 3.04. PART I. [OPTIONS (a) THROUGH (d)].

  • Allocation of Profits and Losses The Company’s profits and losses shall be allocated to the Member.

  • Gross Income Allocation If any Partner has a deficit Capital Account at the end of any Fiscal Year which is in excess of the sum of (i) the amount such Partner is obligated to restore, if any, pursuant to any provision of this Agreement, and (ii) the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and 1.704-2(i)(5), each such Partner shall be specially allocated items of Partnership income and gain in the amount of such excess as quickly as possible; provided that an allocation pursuant to this Section 5.05(c) shall be made only if and to the extent that a Partner would have a deficit Capital Account in excess of such sum after all other allocations provided for in this Article V have been tentatively made as if Section 5.05(b) and this Section 5.05(c) were not in this Agreement.

  • Bonus Payments No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • Allocation of Consideration (i) Subject to Subsection 2.2(d)(ii), the aggregate consideration payable to the Participating Investors and the selling Key Holder shall be allocated based on the number of shares of Capital Stock sold to the Prospective Transferee by each Participating Investor and the selling Key Holder as provided in Subsection 2.2(b), provided that if a Participating Investor wishes to sell Preferred Stock, the price set forth in the Proposed Transfer Notice shall be appropriately adjusted based on the conversion ratio of the Preferred Stock into Common Stock. (ii) In the event that the Proposed Key Holder Transfer constitutes a Change of Control, the terms of the Purchase and Sale Agreement shall provide that the aggregate consideration from such transfer shall be allocated to the Participating Investors and the selling Key Holder in accordance with Sections 2.1 and 2.2 of Article IV(B) of the Restated Certificate and, if applicable, the next sentence as if (A) such transfer were a Deemed Liquidation Event (as defined in the Restated Certificate), and (B) the Capital Stock sold in accordance with the Purchase and Sale Agreement were the only Capital Stock outstanding. In the event that a portion of the aggregate consideration payable to the Participating Investor(s) and selling Key Holder is placed into escrow and/or is payable only upon satisfaction of contingencies, the Purchase and Sale Agreement shall provide that (x) the portion of such consideration that is not placed in escrow and is not subject to contingencies (the “Initial Consideration”) shall be allocated in accordance with Sections 2.1 and 2.2 of Article IV(B) of the Restated Certificate as if the Initial Consideration were the only consideration payable in connection with such transfer, and (y) any additional consideration which becomes payable to the Participating Investor(s) and selling Key Holder upon release from escrow or satisfaction of such contingencies shall be allocated in accordance with Sections 2.1 and 2.2 of Article IV(B) of the Restated Certificate after taking into account the previous payment of the Initial Consideration as part of the same transfer.

  • Annual Adjustments Base Rent shall be increased on each annual anniversary of the first day of the first full month during the Term of this Lease (each an “Adjustment Date”) by multiplying the Base Rent payable immediately before such Adjustment Date by the Rent Adjustment Percentage and adding the resulting amount to the Base Rent payable immediately before such Adjustment Date. Base Rent, as so adjusted, shall thereafter be due as provided herein. Base Rent adjustments for any fractional calendar month shall be prorated.

  • Allocation of Profits Profits for any Year shall be allocated in the following order and priority: (i) First, to any Partner who was allocated Losses after the Capital Account of any other Partner was reduced to zero (0), to the extent of such Losses; provided, however, that in the event that the foregoing applies to more than one Partner, to those Partners pro rata according to the amount of such Losses allocated to each; and (ii) Second, to the Partners in accordance with their relative Percentage Interests.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!