Bonus Advance Sample Clauses

Bonus Advance. 11936.024 2777677v2 A. Employee acknowledges that she has received an advance payment of bonuses that could be awarded pursuant to Section 2.3.2. Accordingly, if Employee is awarded a bonus at any time after the Effective Date, then the amount of such bonus shall be deemed to have already been paid to, and received by, Employee. B. As of the Effective Date, the total amount of such advance payment of bonuses actually awarded to Employee was equal to Thirty One Thousand Six Hundred Sixty Six and 69/100 Dollars ($31,666.69). Accordingly, after Employee has been awarded at least Thirty One Thousand Six Hundred Sixty Six and 69/100 Dollars ($31,666.69) of bonuses after the Effective Date, then this Section 2.3.5 shall automatically terminate. C. If Employee’s employment with Employer terminates for any reason prior to Employer being awarded at least Thirty One Thousand Six Hundred Sixty Six and 69/100 Dollars ($31,666.69) of bonuses after the Effective Date, then Employee shall pay Employer an amount equal to the difference between (i) Thirty One Thousand Six Hundred Sixty Six and 69/100 Dollars ($31,666.69) and (ii) the aggregate amount of bonuses awarded and paid to Employee after the Effective Date, within thirty (30) calendar days of the day of termination of Employee’s employment with Employer. Employer may offset any amounts due to Employee upon termination such as vacation pay from the amounts which would be due to Employer pursuant to this Section 2.3.5 C.
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Bonus Advance. The Company will advance One Million Five Hundred Thousand Dollars ($1,500,000.00) to the Executive upon execution of this Personal Services Agreement or at the direction of the Executive as a bonus advance (the “Bonus Advance”). Executive will repay this Bonus Advance to the Company during the course of his employment through offsets against any Key Act Bonus or Performance Bonus earned by Executive. Assuming the Executive completes the Term, any remaining Bonus Advance that has not been repaid to the Company by offset shall be deemed earned by the Executive as a Completion Bonus. If the Executive’s employment is terminated before the Expiration Date, any remaining unearned Bonus Advance shall be treated as follows: (i) the Executive shall repay any Unearned Portion of the Bonus Advance within ten (10) business days following termination, if the Executive is terminated for “Cause” or terminates without “Good Reason”; (ii) the Executive shall be deemed to have earned any (otherwise) Unearned Portion of the Bonus Advance if the Executive terminates with “Good Reason” or is terminated without “Cause” or “Justification” or due to death or disability; (iii) solely for purposes of this section and Section 10(c) below, if the Executive is terminated with “Justification,” the Executive shall repay any Unearned Portion of the Bonus Advance within ten (10) business days following termination, however in calculating the amount to be repaid the Executive, in addition to receiving credit for amounts already earned and offset against the Bonus Advance, the Executive will be deemed to have earned 25% of the Bonus Advance at the conclusion of each calendar year 2003-2006 during his employment (by way of example only, if the Executive is terminated with “Justification” in 2005, the Executive will be deemed to have earned 50% ($750,000) of the Bonus Advance, which amount will be added to any Bonus Advance offsets previously earned, in determining the amount, if any, the Executive is required to repay under this section). The “Unearned Portion of the Bonus Advance” shall mean One Million Five Hundred Thousand Dollars ($1,500,000.00), less any amounts in respect of any Performance Bonus or Key Act Bonus offset against the Bonus Advance.
Sample 1
Bonus Advance. Within ten days of Executive's request, the Company agrees to advance up to $34,000 of Executive's bonuses. Such loan shall be repaid by Executive on or prior to the earlier of : (i) Executive ceasing to be an employee of the Company; or (ii) July 31, 2001. The loan shall be interest free and evidenced by a Promissory Note in the form attached hereto as Exhibit A and shall be subject to the additional terms and conditions set forth therein. If requested by the Company, such loan shall be secured by a pledge of Participant's options or stock and Participant agrees to execute such pledge and other agreements as the Company may reasonably request to effect such pledge.
Sample 1
Bonus Advance. The Corporation shall pay the Employee, as an advance, against his bonus for fiscal year 2002, twenty-five thousand dollars ($25,000.00) less applicable taxes and withholding within ten (10) days of the execution of this Agreement by the parties.
Sample 1
Bonus Advance. If the date of Closing of the Next Equity Financing is prior to January 31, 2017, the Company shall advance to Employee the sum of One Hundred Thousand Dollars ($100,000) of Employee’s 2016 annual bonus, which amount shall be deemed fully earned on the date of Closing of the Next Equity Financing.
Sample 1
Bonus Advance. Live Nation agreed to advance to the Employee $350,000, less withholding for applicable taxes, as an advance on potential future bonuses and incorporated herein by this reference, which was paid to the Employee on June 30, 2021 (the “Bonus Advance”). Live Nation recouped $200,000 of the 2021 Bonus to be paid to the Employee and will continue to recoup this Bonus Advance during the course of the Employee’s employment through offsets of a minimum amount of 75% of each annual bonus earned by the Employee during the Term until the Bonus Advance is recouped in full. The current amount of the Bonus Advance remaining to be recouped is $150,000. If the Employee’s employment terminates for any reason before the Bonus Advance is fully recouped, the Employee shall pay any such remaining unrecouped amount in full within ten (10) business days following termination.
Sample 1
Bonus Advance. A. Employee acknowledges that he has received an advance payment of bonuses that could be awarded pursuant to Section 2.3.2. Accordingly, if Employee is awarded a bonus at any time after the Effective Date, then the amount of such bonus shall be deemed to have already been paid to, and received by, Employee. B. As of the Effective Date, the total amount of such advance payment of bonuses less the amount of bonuses actually awarded to Employee was equal to Fifty Thousand Dollars ($50,000). Accordingly, after Employee has been awarded at least Fifty Thousand Dollars ($50,000) of bonuses after the Effective Date, then this Section 2.3.5 shall automatically terminate. C. If Employee’s employment with Employer terminates for any reason prior to Employer being awarded at least Fifty Thousand Dollars ($50,000) of bonuses after the Effective Date, then Employee shall pay Employer an amount equal to the difference between (i) Fifty Thousand Dollars ($50,000) and (ii) the aggregate amount of bonuses awarded and paid to Employee after the Effective Date, within thirty (30) calendar days of the date of termination of Employee’s employment with Employer. Employer may offset any amounts due to Employee upon termination such as vacation pay from the amounts which would be due to Employer pursuant to this Section 2.3.5 C.
Sample 1
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Related to Bonus Advance

  • Salary Advancement If, for whatever reason, an employee on probation is unable to perform his/her assigned duties because of absence from work for any period of time, his/her probation period, merit increase, and anniversary date shall be extended for the same length of the absence (also see Section 6.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • NO ADVANCE PAYMENT No advance payments shall be made for any products or services furnished by Contractor pursuant to this Master Contract.

  • Annual Discretionary Bonus Effective as of the Effective Date, the Executive will be eligible to earn an annual performance bonus of up to 40% of the Executive’s Base Salary (the “Target Bonus”), based upon the Board’s assessment of the Executive’s performance and the Company’s attainment of targeted goals as set by the Board in its sole discretion. To the extent the Executive’s Base Salary and/or target bonus percentage of Base Salary is changed during the year to which the performance bonus relates, the Target Bonus shall be calculated based on base salary actually paid during such year (and not solely on the Executive’s Base Salary at the end of such year) and shall apply the initial target bonus percentage of Base Salary and the revised target bonus percentage of Base Salary based on the portion of the year during which each was in effect. The Board may determine to provide the bonus in the form of cash, equity award(s), or a combination of cash and equity. Following the close of each calendar year, the Board will determine whether the Executive has earned a performance bonus, and the amount of any performance bonus, based on the set criteria. No amount of the annual bonus is guaranteed, and the Executive must be an employee in good standing on the date of payment in order to be eligible for any annual bonus, except as specifically set forth below. The annual performance bonus, if earned, will be paid by no later than March 15 of the calendar year after the year to which it relates. The Executive’s bonus eligibility will be reviewed on an annual or more frequent basis by the Board and is subject to change in the discretion of the Board.

  • Termination; Advance Payments Upon termination of this Lease pursuant to Paragraph 6.2(g) or Paragraph 9, an equitable adjustment shall be made concerning advance Base Rent and any other advance payments made by Lessee to Lessor. Lessor shall, in addition, return to Lessee so much of Lessee's Security Deposit as has not been, or is not then required to be, used by Lessor.

  • Advance Payment The right to indemnification conferred in this Article VII shall include the right to be paid or reimbursed by the Company the reasonable expenses incurred by a Person of the type entitled to be indemnified under Section 7.3 who was, is or is threatened to be made a named defendant or respondent in a Proceeding in advance of the final disposition of the Proceeding and without any determination as to the Person’s ultimate entitlement to indemnification; provided, however, that the payment of such expenses incurred by any such Person in advance of the final disposition of a Proceeding shall be made only upon delivery to the Company of a written affirmation by such Person of his or her good faith belief that he has met the standard of conduct necessary for indemnification under Article VII and a written undertaking, by or on behalf of such Person, to repay all amounts so advanced if it shall ultimately be determined that such indemnified Person is not entitled to be indemnified under this Article VII or otherwise.

  • Discretionary Bonus The Executive shall be entitled to participate in an equitable manner with all other senior management employees of the Bank in discretionary bonuses that may be authorized and declared by the Board of Directors to its senior management executives from time to time. No other compensation provided for in this Agreement shall be deemed a substitute for the Executive's right to participate in such discretionary bonuses when and as declared by the Board.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

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