Bonus and Incentive Arrangements Sample Clauses

Bonus and Incentive Arrangements. Ferro will remain responsible for all bonuses, bonus programs or plans, and incentive programs or plans, including retention and success bonuses, that are payable to or earned by the U.S. Retained Employees before, at, or after the Closing, by the U.S. Active Employees before or at the Closing, and by the U.S. Inactive Employees at any time before becoming U.S. Transferred Employees, including any bonuses earned and payable as a result of the Closing (such payments, excluding any retention or success bonuses, are referred to below as the “Incentives”). Following the close of the calendar year, Ferro will calculate the amount of the Incentives for the current calendar year with respect to the U.S. Transferred Employees, communicate such amounts to Olympic Plastics, and pay Olympic Plastics the total gross amounts of such Incentives at the time when such Incentives are paid to Ferro employees generally. Olympic Plastics will then promptly make such Incentives payments to applicable U.S. Transferred Employees eligible for such payments, after applicable tax withholding. Olympic Plastics will be responsible for all the reporting (including W-2 tax forms) relating to such Incentives. To be eligible for any Incentives payments, a U.S. Transferred Employee must be an employee of Olympic Plastics on December 31, 2006. Olympic Plastics will provide certain of the U.S. Transferred Employees with new bonus and incentive arrangements that will begin after the Closing.

Bonus and Incentive Arrangements. (a) The Disclosure Documents contain material details of any share incentive, share option, profit sharing, phantom incentive arrangement, employee share purchase plans, long-term incentive compensation arrangements, bonus, employee benefit trust or other incentive arrangements in which the DivestCo Employees participate (the “Bonus Plans”).