Bonus and Incentive Payments Sample Clauses

Bonus and Incentive Payments. Executive shall be entitled to receive Executive’s annual bonus for the fiscal year immediately preceding the Termination Date (but only to the extent not yet paid to Executive prior to the Termination Date), as determined by the Board on or before the Termination Date or if no determination has been made, Executive’s target annual bonus assuming achievement of performance goals at target at the rate in effect immediately prior to the Termination Date, payable in a cash lump sum, less applicable withholdings, on the first payroll date following the date the Release of Claims becomes effective and irrevocable. If Executive is a participant in the Company’s Long Term Incentive Plan (or any similar bonus plan that may replace such plan in the future) (the “LTIP”) as of immediately prior to the Termination Date, Executive shall be entitled to receive (i) a pro rata portion of Executive’s bonus payouts under the LTIP for the open bonus periods that include the Termination Date year, calculated as provided in the LTIP, and (ii) Executive’s bonus payouts under the LTIP for the period that ends in the fiscal year immediately preceding the Termination Date, calculated as provided in the LTIP (but only to the extent such bonus payouts have not been paid to Executive prior to the Termination Date).
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Bonus and Incentive Payments. If the Executive’s employment with the Company pursuant to this Agreement is terminated by the Company for Cause or by the Executive for any reason other than Good Reason, Executive shall be deemed to have forfeited the right to receive all amounts accrued during the fiscal year of termination under the bonus and incentive compensation arrangements described in Section 3(b) and the Company shall have no obligation to pay Executive any amounts arising under such bonus and incentive compensation arrangements. Upon the termination of the Executive’s employment with the Company pursuant to this Agreement for any other reason, including by reason of the Executive’s death or Disability, the Executive (or his beneficiaries or estate) shall be entitled to receive all amounts accrued under the bonus and incentive compensation arrangements described in Section 3(b) in proportion to the number of days worked in the relevant year, with the bonus and incentive compensation amounts determined by the Company’s Compensation Committee at a time and in a manner consistent with the arrangements then in effect and with any similar awards given to other key executive officers of the Company.
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Bonus and Incentive Payments. (a) Not later than the Distribution Date, SpinCo shall, or shall cause another SpinCo Entity to, take commercially reasonable steps to adopt a plan that will provide annual bonus or short-term cash incentive opportunities for SpinCo Group Employees and Post-Distribution Transferred Employees that are substantially similar to the opportunities provided to such Employees immediately prior to the Distribution Date (the “SpinCo Annual Bonus Plan”), subject to SpinCo’s right to amend or terminate such plan after the Distribution Date in accordance with the terms thereof. The SpinCo Annual Bonus Plan shall be approved prior to the Distribution Date by NOV, as the sole shareholder of SpinCo, and SpinCo Group Employees shall participate in such SpinCo Annual Bonus Plan immediately following the Distribution Date; provided, however, for the 2014 performance period, in determining whether the performance goals under the SpinCo Annual Bonus Plan have been achieved, SpinCo shall take into account the financial and operational performance of the SpinCo Business prior to the Distribution Date, and service with NOV shall be credited for the purposes of determining whether such SpinCo Group Employee had been a participant in the SpinCo Annual Bonus Plan during such performance period. (b) For the avoidance of doubt, (i) the NOV Group shall be solely responsible for funding, paying, and discharging all obligations relating to any annual cash incentive awards that any NOV Group Employee is eligible to receive under any NOV annual bonus plans with respect to payments made beginning at or after the Distribution Date, including the NOV Annual Bonus Plan, and no SpinCo Entity shall have any obligations with respect thereto, and (ii) the SpinCo Group shall be solely responsible for funding, paying, and discharging all obligations relating to any annual cash incentive awards that any SpinCo Group Employee or Post Distribution Transferred Employee is eligible to receive under any SpinCo Group annual bonus and other short-term incentive compensation plans with respect to payments made beginning at or after the Distribution Date, including the SpinCo Annual Bonus Plan, and no NOV Entity shall have any obligations with respect thereto.
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Bonus and Incentive Payments. 17.1 The employer has developed the retail monthly bonus and quarterly incentive scheme to reward eligible employees for individual performance. Payments under the schemes will be in addition to other remuneration benefits set out in this Agreement. 17.2 Eligible employees are as defined below: (a) Monthly Bonus (i) Fulltime and part time retail employees with over 3 month’s continuous service with the employer; (ii) Casual retail employees with over 3 month’s continuous service with the employer (b) Quarterly Incentive (i) Fulltime and part time retail employees with over 3 month’s continuous service with the employer;
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Bonus and Incentive Payments. At the Merger Effective Time, the Seller shall transfer to the Purchaser, or at the direction of the Purchaser, directly to the Company and/or the Subsidiaries, as applicable, an amount in cash equal to the transaction bonuses payable to any employee of the Company or any Subsidiary (the “Transaction Bonuses”), and all withholding and payroll Taxes payable thereon, and shall deliver to the Company, on the date of the Merger, a schedule setting forth the name of each recipient, the amount of each recipient’s Transaction Bonus and the terms of payment thereof (the “Transaction Bonus Scheme”), and the Purchaser hereby agrees that it, as an agent of the Seller, shall, or shall cause the Company or the Subsidiaries to, (i) pay the entirety of the Transaction Bonuses to the relevant employees within five (5) days of the date of the Merger in accordance with the terms of the Transaction Bonus Scheme and (ii) withhold and deposit all applicable Taxes on such Transaction Bonuses in accordance with Applicable Law. In addition, prior to the date of the Merger, the Company shall, and shall cause the relevant Subsidiaries to, (x) subject to Section 5.01, pay to the relevant employees of the Company and the Subsidiaries certain operating bonuses (the “Operating Bonuses”) (it being understood and agreed that in no event shall the Purchaser bear, directly or indirectly, more than 1/12 of the cost of such Operating Bonuses); (y) withhold and deposit all applicable Taxes on such Operating Bonuses in accordance with applicable Law; and (z) promptly thereafter (and in any event, not less than five (5) days prior to the date of the Merger), provide to the Purchaser a list of the individuals to whom it paid such Operating Bonuses, together with the amount of the Operating Bonus paid to each such individual. The foregoing notwithstanding, no Transaction Bonus and no Operating Bonus will be made which would be treated as an “excess parachute payment” under Section 280G of the Code in connection with, or directly or indirectly as a result of, the transactions contemplated by this Agreement. Without limiting the generality of the foregoing, the Seller confirms that, in no event shall the Company have any obligation to pay salary, bonus, or other amounts to Mr. V. Xxxxxx Xxxx with respect to any period after the Merger Effective Time, and all amounts to be paid to Xx. Xxxx from the Economic Effective Date to the Merger Effective Time or payable with respect to such period will be co...
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Bonus and Incentive Payments. 5.6.1 The productivity payment will be based on a percentage movement corresponding to a specific dollar amount as an increase (or decrease) from the base amount. The current base amount is set at $800.00. See attachment for example calculation method.
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Bonus and Incentive Payments. For the avoidance of doubt, (i) the Valero Group shall be solely responsible for funding, paying, and discharging all obligations relating to any annual cash incentive awards that any Valero Group Employee is eligible to receive under any Valero annual bonus plans with respect to payments made beginning, at or after the Distribution Date, and no Corner Store Entity shall have any obligations with respect thereto, and (ii) the Corner Store Group shall be solely responsible for funding, paying, and discharging all obligations relating to any annual cash incentive awards that any Corner Store Group Employee or Post Distribution Transferred Employee is eligible to receive under any Corner Store Group annual bonus and other short-term incentive compensation plans with respect to payments made beginning at or after the Distribution Date, including the Corner Store Annual Bonus Plan, and no Valero Entity shall have any obligations with respect thereto; provided; however, as of no later than 30 days following the Distribution Date or Transfer Date, as applicable, the Valero Group shall make a cash payment based upon one-hundred percent (100%) of bonus target for the period of time of participation from January 1, 2013 to the time immediately prior to the Distribution Date or Transfer Date, as applicable, to the Corner Store Group in respect of bonuses accrued in respect of Corner Store Group Employees or Post Distribution Employees under the Valero Energy Corporation Annual Bonus Plan and the Valero Energy Corporation Annual Incentive Plan for Named Executive Officers as of the Distribution Date or Transfer Date, as applicable. Such prorated cash payment will not be subject to future adjustment.
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Bonus and Incentive Payments. At the absolute discretion of the Employer bonus and incentive programs may be implemented. The structure of such programs shall be drawn up and identified in a relevant policy document and shall refer to this clause. If the Employer choses to introduce such programs the Employer has the absolute right to amend, vary or withdraw such programs at any time without consultation or agreement from the employee. All payments made pursuant to a bonus or incentive program introduced pursuant to this clause will be made at the complete discretion of the Employer. The Employer is not obliged to pay any amount under such a program. The Employer may, at their discretion, pay a bonus to an employee that is not governed by a bonus or incentive program set out in any policy document which relates to this provision.
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Bonus and Incentive Payments. 3.7.1 The productivity payment will be based on the OSI Blacktown Productivity Matrix as it applies now and in the future.
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Related to Bonus and Incentive Payments

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • 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.

  • 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.

  • 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.

  • Incentive Payment 11.3.1 An employer may offer and an employee may accept an early retirement incentive based on the age at retirement to be paid in the following amounts Age at Retirement % of Annual Salary at Time of Retirement 11.3.2 An employer may opt to pay the early retirement incentive in three equal annual payments over a thirty-six (36) month period. 11.3.3 Eligible bargaining unit members may opt for a partial early retirement with a pro- rated incentive.

  • Incentive Pay (1) For any calendar year: in which twenty-five percent (25%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then (a) Members who are rated at Level II in all phases of the PFT will receive three hundred dollars ($300.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (2) For any calendar year in which fifty percent (50%) of the number of members employed as of January 1 of each year are rated as either Level II or Level III in every phase of the PFT then: (a) Members who are rated at Level II in all phases of the PFT will receive six hundred dollars ($600.00) in a one-time lump sum payment. (b) Members who are rated at Level III in all phases of the PFT will receive nine hundred dollars ($900.00) in a one-time lump sum payment. (3) All lump sum payments referenced herein will be paid in February of the following year.

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

  • 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.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.

  • 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.

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