Bonus and Options. Subject to the rules and regulations applicable thereto, the Corporation shall provide for Employee's participation in any option, incentive employee benefit plans or compensation programs administered by the Corporation or the Bank or under its direction, including any employee bonus plans as may presently exist or are to be placed into effect after the date hereof.
Bonus and Options. 7.1 In the event that the Board of Directors of Employer and/or HOMI Inc may approve a management bonus program, it is understood that various members of management of HOMI Companies could receive rights under such program, including the function of HOMI Companies’ CEO, in which case Manager shall be entitled to whatever bonus may be designated in such program to HOMI Companies’ CEO (the “Bonus”), and such Bonus shall not be included in the Cost of Employment.
7.2 In the event that the Board of Directors of Employer and/or HOMI Inc may approve an employee stock option plan, it is understood that various members of management of HOMI Companies could receive rights under such plan, including the function of HOMI Companies’ CEO, in which case Manager shall be entitled to whatever specific rights may be designated in such plan to HOMI Companies’ CEO, for the duration of the Agreement, and such rights shall not be included in the Cost of Employment.
7.3 The timing and manner of grant and/or implementation of any rights pursuant to this Section 7 shall be at such times and in such manner as approved by the Board of Directors as specified above.
Bonus and Options. 8.1 For the period ending 31st December 2008, Manager confirms that he has already received the full bonus
8.2 to which he was entitled, and that as of 1st January 2009 Manager will not be entitled to the $25 per minibar bonus that was provided for in Section 8.1 of the Exhibit A’ dated 11th August 2008.
8.3 1 January 2009, the following bonus provisions shall apply: In the event that the Board of Directors of HOMI Inc may approve a management bonus program, it is understood that various members of management of HOMI Companies could receive rights under such program, including the function of HOMI Companies’ President, in which case Manager shall be entitled to whatever bonus may be designated in such program to HOMI Companies’ President. The grant and/or implementation of any such rights shall be at such times and in such manner as approved by the Board of Directors as specified above.
Bonus and Options. (a) Employee will be eligible for Corporation's employee bonus plan as the same may be in effect from time to time.
(b) Employee shall receive a cash bonus equal to $25,000 upon the commencement of operations of the Bank.
(c) The Corporation hereby grants to Employee options to purchase that number of shares of the Corporation which constitute 10% of the outstanding shares of the Corporation (the "Options"), computed prior to the grant of such options, upon the commencement of operations of the Bank. The per share exercise price of the Options granted herein shall be: (i) the per share price, adjusted for any stock dividends or splits at which the Corporation sells shares of its common stock to the public prior to the commencement of operations of the Bank (the "Base Price") for 70% of the options granted hereunder, and (ii) 160%, 180% and 200% of the Base Price for each of the remaining 10% increments respectively. The Options granted hereunder shall be nonqualified stock options.
(i) Such Options shall become vested upon commencement of operations of the Bank and thereafter exercisable on or after December 31, 2001.
(ii) The Options shall expire, unless properly exercised prior thereto, ten years from the date first written above, or 30 days following termination of employment, whichever shall first occur.
(iii) Notwithstanding paragraph 3.c(i) and (ii), of this Agreement, the Options shall become fully vested and may be exercised by Employee or his personal representative, within the 180 day period following the termination of employment of Employee pursuant to paragraph 4(b) or 4(d) of this Agreement, or within a period of one (1) year following the termination of employment of Employee pursuant to paragraph 4(f) of this Agreement. All unexercised Options shall automatically expire and Employee will forfeit all rights thereto upon termination of Employment pursuant to paragraph 4(c) or 4(e) hereof.
(iv) The terms of the Options set forth herein and such other terms and conditions as the Board of Directors of the Corporation shall determine not inconsistent with the terms of this Agreement, shall be set forth in a written stock option plan adopted by the Board of Directors of the Corporation and a written grant form executed by the Corporation and the Employee prior to the commencement of operations of the Bank. Among other things the written grant form shall provide for the Cashless Exercise of the Options, as hereinafter defined. Cashless Exercise sha...
Bonus and Options. The Employee is engaged into a separate bonus arrangement, annually established in discretion by the Company. Current bonus program in appendix 1. The Employee is engaged into a separate stock options agreement with the Company. Appendix 2.
Bonus and Options. 7.1 For the duration of this Agreement, Manager shall be entitled to receive, in addition to the Salary, whatever portion of whatever Management Bonus program that is approved by HOMI Int’l’s Board of Directors, from time to time, as being payable to HOMI Companies’ CFO (the “Bonus”).
7.2 Any Bonus payable to Manager shall be paid at such times and in such manner as approved by HOMI Int’l’s Board.
7.3 In the event that HOMI Int’l may approve an employee stock option plan, it is understood that various members of management of HOMI Companies would receive rights under such plan, including the function of HOMI Companies’ CFO, in which case Manager shall be entitled to whatever specific rights may be designated in such plan to the HOMI Companies’ CFO. Employer encourages employees of HOMI Companies to own shares in HOMI Int’l and will recommend that Manager receive entitlements to purchase such shares, in the context of programs that may be approved by HOMI Int’l’s Board of Directors.
Bonus and Options. (a) Subject to the rules and regulations applicable thereto, the Corporation shall provide for Employee's participation in any incentive employee benefit plans or programs administered by the Corporation or the Bank or under its direction, including any employee bonus plans as may presently exist or are be placed into effect after the date hereof.
(b) The Corporation and Employee hereby acknowledge that options to purchase shares of the common stock of the Corporation have been granted to Employee under the terms of the Second Addendum (the "Options") and the Employee agrees to abide by the terms of the Second Addendum and the terms of the Amended and Restated Western Reserve Bancorp, Inc. 1998 Stock Option Plan relative to the Options.
Bonus and Options. 4.1 The Employee shall be eligible for an annual bonus of up to 50% of his base annual Salary, as described in section 3.1. Such bonus shall be calculated based in particular on the Employee achieving the goals set by the Corporation and its financial situation. For the fiscal year which began on October 1, 2021 and ending on September 30, 2022, the annual bonus shall be paid pro rata to the days worked between June 20, 2022 (or any later date agreed to by the parties) and September 30, 2022.
4.2 Subject to approval by the Board of Directors, the Corporation shall grant the Employee 50,000 stock options in accordance with the Corporation’s Employee Stock Option Plan (ESOP). Twenty-five percent (25%) of the stock options granted shall vest on the first anniversary of the grant date and twenty-five percent (25%) additional stock options shall vest on each of the second, third and fourth anniversaries of the grant date, the whole according to the ESOP. In accordance with the Corporation’s incentive program, the Employee shall also be eligible for annual grants determined based on the plan’s parameters and his performance.
Bonus and Options. 2.1 If Schwxx xxxforms his obligations under Section 1.1, hereof, MA will pay Schwxx x 00% annual bonus for 1997, without appraisal, on the Corporation's regular schedule.
2.2 If Schwxx xxxforms his obligations under Section 1.1 and 1.3 hereof, Schwxx xxxl fully vest all Incentive Stock Options previously granted and not vested on the schedule set forth on Exhibit B hereto and will retain all rights and obligations pertaining thereto.
Bonus and Options. 8.1. During the Initial Term, the following bonus provisions shall apply: Manager will receive a one-time bonus payment for each minibar that will be installed at a hotel in Europe by any HOMI Company as a direct result of an introduction made to the hotel by Manager, with the total cost to Employer of such bonus being $25 per minibar. The bonus will be paid quarterly, in respect of minibars so installed during the immediately preceding quarter.
8.2. After the Initial Term, the following bonus provisions shall apply: In the event that the Board of Directors of HOMI Inc may approve a management bonus program, it is understood that various members of management of HOMI Companies' President, in which case Manager shall be entitled to whatever bonus may be designated in such program to HOMI Companies' President. The grant and/or implementation of any such rights shall be at such times and in such manner as approved by the Board of Directors as specified above.
8.3. The bonus as described in Section 8.1 and 8.2 above, whichever is applicable (the “Bonus”), shall not be included in the Cost of Employment and shall not form part of the Salary and Manager will not be entitled to any social benefits or social payments of any kind in connection with the Bonus. The Bonus shall also constitute consideration in respect of Manager's non-competition undertakings towards HOMI Companies.
8.4. In the event that HOMI Inc may approve an employee stock option plan, Manager shall be entitled to participate in such plan in accordance with decisions that may be passed by HOMI Inc's Board of Directors from time to time, and such option rights shall not be included in the Cost of Employment.
