Bonus Arrangements. In addition to the Base Salary provided for in Paragraph 5 hereof, the Board, or a duly authorized committee thereof, may authorize and instruct the Company to pay to the Employee, pursuant to an incentive compensation plan formally adopted by the Board or a committee thereof or otherwise, bonus payments ("Discretionary Bonus") dependent upon the Employee's individual performance and contribution for a given fiscal year, the Company's financial performance for such fiscal year and/or such other criteria as the Board, or such designated committee thereof, shall determine. The payment of any Discretionary Bonus to be made to the Employee shall be in the sole discretion of the Board, or such designated committee thereof and may be paid in cash or, if mutually agreeable to the Board (or such designated committee thereof) and the Employee, in stock, other securities of the Company, or other assets of the Company and upon such other terms as they may mutually agree.
Bonus Arrangements. (i) By agreeing to the new arrangements, you will also waive your entitlement to payments earned in the first two quarters under the 2002/03 Senior Management Incentive Plan.
(ii) The provisions of this paragraph (ii) will last for eighteen months starting on the Effective Date. As mentioned above, in addition to any entitlement under clause 16.2 of the service agreement (which relates to the Company making a payment in lieu of contractual notice), if:
(a) within eighteen months commencing on the Effective Date[the Company][Miranda Communications Inc.] elects (with or without notice) to terminate your employment by making a payment to you in lieu of notice (under clause 16.2(a) or (b) of the new service agreement) or (within the same period) [the Company][Miranda Corporation Inc.] terminates your employment by giving notice (under clause 2.4(a) of the new service agreement); and
(b) on the expiry of the notice period or the Notional Notice Period (each being on EXPIRY DATE), no rights have vested to you under the Management Plan and none are due to vest subject to purely time-based vesting conditions. then within seven working days after the Expiry Date [the Company] will pay you an amount equal to the entitlement to payments earned in the first two quarters under the 2002/2003 Senior Management Incentive Plan (in total [ ] of your basic salary) which you waived under paragraph (i) above. For your rights under the Management Plan on termination of employment, you should refer to the enclosed rules of the Management Plan. Nothing in this letter will oblige [the Company] [Marconi Communications Inc.] to make any payment to you under this paragraph (ii) if [the Company] [Marconi Commincations Inc.] terminates your employment under clause 16.4 (termination for cause). You should also be aware that your award under the Management Plan is intended to provide your total variable compensation during the life of the Management Plan; it is not therefore currently anticipated that you will participate in any cash bonus plan operated within the new group until there are no outstanding but unvested option under the Management Plan. Clause 5 of the service agreement has been amended to reflect these arrangements.
Bonus Arrangements. (i) Performance Bonuses. Parent shall be solely responsible for payment of prorated bonus incentive payouts based on actual performance as of the Closing Date pursuant to all 2010 Parent-sponsored incentive bonus plans for Performance Packaging.
(ii) Change of Control Bonuses. Parent shall be solely responsible for the payment of those bonuses described in Exhibit 5.1(f)(ii)(1), and Buyer shall be solely responsible for the payment of those bonuses described in Exhibit 5.1(f)(ii)(2).
Bonus Arrangements. CHP shall have received satisfactory evidence that all bonus plans under which officers, directors or employees of the Advisor or the Development Company are beneficiaries have been terminated as of the Closing Date;
Bonus Arrangements. Employee shall be entitled to participate in any performance-based bonus plan or other bonus arrangements maintained by the Company for its executive employees as determined by the Company’s Compensation and Stock Option Committee. In the event the Company does not maintain such a plan or arrangement, Employee will be eligible for such discretionary bonuses as may be determined from time to time by the Compensation and Stock Option Committee of the Board of Directors of the Company. Any such bonus will be payable in accordance with the terms of such bonus plan or arrangement or, if there is no such plan or arrangement, within 2½ months after the end of the fiscal year of the Company to which it relates but in no event later than the end of the calendar year in which such fiscal year ends.
Bonus Arrangements. 7.1 Recipharm AB and Recipharm acknowledge that Consort operates annual bonus arrangements (the
7.2 In respect of the financial year ending 30 April 2020, Recipharm AB and Recipharm agree that the annual bonus amount due to any participant in the Bonus Arrangements will in respect of the period to the Effective Date be determined by the Consort Remuneration Committee before the Effective Date, and in respect of the remaining period, will be determined by the Recipharm AB Remuneration Committee. For the avoidance of doubt, no amendments will be made to the existing terms of the Bonus Arrangements.
7.3 Recipharm AB and Recipharm agree that such bonus amounts will be paid at the normal time, provided the individual remains in employment with the Consort Group as at the payment date, save that if an individual has left employment with the Consort Group other than "for cause" or by reason of voluntary resignation before such date the bonus amount will be paid with the payment of the individual's other severance payments.
Bonus Arrangements. Executive shall be entitled to participate in any performance-based bonus plan or other bonus arrangements maintained by the Company for its executive employees as determined by the Company’s Compensation and Stock Option Committee. In the event the Company does not maintain such a plan or arrangement, Executive will be eligible for such discretionary bonuses as may be determined from time to time by the Compensation and Stock Option Committee of the Board of Directors of the Company. In addition to the foregoing, Executive shall be entitled to receive a performance-based bonus of up to twenty-five percent (25%) of Basic Compensation, as determined by the Company’s Compensation and Stock Option Committee and Chief Executive Officer, at the end of each fiscal year of service based upon Executive’s performance including, without limitation, consideration of the following criteria: the Company’s actual results of operations compared with the Company’s business plan as adopted by the Company’s Board of Directors; restaurant development; and management retention. Any such bonus will be payable in accordance with the terms of such bonus plan or arrangement or, if there is no such plan or arrangement, within 2½ months after the end of the fiscal year of the Company to which it relates but in no event later than the end of the calendar year in which such fiscal year ends.
Bonus Arrangements. Executive will be eligible to participate in Samson’s annual discretionary bonus program, subject to the terms and conditions thereof (including continued employment through the bonus payment date); PROVIDED that, in no event shall the Annual Bonuses determined for Executive for the fiscal year ending December 31, 2013 be less than $450,000.00, so long as Executive remains employed through the Annual Bonus payment date (the “2013 Guaranteed Bonus”). Any Annual Bonus payable to Executive shall be less applicable tax withholdings.
Bonus Arrangements. In addition to the base salary provided for in Paragraph 4 hereof, the Employee shall be entitled to the following bonuses:
a. The Employee shall be paid an up front cash bonus of $75,000 (less applicable taxes) (the "Bonus") payable in lump sum upon her relocation to Fairfield County, Connecticut or its vicinity, contingent upon Employee's fulfillment of her obligations under the initial two (2) year term of this Agreement. In the event Employee's employment is terminated either voluntarily or for cause during the initial two year term of this Agreement, Employee shall be required to repay the Bonus pursuant to the following schedule;
i. 100% of the Bonus if employment is terminated prior to December 31, 1996:
ii. if employment has not terminated on December 31, 1996, then Employee shall have earned and will not be required to repay $37,000 of the Bonus;
iii. if employment is terminated subsequent to December 31, 1996 but prior to the expiration of the initial two year term of this Agreement, Employee shall have to repay $38,000 of the Bonus, provided, however, that Employee will be deemed to have earned and shall not be required to repay $1,900 of said $38,000 for each and every month beyond December 31, 1996 that employment has not terminated. For example, if employment terminates on March 31, 1997 (i.e., 3 months after December 31, 1996), Employee shall have earned an additional $5,700 of the Bonus and will be required to pay back to the Company $32,300. Employee agrees that, in the event Employee's employment is terminated within the above designated period and the applicable amount of the Bonus is not repaid to the Company by Employee, in whole or in part, then the Company may offset the amount owed against any payments due to the Company from Employee, including, without limitation, salary or bonus. However, such right of offset shall not be the sole or exclusive means of recovery of repayments owed to the Company by Employee, and the Company, or its assigns shall retain all other rights and remedies which may be available.
b. The Employee shall be entitled to participate as a Level II employee in the Performance Retention Program of the Company approved by the Bankruptcy Court by order dated March 27, 1996, subject to the terms and conditions of such program as from time to time in effect.
c. The Employee shall be entitled to participate in cash bonus arrangements, such as the Performance Incentive Plan ("PIP") applicable to her position during the...
Bonus Arrangements. The Corporation shall pay Xxxxxxxxx a bonus (the "Bonus") of Three Hundred Fifty Thousand Dollars ($350,000) on December 31, 1993. In the event of the termination of Xxxxxxxxx'x employment for any reason, including, without limitation, Xxxxxxxxx'x death, prior to December 31, 1993, the Bonus shall nevertheless be payable on such date. In the event of Xxxxxxxxx'x death prior thereto, the Bonus shall be payable to such person or persons as may be designated by Xxxxxxxxx in writing delivered to the Corporation, and in the absence of such written designation, to Xxxxxxxxx'x estate.
