Bonus Forfeiture Sample Clauses

Bonus Forfeiture. In the event that Employer shall not have filed the shelf registration statement with respect to its initial public offering within 120 days after the Effective Date or such shelf registration statement has not been declared effective by the Securities and Exchange Commission within 210 days after the Effective Date, other than as a result of the Securities and Exchange Commission being unable to accept filings, then Executive shall forfeit one percent (1%) of any cash bonus earned by Executive as a result of performance with respect to Employer’s 2005 fiscal year, whether pursuant to this Agreement or a bonus plan or any other bonus arrangement maintained by Employer, for each business day the registration statement has not been filed or declared effective following the 120-day or 210-day period, as applicable; provided, however, that the maximum amount of cash bonus that shall be subject to forfeiture in accordance with this Section 5(i) is $380,000. Notwithstanding any provision of this Agreement or any bonus plan or policy of Employer, any cash bonus earned by Executive as a result of performance with respect to Employer’s 2005 fiscal year shall be paid to Executive on July 1, 2006.
Sample 1
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Bonus Forfeiture. If Employee willfully breaches the confidentiality or non-competition provisions of this Agreement, Employee's right to any unpaid bonus, whether or not accrued, shall terminate and cancel the Company's obligation to make such payment.
Sample 1
Bonus Forfeiture. In the event that Employer shall not have filed the shelf registration statement with respect to its initial public offering within 120 days after the Effective Date or such shelf registration statement has not been declared effective by the Securities and Exchange Commission within 210 days after the Effective Date, other than as a result of the Securities and Exchange Commission being unable to accept filings, then Executive shall forfeit one percent (1%) of any cash bonus earned by Executive as a result of performance with respect to Employer’s 2005 fiscal year, whether pursuant to this Agreement or a bonus plan or any other bonus arrangement maintained by Employer, for each business day the registration statement has not been filed or declared effective following the 120-day or 210-day period, as applicable; provided, however, that the maximum amount of cash bonus that shall be subject to forfeiture in accordance with this Section 5(i) is $380,000. Notwithstanding any provision of this Agreement or any bonus plan or policy of Employer, any cash bonus earned by Executive as a result of performance with respect to Employer’s 2005 fiscal year shall be paid to Executive within 30 days following the date in 2006 that the amount of the forfeiture can be determined, but no later than December 31, 2006; provided, however, that if the amount of the forfeiture can be determined on or before the time that cash bonuses are to be paid to other employees of Employer under any bonus plan or policy of Employer, such bonus shall be paid to Executive at such time in 2006 as bonuses are paid to other employees of Employer pursuant to such bonus plan or policy.
Sample 1

Related to Bonus Forfeiture

  • Vesting; Forfeiture Subject to the terms and conditions of this Agreement and provided that the Participant continues to provide services until the Vesting Date (as defined below):

  • Term; Forfeiture a. Except as otherwise provided in this Agreement, to the extent the unexercised portion of the Stock Option relates to Optioned Shares which are not vested on the date of the Participant’s Termination of Service, the Stock Option will be terminated on that date. The unexercised portion of the Stock Option that relates to Optioned Shares which are vested will terminate at the first of the following to occur:

  • Forfeiture of Award 4.1 If, at any time during the Award Recipient’s employment by the Company or within 18 months after termination of employment, the Award Recipient engages in any activity in competition with any activity of the Company, or inimical, contrary or harmful to the interests of the Company, including but not limited to: (a) conduct relating to the Award Recipient’s employment for which either criminal or civil penalties against the Award Recipient may be sought, (b) conduct or activity that results in termination of the Award Recipient’s employment for cause, (c) violation of the Company’s policies, including, without limitation, the Company’s xxxxxxx xxxxxxx policy and corporate compliance program, (d) accepting employment with, acquiring a 5% or more equity or participation interest in, serving as a consultant, advisor, director or agent of, directly or indirectly soliciting or recruiting any employee of the Company who was employed at any time during the Award Recipient’s tenure with the Company, or otherwise assisting in any other capacity or manner any company or enterprise that is directly or indirectly in competition with or acting against the interests of the Company or any of its lines of business (a “competitor”), except for (A) any isolated, sporadic accommodation or assistance provided to a competitor, at its request, by the Award Recipient during the Award Recipient’s tenure with the Company, but only if provided in the good faith and reasonable belief that such action would benefit the Company by promoting good business relations with the competitor and would not harm the Company’s interests in any substantial manner or (B) any other service or assistance that is provided at the request or with the written permission of the Company, (e) disclosing or misusing any confidential information or material concerning the Company, (f) engaging in, promoting, assisting or otherwise participating in a hostile takeover attempt of the Company or any other transaction or proxy contest that could reasonably be expected to result in a Change of Control (as defined in the Plan) not approved by the CenturyTel Board of Directors or (g) making any statement or disclosing any information to any customers, suppliers, lessors, lessees, licensors, licensees, regulators, employees or others with whom the Company engages in business that is defamatory or derogatory with respect to the business, operations, technology, management, or other employees of the Company, or taking any other action that could reasonably be expected to injure the Company in its business relationships with any of the foregoing parties or result in any other detrimental effect on the Company, then the award of Restricted Stock granted hereunder shall automatically terminate and be forfeited effective on the date on which the Award Recipient engages in such activity and (i) all shares of Common Stock acquired by the Award Recipient pursuant to this Agreement (or other securities into which such shares have been converted or exchanged) shall be returned to the Company or, if no longer held by the Award Recipient, the Award Recipient shall pay to the Company, without interest, all cash, securities or other assets received by the Award Recipient upon the sale or transfer of such stock or securities, and (ii) all unvested shares of Restricted Stock shall be forfeited.

  • Performance Shares The Performance Shares earned by the Grantee will be determined and delivered to the Grantee as soon as practicable subsequent to the determination of the Corporation’s financial results for the Performance Cycle and approval by the Plan Administrator. The corresponding shares of the Corporation’s common stock will be purchased on the open market.

  • Performance Share Units The Committee may, in its discretion, grant to Executive performance share units subject to performance vesting conditions (collectively, the “Performance Units”), which shall be subject to restrictions on their sale as set forth in the Plan and an associated Performance Unit Grant Letter.

  • Forfeiture of Awards The Restricted Stock Units granted hereunder (and gains earned or accrued in connection therewith) shall be subject to such generally applicable policies as to forfeiture and recoupment (including, without limitation, upon the occurrence of material financial or accounting errors, financial or other misconduct or Competitive Activity) as may be adopted by the Administrator or the Board from time to time and communicated to the Employee or as required by applicable law, and are otherwise subject to forfeiture or disgorgement of profits as provided by the Plan.

  • Performance Share Award If your Award includes a Performance Share Award, and you voluntarily terminate your employment prior to the end of the Performance Period, you will forfeit your entire Performance Share Award. 

  • Performance Share Awards On the Performance Share Vesting Date next following the Executive's date of death, the number of Performance Shares that shall become Vested Performance Shares shall be determined by multiplying (a) that number of shares of Company Common Stock subject to the Performance Share Agreement that would have become Vested Performance Shares had no such termination occurred; provided, however, in no case shall the number of Performance Shares that become Vested Performance Shares exceed 100% of the Target Number of Performance Shares set forth in the Performance Share Agreement, by (b) the ratio of the number of full months of the Executive's employment with the Company during the Performance Period (as defined in the Performance Share Agreement) to the number of full months contained in the Performance Period. Vested Common Shares shall be issued in settlement of such Vested Performance Shares on the Settlement Date next following the Executive’s date of death.

  • Performance Stock Units The Company may grant to Executive performance stock units (“PSUs”) pursuant to the Incentive Plan. All PSUs are subject to and conditioned on approval of the grant and its terms by the Board. All granted PSUs shall vest as provided in the applicable PSU grant notice and grant agreement (“PSU Agreement”). All PSUs shall be subject to the terms and conditions of the Incentive Plan and a PSU Agreement in a form prescribed by the Company, which Executive must sign as a condition to receiving the PSUs.

  • Restrictions; Forfeiture The Restricted Shares are restricted in that they may not be sold, transferred or otherwise alienated or hypothecated until these restrictions are removed or expire as described in Section 5 or 6 of this Agreement. The Restricted Shares are also restricted in the sense that they may be forfeited to the Company (the “Forfeiture Restrictions”). You hereby agree that if the Restricted Shares are forfeited, as provided in Section 6, the Company shall have the right to deliver the Restricted Shares to the Company’s transfer agent for, at the Company’s election, cancellation or transfer to the Company.

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