Bonus Plan Payments Sample Clauses

Bonus Plan Payments. (a) Bonuses will be paid semi‑annually, on or before the last Friday prior to July 1 and the last Friday prior to the start of the winter shutdown period. The bonus payment prior to Christmas will be based on hours paid between June 1 and November 30, and the payment prior to July 1 will be based on hours paid between December 1 and May 31. To be eligible for payment, the employee must be on the Company payroll at the time of paying except in cases of retirement or layoff. A discharge will cancel accumulated bonus as well as years of service with the Company. (b) The Company shall furnish to the member, at the time of seniority bonus distributions, a separate record of hours paid, rate of pay and period covered.
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Bonus Plan Payments. In connection with any payment of any portion of the Total Combined Transaction Payments pursuant to this Agreement, Keynote shall pay an amount of the Total Combined Transaction Payments equal to the Bonus Plan Liability to the persons and in the relative proportions set forth on Schedule 5.13 to the Vividence Disclosure Letter (the “Bonus Plan Participants”). Such payments pursuant to this Section 5.13 shall be in full satisfaction of all liabilities payable under the Vividence Incentive Bonus Plan, as amended and restated and approved by the Company’s Board of Directors on August 18, 2004. Keynote shall be entitled to deduct and withhold from any payments to the Bonus Plan Participants such amounts as may be required to be deducted or withheld therefrom under the Code or applicable state, local or foreign law. To the extent any such amounts or deducted or withheld, such amounts shall be treated for all purposes as having been paid to the person to whom such amounts would otherwise have been paid. It is acknowledged and agreed by the parties that the Bonus Plan Participants shall have no interest in the Escrowed Funds, the Escrowed Lease Funds or the Total Earnout Payment until such time as any such funds become payable to the Bonus Plan Participants pursuant to the terms of this Agreement. It is expressly understood that participation under the Vividence Incentive Bonus Plan is not intended to serve as compensation for any future services to Keynote or the Surviving Corporation and shall not be deemed to require Keynote to make any offer of employment to any Bonus Plan Participant, shall not constitute a guarantee of any employment by Keynote and shall not otherwise affect such participant’s status as an “at-will” employee of Keynote, if such participant is employed by Keynote after the Closing.
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Bonus Plan Payments. The Bonus Plan Cash Consideration and the Bonus Plan Equity Consideration shall be allocated to the Bonus Plan Participants as set forth on the Spreadsheet with respect to their participation in the Bonus Plan, in satisfaction of the Company’s accrued Liability to such Bonus Plan Participants under the Bonus Plan; provided, that Acquiror shall have timely received all signatures and consents reasonably necessary for such issuance. Acquiror shall distribute the shares of Acquiror Common Stock and amount of cash allocated to each respective Bonus Plan Participant (as set forth on the Spreadsheet and subject to the limitations imposed by the Bonus Plan) with such distribution and allocation to be completed as promptly after the Closing Date as reasonably possible (but in no event shall Acquiror be required to make such distribution and allocation earlier than ten (10) days after the Closing Date) (the “Bonus Plan Consideration Delivery Date”). Acquiror shall be entitled to deduct and withhold from the amount of the Bonus Plan Equity Consideration to be distributed and the amount of Bonus Plan Cash Consideration to be allocated to any Bonus Plan Participant as contemplated by this Section 6.6: (i) the amounts required to be deducted and withheld under the Code, or any provision of state, local or foreign tax law and (ii) the number of shares that Acquiror is entitled to withhold pursuant to Section 2.4 and ARTICLE 12.
Sample 1
Bonus Plan Payments. (a) On each of the dates hereof, October 3, 1998, April 3, 1999, April 3, 2000 and October 3, 2000 (each, a "Payment Date" and collectively, the "Payment Dates'), amounts are to be distributed by the Shareholders' Representative to participants under the Plan (the "Participants") in such amounts and at such times as set forth on EXHIBIT A, net of all withholding taxes and deferrals under CCAi's 401k plan or other benefit plans (the "Bonus Plan Payments"); provided, however, that if a Termination Event (as defined in the Plan) has occurred with respect to a Participant, such Participant shall no longer be entitled to receive any future Bonus Plan Payments. (b) Promptly after a Termination Event has occurred with respect to a Participant, CCAi will send a letter to the Escrow Agent stating the name of the former Participant, the date on which such termination is to be effective and the reasons for such termination. The letter shall be signed by an executive officer of CCAi or KLA. (c) If, after giving effect to the Initial Deposit and the CCAi Bonus Plan Deposits, the Escrow Account does not contain sufficient funds to make a scheduled Bonus Plan Payment, the additional amount required to make the Bonus Plan Payment(s) shall be deposited into the Escrow Account by the Contributors as required by and in accordance with the terms of the Memorandum of Understanding. (d) Beginning with the October 3, 1998 Bonus Plan Payment, and after each such Payment Date, if, immediately alter the Escrow Agent has made all such Bonus Plan Payments, any funds remain in the Escrow Account, such additional funds shall be deposited in and distributed pursuant to the provisions of that certain Disbursement Agreement dated as of April 3, 1998.
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Bonus Plan Payments. After the Closing, Seller shall fully satisfy any and all of its obligations under the Transaction Bonus Plan, the Sales Incentive Plan and the Team Compensation Plan, including making timely payment in full of any and all Bonus Plan Payments if and when earned, properly reporting such Bonus Plan Payments as compensation for services on all required Tax Returns and filings, and paying and withholding all required Taxes thereon, including social security, Medicare, unemployment and other employment, withholding and payroll Taxes and similar amount owed as a result of such Bonus Plan Payments, in each case in accordance with the terms and subject to the conditions of the Transaction Bonus Plan, the Sales Incentive Plan and the Team Compensation Plan, as applicable.
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Bonus Plan Payments. “Bonus Plan Payments” shall mean all amounts payable after the Closing under the Transaction Bonus Plan, the Sales Incentive Plan and the Team Compensation Plan.
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Related to Bonus Plan Payments

  • 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.

  • 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.

  • Separation Payments and Benefits Provided that Executive: (x) executes this Agreement and returns a copy of this Agreement that has been executed by Executive to the Company so that it is received by Cameron Turtle, Chief Operating Officer, 221 Crescent Street, Built 17, Suite 102B, Waltham, MA 02453 (email: ) no later than 5:00 pm CT on September 22, 2023; (y) does not revoke this Agreement during the Release Revocation Period (as defined below); and (z) remains in compliance with the other terms and conditions set forth in this Agreement (including under Section 5), Executive shall receive the following separation payments and benefits: (a) the Company shall pay to Executive aggregate severance payments of $623,000 (the “Severance Amount”), which Severance Amount shall be paid through salary continuation in equal installments in accordance with the Company’s standard payroll procedures, with the initial payment to occur on the first payroll date following the 60th day following the Separation Date, with the first installment to include a catchup payment for amounts covering the period from the date of Separation Date through the first payment date; (b) if Executive timely elects continued coverage under the Consolidated Omnibus Budget Reconciliation Act (“COBRA”), the Company shall pay the full amount of Executive’s COBRA premiums on behalf of the Executive for the Executive’s continued coverage under the Company’s health, dental and vision plans, including coverage for the Executive’s eligible dependents, for the Severance Period (as defined in the Severance Agreement); (c) the Company shall pay to Executive a lump sum payment of $168,246.58 (the “Retention Bonus”) in accordance with the terms of that certain Incentive Agreement between Executive and the Company dated June 21, 2023 (the “Incentive Agreement”), which Retention Bonus shall be paid following the expiration of the Release Revocation Period but in no event later than December 31, 2023; (d) effective as of the last day of the Consulting Period, all unvested Options scheduled to vest within the 12-month period following the last day of the Consulting Period shall immediately become fully vested and exercisable; (e) all vested Options (after giving effect to Section 2(d) and Section 5(c)) will remain outstanding for six months following the last day of the Consulting Period and may be exercised during such period in accordance with the terms of the Award Agreements; and (f) in the event that any sale, licensing, disposition, or monetization transaction or multiple transactions relating to pegtarviliase or any of the Company’s legacy development-stage assets is consummated prior to June 23, 2024, then, and only then, the Company will pay to Executive a cash bonus equal to: (i) 1.0% of the value of the upfront consideration received by the Company in such transactions, plus (ii) 0.5% of the risk-adjusted net present value of the contingent consideration payable to the Company in such transactions, in each case, to be paid within 30 days of the end of the calendar quarter in which such transaction is consummated, in each case, in accordance the parameters established by the Compensation Committee of the Board of Directors of the Company on August 1, 2023. Executive acknowledges and agrees that the consideration referenced in this Section 2 represents the entirety of the amounts Executive is eligible to receive as severance pay and benefits from the Company or any other Company Party pursuant to the Severance Agreement and otherwise.

  • 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.

  • Compensation & Payment 8.4.1. Should the claim be found proven; settlement is executed only in the form of compensation payment added to the Client trade account. 8.4.2. Compensation shall not compensate the profit not received by the Client in the event that the Client had an intention to perform some action but has not performed it for some reason. 8.4.3. The Company shall not compensate non-pecuniary damage to the Client. 8.4.4. The Company adds a compensation payment to the Client trading account within one working day since the moment of making a positive decision on the dispute situation.

  • 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.

  • Separation Payments Following Executive’s separation from service with Company on or after his Vesting Date (as defined in Section 7), Company shall pay to Executive the sum of THIRTY-SEVEN THOUSAND THREE HUNDRED SIXTEEN and 74/100 Dollars ($37,316.74) per month, beginning six months and one week after Executive’s date of separation for a period of ten (10) years, or until Executive’s death, whichever first occurs (the “Separation Payments”). Such payments shall be subject to any and all applicable withholding, Social Security, employment, income and other taxes or assessments, if any, under the applicable tax law. If Executive should die during the ten-year period during which payments are being made under this Paragraph 3, then those payments shall terminate and future payments, if any, shall be made to Executive’s designated beneficiary(ies) or Executive’s estate in accordance with the provisions of Paragraph 4 of this Agreement.

  • 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.

  • 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.

  • 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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