Bonuses and Incentives. A. The parties acknowledge that schools may use Florida School Recognition Program funds to provide bonuses to employees, upon approval by the school’s staff and advisory council (see s.1008.36, Florida Statutes, 2018).
Bonuses and Incentives. Executive shall receive cash bonus payments from the Company for each calendar month during the Continuation Period in an amount equal to one-twelfth of the average of the bonuses paid to Executive under the executive bonus program(s) for the two calendar years immediately preceding the year in which his termination of employment occurs (“Average Bonus”). Executive will receive these payments (the “Average Bonus Payments”) on a semi-monthly basis, payable on the fifteenth day and the last day of each calendar month, in substantially equal installments, beginning on the earliest such payment date following the date of Executive’s termination of employment. Notwithstanding the foregoing, the payment of any portion of the Average Bonus Payments that (A) is not exempt from Code Section 409A, and (B) is payable (based on the payment schedule hereinabove) before, or within the six-month period immediately following, the date of Executive’s Section 409A Separation from Service, will be delayed and will be made in a single lump-sum cash payment upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service. Executive also shall receive a prorated bonus for the year in which Executive’s employment terminates. Such bonus shall be equal to (A) the Average Bonus multiplied by the number of days Executive worked in the year of his employment termination, (B) divided by 365 days (“Prorated Bonus”). The Prorated Bonus shall be paid in a lump sum in cash within 30 days after the date of Executive’s termination of employment. Notwithstanding the foregoing, if the Prorated Bonus (or any portion thereof) is not exempt from Code Section 409A, the Prorated Bonus (or such portion) will be paid in a single lump-sum cash payment upon the day after the six-month anniversary of Executive’s Section 409A Separation from Service. Any bonus amounts that Executive had previously earned from the Company but which may not yet have been paid as of the date of termination shall not be affected by this provision; provided, however, if the amount of the bonus for such prior year has not yet been determined, the bonus shall be an amount not less than the Average Bonus.
Bonuses and Incentives. Instead of the Average Bonus Payments described in Section 5(d)(ii) of this Agreement, Executive shall receive an amount equal to (A) the amount of such Average Bonus Payments payable each month (B) multiplied by 24. Such amount shall be paid to Executive in a lump-sum payment in cash (without discounting or any other adjustment for the time value of money) within 30 days after the date of Executive’s Section 409A Separation from Service. This Section 7(c)(ii) shall not affect any other provision of Section 5(d)(ii), including, without limitation, the terms of such provision relating to the Prorated Bonus.
Bonuses and Incentives. The Executive shall receive bonus payments from the Association for the thirty-six (36) months following the month in which his employment is terminated in an amount for each month equal to one-twelfth of the average ("Average Bonus") of the bonuses paid to him for the two calendar years immediately preceding the year in which such termination occurs. Any bonus amounts that the Executive had previously earned from the Association but which may not yet have been paid as of the date of termination shall not be affected by this provision. Executive shall also receive a prorated bonus of any uncompleted fiscal year at the date of termination equal to the Average Bonus multiplied by the number of days he worked in such year divided by 365 days. The bonus amounts determined herein (including the Average Bonus, any previously earned but unpaid bonus, and the prorated bonus for any uncompleted fiscal year) shall be paid in a single lump sum payment, to be paid not later than 30 days after termination of employment.
Bonuses and Incentives. The Executive shall receive any Annual Cash Bonus then earned (for a full fiscal year or prorated for a partial fiscal year) plus bonus payments from the Company for the thirty-six (36) months following the month in which his employment is terminated in an amount for each such month equal to one-twelfth of the average of the Annual Cash Bonuses paid to him for the two calendar years immediately preceding the calendar year in which such termination occurs (provided that calendar years prior to 1998 shall not be considered). Any Annual Cash Bonus that the Executive had previously earned but which may not yet have been paid as of the date of termination shall be due and payable. All such bonus amounts shall be paid in a single lump sum payment which shall be paid not later than ninety days after his termination.
Bonuses and Incentives. Executive shall receive bonus payments from the Company for each month of the Severance Period in an amount for each such month equal to one-twelfth of the average of the bonuses (“Average Bonus”) earned by him for the two fiscal years in which bonuses were paid (ignoring any fiscal year in which a bonus was not paid) immediately preceding the fiscal year in which such termination occurs (including, if applicable, any completed fiscal year for which the bonus has been earned but has not yet been paid). Any bonus amounts that Executive had previously earned from the Company but which may not yet have been paid as of the date of termination shall be payable on the date such amounts are payable to other executives and Executive’s termination shall not affect the payment of such bonus. Executive shall also receive a prorated bonus for any uncompleted fiscal year at the Date of Termination calculated based upon the Average Bonus and the number of days that he was employed during such fiscal year compared to 365. The bonus amounts determined herein shall be paid in a single lump sum payment, to be paid not later than 30 days after termination of employment; provided, that the amount of such lump sum payment representing the monthly bonus payments shall be determined by taking the monthly bonus payments to be made and discounting them to their Present Value on the date Executive’s employment under this Agreement is terminated.
Bonuses and Incentives. Employee shall receive bonuses based on the performance of the Company and Employee.
Bonuses and Incentives. During the Term, Executive will be entitled to participate in the following incentive programs:
Bonuses and Incentives. Tech will transfer to Fuels all obligations to the Fuels Employees, including Continuing Employees, with respect to the bonuses and incentives under any cash, annual, long-term, equity or similar incentive program in which the Continuing Employees participate for the plan year in which the Distribution Date occurs that are attributable to the period prior to the Distribution Date; provided, however, that, if requested by Tech, Fuels will make all cash payments in respect of any such program so long as Tech transfers to Fuels, as of the Distribution, all amounts payable in respect of such cash obligations that are attributable to the period prior to the Distribution and any associated Taxes payable by Fuels in connection with such cash payments (but Tech will not be liable for any Tax withholding except to the extent it is required to remit any such Tax withheld from any such bonuses and incentives to the appropriate Governmental Authority); provided further, however, that nothing herein will be deemed to require Fuels to assume any Tax Liabilities that are the sole responsibility of any Fuels Employee. Notwithstanding anything herein to the contrary, Fuels is responsible for all Continuing Employee compensation (including the forms of compensation described in this Section 4.4) attributable to periods following the Distribution.
Bonuses and Incentives. (h) Except as otherwise set forth in Section 6.05(b), Parent will retain all obligations to the Galleria Business Employees, including Continuing Employees, with respect to the bonuses and incentives under Parent’s Short Term Achievement Reward (STAR) bonus program, Long-Term Incentive (LTI) program, Key Manager Stock Option Program and any other cash, annual, long-term, equity or similar incentive program of Parent in which the Continuing Employees participate for the plan year in which the Closing Date occurs that are attributable to the period of such participation prior to the Closing; provided, however, that, if requested by Parent, Acquiror and SplitCo will cause the Galleria Group to make all cash payments in respect of any such program so long as Parent transfers to the Galleria Group, as of the Closing, all amounts payable in respect of such cash obligations that are attributable to the period prior to the Closing during which the Continuing Employees participated in such program and any associated Taxes payable by the Galleria Group in connection with such cash payments (but Parent will not be liable for any Tax withholding except to the extent it is required to remit any such Tax withheld from any such bonuses and incentives to the appropriate Governmental Authority).
