Certain Bonus Payments. (a) Except to the extent otherwise provided in Section 10.1, annual incentive bonuses in respect of 2015 shall be paid to RemainCo Employees and SpinCo Employees by RemainCo and SpinCo, respectively, at the time such bonuses are normally paid (but no later than March 15, 2016) in accordance with the bonus pools determined by the Compensation Committee of the respective Board of Directors. The annual incentive bonuses in respect of 2015 for RemainCo Employees and SpinCo Employees who were employed by the RemainCo Group during 2015 prior to the Distribution Date shall be bifurcated. Each such individual’s bonus shall be the sum of: (i) the bonus based on the applicable bonus plan provisions, prorated for the period between January 1, 2015 and the Distribution Date, and (ii) the bonus based on the applicable bonus plan provisions, prorated for the period between the day after the Distribution Date and December 31, 2015.
(b) SpinCo shall assume responsibility for the grant of 2015 bonuses and liability for payment of bonuses to the individuals listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx Executive Incentive Compensation Plan and The Xxxxxxx & Xxxxxx Company Management Incentive Plan. RemainCo shall maintain liability for payment of bonuses to individuals other than those listed on Schedule 3.7(b) earned under The Xxxxxxx & Xxxxxx Executive Incentive Compensation Plan and The Xxxxxxx & Xxxxxx Company Management Incentive Plan. SpinCo shall assume responsibility for the grant of 2015 bonuses and liability for payment of bonuses to SpinCo Employees earned under the The Xxxxxxx & Xxxxxx Company Salaried Employees Incentive Plan. RemainCo shall maintain liability for payment of bonuses to individuals other than the SpinCo Employees earned under The Xxxxxxx & Xxxxxx Company Salaried Employees Incentive Plan.
Certain Bonus Payments. SSE shall assume responsibility for the grant of 2014 bonuses and liability for payment of bonuses for all SSE Employees earned under the CHK annual bonus plan, including any transition bonuses for SSE Employees. The 2014 annual incentive plan bonus opportunity of Xxxxx X. Xxxxxxxxxx under the CHK annual bonus plan shall be cancelled, and SSE or a member of the SSE Group shall be responsible for payment of the 2014 annual bonus to such individual under a plan or arrangement maintained by SSE or a member of the SSE Group.
Certain Bonus Payments. (a) The Controlling Sellers shall be liable for payment of and shall, through the Sellers' Representative, remit to Buyer, in accordance with this Section 2.15, an amount equal to twenty-five percent (25%) of the bonus amounts actually paid or to be paid to employees of the FCS Companies and attributable to the 1997 calendar year, together with an amount equal to the employer portion of tax and withholding liabilities, provided, however, that the total amount of such employee bonus liability shall not exceed $40,000 (the "Pre-Effective Time Employee Bonus Amount.") Within ninety (90) days after December 31, 1997, Buyer shall provide to Sellers' Representative a billing statement stating the Pre-Effective Time Employee Bonus Amount, to which statement Buyer shall attach a list of the employees who have earned such a bonus payment and the amount of such bonus payment for each employee. Within 30 days from the date of such billing statement, Sellers' Representative shall remit in cash to Buyer the full amount of the Pre-Effective Time Employee Bonus Amount due to Buyer pursuant to this Section 2.15(a).
(b) The Controlling Sellers shall be liable for a portion of the Bonus Commissions to be paid to the brokers receiving Bonus Commissions from the FCS Companies ("FCS Brokers") for the 1997 calendar year (the total of such Bonus Commissions for the 1997 calendar year shall be referred to as the "Total 1997 Bonus Commissions"), such portion ("Pre-Effective Time Broker Bonus Amount") to be calculated according to the following formula: The sum of a and b, divided by c, multiplied by (d), where "a" is: an amount equal to the brokerage commissions collected during calendar year 1997 by the FCS Companies before the Effective Time, net of Base Commissions paid to "in-house" brokers; where "b" is: an amount equal to the portion of the FCS Closing Receivables collected by Buyer in 1997 that is attributable to brokerage commissions, net of Base Commissions paid to "in-house" brokers;
Certain Bonus Payments. Notwithstanding anything to the contrary contained in this Agreement, the Company in its sole discretion may pay, from its available cash reserves, cash bonuses to any of its employees, officers, directors or consultants, not to exceed $450,000 in the aggregate. For the avoidance of doubt, such bonuses shall be in addition to, and shall not reduce or set off, (x) any portion of the Aggregate Common and Option Bonus Cash Consideration or (y) any ordinary course compensation otherwise payable to such persons.
Certain Bonus Payments. (a) Annual incentive bonuses in respect of calendar year 2014, prorated for the period commencing on January 1, 2014 and ending on the Distribution Date, shall be paid to SLM BankCo Employees and NewCo Employees by SLM BankCo and NewCo, respectively, at the time such bonuses are normally paid in accordance with the bonus metrics determined by the compensation committee of the board of directors of SLM BankCo (the “2014 Pre-Spin Bonus”). Each employee’s 2014 Pre-Spin Bonus shall be based on actual performance results based on the bonus metrics set by the compensation committee of the board of directors of SLM BankCo, as such performance is certified by the board of directors of SLM BankCo, for the period commencing on January 1, 2014 and ending on the last day of the full calendar quarter preceding the Distribution Date.
(b) SLM BankCo shall assume responsibility and liability for payment of 2014 Pre-Spin Bonuses to the individuals listed on Schedule 3.7(b). NewCo shall assume responsibility and liability for payment of 2014 Pre-Spin Bonuses to individuals other than those listed on Schedule 3.7(b).
(c) Any other cash bonuses accrued or earned as of the Distribution Date but not yet paid shall be paid following the Distribution Date by SLM BankCo in the case of SLM BankCo Employees and Former SLM BankCo Employees or by NewCo in the case of NewCo Employees and Former NewCo Employees at such time and in such amount as is prescribed by the terms of the applicable bonus arrangement.
Certain Bonus Payments. After the conclusion of the fiscal year of Seller that includes the Closing Date, and within thirty (30) days after Purchaser's receipt of notice from Seller that such bonus payments have been approved by the board of directors of Tyco International, Ltd., Purchaser shall pay to each of the Transferred Employees a cash bonus that is determined by (a) multiplying the amount that is set forth opposite each Transferred Employee's name on Schedule 6.1.6 by the number of days between the Closing Date and the last day of the fiscal year of Seller that includes the Closing Date and (b) dividing such product by three hundred and sixty-five (365).
Certain Bonus Payments. On execution of this Agreement, and in partial consideration for assistance which has already been provided by Contractor (which shall nonetheless be deemed to have been provided pursuant to the terms and conditions of this Agreement) Contractor shall be entitled to receive and Participant shall be obligated to pay Contractor, the first bonus payment in an amount of Three Million Five Hundred Sixty Two Thousand and Five Hundred Dollars ($3,562,500) ("Bonus Payment 1"), where W equals the U.S. Dollar price of one share of Participant Common Stock as valued, on the date of signing this Agreement, which Bonus Payment shall be deemed to be fully vested. HOWEVER, Contractor has agreed to defer receipt of the full amount of this Bonus Payment 1 until, and Participant shall accordingly deliver the Bonus Payment 1 to Contractor, one (1) year after the date of this Agreement, or prior thereto upon termination of this Agreement if that is to occur earlier.
Certain Bonus Payments. (a) The Compensation Committee of the Board of Directors of RemainCo shall determine the annual incentive bonuses in respect of 2020 payable to eligible RemainCo Employees, Former RemainCo Employees, SpinCo Employees and Former SpinCo Employees prior to the Distribution Date, which annual incentive bonuses shall be payable at the time determined by the Compensation Committee of the Board of Directors; provided, however, that such annual incentive bonuses shall be payable no later than 21⁄2 months after the end of 2020, so as to continue to be exempt from Section 409A of the Code.
(b) SpinCo shall assume responsibility for the payment of bonuses to SpinCo Employees, Former SpinCo Employees and the individuals listed on Schedule 3.7(b) earned under RemainCo’s annual incentive plan (“SpinCo Bonus Obligations”). RemainCo shall retain responsibility for the payment of bonuses to RemainCo Employees and Former RemainCo Employees earned under RemainCo’s annual incentive plan. To the extent any of the SpinCo Bonus Obligations are paid by RemainCo, SpinCo shall promptly reimburse RemainCo for all such payments, including RemainCo’s share of the related payroll taxes, but in no event later than 30 days following SpinCo’s receipt of RemainCo’s written notice of such payments.
Certain Bonus Payments. (a) The Compensation Committee of the Board of Directors of RemainCo shall determine the annual incentive bonuses in respect of 2020 payable to eligible RemainCo Employees, Former RemainCo Employees, SpinCo Employees and Former SpinCo Employees prior to the Distribution Date, which annual incentive bonuses shall be paid at the time such bonuses are normally paid in accordance with the applicable bonus plans and the bonus pools.
(b) SpinCo shall assume responsibility for the payment of bonuses to SpinCo Employees, Former SpinCo Employees and the individuals listed on Schedule 3.7(b) earned under RemainCo’s annual incentive plan. RemainCo shall retain responsibility for the payment of bonuses to RemainCo Employees and Former RemainCo Employees earned under RemainCo’s annual incentive plan.
Certain Bonus Payments
