Certain Incentive Compensation Clause Samples
The 'Certain Incentive Compensation' clause defines the terms under which an employee or contractor is eligible to receive additional compensation based on performance or achievement of specific goals. Typically, this clause outlines the criteria for earning bonuses, commissions, or other incentive payments, such as meeting sales targets or completing projects ahead of schedule. Its core function is to motivate individuals to achieve desired outcomes by providing clear guidelines for earning extra compensation, thereby aligning their interests with those of the organization and reducing ambiguity around incentive payments.
Certain Incentive Compensation. AGSA’s Annual Incentive Bonus Plan and the Long Term Incentive Plan (which, for the avoidance of doubt, is in effect prior to the date hereof and is not the Executive Long Term Incentive Plan) shall be AGSA Retained Plans; provided that (i) the amount of any payments due to current or former AMP Employees under the Annual Incentive Bonus Plan and the AGSA Long Term Incentive Plan shall be determined under the plans, and in the ordinary course of business, consistent with past practice, and in consultation with AMPSA and (ii) the cost of any payments due to current or former AMP Employees under the Annual Incentive Bonus Plan and the AGSA Long Term Incentive Plan shall be borne by an AMP Entity.
Certain Incentive Compensation. Seller shall be responsible for the payment of all earned commissions for a Transferred Employee with respect any Pipeline Mortgage that is closed within 120 days of the Closing Date. Such payments shall be made in accordance with the Seller’s standard payroll practices and the associated commission plan .
Certain Incentive Compensation. Not later than fifteen (15) days following the end of each month that a Transferred Employee becomes entitled to incentive compensation with respect to a Pipeline Mortgage Loan pursuant to Section 8.7(b)(iv), Seller shall (i) notify of the Purchaser of the amounts of incentive compensation to which each Transferred Employee is entitled with respect to such month and (ii) subject to Purchaser’s confirmation that the Transferred Employee continues to be employed by Purchaser, Seller shall deposit cash in the aggregate amount of such incentive compensation to the Purchaser’s demand deposit account maintained with Seller pursuant to Section 4.9(e).
Certain Incentive Compensation. (a) After the Closing, Buyer shall from time to time cause incentive compensation, in the forms described in subsection (b), to be paid to employees of the Phoenix Communications Division (potentially including ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇) selected from time to time by ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ (or if neither ▇▇▇▇▇▇▇▇▇ or ▇▇▇▇▇ is not then employed by Buyer or a Person related to Buyer, by the chief executive officer of the successor of the Acquired Companies).
(b) Subject to subsection (c), the incentive compensation described in this section (b) means: (i) one-ninth (1/9) of the amounts payable under Earnout Notes, such amounts to be paid simultaneously with payments under the Earnout Notes, and (ii) one ninth (1/9) of the warrants to be issued under the Employment Agreements, such warrants to be granted immediately after the Closing.
(c) Amounts described in clause (i) of subsection (b) which, but for this subsection (c), would be payable to a Person who is no longer employed by the Phoenix Communications Division, shall instead be paid to Persons selected as described in subsection (a) (or, failing any such selection, equally to ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇). It is contemplated that a portion of the Warrants granted to ▇▇▇▇▇▇▇▇▇ and ▇▇▇▇▇ as described in Section 11.3(b)(ii) above will be assigned to key employees of the Acquired Companies provided certain criteria and conditions are met.