Collaboration Bonus Sample Clauses
A Collaboration Bonus clause establishes a financial incentive for parties to work together effectively towards shared goals. Typically, this clause outlines specific criteria or milestones that must be met through joint efforts, such as completing a project ahead of schedule or achieving certain performance targets, in order for the bonus to be awarded. Its core practical function is to encourage cooperation and teamwork by directly linking collaborative success to additional compensation, thereby aligning the interests of all parties involved.
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Collaboration Bonus. All active employee will receive a special one-time collaboration bonus of $1,000 payable after the first- time ratification of the four (4) year Agreement, and an additional special one-time $1,000 collaboration bonus payable in January 2019. Payment of the second special one-time $1,000 collaboration bonus is contingent upon first-time ratification of the four (4) year Agreement.
Collaboration Bonus. You will be paid a one-time cash bonus in the amount of $250,000 in the event the Company executes a definitive agreement for a collaboration transaction on or before September 30, 2010, subject to your continued employment by the Company through the date such definitive agreement is executed, and provided that both of the following conditions are met as determined by the Board or the Compensation Committee in its good faith discretion: (i) the Company receives gross cash proceeds of at least $10,000,000 pursuant to such definitive agreement on or before September 30, 2010 and (ii) such definitive agreement includes a binding commitment of the collaborator to pay the Company total gross cash proceeds of at least $50,000,000 (including the payment referred to in clause (i) above) by no later than the third anniversary of the execution date of such definitive agreement (the “Collaboration Bonus”). For the avoidance of confusion, milestone-based or other contingent payments and royalty payments shall not be considered committed payments for purposes of determining whether the Collaboration Bonus has been earned. The Collaboration Bonus, if any, shall be paid within fourteen (14) business days following the execution of the definitive agreement for the collaboration transaction and the receipt of the payment referred to in clause (i) above.
Collaboration Bonus. The Collaboration Bonus (the “Collaboration Bonus”) for any calendar year shall be equal to 5% of IM Collaboration Revenue. As soon as practicable after the end of after the applicable calendar year, but in no event later than sixty (60) days following the end of such calendar year, the Company shall deliver to the Executive (i) a statement prepared by the Company of the calculation of the amount of the DRT Revenue Bonus and Collaboration Bonus; and (ii) supporting documentation of such calculations for the applicable period (collectively, (i) and (ii), the “Reconciliation”). The Bonus, if any, shall be paid to the Executive not later than thirty (30) days after delivery of the Reconciliation to the Executive. In addition to, and not in lieu of, the foregoing, the Executive shall have the right to participate in all employee bonus plans offered to other employees, and such other bonus payments as the Board, or the compensation committee of the Board, may approve in its sole discretion. Such bonus payments, if any, shall be paid at the same time paid to other recipients but in no event later than sixty (60) days after the end of the applicable calendar year or fiscal period. All bonuses payable under this Section 1.3(b) shall be, collectively, referred to herein as “Bonus.”
Collaboration Bonus. You will receive a cash bonus equal to 2% of any “upfront payment” on any collaboration agreement reached with a pharmaceutical company, so long as the negotiations were initiated during your employment with the company. For the sake of clarity, should the company receive an upfront payment of $10,000,000 to develop a drug for a pharmaceutical company, you shall receive a bonus equal to $200,000 upon receipt of the upfront payment.