Completion Bonus. Except as provided below, on the condition that Executive remains employed by Employer, on a full-time, continuous basis, through February 29, 2012, Employer shall make a cash payment to Executive in the amount of $375,000 (the “Completion Bonus”). The Completion Bonus shall be paid to Executive within two (2) weeks after February 29, 2012. Notwithstanding the foregoing, if Executive’s employment is terminated prior to February 29, 2012 and such termination is: (a) due to Executive’s death, (b) on account of Executive’s incapacity pursuant to Section 11, (c) by Employer other than for Cause pursuant to Section 10, (d) by Executive for Good Reason pursuant to Section 10, or (e) due to a “Qualifying Termination” (as defined in the CIC Agreement) following a Change in Control, then Employer shall pay to Executive, within two (2) weeks after termination of his employment, a pro-rata portion of the Completion Bonus. Any pro-rated portion of the Completion Bonus shall be based upon the number of calendar days elapsed between the Effective Date and the date of termination divided by the total number of calendar days between the Effective Date and February 29, 2012.
Completion Bonus. On the condition that Executive remains employed by Employer, on a full-time, continuous basis, through February 28, 2011, Employer shall make a cash payment to Executive in an amount equal to the average annual Base Salary paid to Executive during the Term (“Completion Bonus”), subject to applicable taxes and withholdings as required by law. The Completion Bonus shall be paid to Executive within ten (10) days after February 28, 2011 (“Completion Bonus Payment Date”). Notwithstanding the foregoing, Employer shall pay a pro-rated portion of the Completion Bonus to Executive within two (2) weeks after termination of Executive’s employment if the effective date of such termination is prior to March 1, 2011 and such termination is: (i) due to Executive’s death, or (ii) on account of Executive’s incapacity pursuant to Section 11, or (iii) by Employer other than for Cause (as defined below), or (iv) due to Employer’s election not to renew this Agreement according to its terms for any Contract Year after February 28, 2009. Such pro-rated portion shall be based upon the number of calendar days elapsed between March 1, 2008 and the date of termination divided by the total number of calendar days between March 1, 2008 and February 28, 2011.
Completion Bonus. If you remain employed with the Company through the end of the Term, you will receive, in a single lump sum as soon as practicable after the end of the Term, 35% of your 1996 Plan earned bonus and 35% of your 1997 Plan earned bonus.
Completion Bonus. (a) The Employee shall receive a Completion Bonus in an amount equal to 100% of the Employee’s annual Base Salary if:
(i) a Definitive Agreement is signed prior to July 1, 2002;
(ii) the Employee is employed by the Company on the date the Definitive Agreement is signed; and
(iii) a Closing Date occurs under the terms of the Definitive Agreement; but only to the extent the Employee is employed on the payment dates provided for in paragraph (b) below. If the Completion Bonus (or any portion thereof) does not become payable pursuant to this paragraph (a), it shall be forfeited.
(b) A Completion Bonus that becomes payable to the Employee pursuant to paragraph (a) shall be paid as follows:
(i) one-third of the Completion Bonus shall be paid on the 90th day immediately following the Closing Date, if the Employee is employed by the Company on such date;
(ii) one-third of the Completion Bonus shall be paid on the first anniversary of the Closing Date, if the Employee is employed by the Company on such date; and
(iii) one-third of the Completion Bonus shall be paid on the second anniversary of the Closing Date, if the Employee is employed by the Company on such date; provided, that if the Employee’s employment is terminated by an Employer without Just Cause (as defined for the purposes of Section 9), or by the Employee for Good Reason (as defined in Section 11(c), but without regard to subparagraph (iv) thereof), on or after the date on which a Definitive Agreement is signed, the unpaid amount of the Completion Bonus shall be paid to the Employee within ten business days following the later of the Closing Date or the date of the Employee’s termination of employment.
(c) No Completion Bonus will be payable under this Section 3A if a Definitive Agreement has not been signed by July 1, 2002, or if the Sale or Merger contemplated by a Definitive Agreement has not been completed by the first anniversary of the date a Definitive Agreement is signed. A Completion Bonus payable under this Section 3A will not reduce any other compensation to which the Employee may become entitled under this Agreement.
Completion Bonus. In addition to the Fee payable as described in Section 2 above, upon completion of Real Time Platform for Option Portfolio Pro to the Company’s complete and sole satisfaction, Company will pay to Contractor, a completion bonus, in the amount of Forty Thousand Dollars and No/00 U.S. Dollars ($40,000.00).
Completion Bonus. Subject to the provisions of Section 6(g) hereof, upon the termination of employment of the Employee (whether during the term of this Agreement or thereafter) other than by Employer for Cause or by Employee without Good Reason, the Employee shall be entitled to receive a single sum payment in the amount of $200,000. The single sum payment shall be made to the Employee following expiration of the 409A Delay Period, as set forth in Section 6(g) below.
Completion Bonus. As soon as practicable following the execution of this Agreement, Executive shall receive a one-time completion cash bonus of Two Million dollars ($2,000,000) (the “Completion Bonus”). The Completion Bonus shall be subject to clawback by the Company as described in this Paragraph 3(e). If Executive voluntarily terminates his employment with the Company other than for Good Reason or the Company terminates Executive’s employment for Cause at any time during the three-year period following the Effective Date, Executive will be obligated to repay to the Company a pro-rated portion of the Completion Bonus within 15 days after such termination of Executive’s employment. The pro-rated amount Executive will be required to repay to the Company will be equal to the product of (a) the Completion Bonus and (b) a fraction, the numerator of which is 36 less the number of full months Executive worked for the Company after the Effective Date and the denominator of which is 36. To the extent permitted by Section 409A of the Code, the Company may set off any other amounts owed to Executive to satisfy (in whole or in part) any obligation Executive may have under this paragraph.
Completion Bonus. On the one-year anniversary of the Termination Date, the Company shall pay the Executive a lump sum completion bonus of $250,000, provided that all of the following conditions (A) through (D) are met:
(A) The Executive remains employed by the Company for the full 12 month Term of this Agreement; and
(B) The Executive continues in employment with the Company following the expiration of the Term; and
(C) The Executive’s employment with the Company is terminated by the Company without Cause during the 12-month period immediately following the expiration of the Term; and
(D) The Company and MSC determine, in their sole discretion, that the Executive did not breach any provision of the Confidentiality Agreement.
Completion Bonus. On or about February 28, 2009, Executive shall receive Fifty Thousand (50,000) Shares (the “Completion Shares”); provided, that (i) this Agreement is in effect on February 28, 2009 and has not been terminated for any reason (other than a breach of this Agreement by Employer); and (ii) Executive has fully performed all of Executive’s duties and obligations under this Agreement throughout the Term and is not in breach of any of the material terms and conditions of this Agreement. The Completion Shares shall be freely transferable when delivered to Executive subject to Employer’s securities trading policy and applicable federal and state law. Employer shall have the right, in its sole and absolute discretion, to pay to Executive the value of the Completion Shares (in the same manner applied to other senior management level employees) in cash in lieu of granting Executive the Completion Shares.”
8. Effective March 1, 2005, the parenthetical phrase in the fourth sentence of Section 11.4 shall be deleted and replaced with the following language: “(except the Options described in Section 6.3, which compensation shall not be included in the calculation of the lump sum payment)”
9. Effective March 1, 2006, the amount of Three Hundred Thousand Dollars ($300,000) set forth in Section 11.4 shall be increased to Three Hundred Forty One Thousand Five Hundred Dollars ($341,500).
10. In the third sentence of Section 11.5, the following language shall be deleted and shall be of no further force and effect: “or the transaction or transactions described in the definition of Change of Control in Exhibit B”
11. In Section 14, Gxxx Xxxxxx’x address has been changed to 3000 X. Xxxxx Xxxxxx, Xxxxx 0000, Xxxxxxx, Xxxxxxxxxx 00000.
Completion Bonus. On or about February 28, 2009, Executive shall receive Ten Thousand (10,000) Shares (the “Completion Shares”); provided, that (i) this Agreement is in effect on February 28, 2009 and has not been terminated for any reason (other than a breach of this Agreement by Employer); and (ii) Executive has fully performed all of Executive’s duties and obligations under this Agreement throughout the Term and is not in breach of any of the material terms and conditions of this Agreement. Notwithstanding the foregoing, the Compensation Committee may, but shall have no obligation to, increase the number of Completion Shares by an additional Ten Thousand (10,000) Shares based on the Compensation Committee’s subjective evaluation of Executive’s performance throughout the Term. The Completion Shares shall be freely transferable when delivered to Executive subject to Employer’s securities trading policy and applicable federal and state law. Employer shall have the right, in its sole and absolute discretion, to pay Executive the value of the Completion Shares (in the same manner applied to other senior management level employees) in cash in lieu of granting Executive the Completion Shares.”
6. The word “Argentina” shall be deleted from Section 10.2 and shall be replaced with the phrase “Slovakia, Bulgaria”.
7. In the third sentence of Section 11.4, the following language shall be deleted and shall be of no further force and effect: “or the transaction or transactions described in the definition of Change of Control in Exhibit A”
8. Effective March 1, 2006, Section 15.9 shall be deleted in its entirety and shall be of no further force and effect.
