Deferred Bonus. (i) The Executive shall be entitled to receive a deferred bonus (any full or partial payment hereunder, the “Deferred Bonus”), which shall accrue at the rate of $500,000.00 per year, accruing monthly for each calendar month of employment hereunder at the rate of $41,666.66 per month; provided that as of the date hereof the Company will credit the Executive with an amount equal to the difference between the deferred bonus accrued in 2011 prior to the date hereof pursuant to the Prior Employment Agreement and the portion of the Deferred Bonus that would have accrued during such period had this Agreement been entered into on January 1, 2011. Any amount accrued under this Section 3(c), together with any amount accrued under the Prior Employment Agreement with respect to the 2011 calendar year prior to the date hereof, has been or will be, as applicable, credited to a notional Deferred Bonus account (the “Deferred Bonus Account”). No interest or other earnings will accrue on the Deferred Bonus Account.
(ii) The Deferred Bonus that is accrued with respect to the period beginning on January 1, 2011 and ending on December 31, 2012 shall be paid to the Executive on December 31, 2012, subject to the Executive’s remaining continuously employed by the Company on such date. If the Executive’s employment with the Company terminates prior to December 31, 2012, the Executive’s right to, and the payment of, the Deferred Bonus shall be governed by subsection (iii) below. If the Executive receives a payment under the terms of this subsection (ii), upon such payment, the Company shall have no further obligation to the Executive with respect to the portion of the Deferred Bonus that is accrued with respect to the period beginning on January 1, 2011 and ending on December 31, 2012, and any Deferred Bonus accrued with respect to the period beginning on January 1, 2013 in accordance with the provisions of subsection (i) above shall be paid in accordance with the provisions of subsection (iii) below.
(iii) Subject to subsection (ii) above, the Deferred Bonus shall be payable on the earlier to occur of the date that is sixty (60) days following the expiration of the Employment Period hereunder, or the date that is sixty (60) (seventy-four (74) in the case of a termination of employment due to the Executive’s death) days following the earlier termination of the Executive’s employment as set forth in Section 5 hereinafter, except as otherwise set forth in Section 5.
(iv) The Executiv...
Deferred Bonus. In addition to any other deferred bonus plan in which the Executive may be entitled to participate, the Executive may elect by written notice delivered to the Company at least 15 days prior to the commencement of any calendar year during the term of employment during which an annual cash bonus would otherwise accrue or to which it would relate, to defer payment of and to have the Company credit to the Trust Account all or any portion of the Executive's bonus for such year. Any such election shall only apply to the calendar year during the term of employment with respect to which such election is made and a new election shall be required with respect to each successive calendar year during the term of employment.
Deferred Bonus. In addition to any other deferred bonus plan in which the Executive may be entitled to participate, the Executive may elect by written notice delivered to the Company at least 15 days prior to the commencement of any calendar year during the term of employment during which an annual cash bonus would otherwise accrue or to which it would relate (except that for calendar year 1999, such election shall be made no later than January 31, 1999), to defer payment of and to have the Company credit all or any portion of the Executive's bonus for such year to either the Trust Account or the Deferred Plan, or a combination of both, subject in the case of a deferral to the Deferred Plan to the terms and conditions of the Deferred Plan. Any such election shall only apply to the calendar year during the term of employment with respect to which such election is made and a new election shall be required with respect to each successive calendar year during the term of employment.
Deferred Bonus. Pursuant to the Prior Employment Agreement, Executive has been accruing a Deferred Bonus (as defined in the Prior Employment Agreement). Executive shall be paid all of the Deferred Bonus amount accrued through December 31, 2014 on January 1, 2015. Effective as of January 1, 2015, Executive shall no longer accrue Deferred Bonus compensation.
Deferred Bonus. (a) In addition to any other bonus or deferred compensation benefit described in Article III hereof, or to which Executive is otherwise entitled pursuant to another plan or arrangement with the Company, the Company agrees to credit two hundred thousand dollars ($200,000) (the “Deferred Bonus”) to Executive’s Retirement Account as deferred compensation under the Deferred Compensation Plan, subject to the terms and conditions hereof. The Deferred Bonus shall be credited as soon as practicable following the Effective Date.
(b) Notwithstanding anything to the contrary in the Deferred Compensation Plan, in the event Executive’s employment with the Company is terminated prior to expiration of the Initial Employment Period, Executive shall forfeit all of the Deferred Bonus, without payment of consideration by the Company, except as otherwise provided in Sections 3.6 (d) or (e) hereof. In the event a distribution is otherwise made from Executive’s Retirement Account pursuant to the rules set forth in the Deferred Compensation Plan prior to expiration of the Initial Employment Period, no portion of the Retirement Account traceable to the Deferred Bonus shall be eligible for distribution from the Retirement Account at such time, except as otherwise provided in Section 3.6(e).
(c) Subject to Section 3.6(f) hereof, provided Executive remains in the employ of the Company until expiration of the Initial Employment Period, Executive shall be entitled to receive a distribution of the Deferred Bonus after expiration of the Employment Period at the time and in the manner provided under the Deferred Compensation Plan.
(d) If, prior to March 31, 2008, either Executive terminates employment on account of Retirement, death, Disability or for Good Reason, or Executive is terminated by the Company on account of Disability or other than for Cause, Executive shall be entitled to receive a Pro Rata Deferred Bonus; provided, however, Executive shall be entitled to receive the Pro Rata Deferred Bonus only if he or she is not otherwise entitled to receive the entire Deferred Bonus pursuant to Section 3.6(e) hereof as of the Termination Date. Notwithstanding the foregoing, Executive agrees that payment of any Pro Rata Deferred Bonus is contingent upon the terms of Section 4.2(c) hereof. Payment of the Pro Rata Deferred Bonus is subject to deductions for customary withholdings, including, without limitation, federal, state and local withholding taxes, social security taxes and Medicare t...
Deferred Bonus. Commencing for the fiscal year ending December 31, 2007, on or before May 1 of each year during the Term hereof for which the Company’s annual EBITA targets are met for the preceding calendar year, the Company shall provide the Executive a deferred bonus (the “Deferred Bonus”) of $15,000. For every 1% the actual EBITA exceeds the annual EBITA target, the Deferred Bonus shall be increased by $1,000 up to a maximum aggregate Deferred Bonus of $30,000 annually. The Deferred Bonus shall be paid to a Rabbi Trust account in the Executive’s name and shall be paid in accordance with the Company’s Deferred Bonus Plan notwithstanding any termination of the Executive’s employment or other such event and, for the avoidance of doubt, shall be fully vested and not subject to forfeiture.
Deferred Bonus. The Corporation shall pay or cause Executive to -------------- receive a bonus (the "Deferred Bonus") in the aggregate amount of $187,500, payable in three (3) equal installments of $62,500 each on January 1, 1997, June 30,1997 and January 1, 1998.
Deferred Bonus. In addition to any other deferred bonus plan in which you may be entitled to participate, you may elect by written notice delivered to the Company at least 15 days prior to the commencement of any calendar year during the term of employment during which an annual cash bonus would otherwise accrue or to which it would relate, to defer payment of and to have the Company credit all or any portion of your bonus for such year to either the Trust Account or the Deferred Compensation Plan established by the Company on November 18, 1998, as the same may be amended from time to time (and as so amended, the "Deferred Plan"), or a combination of both, subject in the case of a deferral to the Deferred Plan to the terms and conditions of the Deferred Plan . Any such election shall only apply to the calendar year during the term of employment with respect to which such election is made and a new election shall be required with respect to each successive calendar year during the term of employment.
Deferred Bonus. This lease is issued subject to the payment of ____________ by the leasee as a deferred bonus. Payment of the deferred bonus by the lessee shall be made on a schedule specified in Section 31 (Special Stipulations)of this lease.
Deferred Bonus. In addition to any other deferred bonus plan in which Executive may be entitled to participate, the Executive may elect by written notice delivered to the Company at least 15 days prior to the commencement of any calendar year during the term of employment during which an annual cash bonus would otherwise accrue or to which it would relate (except that for calendar year 1999, such election shall be made no
