Deferred Bonus Plan Sample Clauses

A Deferred Bonus Plan clause establishes the terms under which an employee's earned bonuses are paid out at a future date rather than immediately. Typically, this clause outlines the conditions for deferral, such as performance targets, vesting periods, or continued employment, and may specify the schedule and form of payment, like cash or company stock. Its core practical function is to incentivize long-term performance and retention by aligning employee interests with the company's sustained success, while also managing the timing of compensation expenses.
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Deferred Bonus Plan. It is the intention of the Company to establish a Deferred Bonus Plan, pursuant to which employees of the Company shall have the opportunity to receive a bonus in an amount equal to a percentage (to be specified in such plan or an award agreement thereunder) of the aggregate amount of salary and annual bonus compensation set forth on their Form W-2 issued by the Company with respect to a particular calendar year (but excluding any amounts included in such W-2 that are attributable to equity compensation or bonus compensation other than annual bonus compensation), which bonus shall (i) vest on the third (3d) anniversary of the end of the applicable calendar year if an employee is still employed by the Company on such anniversary and (ii) be paid on the tenth (10th) business day thereafter. The Company intends that the bonus percentage for which the Executive shall be eligible shall be nine percent (9%).
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Deferred Bonus Plan. Executive shall be eligible for deferred performance-based bonuses awarded at the discretion of the Board each calendar year, provided the Company's EBITA for such year is at least 105% (or such other percentage as the Board may determine at its discretion) of the prior year's EBITA. Subject to the terms of this Section 3(b), any deferred bonuses awarded to Executive shall be paid in three equal annual installments commencing on the second January 15 following the year for which the bonus was awarded. For calendar year 2004, a deferred bonus will be awarded (and paid in equal installments on January 15 of 2006, 2007 and 2008) if the Company's EBITA for 2004 is $104,550,000 (105% of ▇▇▇▇ ▇▇▇▇▇). If prior to January 15 of any year for which a deferred bonus installment payment is due Executive resigns (other than for a Material Breach (as hereinafter defined)) or Executive is discharged by the Company for Cause (as hereinafter defined), Executive shall forfeit all remaining unpaid deferred bonus payments. If Executive's employment terminates prior to January 15 of any year for which an installment payment is due for any other reason, Executive shall be entitled to receive the full amount of the remaining installments as if Executive had remained employed by the Company.
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Deferred Bonus Plan. It is the intention of the Company to establish a Deferred Bonus Plan, pursuant to which employees of the Company shall have the opportunity to receive a bonus in an amount equal to a percentage (to be specified in an award agreement thereunder) of the aggregate amount of salary, annual bonus compensation, and other short-term or special cash bonus set forth on their Form W-2 issued by the Company with respect to a particular calendar year (but excluding any amounts included in such W-2 that are attributable to equity compensation and any other amounts not attributable to salary, annual bonus, and other short-term or special cash bonus), which bonus shall (i) vest on the second (2d) anniversary of the end of the applicable calendar year, subject to the employee having been continuously employed on a full-time basis with the Company through such anniversary, and (ii) be paid on January 15 next following such vesting date, but in any event no later than March 15 next following such vesting date; in each case, except as otherwise provided in Sections 4 and 5 of this Agreement. The Company intends that the bonus percentage for which the Executive shall be eligible shall be nine percent (9%).”
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Deferred Bonus Plan. Section 3.2(e) of the Employment Agreement shall be amended by adding the following sentence at the end of such section: “If determined by the Compensation Committee, such bonus shall be granted pursuant to the terms and conditions of the Air Lease Corporation 2013 Cash Bonus Plan, as such plan may be amended from time to time (or any successor plan) and subject to the terms and conditions of the Company’s Amended and Restated Deferred Bonus Plan.”
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Deferred Bonus Plan. The parties acknowledge and agree that those awards subsisting under the DBP at the Sanction Date will vest on that date as a consequence of the Acquisition pursuant to the rules of the DBP.
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Deferred Bonus Plan. (a) Subject to the provisions of Section 2.3.3(b), at the Closing Time Buyer shall assume Seller's obligation to pay all deferred bonuses granted as of the Effective Time to Designated Employees pursuant to the Deferred Bonus Plan, but only with respect to the period through the Effective Time (the "Assumed Deferred Bonuses"), provided that Buyer shall assume the payment of such deferred bonuses only to the extent same are vested and otherwise payable in accordance with the terms and conditions of the Deferred Bonus Plan. Nothing contained herein shall require Buyer to pay, or prohibit Buyer from paying, the Assumed Deferred Bonuses prior to the date same are payable in accordance with the Deferred Bonus Plan. Seller covenants and agrees that it will make an additional $125,000 grant under the Deferred Bonus Plan (the "Special Bonus") prior to the Closing Time. (b) Within thirty (30) days following May 31, 2004, the parties shall determine the amount of the Assumed Deferred Bonuses that are vested and the payment dates thereof, and based thereon, shall calculate the present value, as of May 31, 2004, of the Assumed Deferred Bonus (assuming that all such Bonuses will become fully vested with respect to a Designated Employee if such Designated Employee is employed as of May 31, 2004) required to be paid by Buyer pursuant to the Deferred Bonus Plan, using a discount rate equal to the 10-year U.S. Treasury rate as published in The Wall Street Journal's Government Bonds and Notes Section, plus 2.5%, at May 31, 2004 (or the preceding business day, if such day is not a business day) (the "Present Value"). Within ten (10) days following the end of such 30-day period, Seller shall pay to Buyer, in cash, the amount equal to the Present Value, upon which Buyer shall be fully responsible for payment of the Assumed Deferred Bonuses in accordance with the Deferred Bonus Plan. If Seller fails to pay the Present Value within such 10-day period then, at Buyer's option, Buyer may apply payments with respect to the Contingent Payments otherwise due Seller to the satisfaction thereof. Within thirty (30) days after January 1, 2006, the Present Value shall be recalculated based on the amount of the Assumed Deferred Bonuses that actually are vested, and if such recalculated Present Value shall be less than the originally calculated Present Value, Buyer shall refund the difference to Seller, together with interest thereon from the date paid at the rate of seven percent (7%) per a...
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Related to Deferred Bonus Plan

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • Incentive Compensation Plan In addition to receipt of Basic Compensation under the Employment Agreement, you shall participate in the Incentive Compensation Plan for Executive Officers of the Company (the “Compensation Plan”) and shall be eligible to receive incentive compensation under the Compensation Plan as may be awarded in accordance with its terms.

  • Bonus Plan Such bonus, if any, as shall be determined upon the recommendation of the CEO by the Board (or any designated Committee of the Board comprised solely of independent directors), shall be paid in accordance with the terms and conditions of the bonus plan established for the Company (“Bonus Plan”).

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.