Deferred Bonuses. After each year of the Employment Term, the Company agrees to consider awarding a deferred bonus to the Employee, taking into account the value of the Employee’s services to the Company and such other factors as the Board of Directors of the Company determines in its sole and absolute discretion, including the compensation paid by other companies to executives with similar skills and experiences to the Employee. The amount of any such bonus, the timing of its payment and all terms and conditions thereof shall be determined by the Board of Directors of the Company in its sole and absolute discretion. The Company shall not be obligated to set aside any of its assets for purposes of paying any deferred bonus awarded to the Employee. The Employee acknowledges that any deferred bonus awarded to him will be subject to applicable tax withholding obligations if and when such bonus is paid.
Deferred Bonuses. Executive shall be entitled to receive any deferred bonuses earned prior to the Effective Date in accordance with the terms of such deferred bonus plan(s).
Deferred Bonuses. Employee acknowledges that the Company has paid the Employee $10,156.00 in a single lump sum payment, less applicable withholding taxes, in satisfaction of all prior bonuses, the payment of which had been deferred by the Company.
Deferred Bonuses. All Deferred Bonuses shall vest immediately and become payable at the Effective Time.
Deferred Bonuses. The Company decided to defer portions of the annual bonuses awarded to Executive for years 2006 and 2007. The remaining deferred amounts of such bonuses are $80,000 for the year 2006 and $125,000 for the year 2007. Subject to the provisions of Section 13 of this Separation Agreement, the Company shall pay these amounts to Executive within six (6) months and one (1) day after the date of Separation.
Deferred Bonuses. 6.1 The Transferors will discharge all obligations to deliver securities or cash in accordance with the terms of the awards made to Relevant Employees and the Dedicated Services Employees and any employees of Group Companies in 2009 and 2010 under the 2009 Deferral Plan and the 2010 Deferral Plan as and when such obligations fall to be discharged in accordance with the rules of those plans, including any obligations which fall to be discharged after the Closing Date or in the case of the Dedicated Services Employees after the relevant Termination Date.
6.2 In the event that the Transferors communicate bonus awards to Employees prior to Closing, the Transferors will discharge any such obligations. If Closing occurs before bonus awards for 2010 are made, the Purchaser will be responsible for the bonus arrangements for the Employees.
Deferred Bonuses. All deferred bonuses and interest thereon payable by Chiles Offshore to a Senior Officer, which are set forth on the attaxxxx Xchedule 3 ("Deferred Bonuses"), shall vest immediately and shall be paid by the Company as applicable to the Senior Officers on the Effective Date.
Deferred Bonuses. Each Acquired Company shall fully pay all deferred bonuses and similar special compensation due to its employees and independent contractors that shall have been accrued before Closing.
Deferred Bonuses. For any Bonus Year in which an Annual Bonus is earned by Employee in accordance with Section 3.2, Employee shall be entitled to receive an additional bonus equal to 60% of the Annual Bonus earned for such Bonus Year (a “Deferred Bonus”). Such Deferred Bonus shall be paid in three equal installments, with the first installment to be paid on or before January 31 of the first year following the payment of the applicable Annual Bonus, the second installment to be paid on or before January 31 of the second year following the payment of the applicable Annual Bonus, and the third installment to be paid on or before January 31 of the third year following the payment of the applicable Annual Bonus. For the avoidance of doubt, no Deferred Bonus shall be paid with respect to any year in which Employee does not earn an Annual Bonus. Employee shall be entitled to receive payment of a Deferred Bonus installment only if he remains employed by Company on the date such payment is made. Employee shall not be entitled to any Deferred Bonus payments or installments following the termination of Employee’s employment.
