Divestiture Bonus Sample Clauses

Divestiture Bonus. Upon sale of the Company during the term of Agreement or any renewals thereof the Company will pay the Executive an incentive and termination payment of 3% of the sale price of the Company for the first $100 million, 2.5% on the next $100 million and 1% thereafter, payable in equivalent form (stock or cash) of the divestiture transaction.
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Divestiture Bonus. Dauchert will be entitled to receive a Divestiture Bonus based upon sale or divestiture of the following Coastal companies: HealthNet Medical Group division of Physicians Planning Group, Inc. ("HealthNet"); Integrated Provider Networks, Inc. ("IPN"); Practice Solutions, Inc. ("PSI"); and the Belle Glade Obstetrics, Inc. and Lehigh Medical Associates, Inc. practices of Coastal Physician Group of Florida, Inc. ("South Florida"). The Divestiture Bonus shall be the product of the Net Proceeds, as hereinafter defined, and the applicable percentage as shown below: (a) HealthNet. The Divestiture Bonus shall be equal to 0.375% of the Net Proceeds, which for purposes of this paragraph are equal to $9,375,000. As of the date of this Restated and Amended Employment Agreement, HealthNet has been sold and the Divestiture Bonus of $35,156.25 has been earned by Dauchert. (b) IPN/PSI. The Divestiture Bonus shall be equal to 0.5% of the Net Proceeds for the companies or assets divested by Advest, Inc. pursuant to the terms of the engagement letter between Advest and Coastal dated November 22, 1996 (the "Advest Letter"). For purposes of this paragraph, Net Proceeds shall have the same meaning as the term "Transaction Consideration" as set forth in the Advest Letter. The Divestiture Bonus shall be earned upon Coastal's receipt of the sales proceeds from a sale or divestiture.
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Divestiture Bonus. The Restated and Amended Employment Agreement which this Agreement replaces provides for a Divestiture Bonus (in Section 8 of the Restated and Amended Employment Agreement). The only remaining assets to which the Divestiture Bonus applies as of the date of this Agreement are Integrated Provider Networks, Inc. ("IPN") and Practice Solutions, Inc. ("PSI"). Employee shall be entitled to any unpaid Divestiture Bonus for assets disposed of prior to the date of this Agreement, such Divestiture Bonuses to be paid in accordance with the terms of the Restated and Amended Employment Agreement. In addition, upon sale or divestiture of IPN and/or PSI during the term of this Agreement or within ninety (90) days of the termination of Employee's employment under this Agreement unless employment is terminated by Employer for cause, Employee shall be entitled to receive a Divestiture Bonus equal to 0.5% of the Net Proceeds, as hereinafter defined. The Divestiture Bonus shall be earned upon Employer's receipt of the sales proceeds from a sale or divestiture. For purposes of this paragraph, Net Proceeds shall have the same meaning as the term
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Divestiture Bonus. Upon the sale by the Company of one or more of its operating units in a transaction or series of transactions not constituting a Change in Control, the Company shall pay to AII such additional compensation as the Compensation Committee of the Board may determine.
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Divestiture Bonus 
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Related to Divestiture Bonus

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

  • Performance Bonus The Executive shall be eligible to receive an annual performance bonus, payable within sixty (60) days after the end of the fiscal year of the Employer, in an amount not to exceed twenty-five percent (25%) of the Executive's Base Salary for the applicable year. The amount, if any, shall be determined by the Board, or the appropriate committee thereof, and shall generally be based on a combination of organization-wide and individual performance criteria.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Bonus Opportunity The Company shall offer each year an incentive bonus compensation plan. Such plan will include an annual bonus target amount equal to at least 50% of the Executive’s annual base salary and shall contain such additional terms as determined by the Chief Executive Officer. The amount of any bonus payable to Executive in any year shall be based upon performance targets established in advance under the bonus plan and Executive’s achievement of such performance criteria.

  • Long-Term Incentive Award During the Term, Executive shall be eligible to participate in the Company’s long-term incentive plan, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Longevity Bonus After twenty (20) years of continuous service, an employee will receive a longevity bonus of seven hundred dollars ($700) per year, payable in one lump sum by the second pay period following the employee's anniversary date.

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