Employee Bonuses. Beginning with the second (2nd) Project Year and for each Project Year thereafter, Operator shall pay to the Operator Personnel and the GE O&M Personnel as bonuses in the aggregate not less than twenty-five percent (25%) of the AFAA for each such Project Year; provided, however, Owner may pay, in Owner's sole discretion, additional bonuses to the Operator Personnel and the GE O&M Personnel during any Project Year.
Employee Bonuses. 18.1 An annual cash bonus payment will be paid to each employee at the Company’s year end. Said cash bonus payment shall be in accordance with the Company policy.
Employee Bonuses. Company hereby covenants and agrees that, except to the extent disclosed in Part 3.16(a) of the Disclosure Memorandum, it will not pay or permit to be paid to any Employees or directors of any Seller any bonuses otherwise payable upon a change of control of any Seller or termination of employment or engagement.
Employee Bonuses. Other than as disclosed in the Prospectuses, there are no material bonuses, distributions, commissions, excess salary payments and other amounts owing to employees which will be payable outside the ordinary course of business by the Company or any subsidiary of the Company to any employee relating to their employment with the Company or any subsidiary of the Company.
Employee Bonuses. On or prior to the Closing, the Company will cause one of the Target Companies to pay all bonus amounts payable to the applicable employees of the Target Companies as a result of the transactions contemplated by this Agreement (other than any amounts that are only payable if the applicable employee's employment is terminated), including those amounts that are disclosed on Schedule 2.10(i), with the payment of such bonus amounts having resulted in a dollar-for-dollar reduction in the amount of the Closing Date Cash and Cash Equivalents as compared to the amount the Closing Date Cash and Cash Equivalents would have been if such bonus amounts had not been so paid by the applicable Target Company.
Employee Bonuses. (a) Seller agrees to pay to the Company at the Closing (i) all amounts (the "Change-in-Control Amounts") required to be placed into escrow pursuant to Section 6 of the Employment Agreements in view of the Change in Control to be constituted by the consummation of the transactions contemplated by this Agreement and (ii) an amount equal to the sum of the escrow agent fees expressly set forth in Paragraph 18 of each of the Employee Escrow Agreements. In addition, at the Closing, Seller shall cause the Company to (i) execute and deliver each of the Employee Escrow Agreements and (ii) deposit into escrow in accordance with the terms of each such agreement the applicable Change-in-Control Amount. Following the Closing, Seller shall reimburse the Company, promptly following receipt of copies of invoices of the Escrow Agent (as defined in the Employee Escrow Agreements) reasonably satisfactory to Seller, for all reasonable out-of-pocket expenses incurred by the Escrow Agent in performing its duties under the Employee Escrow Agreements. Any amounts in respect of such out-of-pocket expenses incurred by the Escrow Agent not paid by Seller within ten days following receipt of such invoices shall be paid by the Purchaser and shall be deducted from the principal amount payable under the Promissory Note.
(b) Following the Closing, Purchaser shall cause the Company to honor the terms of each of the Employment Agreements.
(c) Seller agrees to pay when due any "retention" bonuses that may become due to any Existing Employees resulting from any agreement or promise existing prior to the Closing. Any amounts due but not paid by Seller within ten days following the applicable due date shall be paid by Purchaser and shall be deducted from the principal amount payable under the Promissory Note.
Employee Bonuses. Parent shall determine and cause to be paid the bonuses for corporate, regional and community based eligible employees under and in accordance with the Company's or any Company Subsidiary's bonus policies or plans in effect on the date of this Agreement for the year ending January 3, 2003. For the period commencing January 4, 2003 until the Closing, the Company and any Company Subsidiary shall accrue bonus expense in accordance with the Company's or the Company Subsidiary's bonus policies or plans for purposes of Adjusted Working Capital.
Employee Bonuses. Section 8.3 of the Seller Disclosure Schedule sets forth an accurate and complete list of Employees entitled to a bonus in connection with the transactions contemplated by this Agreement (each a “Qualified Employee”) and the amount of such bonus (a) payable on the Closing Date (each, a “Closing Bonus” and the sum of which, together with all employer payroll Taxes associated therewith, the “Total Closing Bonus Payments”) and (b) payable on the date that is six (6) months following the Closing Date (each, a “Post-Closing Bonus” and the sum of which, together with all employer payroll Taxes associated therewith, the “Estimated Total Post-Closing Bonus Payments”). At or prior to the Closing, Sellers shall pay to each Qualified Employee the applicable Closing Bonus. Promptly following the date that is six (6) months following the Closing Date, Purchaser shall pay to each Qualified Employee who remains employed with Purchaser and its Affiliates through such date the applicable Post-Closing Bonus. Within ten (10) Business Days following the final Post-Closing Bonus payment, Purchaser shall deliver to Sellers a statement setting forth the total amount of Post-Closing Bonuses actually paid by Purchaser (the sum of which, together with all employer payroll Taxes associated therewith, the “Final Total Post-Closing Bonus Payments”). If the amount of the Final Post-Closing Bonus Payments is less than the amount of the Estimated Total Post-Closing Bonus Payments, then Purchaser shall promptly pay to Sellers (in immediately available funds to accounts designated by Sellers) an amount equal to the Estimated Total Post-Closing Bonus Payments minus the Final Total Post-Closing Bonus Payments (the “Post-Closing Bonus Adjustment”) and Purchaser shall have no other obligation or liability associated with this Section 8.3. Notwithstanding the foregoing, if the employer payroll Taxes actually paid by Purchaser exceed the amount set forth on Section 8.3 of the Seller Disclosure Schedule (such amount, the “Payroll Tax Shortfall”), then Sellers shall, upon written notice by Purchaser setting forth such amount, promptly pay to Purchaser (in immediately available funds to an account designated by Purchaser) an amount equal to the Payroll Tax Shortfall.
Employee Bonuses. Sellers shall have paid the Total Closing Bonus Payments no later than immediately prior to the Closing.
Employee Bonuses. The Company agrees that for the purpose of calculating employee bonuses for the Company’s 2006 fiscal year, the amount of $1,624,972 shall be added toward the revenues/sales achievement of the Company in 2006.
