Employee Bonuses Due on Sale Sample Clauses

Employee Bonuses Due on Sale. (a) Seller agrees to pay any incentive to stay bonuses that may be due to any employee of the Automotive Filter Companies as a result of the closing of the transactions contemplated by this Agreement as described on Schedule 8.11. (b) Buyer will pay incentive bonuses arising under the operating incentive bonus plan for the Automotive Filter Employees in an aggregate amount equal to the amount of the incentive plan bonus liability which shall be accrued on the Closing Balance Sheet. The aggregate amount of such incentive bonuses shall be allocated among the Automotive Filter Company employees in a manner to be set forth in a written designation to be delivered to Buyer by Seller within sixty (60) days following the Closing Date. (c) Buyer will pay or cause PPC to pay the amount of any severance obligations which may become due and payable to those Automotive Filter Company employees listed on Schedule 8.11 pursuant to the severance policies attached as part of such schedule.
Sample 1
AutoNDA by SimpleDocs
Employee Bonuses Due on Sale. Sellers agree to pay any bonuses that may be due to any employee of the Filter Business as a result of the closing of the transactions contemplated by this Agreement as described on Schedule 8.11. 124 131
Sample 1
Employee Bonuses Due on Sale. (a) Seller agrees to pay any incentive to stay bonuses that may be due to any employee of the Automotive Filter Companies as a result of the closing of the transactions contemplated by this Agreement as described on Schedule 8.11.
Sample 1

Related to Employee Bonuses Due on Sale

  • Cash Bonuses The Chief Executive Officer shall determine the Executive’s right to receive cash bonuses. Cash bonuses shall be awarded annually based upon the Executive’s and the Company’s annual performance pursuant to the Company’s policy. 5.

  • Annual Bonuses For each fiscal year during the term of employment, the Executive shall be eligible to receive a bonus in the amount, if any, as may be determined from time to time by the Board in its discretion.

  • Incentive Bonuses The Employee shall be eligible to be considered for an annual incentive bonus with a target amount equal to 50% of his Base Compensation. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Company's Board of Directors (the "Board") or its Compensation Committee. The determinations of the Board or such Committee with respect to such bonus shall be final and binding.

  • Other Compensation Plans The adoption of the Plan shall not affect any other option, incentive or other compensation or benefit plans in effect for the Company or any Affiliate, nor shall the Plan preclude the Company from establishing any other forms of incentive compensation arrangements for Employees, Directors or Third Party Service Providers.

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule:

  • Cash Incentive Compensation During the Term, the Executive shall be eligible to receive cash incentive compensation as determined by the Board or the Compensation Committee from time to time. The Executive’s initial target annual cash incentive compensation shall be 40 percent of the Executive’s Base Salary. Except as otherwise provided herein, to earn cash incentive compensation, the Executive must be employed by the Company on the day such cash incentive compensation is paid.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • 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.

  • Annual Bonus Compensation In addition to your Salary, during the Employment Term you shall be eligible to earn an annual bonus for each whole or partial calendar year during the Employment Term, determined and payable as follows (the “Bonus”):

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

Time is Money Join Law Insider Premium to draft better contracts faster.