Executive Bonuses. Xxxxxxx shall be eligible for an additional annual bonus under an executive performance bonus plan currently known as Senior Management Incentive Plan (“SMIP”) for so long as the Board of Directors determines to maintain such plan. Under such plan, each calendar year, Xxxxxxx shall be entitled to receive a bonus equal to a specified percentage of base salary upon the attainment of certain pre-established goals. Such goals and percentage of salary shall be determined by the Compensation Committee. The bonus amount each year shall be paid in cash, stock, options or such other form as the Compensation Committee provides, paid at the time period provided under such plan, at the same time and in the same form as paid generally to other eligible employees, except to the extent that this Agreement provides otherwise.
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Shares within 90 days after the Closing Date then Xxxxxxx X. Xxxxx, the President and Chief Executive Officer of the Company, or his successor, shall forfeit 1.0% of the $500,000 cash bonus to be paid to Xx. Xxxxx by the Company upon the effectiveness of such Registration Statement for each Business Day the registration default continues.
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Accredited Investor Shares, the Rule 144A Shares, and the Regulation S Shares within 90 days after the Closing Date, other than as a result of the Commission being unable to accept such filings (a "Registration Default"), then, for each day the Registration Default continues, each of Xxxx Xxxxxxx, Chief Executive Officer, Xxxxx Xxxxx, Chief Financial Officer and Xxxxx Xxxxxxxxxxx, Vice President of Corporate Development, shall forfeit 1.0% of any bonus that would otherwise be payable to him in the 2006 fiscal year (or to which he became entitled as a result of performance during the 2006 fiscal year), whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after 2006. No bonuses, compensation, awards, equity compensation or other amounts shall be payable or granted in lieu of or to make such Chief Executive Officer or Chief Financial Officer whole for any such forfeited bonuses.
Executive Bonuses. The Company shall not compensate, in any manner, any of the executive officers whose names appear on the signature page to the Executive Amendments other than as expressly provided in such executive officers' respective employment agreements, each as amended by the Executive Amendments ("EXPECTED COMPENSATION"), for the fiscal year ending December 31, 2002. The Company shall not otherwise avoid or seek to avoid carrying out the intent of this Section 6.18 and the Executive Amendments, which is to reduce and limit the amount of compensation to be paid to the executive officers referred to above for the fiscal year ending December 31, 2002 (whether or not such compensation is actually paid in 2002), but shall act at all times in good faith to ensure that no compensation other than Expected Compensation is paid or accrued with respect to such executive officers for the fiscal year ending December 31, 2002. Notwithstanding the foregoing provisions of this Section 6.18, this Section 6.18 shall not apply to compensation arrangements approved by the Board (including at least one of the Series A Directors).
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Accredited Investor Shares, the Rule 144A Shares, and the Regulation S Shares within 120 days after the Closing Date, other than as a result of the Commission being unable to accept such filings (a “Registration Default”), then, for each day the Registration Default continues, each of J. Mxxxxxx Xxxxxxx, President, Chief Executive Officer and Chief Operating Officer and Mxxx X. Xxxxxxxx, Chief Financial Officer and Secretary, shall forfeit 1.0% of any bonus that would otherwise become payable to him in the 2007 fiscal year after the date of this Agreement (or to which he became entitled as a result of performance during the 2007 fiscal year) but excluding any amounts payable under the Transaction Bonus Agreements dated April 2, 2007, whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after 2007. No bonuses, compensation, awards, equity compensation or other amounts shall be payable or granted in lieu of or to make such President, Chief Executive Officer and Chief Operating Officer or Chief Financial Officer and Secretary whole for any such forfeited bonuses.
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Accredited Investor Shares, the Rule 144A Shares, and the Regulation S Shares on or before August 13, 2007, other than as a result of the Commission being unable to accept such filings, the Company's Chief Executive Officer; Senior Vice President and Chief Financial Officer; Senior Vice President and President, EMEA; Senior Vice President, Corporate Marketing and President Americas and Emerging Markets; Senior Vice President, Strategy and Business Development and President, ITSM; Senior Vice President and Chief Technology Officer; and Senior Vice President and Chief Administrative Officer shall each forfeit, for each day the registration default continues, 1.0% of any cash bonus that would otherwise be payable to him or her in the 2007 fiscal year (or to which he or she became entitled as a result of performance during the 2007 fiscal year), whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement with the Company, including any bonus compensation for which payment would otherwise be deferred until after 2007.
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Private Placement Shares, the 144A/Regulation S Shares, the Selling Stockholder Shares, and the Employee Shares within 210 days after the Closing Date, other than as a result of the Commission being unable to accept such filings, then Scott D. Josey, the Chief Executive Officer and Chairman of the Board xx Xxxxxxxxx xf the Company, or his successor, shall forfeit 1.0% of any cash bonus to which he became entitled or earned as a result of performance during the 2005 fiscal year (whether or not payable in 2005), whether under an employment agreement with the Company, a bonus plan or any other bonus arrangement, including any bonus compensation for which payment would otherwise be deferred until after 2005, for each business day the registration default continues, up to a maximum amount of $500,000; provided, however that such forfeiture shall not apply (i) at any time when the Company has endeavored in good faith to file the Registration Statement within the time period specified but is unable to make the filing as of the specified date as a result of circumstances beyond the Company's reasonable control or (ii) under the circumstances described in the proviso of Section 2(b)(iii) hereof.
Executive Bonuses. Deferred Compensation(a) Pay any executive bonuses until such time that the Borrowing Base has a thirty (30) calendar day average of at least $6,000,000.00, after taking into consideration the payment of such executive bonuses ("Bonus Availability Date") and so long as no Default or Event of Default has occurred. Notwithstanding anything contained herein to the contrary, executive bonuses may accrue (but may not be paid) prior to the Bonus Availability Date.
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Private Placement Shares and the 144A/Regulation S Shares by April 15, 2007, other than as a result of the Commission being unable to accept such filings, then the maximum bonus each of Jxxxx X. Xxxxxxx and Rxxxxx X. Xxxxxxxx would be entitled to pursuant to the Company’s Filing Bonus Plan shall be reduced by 1% for each Business Day that the registration default continues. Notwithstanding the foregoing, the reduction in bonuses will not apply at any time when the Company has endeavored in good faith to file a Registration Statement within the time period set forth above but is unable to make the filing as of the specified date as a result of circumstances beyond the Company’s reasonable control.
Executive Bonuses. If the Company does not file a Registration Statement registering the resale of the Private Placement Shares and the 144A/Regulation S Shares within sixty (60) days after the Closing Date, other than as a result of the Commission being unable to accept such filings, then the maximum bonus each participating officer or employee would be entitled to pursuant to the Company's Filing Bonus Plan shall be reduced by 1% for each Business Day that the registration default continues; provided, however, that such forfeiture shall not apply at any time when the Company has endeavored in good faith to file the Registration Statement within the time period specified but is unable to make the filing as of the specified date as a result of circumstances beyond the Company's reasonable control.
