Extension Bonus. As soon as practicable following the Effective Date, the Company shall pay the Executive an extension bonus equal to $500,000.
Extension Bonus. In addition to his base salary and standard benefits, including PTO, the Executive shall be paid a five-thousand-dollar ($5,000.00) extension bonus for serving as Chief Financial Officer of the Company through completion of the extended term of April 5, 2024. The extension bonus will be paid in the April 5, 2024 payroll, net of applicable withholdings and deductions.
4. Section 8 of the Agreement, “Noncompete Agreement,” shall be deleted in its entirety.
5. The following shall be added to Section 9 of the Agreement, “Non-Disparagement/Neutral Reference”,
Extension Bonus. The Company shall pay to Executive an extension bonus of $175,000 payable on February 2, 1998, PROVIDED THAT, Executive is employed by the Company on such date.
Extension Bonus. In addition to the Base Salary and Bonus, Executive shall receive a total of $500,000, payable in eight consecutive quarterly installments of $62,500 each on or before the fifteenth (15) day of each quarter, commencing with the quarter beginning on January 1, 2004 (the “Extension Bonus”); provided that Executive is employed by the Company on the first day of such quarter. In the event of Executive’s death, long-term disability, or a Realization Event (as defined in the 2000 Stock Option Plan of Resolution Performance Products Inc.) prior to the Extension Bonus being paid in full, the Company shall pay to Executive a lump sum amount (to be considered pensionable wages) equal to the remaining unpaid balance of the Extension Bonus.”
Extension Bonus. On or about February 7, 2010, WMTC granted to Mr. Flower a five-year incentive warrant to purchase up to 1,000,000 shares of common stock of WMTC at US$1.50 per share. The parties agree that this warrant is hereby amended as follows: (i) the expiration date of the warrant is extended to December 31, 2017; (ii) the number of warrants is reduced to 300,000; and (iii) the exercise price of the warrants is reduced to US$0.65.
Extension Bonus. For and inconsideration of the Service Provider entering into this Amendment, WMTC shall grant to it a five-year incentive warrant to purchase up to 1,000,000 shares of common stock of WMTC at US$1.50 per share and subject to the further terms and conditions set forth in the form of the warrant attached hereto as Exhibit A and incorporated herein.
Extension Bonus. Employer requested that Executive forego the $900,000 in severance compensation to which Executive would otherwise be entitled pursuant to Section 6.4 hereof upon expiration of the Employment Period. Executive hereby agrees to forego such severance and in consideration thereof and of the extension of the Employment Period through January 29, 2009, Employer shall pay to Executive an extension bonus in the amount of $900,000. The parties acknowledge and agree that the extension bonus is being paid to Executive in lieu of an equal amount of severance which otherwise would have been payable to Executive had this Employment Agreement expired on January 29, 2005.
6. Section 6.4 of the Agreement is hereby amended by deleting therefrom the phrase "an amount equal to the sum of (a) $900,000 and (b)".
7. Section 6.5 of the Agreement is hereby deleted in its entirety and the following is hereby inserted in lieu thereof:
Extension Bonus. Subject to the Ratification of this agreement for employees who are over scale as of 10/1/14, a quarterly bonus of $125.00 will be accrued and paid in the first paycheck following the end of the quarter. The first quarter will be 10/1/14 to 12/31/14 for the current “over scale”. For employees who become over scale after 10/1/14, the $125.00 bonus which will be paid in the first paycheck following the end of each quarter. To be eligible to receive the bonus the employee must be over scale from the beginning day of the quarter to the last day of the quarter. The quarterly bonuses are for the term of this contact. If the employee retires or leaves the company and was over scale for the prior quarter the employee will receipt payment for any accrued bonus.
Extension Bonus. Upon execution of this Amendment, as a bonus for agreeing to extend the Employment Term, the Company shall forgive in full its advance of $325,000 of the Executive's 1996 Base Salary made on March 26, 1996.
Extension Bonus. In the event the Company elects to exercise the Option and Employee elects to continue his employment with the Company following the Company's exercise of the Option, the Company shall pay the Employee a bonus of Thirty Thousand Dollars ($30,000) (less applicable taxes and other required withholdings) within thirty (30) days of the Employee's agreement to continue his employment with the Company following the Company's exercise of such Option; provided, however, that Employee shall be obligated to repay such bonus in the event that he voluntarily terminates his employment with the Company as follows: VOLUNTARY AMOUNT OF EXTENSION TERMINATION DATE BONUS TO BE REPAID ---------------- ------------------ Within first six months of the Option Term 100% After six months but before twelve months of 75% the Option Term After twelve months but before eighteen months 50% of the Option Term After eighteen months but before twenty-four 25% months of the Option Term After twenty-four months of the Option Term 0%
