LEASE BONUS Sample Clauses

A Lease Bonus clause defines the payment made by a lessee to a lessor as an upfront incentive for entering into a lease agreement, typically in the context of mineral, oil, or gas leases. This bonus is usually a lump sum paid upon execution of the lease, separate from ongoing royalties or rental payments, and is often calculated based on the acreage or value of the leased property. The core function of this clause is to provide immediate financial benefit to the lessor, encouraging them to grant the lease and compensating them for granting exclusive exploration or extraction rights.
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LEASE BONUS. The Lessee shall pay the Lease Fee, prior to each anniversary of the Effective Date during the Term. The Lease Fee is non-refundable.
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LEASE BONUS. As a contemporaneous exchange upon execution of this Lease, Lessee shall pay RGGS a bonus of [*] as consideration for this Lease (the “Bonus”). The Bonus is not refundable under any circumstance
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LEASE BONUS. Initially, the lessor’s primary concern involves the amount of the lease bonus to be paid for his/her execution of the lease and the amount of royalty to be stated in the lease. Lease bonuses vary depending upon the geographical area and production history or potential production thereunder. But, generally, said bonus is calculated on a net mineral acreage basis. Thus, if the landowner owns a hundred (100) acres, his/her bonus will be: 100 times “x” – “x” being the amount paid per net mineral acre. Many oil and gas companies pay lease bonuses before an extensive title search has been conducted. In a rush to acquire leases in a certain area and beat the competition, companies will use cursory title information to acquire initial leases. As a protection for this practice, companies will pay the lease bonus by draft conditioned on certain events. For instance, the draft may contain a provision that the draft will not be honored until title has been approved. Texas courts interpreting such instruments have upheld the oil and gas companies’ failure to honor bonus drafts.5 As a result, savvy landowners are now requiring unconditioned check payments upon execution of an oil and gas lease. In addition, cursory title searches do not always render accurate net mineral acreage calculations. Thus, oil and gas companies may overpay or underpay a landowner but not discover this fact until comprehensive title examinations are conducted. More and more, oil and gas leases contain provisions that protect the landowner’s initial bonus. For instance, it is
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LEASE BONUS. Upon occupancy, Landlord shall provide $40,308 to Tenant as a lease bonus ("Lease Bonus") for entering into this Lease Agreement.
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Related to LEASE BONUS

  • 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 Incentive Payment The Executive shall participate in the Company's Management Incentive Plan (or such alternative, successor, or replacement plan or program in which the Company's principal operating executives, other than the Chief Executive Officer, generally participate) and shall have a targeted incentive thereunder of not less than $240,000 per year; provided, however, that the Executive's actual incentive payment for any year shall be measured by the Company's performance against goals established for that year and that such performance may produce an incentive payment ranging from none to 200% of the targeted amount. The Executive's incentive payment for any year will be appropriately pro-rated to reflect a partial year of employment.

  • Cash Incentive Bonus The pro rata share of any Cash Incentive Bonus that would have been paid to the Executive had the Executive not been terminated Without Cause based on the extent to which performance standards are met on the last day of the year in which the Executive is terminated Without Cause.

  • Vacation Bonus Employees shall receive one day's base pay (or adjusted earnings) for each year of service beyond twenty-five (25) years, to a maximum of ten (10) days’ pay.

  • Annual Bonus Compensation Executive shall be eligible to receive a bonus each Contract Year (“Annual Bonus”) as the Compensation Committee of the Board of Directors shall determine. Executive’s Annual Bonus shall be determined in accordance with the Company’s executive compensation policies as in effect from time to time during the Term and shall be based, in part, on his achieving his individual performance goals for the year and, in part, on the Company’s achieving its performance goals for the year.