LTIP Bonus Payments Sample Clauses

LTIP Bonus Payments. To the extent one or more LTIP Bonuses have been accrued for the Executive upon the attainment of the designated performance milestones for those bonuses but such bonuses are otherwise at the time of his Involuntary Termination subject to an additional service vesting requirement, the Executive shall immediately vest in those LTIP Bonuses upon his Involuntary Termination and shall be paid those bonuses in a single lump sum. Should the Executive’s Involuntary Termination occur prior to the close of a fiscal year for which the designated performance milestones have not yet attained, then the Executive shall be entitled to a pro-rated LTIP Bonus for that year in an amount determined by multiplying one-twelfth (1/12th) of his target LTIP Bonus for such year by the number of months he remained in the Corporation’s employ during that year (with any partial month of fifteen (15) days or more treated as a full month). All amounts due the Executive under this Paragraph 15(e) shall be paid to him in a lump sum within ten (10) business days following the date the general release required of him pursuant to Paragraph 14 becomes effective and shall be subject to the Corporation’s collection of all applicable withholding taxes.
Sample 1
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LTIP Bonus Payments. To the extent one or more LTIP Bonuses have been accrued for the Executive upon the attainment of the designated performance milestones for those bonuses but such bonuses are otherwise at the time of his Involuntary Termination or death subject to an additional service vesting requirement, the Executive shall immediately vest in those LTIP Bonuses upon his Involuntary Termination or death, and those bonuses shall be paid in a single lump sum. The Executive shall also immediately vest in his target LTIP Bonus for the fiscal year in which such Involuntary Termination occurs. All amounts due the Executive under this Paragraph 18(e) shall be paid to him in a lump sum within ten (10) business days following the date the general release required of him pursuant to Paragraph 17 becomes effective or (in the case of the Executive’s death) within thirty (30) days after the date of this death. The Payment shall be subject to the Corporation’s collection of all applicable withholding taxes.
Sample 1

Related to LTIP Bonus Payments

  • Bonus Payments No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • Incentive Payments The Settlement Fund Administrator will treat incentive payments under Section IV.F on a State-specific basis. Incentive payments for which a Settling State is eligible under Section IV.F will be allocated fifteen percent (15%) to its State Fund, seventy percent (70%) to its Abatement Accounts Fund, and fifteen percent (15%) to its Subdivision Fund. Amounts may be reallocated and will be distributed as provided in Section V.D.

  • 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.

  • 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.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • 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.

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

  • 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.

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