Mandatory Bonus Sample Clauses

A Mandatory Bonus clause requires an employer to pay a specified bonus to an employee under certain conditions, regardless of discretion. Typically, this clause outlines the amount, timing, and criteria for the bonus, such as achieving specific performance targets or remaining employed on a particular date. By making the bonus obligatory rather than optional, the clause ensures employees receive promised compensation, thereby providing financial certainty and incentivizing desired behaviors.
Mandatory Bonus. Employee shall be entitled to participate in a profit sharing plan to be enacted by the Board of Directors, which plan shall provide for distributions to selected executive employees of an aggregate of up to 6% of the net pre-tax profit of the Company, determined as soon as practical after the end of each fiscal year, plus such other bonuses as may be determined by the Board of Directors of the Company from time to time.
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Mandatory Bonus. Executive shall be paid a bonus of Fifty Thousand Dollars ($50,000) not later than March 31, 2007, unless he voluntarily terminates his employment hereunder prior to January 1, 2007.
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Mandatory Bonus. In addition to any discretionary bonus provided for above, the Company shall pay to Executive mandatory bonus in the amounts and at the times as set forth below: (A) a cash amount equal to $75,000, payable within fifteen (15) days of the achievement of the First Funding Milestone; provided, however, that such amount shall accrue pro rata prior to the achievement of the First Funding Milestone based on the percentage determined by dividing $5 million by the amount of funding unconditionally committed to the Company, either prior to or following the Effective Date, including, for the avoidance of doubt, the $1 million in funds committed to the Company by ▇▇▇▇▇ ▇▇▇▇▇ (as such, an amount equal to $15,000 of such bonus as accrued as of the Effective Date); (B) a cash amount equal to $175,000, payable within fifteen (15) days of the date when, pursuant to predetermined criteria reviewed by the Board, the primary endpoints of the Company’s anticipated Phase IIb clinical trial of the Company’s nitric oxide/plasma product are achieved such that the Company may proceed to Phase III trials (the “First Trial Milestone”); and (C) a cash amount equal to $160,000, payable within fifteen (15) days of the date when, pursuant to predetermined criteria reviewed by the Board, the primary endpoints of the Company’s pivotal Phase III trial for its nitric oxide/plasma product have been achieved (the “Second Trial Milestone”).
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Mandatory Bonus. Upon [execution][the Effective Date] of this Agreement, Employee shall be entitled to receive Eighty Thousand Dollars ($80,000.00) as a bonus, payable in one lump sum.
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Related to Mandatory Bonus

  • 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.

  • Special Bonus In addition to the Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the Highest Annual Bonus. The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

  • Annual Incentive Bonus The Company shall, in addition to Executive’s Base Salary, pay Executive an Annual Incentive Bonus, which shall be payable within 120 days of the end of each fiscal year in accordance with the formula set forth on Exhibit A, attached hereto and made a part hereof.

  • Salary, Bonus and Benefits For services rendered by the Employee on behalf of the Company during the Employment Term, the following salary, bonus and benefits shall be provided to the Employee by the Company: (a) The Company shall pay to the Employee, in equal installments, according to the Company’s then current practice for paying its executive officers in effect from time to time during the Employment Term, the Annual Base Salary. (b) The Employee shall participate in the Sealy Corporation Annual Bonus Plan (the “Bonus Plan”) in accordance with the provisions of that Plan as in effect as of the date of this Agreement based on the Target Annual Bonus Percentage. (c) The Employee shall be eligible for participation in such other benefit plans, including, but not limited to, the Company’s Profit Sharing Plan and Trust, Executive Severance Benefit Plan, Benefit Equalization Plan, Short-Term and Long Term Disability Plans, Group Term Life Insurance Plan, Medical Plan or PPO, Dental Plan, the 401(k) feature of the Profit Sharing Plan and the 1998 Stock Option Plan, as the Board may adopt from time to time and in which the Company’s executive officers are eligible to participate. Such participation shall be subject to the terms and conditions set forth in the applicable plan documents. As is more fully set forth in Section 6 hereof, the Employee shall not be entitled to duplicative payments under this Agreement and the Executive Severance Benefit Plan. (d) Without limiting the generality of Subsection 3(c) above, for so long as such coverage shall be available to the executive officers of the Company, the Employee shall be eligible to participate in the Company’s Group Term Life Insurance Plan with a death benefit to be provided at the level of one and one half (1 ½) times annual base salary at Company expense, plus extended coverage with a death benefit to be provided of at least the level in effect on the date of this Agreement for the Employee under such Plan at the Employee’s discretion and expense. (e) The Employee shall be entitled to take, during each calendar year period during the Employment Term, vacation time equal to four (4) weeks per year. (f) In addition, the Parties do hereby further confirm that any shares of Class A Common Stock of the Company (“Class A Shares”), and any options to purchase additional Class A Shares previously granted to Employee are in addition to, and not in lieu of, any shares or options which may be granted under any other plan or arrangement of the Company after the date of this Agreement, and (b) the various stock agreements and stock option agreements, and any related Stockholder Agreement (the “Stockholder Agreement”) between the Parties (such agreements being hereinafter referred to collectively as the “Pre-existing Agreements”), all remain in full force and effect except as otherwise provided herein. Notwithstanding the foregoing, to the extent that any provision contained herein is inconsistent with the terms of any of the Pre-existing Agreements, the terms of this Agreement shall be controlling.

  • 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.