Move Bonus Sample Clauses

Move Bonus. The Executive shall be paid a one time move bonus of $75,000 payable as follows: (i) $37,500 shall be paid when the accounting and payroll systems for the Company which are currently operated at Vision 21's office in Largo, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner; and (ii) $37,500 shall be paid when the AS 400 operating system and the claims processing and member services functions which are currently operated at Block Vision's office in Boca Raton, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner.
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Move Bonus. The Executive shall be paid a move bonus (the "Move Bonus") of $75,000 as follows: (i) $37,500 shall be earned and paid when the accounting and payroll systems for the Company which are currently operated at Vision 21's office in Largo, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner; and (ii) $37,500 shall be (1) earned when the AS400 operating system and the claims processing and member services functions which are currently operated at Block Vision's office in Boca Raton, Florida are moved to and are operational in Baltimore, Maryland in a commercially reasonable manner, and (2) paid upon termination of the Bridge Loan Commitment to be provided for in the amended and restated credit agreement to be entered into on or about November 10, 2000 among the Company, the Bank of Montreal as Agent, and the other lenders a party thereto (the "New Credit Agreement. Notwithstanding the foregoing, if the Executive's employment is terminated by the Company other than for (i) "Cause" as described in Section 5(c), or (ii) a voluntary termination by the Executive as described in Section 5(d), the balance, if any, of the Move Bonus earned and not previously paid pursuant to subsection (ii) of this Section 3(a) shall become immediately due and payable."
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Move Bonus. The Executive shall be paid a move bonus (the "Move Bonus") of $50,000 as follows: (i) $25,000 shall be earned and paid when the accounting and payroll systems for the Company which are currently operated at Vision 21's office in Largo, Florida are moved to and are operational in Baltimore, Maryland, in a commercially reasonable manner; and (ii) $25,000 shall be (1) earned when the AS400 operating system and the claims processing and member services functions which are currently operated at Block Vision's office in Boca Raton, Florida are moved to and are operational in Baltimore, Maryland in a commercially reasonable manner, and (2) paid upon termination of the Bridge Loan Commitment to be provided for in the amended and restated credit agreement to be entered into on or about November 10, 2000 among the Company, the Bank of Montreal as Agent, and the other lenders a party thereto (the "New Credit Agreement. Notwithstanding the foregoing, if the Executive's employment is terminated by the Company other than for (i) "Cause" as described in Section 5(c), or (ii) a voluntary termination by the Executive as described in Section 5(d), the balance, if any, of the Move Bonus earned and not previously paid pursuant to subsection (ii) of this Section 3(a) shall become immediately due and payable."
Sample 1

Related to Move 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.

  • 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.

  • Incentive Bonus During the Term, Employee shall be eligible to receive an incentive bonus up to the amount, based upon the criteria, and payable in such amount, at such times as are specified in Exhibit A attached hereto. The manner of payment, and form of consideration, if any, shall be determined by the Compensation Committee of the Board, in its sole and absolute discretion, and such determination shall be binding and final. To the extent that such bonus is to be determined in light of financial performance during a specified fiscal period and this Agreement commences on a date after the start of such fiscal period, any bonus payable in respect of such fiscal period's results may be prorated. In addition, if the period of Employee's employment hereunder expires before the end of a fiscal period, and if Employee is eligible to receive a bonus at such time (such eligibility being subject to the restrictions set forth in Section 6 below), any bonus payable in respect of such fiscal period's results may be prorated.

  • Performance Bonus If Employee's employment is terminated by Employee with cause, or by Bank without cause, Employee shall be paid, in addition to the amounts payable under Sections 3.5 and 3.6 of the Agreement: (i) all non-forfeitable deferred compensation, if any; and (ii) unpaid performance bonus payments, if any, payable under Section 4.2 of the Agreement, which shall be declared earned and payable based upon performance up to, and shall be pro-rated as of, the date of termination. Employee shall not be entitled to such unpaid performance bonus payments if Employee's employment is terminated by Bank with cause, or by Employee without cause.

  • 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 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

  • Sale Bonus (a) If a Sale of the Company is consummated, then, subject to the terms and conditions of this Agreement, you shall be entitled to receive from the Company, or one of its Affiliates, a one-time cash payment (the “Sale Bonus”) in an aggregate amount equal to one half of one percent (0.5%) of the Net Equity Proceeds from such Sale of the Company. The Sale Bonus shall not be paid unless you remain continuously employed by Company or any of its subsidiaries from the date hereof until the date the Sale Bonus (or each component thereof) contemplated under this Agreement is paid.

  • Incentive Bonus Compensation The Executive shall be eligible for incentive bonus compensation for each Fiscal Year in an amount to be determined by the Board of Directors or any committee thereof ("INCENTIVE BONUS COMPENSATION").

  • 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 Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

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