New Parent Bonus Sample Clauses

New Parent Bonus. (a) A teacher having 12 months continuous service who gives birth to or adopts a child is entitled to receive a new parent bonus from the School. The calculation of the new parent bonus is dealt with at subclauses 26.3(b) and (c) below. (b) The weekly value of the new parent bonus is the difference, if any, between the teacher's gross weekly salary for the usual position held by the teacher (plus any allowance received under subclauses 16.1 or 16.
Sample 1
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New Parent Bonus. (a) Subject to sub-clause 35.3(f), an Employee having 12 months continuous service who gives birth to or adopts a child is entitled to receive a new parent bonus from the School. The calculation of the new parent bonus is dealt with at sub-clauses 35.3(b) and (c) below. (b) The weekly value of the new parent bonus payable, is the amount remaining, if any, after subtracting the federal minimum wage from the Employee's gross weekly salary for the usual position held by the Employee before the Employee commenced leave in connection with the birth or placement of the child for adoption, or gave birth to or adopted the child, whichever occurred first.
Sample 1
New Parent Bonus. (a) Subject to sub-clause 34.3(f), an Employee having 12 months continuous service who gives birth to or adopts a child is entitled to receive a new parent bonus from the School. The calculation of the new parent bonus is dealt with at sub-clauses 34.3(b) and (c) below. (b) The weekly value of the new parent bonus payable, is the amount remaining, if any, after subtracting the federal minimum wage from the Employee's gross weekly salary for the usual position held by the Employee before the Employee commenced leave in connection with the birth or placement of the child for adoption, or gave birth to or adopted the child, whichever occurred first. (c) The value of the new parent bonus, expressed in weeks, for an Employee, who takes parental leave after the commencement of this Agreement, is 18 weeks or the number of weeks of unpaid parental leave taken, if the period of leave taken is less than 18 weeks, to a minimum of 6 weeks. The Employee will be paid the new parent bonus at the rate calculated in accordance with sub-clause 34.3(b) multiplied by the number of weeks as determined in accordance with this paragraph. (d) If a new parent bonus is payable, the Employee must be paid: (i) at the usual times and intervals that other Employees are paid at the School from the birth or placement of the child; or (ii) as otherwise agreed in writing, for example, from the commencement of a period of parental leave or deferred to a later date and/or in a lump sum or in instalments. (e) For the avoidance of doubt: (i) The birth or adoption of more than one child around the same period of time does not give rise to a second or greater bonus. The new parent bonus is only payable once in such circumstances. (ii) If both parents of an adopted child are covered by this Agreement, or an agreement in similar terms, the new parent bonus available in respect of the adoption of the particular child is only available to one parent. It is payable by one School to one Employee covered by this Agreement, or an agreement in similar terms. Generally, it is anticipated that this will be the adoptive mother. However, the parents may agree that it be the adoptive father. (f) Where following an earlier period of parental leave, an Employee has not returned to work for a period of four School terms, or such lesser period as may be agreed to by the School, before the birth or adoption of a second or subsequent child, the Employee will remain entitled to unpaid parental leave in accordance wi...
Sample 1

Related to New Parent Bonus

  • 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.

  • Signing Bonus The Company will pay the Executive a signing bonus of $250,000, less social security contributions, income tax withholding, and any other applicable deductions, within 30 days following the Effective Date (“Signing Bonus”). If the Executive resigns his employment with the Company for any reason other than for Good Reason, or if Executive is terminated by the Company for Cause, and such resignation or termination occurs on or before the one-year anniversary of the Effective Date, the Executive will repay to the Company the Signing Bonus.

  • Equity Incentive Compensation Upon the Closing, each incentive award in respect of the common stock of Seller Parent (a “Seller Parent Equity Award”) held by a Transferred Employee shall become vested or eligible to vest (subject to the satisfaction of any applicable performance goals) in a prorated amount, determined based on the number of days in the applicable vesting period elapsed as of the Closing Date. Effective as of the Closing, Purchaser or its Affiliates shall grant to each Transferred Employee an equity- or cash-based incentive award (a “Make-Whole Award”) with a grant date fair value that is no less favorable than the value of the portion of the Seller Parent Equity Awards forfeited by the Transferred Employee in connection with the Closing (which forfeited amount shall be disclosed to Purchaser Parent no later than five (5) Business Days prior to the Closing), which Make-Whole Award shall have terms and conditions that are no less favorable than the terms and conditions (including vesting schedule and accelerated vesting terms) that were applicable to the corresponding Seller Parent Equity Award. In the event that the post-Closing transfer of a Delayed Transfer Employee results in a larger portion of the Seller Parent Equity Awards held by such Delayed Transfer Employee becoming vested upon such Delayed Transfer Employee’s transfer of employment than if the employment of such Delayed Transfer Employee had transferred upon the Closing, then the incremental cost of such additional vesting (which cost shall be measured based on the taxable income the Delayed Transfer Employee either realized or would have realized had such awards been settled or exercised upon such Delayed Transfer Employee’s transfer of employment to Purchaser or its Subsidiaries) shall be considered Purchaser Assumed Employee Liabilities.

  • 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.

  • Target Bonus Executive will be eligible to receive an annual bonus of up to forty percent (40%) of Executive’s Base Salary, less applicable withholdings, upon achievement of performance objectives to be determined by the Board in its sole discretion (the “Target Bonus”). The Target Bonus, or any portion thereof, will be paid as soon as practicable after the Board determines that the Target Bonus has been earned, but in no event shall the Target Bonus be paid after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which the Target Bonus is earned or (ii) March 15 following the calendar year in which the Target Bonus is earned.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • 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.

  • Incentive Bonus Plan Employee shall be eligible for a bonus opportunity of up to 65% of his annual base salary in accordance with the Company’s Incentive Bonus Plan as modified from time to time, payable in cash and/or equity of the Company (at the Company’s discretion). The bonus payment and the Company’s targeted performance shall be determined and approved by the Board or the compensation committee thereof.

  • 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.

  • 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.

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