Payment of Bonuses. The Bonus payable to an Executive for any Fiscal Year shall be paid in accordance with the following provisions:
(a) Except as otherwise provided in (b) or (c) below,
(i) if the Executive is not a Covered Executive for such year, 50% of the estimated amount of the Executive's Bonus shall be paid to the Executive at such date in August next following the close of such year as the Committee in its discretion shall determine, and the remaining amount of the Executive's Bonus shall be paid to the Executive by no later than January 15 next following the close of such year;
(ii) if the Executive is a Covered Executive for such year, 50% of the amount of the Executive's Bonus shall be paid to the Executive as soon as practicable after the Committee has certified in writing that all conditions for the payment of such Bonus to the Executive for such year have been satisfied, and the remaining amount of the Executive's Bonus shall be paid to the Executive by no later than January 15 next following the close of such year;
(iii) each amount payable to an Executive under (i) and (ii) above, reduced by the amount of all federal, state and local taxes required by law to be withheld therefrom, shall be paid to the Executive in the form of a single lump sum cash payment.
(b) To the extent that an Executive has elected under the applicable provisions of the Pall Corporation Management Stock Purchase Plan (the "MSPP") to have any part of the Bonus payable to the Executive for any Fiscal Year paid in the form of Restricted Units to be credited to the Executive's account under the MSPP, no cash payments shall be made to the Executive pursuant to (a) above with respect to the part of the Executive Bonus that is subject to such election; and the obligation of the Corporation under this Plan with respect to payment of such part of the Executive's Bonus shall be fully discharged upon the crediting of Restricted Units to the Executive's account under the MSPP in accordance with the applicable provisions of such Plan.
(c) To the extent that an Executive has elected under the applicable provisions of the Pall Corporation Profit-Sharing Plan (the "Profit-Sharing Plan") to have any part of the Bonus payable to the Executive for any Fiscal Year reduced, and to have an amount equal to such part of the Executive's Bonus contributed to the Profit-Sharing Plan as a 401(k) Contribution on the Executive's behalf, an amount equal to such part of the Executive's Bonus shall be contributed to th...
Payment of Bonuses. Of the Operational Incentive Bonus and the Profit Incentive Bonus amounts so calculated, FIFTY (50%) PER CENT thereof shall be paid to Employee in cash within 30 days following delivery to Employer of the audited statements prepared by the Company’s independent certified public accountants following the Company’s year end and the remaining FIFTY (50%) PER CENT shall be payable to Employee by the issuance of Common Stock Purchase Options (the “Incentive Purchase Option Amount”) as provided herein below.
Payment of Bonuses. In order to minimize the tax consequences of this plan on the Insureds during the term of this Agreement the Corporation agrees to provide additional annual compensation in the form of a bonus to the Insureds for a period of no more than 15 years in an amount equal to the applicable federal income taxes on the taxable economic benefit as a result of the premium payments by the Corporation plus an amount equal to the applicable federal income taxes on the aggregate bonuses.
Payment of Bonuses. The Company shall pay Employee the Bonuses due hereunder no later than March 15th of the year following the year in which it is earned, provided, however, that before the Company is obligated to make any payments of Bonuses under Paragraphs (b) or (c), the Company's Compensation Committee shall certify to the Board of Directors of the Company that the material terms and performance goals hereunder have been met, which determination shall be made by the Compensation Committee in its sole discretion.
Payment of Bonuses. Each of the bonuses described above will be paid: • in a lump sum, • in your regular payroll currency, • according to the Intel group’s standard payroll practices, • subject to tax withholding and other applicable deductions, • upon a regularly scheduled payroll date, • except as otherwise provided in Section 1(C) above, with respect to the retention bonuses, within thirty (30) days following the First Retention Date or the Second Retention Date, as applicable, and • except as otherwise provided in Section 2(C) above, with respect to the incentive bonuses, within sixty (60) days following the First Incentive Date or the Second Incentive Date, as applicable.
Payment of Bonuses. If the Agreement provides for the payment of an annual incentive bonus, the Agreement is hereby amended to include the following additional provision: “Notwithstanding anything in this Agreement to the contrary, unless otherwise subject to a valid deferral election, the Company shall pay any annual incentive bonus due to Employee no later than two and one-half (2.5) months following the end of the taxable year in which the Employee’s right to the bonus is no longer subject to a substantial risk of forfeiture (or if later, within two and one-half (2.5) months following the end of the Company’s taxable year in which the Employee’s right to the bonus is no longer subject to a substantial risk of forfeiture).”
Payment of Bonuses. At the earlier of such Employee's termination of employment (except termination for cause as defined in the CIC Severance Plan, which termination has no bonus entitlement) or April 1, 2002, Buyer shall pay to each Available Employee who is employed immediately prior to Closing, other than employees covered by a collective bargaining agreement or employees whose employment agreement or other individual agreement otherwise provides for such payment, a payment equal to a pro rata portion of such employee's target bonus, if any, under the Company's annual incentive bonus plan(s) in which such employee is a participant, for the portion of the bonus year that has elapsed from April 1, 2001 until the Closing Date.
Payment of Bonuses. To the extent Seller would otherwise have been required pursuant to Section 6.4(d) of the Merger Agreement to make any bonus payments in respect of any Transferred Employee had such Transferred Employee remained employed by Seller or Tribune, as applicable, following the Closing and as of the applicable payment date, Buyer shall make such payments to all such Transferred Employees as and when required to be paid pursuant to Section 6.4(d) of the Merger Agreement and otherwise perform all covenants of Seller thereunder in respect of such Transferred Employees, in each case, upon the terms and subject to the conditions set forth therein.
Payment of Bonuses. Payment of the Executive's Closing Bonus will be made as soon as practicable (but in no event more than thirty (30) days) after the Closing Date or, if the Closing Date has not occurred as of the Drop Dead Date, as soon as practicable (but in no event more than thirty (30) days) after the Drop Dead Date. Payment of the Executive's Post-Closing Bonus will be made as soon as practicable (but in no event more than thirty (30) days) after the Eighteen Month Anniversary Date.
Payment of Bonuses. Arbutus shall be responsible for, and shall pay, or shall cause to be paid, the amount of any bonus payment owing to each Transferred Employee pursuant to Arbutus’ bonus arrangements with such Transferred Employee for the period beginning on January 1, 2018 and ending on the Closing Date in the ordinary course of business at such time as annual bonuses have historically been paid by Arbutus to such Transferred Employee.
