Payment of Employee Bonuses. The parties acknowledge and agree that the bonuses to be paid by the Company to its employees for services provided during 2005 will be consistent with the past practices of the Company and will be accrued as a liability on the Estimated Closing Date Balance Sheet and Closing Date Balance Sheet based on the number of days elapsed during 2005 prior to the Closing Date. CLARCOR will cause the Company to pay the full amount of such 2005 bonuses to the employees of the Company following the Closing Date (except to the extent that any such employees are not employed by the Company as of the date of the payment of such bonuses).
Payment of Employee Bonuses. Parent shall, at or prior to the Closing, pay such amounts to such persons as are required under the Company's Incentive Bonus Plan, less any amounts required by applicable law to be withheld as provided in the Company's Incentive Bonus Plan; provided that (i) the Company has directed such payment in writing (including the 50 recipient's name, address and taxpayer identification number), (ii) such payments shall reduce the number of shares of Parent Common Stock to be issued by Parent in the Merger to Company Stockholders as contemplated by Section 7.8, and (iii) for those recipients set forth on SCHEDULE 7.20 hereof, each recipient has executed and delivered a release in the form of EXHIBIT C or EXHIBIT D hereto, as specified on such Schedule.
Payment of Employee Bonuses. Parent shall have paid or caused to be paid the Employee Bonuses as and to the extent set forth in Section 7.20 hereof.
Payment of Employee Bonuses. On or before Closing, Seller shall pay, or shall convey funds to the Company sufficient to pay, all bonuses owed to employees pursuant to the letter agreements identified on Section 3.22 of the Disclosure Schedule.
Payment of Employee Bonuses. Prior to the Closing Date, the --------------------------- Company shall have paid to each Company employee the amount set forth opposite his or her name on Schedule 5.15 and designated as the "Employee Bonus".
Payment of Employee Bonuses. Pursuant to Section 4.1 of the Merger Agreement, TheMaven hereby consents to the payment of bonuses to certain employees of the Company at the discretion of the Company in respect of the Company’s fiscal quarters ended March 31, 2018, in an aggregate amount not to exceed One Hundred Twenty Five Thousand Dollars ($125,000), and June 30, 2018, in an aggregate amount not to exceed Two Hundred Fifty Thousand Dollars ($250,000), respectively, in each case, payable no later than the Business Day immediately prior to the Closing Date.
Payment of Employee Bonuses. Prior to the Closing, the Company authorized the payment of cash bonuses to certain employees of the Company in the aggregate amount of $1,151,933.06 (the “Company Bonuses”), a copy of which schedule has been provided to the Buyer by the Company. The Sellers and the Company agree that Sellers will fund into the Company’s payroll account at the time of Closing $1,204,154.75, which amount is equivalent to the amount of the Company Bonuses and any employer side payroll Taxes payable by the Company on account of such Company Bonuses (such amount in excess of the Company Bonuses, the “Bonus Tax Amount”). The Sellers agree to cause the Company to pay the Company Bonuses (as reduced by any Taxes required to be withheld from such Company Bonuses) at the time of Closing. The parties agree that the Company Bonuses will be treated for tax purposes as having been paid by the Company during the period in which the Company was taxed as an S corporation.
Payment of Employee Bonuses. Prior to the Closing Date, the Company has authorized the payment of the Employee Bonuses as set forth in detail in Schedule 5.33. The Employee Bonuses will be paid on the Closing Date immediately prior to the Closing. In paying the Employee Bonuses, the Company has fully complied with all withholding, payroll, employment, social security and unemployment Tax requirements.
Payment of Employee Bonuses
