Sale Bonuses Sample Clauses

Sale Bonuses. The portion of the Sale Bonuses due at Closing shall be paid promptly after the Closing by the Company to the recipients (less applicable Tax withholdings) as part of its normal payroll process. The remaining portions of the Sale Bonuses shall be paid by the Company to the recipients when earned in accordance with their terms (less applicable Tax withholdings) as part of its normal payroll process. Any portion of the Sale Bonuses that is not earned shall be paid by the Company to the Seller promptly (and, in any event, within ten days) following the determination it will not be earned. The Company shall not amend, modify or waive any provision of the Sale Bonus letters issued to the recipients of Sale Bonuses without the prior written consent of the Seller.
Sample 1Sample 2
AutoNDA by SimpleDocs
Sale Bonuses. The Company does not have any obligation to pay any bonuses or award any compensation or other rights to payment to any Person, which may be contingent upon or triggered by the consummation of the transactions contemplated by this Agreement.
Sample 1
Sale Bonuses. (a) Pursuant to a Termination of Sale Bonus/Change of Control Agreement between TQI and Xxxxx Xxxxxxxxxx, dated as of the date hereof, immediately after the Closing, the Company shall cause TQI to pay to Xxxxx Xxxxxxxxxx an amount equal to $200,000 (the “Sale Bonus Payment”). (b) Pursuant to the written direction of HCI and/or Co-Investors, immediately after the Closing, the Company shall cause TQI to pay to Xxxx Xxxxxx an amount equal to $60,000 (such amount to be deducted from the amount otherwise payable to HCI and/or Co-Investors under this Agreement), which payment shall be made through a special payroll distribution.
Sample 1
Sale Bonuses. Neither the Company nor any of its Subsidiaries has any obligation to pay any bonuses or award any compensation or other rights to payment contingent upon or coincident with the consummation of the Contemplated Transactions (“Sale Bonuses”) to any Person.
Sample 1
Sale Bonuses. The term “Sale Bonuses” shall mean the aggregate amount of (i) all transaction, sale and change of control bonuses and similar payments, (ii) all payments in respect of stock appreciation, phantom stock or similar rights and (iii) all deferred cash compensation payable to employees of the Company.
Sample 1
Sale Bonuses. Schedule 2.28 (the “Sale Bonus Schedule”) sets forth: (a) each employee of the Company Entities or other individual entitled to receive a Sale Bonus (collectively, the “Sale Bonus Recipients”), (b) the accurate amount of Sale Bonus payable to each such Sale Bonus Recipient, and (c) the aggregate amount of Sale Bonuses payable to all Sale Bonus Employees, collectively. The Sale Bonuses set forth in Schedule 2.28 (the “Scheduled Sale Bonuses”) constitute all of the Sale Bonuses payable by Seller and each Company Entity and no Sale Bonuses will remain unpaid or be payable after the payment of all of the Scheduled Sale Bonuses.
Sample 1
Sale Bonuses. (i) At the Closing, the Company shall pay to each Sale Bonus Recipient a cash bonus in the amount set forth across from such Bonus Recipient’s name on Schedule II (the “Sale Bonuses”). The Sale Bonuses shall be made through the Company’s payroll system and the Company shall deduct and withhold, or cause to be deducted and withheld, from such payments such amounts as are required to be deducted and withheld with respect to such payments under the Code, or any provision of applicable U.S. federal, state, local or foreign Tax laws, including the employee’s share of FICA taxes and any applicable state, local or foreign payroll Taxes normally imposed on an employee with respect to compensation. To the extent that such amounts are so deducted and withheld, such deducted and withheld amounts shall be treated for all purposes of this Agreement as having been paid to the Sale Bonus Recipients in respect of which such deduction and withholding was made. For the avoidance of doubt, the Sale Bonuses (A) shall be deemed made on the Closing Date and any corresponding Tax deductions shall be allocated to the taxable period (or portion thereof) ending on the Closing Date and (B) shall be includible in each Sale Bonus Recipient’s income on the Closing Date.
Sample 1
AutoNDA by SimpleDocs

Related to Sale Bonuses

  • 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.

  • Cash Bonuses The Chief Executive Officer shall determine the Executive’s right to receive cash bonuses. Cash bonuses shall be awarded annually based upon the Executive’s and the Company’s annual performance pursuant to the Company’s policy. 5.

  • Incentive Bonuses After the Company attains profitability, the Employee shall be eligible to be considered for an annual incentive bonus. Such bonus (if any) shall be awarded based on objective or subjective criteria established in advance by the Board or its Compensation Committee. The determinations of the Board or its Compensation Committee with respect to such bonus shall be final and binding. Except as expressly provided in this Agreement, the Employee shall not be entitled to an incentive bonus if he is not employed by the Company on the date when such bonus is payable.

  • Retention Bonuses Provided Executive becomes and remains an active employee of Mercantile, Mercantile will pay Executive retention bonuses in accordance with the following schedule: (i) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following the Effective Time, (ii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following six (6) months of Executive’s employment with Mercantile, (iii) $42,750.00 [25% of salary and target incentive compensation], to be paid on the first payroll period following twelve (12) months of Executive’s employment with Mercantile. After twelve (12) months of Executive’s employment with Mercantile, Executive will not be entitled to any further Severance or Retention benefits. The above-listed payments and benefits are in lieu of any and all payments and benefits to which Executive may otherwise have been entitled under the CIC Agreement or any other agreement or practice.

  • Performance Bonuses The Executive will be eligible to receive an annual cash bonus at an annualized rate of up to 40% of his base salary, based on the achievement of reasonable individual and Company performance targets to be established by the Company and Parent.

  • Bonuses Executive shall be entitled to participate in discretionary bonuses or other incentive compensation programs that the Company and the Bank may award from time to time to senior management employees pursuant to bonus plans or otherwise.

  • 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.

  • Bonus Payments No employee shall be required or requested to make any written or verbal agreement that will conflict with the terms of this Agreement. All employees must be paid weekly for all hours worked as provided in this Agreement. Any bonuses, commissions or other methods of payments over and above the requirements of this Agreement shall be in addition to the requirements of this Agreement and may not be used to offset such contractual requirements and shall not be subject to negotiations.

  • 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.

  • Bonus Amount For purposes of this Agreement, "Bonus Amount" shall mean the greater of (a) the target annual bonus payable to the Executive under the Incentive Plan in respect of the fiscal year during which the Termination Date occurs or (b) the highest annual bonus paid or payable under the Incentive Plan in respect of any of the three full fiscal years ended prior to the Termination Date or, if greater, the three (3) full fiscal years ended prior to the Change in Control.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!