Special Cash Bonus. Executive shall be entitled to a special bonus ("Special Bonus") equal to the product of (i) 250,000 and (ii) the lesser of (a) $2 and (b) the excess of the price of a Danka American Depository Share (ADS) at the close of trading on NASDAQ immediately following the expiration of the closed period over $4 5/16 which was the closing price of a Danka ADS on NASDAQ on January 14, 1999. Such Special Bonus shall be paid in installments in the same proportions as the options described in item 5 of this letter are exercised. For example, if options with respect to 50,000 shares from the options described in item 5 are exercised, 50,000/250,000 or 20% of the Special Bonus shall be paid at the time of such option exercise. As another example, if options with respect to all 250,000 shares described in item 5 of this letter are exercised at one time, 100% of the Special Bonus shall be paid at such time of exercise. The Special Bonus shall accrue no interest.
Special Cash Bonus when meeting the terms set forth in Section 9 to the Company's Compensation Policy (Special Cash Bonus), the Consultant shall be entitled to a bonus equivalent to 3 Monthly Fees, provided, however, that said bonus shall be received only once in one given year and further provided that the accumulated amount of the annual cash bonus for the CEO and the special cash bonus will not exceed twelve (12) times of the Consultant Monthly Fee in one given year".
Special Cash Bonus. On September 30, 2002, the Executive shall receive a cash payment of $3,000,000 (the "Special Cash Bonus"), provided that the Company has achieved at least fifteen percent (15%) growth in its net income from the prior annual period.
Special Cash Bonus. You shall be eligible to earn a one-time cash bonus of Two Million Dollars ($2,000,000) upon the North America Technology Products Group’s achievement of 4% operating margin target for two consecutive full fiscal years, with the first year being no later than the year ending December 31, 2014 (the “Special Cash Bonus”). This bonus is intended to reward improvement of the profitability of the existing business on a sustainable basis; accordingly, measurement of achievement will exclude revenues and expenses that are special, unusual non-recurring or one-time in nature (including, without limitation, those referenced in Section 10 of the Company’s 2010 Long Term Incentive Plan). Further, it is intended that revenues during the measurement period will be greater than as reported for fiscal 2011 (i.e., simply shutting down any lower margin segment of the business in order to achieve the operating margin target is not intended to be rewarded) and accordingly, notwithstanding stand alone operating margin performance, the Special Cash Bonus shall not be payable in respect of any period for which the Company’s revenues are not at least greater than the level of such revenues for the comparable prior year period. The achievement of such objectives shall be determined by the Compensation Committee of the Board (the “Compensation Committee”) in its discretion (and due to the adjustments referenced above shall not be based on the Company’s publicly reported operating margin results) and if earned, shall be paid by the Company to you within 75 days following the end of the year during which the objective was met. In determining operating margin for purposes of the Special Cash Bonus, the Special Cash Bonus shall be excluded as an expense.
Special Cash Bonus. In connection with Executive’s commencement of employment with the Company, the Company will pay to Executive a one-time cash bonus in an amount equal to $800,000.00 (the “Special Bonus”) in a single lump sum amount within thirty (30) days following the Effective Date. In the event of Executive’s resignation without Good Reason (as defined herein) or termination by the Company for Cause (as defined herein), in either case, within twelve (12) months following the Effective Date, Executive shall promptly (but no more than ten (10) days after the date of such termination of employment) repay to the Company an amount equal to (x) the aggregate amount of the Special Bonus multiplied by (y) a fraction, the numerator of which is the number of whole calendar days remaining from the date of Executive’s termination of employment through (and including) the first anniversary of the Effective Date, and the denominator of which is 365.
Special Cash Bonus. On or before December 31, 2007, TPR shall pay Xxxxxxx a one-time cash bonus (the “Special Bonus”) of $350,000 (from which shall be deducted taxes and all other applicable withholdings), in recognition of responsibilities as President of TPR’s Test Preparation Division and his new responsibilities serving as Chief Operating Officer and otherwise.
Special Cash Bonus. On the third anniversary of the Effective Date (or, if applicable, on the date specified in Section 10) (the "Payment Date") you will be paid a "Special Cash Bonus" if: 4
Special Cash Bonus. Assumptions 1,500,000 Share Option has $3.00 exercise price Closing price @ 1-year anniversary, and for preceding 10 trading days, is $4.00 Closing price @ 2-year anniversary, and for preceding 10 trading days, is $5.00 Closing price @ 3-year anniversary, and for preceding 10 trading days, is $6.00 Threshold Conditions to Payment of Special Cash Bonus - Average closing price over last 10 trading days in 3-year term is less than $7.67 ($4.67 plus $3.00) - During each and every 10 trading day period that occurs in an open officers trading window, the average closing price is less than $7.67. - No hedging transactions - Employed on a full-time basis @ 3 year anniversary.
Special Cash Bonus. Executive shall be entitled to receive a one-time special cash bonus of up to $160,000 based upon Executive’s assistance and support in raising equity capital for the Company, at an exact amount to be determined by the Compensation Committee. Such amount shall be excluded from any performance-based compensation payable to the Executive based on achievement of the Company’s 2009 Performance Goals.
Special Cash Bonus. A new Section 8(j) is hereby added to the Employment Agreement, effective as of the Amendment Date: “Executive is eligible to receive (1) a special, one-time bonus equal to $250,000, contingent upon the completion of a private offering of the Company’s common stock generating gross proceeds of $50 million or more (the “Private Offering”) and (2) a special, one-time bonus equal to $250,000, contingent upon the completion of the IPO (each a “Special Cash Bonus”). Any Special Cash Bonus to which Executive becomes entitled will be paid to Executive, subject to Executive’s continued employment with the Company through the completion date of the Private Offering and the IPO, respectively, in a cash lump sum on the first regular payroll date following the respective completion date.”
