Special Incentive Bonus. If Employee remains in the employment of MEMC continuously throughout the Retention Period of April 1, 1998 through June 30, 1999, Employee shall be entitled to a Special Incentive Bonus in the amount of $250,000.
Special Incentive Bonus. Within 30 days after the date of this Agreement, the Employee and the Board, or its designee, will agree on the terms of a mutually acceptable special incentive bonus for the Employee.
Special Incentive Bonus. As a special incentive bonus in connection with the Monetization Project, if successfully completed, you would be entitled to receive 5% of the aggregate gross monetization proceeds to the Company, the first one-third of which would be payable in the Company’s common shares (the “Special Bonus Shares”) issuable under the Company’s 2006 Equity Incentive Plan (the “Plan”). You will vest in the Special Bonus Shares upon the Company entering into a definitive agreement for the purposes of monetization, provided that you are providing services to the Company at the time such definitive agreement is entered into, and in that case such Special Bonus Shares will be earned and payable when vested. The number of Special Bonus Shares will be determined by dividing the cash equivalent of the one-third of the 5% of the gross monetization proceeds set forth in such definitive agreement or plan of arrangement by the closing trading price per share on the Nasdaq Capital Market (or such other market on which the Company’s common shares are then traded) on the day before the date of determination. The remaining two-thirds of the special incentive bonus will be payable in cash upon successful completion of the Monetization Project and the receipt by the Company of the total monetization proceeds in one or more tranches, pro rata, if such proceeds are received in one or more tranches by the Company. This remaining two-thirds cash portion of the special incentive bonus will be payable if you are continuing to perform services for the Company on the Monetization Project, even if you are not an employee at the time such total monetization proceeds are received, except in the event of your prior termination for Cause (as defined in the Plan). Notwithstanding anything else herein to the contrary, the vesting of the Special Bonus Shares (but not of any other portion of the special incentive bonus) will be accelerated by the Board of Directors in the event that the Board of Directors determines that, despite your efforts and contribution to the preparation, negotiation and implementation of the Monetization Project, the transaction is not completed and no definitive agreement or plan of arrangement is entered into, provided that all of the following conditions are met: (i) the definitive agreement is not executed due to an event or events outside of your control, such as changes in the applicable Canadian tax laws resulting in the inability to monetize tax losses, unforeseen bankrup...
Special Incentive Bonus. The Executive shall be entitled to a bonus of $250,000.00 payable (A) 50% upon completion of the above-referenced $5 million financing(s) during the Measurement Period and (B) the remaining $125,000.00 upon the successful completion of additional debt or equity financing(s) during the Measurement Period which, when aggregated with any prior financings during the Measurement Period, result in the Employer realizing at least $10 million of gross proceeds.
Special Incentive Bonus. Provided that this Employment Agreement or Employee's employment hereunder shall not have been terminated for any reason during the period six (6) months after the Commencement Date, Employee shall be eligible for a special incentive bonus of up to $7,500 (the "Incentive Bonus"), based upon goals mutually agreeable to the Chairman and Employee, which Incentive Bonus shall be paid to Employee on the date that is six (6) months after the Commencement Date.
Special Incentive Bonus. As a completely independent incentive plan and notwithstanding any limitation set forth in subparagraph (i) of this Paragraph 7(b), if at any time on or before April 15, 2005 and while Executive is employed by Employer in the capacity of President and Chief Executive Officer:
(1) The price of Humboldt Bancorp stock closes at over $16.00 per share for thirty (30) consecutive days, Executive will receive a cash bonus of $100,000;
(2) The price of Humboldt Bancorp stock closes at over $21.00 per share for thirty (30) consecutive days, Executive will receive a further cash bonus of $100,000;
(3) The price of Humboldt Bancorp stock closes at over $26.00 per share for thirty (30) consecutive days, Executive will receive a further cash bonus of $100,000; provided, however, that each of the Humboldt Bancorp stock closing prices set forth in subparagraphs (1), (2) and (3) above will be adjusted for any stock split or stock dividend which may occur between the date of this Agreement and the date of the applicable bonus; and provided further, that in the event of a change of control of Humboldt Bancorp which results in the per share value of Humboldt Bancorp stock exceeding one or more of the closing prices set forth in subparagraphs (1), (2) and (3) above, the bonus(es) applicable to such price(s) will be granted immediately upon the effective date of such change in control and the requirement hereinabove set forth for a 30-day period of maintenance of stock price level at or above the stated level shall be waived. As an example only, if, at a time when the value of Humboldt Bancorp stock has never reached the price of $16.00 per share and maintained that price for 30 consecutive days, a tender offer is made and accepted for the purchase of Humboldt Bancorp for $23.00 per share, on the effective date of the change of control Executive would be entitled to a bonus of $200,000. The method and timing of payment of any Special Incentive Bonus set forth in this subparagraph (ii) may be agreed upon between Executive and the Board of Directors at the time of its grant, if and when that occurs; provided, however, that in the event no agreement can be reached within 45 days of such grant, the bonus shall be paid to Executive, at Executive's option, (a) immediately in a single installment, or (b) in equal monthly installments over the immediately succeeding twelve (12) months.
Special Incentive Bonus. Subject to the terms and conditions of this Agreement, and so long as Employee remains continuously employed as an employee by the Company through November 30, 2010, Company shall pay to Employee a one-time cash bonus in the amount of up to $275,000.00 (the “Incentive Bonus”). No Incentive Bonus shall be payable if Employee’s employment is terminated prior to November 30, 2010 for the following reasons: Employee’s death, Employee’s disability, termination by the Company with cause or voluntary termination by Employee.
Special Incentive Bonus. Executive will continue to be entitled to receive the Special Incentive Bonus as provided in Section 3 of the Agreement.
Special Incentive Bonus. Subject to your continued employment with NNI until the Termination Date (or the Extended Termination Date, if applicable), you will be eligible to receive a special incentive bonus of up to $3.47 million (the “Special Incentive Bonus”) as follows:
Special Incentive Bonus. Upon signing of this Agreement, Executive will receive a one-time cash bonus equal to one month gross base compensation ($7,000).
