Specified Annual Bonus Amounts Sample Clauses

Specified Annual Bonus Amounts. Seller shall deliver to Buyer, no later than four (4) Business Days prior to Closing, an updated version of Schedule 1.1(a)(ii) for purposes of reflecting a more accurate estimate of the pro rata amount of bonuses that would be payable to the Assumed Employees for fiscal year 2015 if the Company’s and its Subsidiaries’ performance through the Closing Date (but excluding the effect of the Transaction) were continued for the balance of fiscal year 2015. Subject to Buyer’s approval of such updated Schedule (not to be unreasonably withheld, conditioned or delayed), such updated Schedule 1.1(a)(ii) shall replace the Schedule 1.1(a)(ii) attached hereto as of the date of this Agreement and such updated Schedule 1.1(a)(ii) shall be deemed to be Schedule 1.1(a)(ii) hereto for all purposes hereunder.
Sample 1
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Specified Annual Bonus Amounts. (a) If the Closing Date occurs during 2016: (i) The Seller shall deliver to the Buyer, no later than three Business Days prior to Closing, an updated version of Schedule 1.1(a) for purposes of reflecting a more accurate estimate of the bonuses that would be payable to the Assumed Employees for fiscal year 2016. Subject to the Buyer’s approval of such updated Schedule (not to be unreasonably withheld, conditioned or delayed), such updated Schedule 1.1(a) shall replace the Schedule 1.1(a) attached hereto as of the date of this Agreement and such updated Schedule 1.1(a) shall be deemed to be Schedule 1.1(a) hereto for all purposes hereunder. (ii) The Buyer shall cause the Company or its applicable Subsidiaries to pay to each Assumed Employee listed on Schedule 1.1(a) the annual bonus to which each such Assumed Employee is entitled for fiscal year 2016, if any (such an amount with respect to such Assumed Employee, the “Actual Annual Bonus Amount”). If the Actual Bonus Amount is less than the Specified Annual Bonus Amount, the Buyer shall, or shall cause the Company to, refund to the Seller an amount equal to (A) the Specified Annual Bonus Amount for such Assumed Employee minus (B) (1) the Actual Annual Bonus Amount plus (2) the amount of the employer portion of any Taxes associated with the payment of the Actual Annual Bonus Amount, if any. If the Actual Bonus Amount is more than the Specified Annual Bonus Amount, the Seller shall pay to the Buyer an amount equal to the absolute value of (A) the Specified Annual Bonus Amount for such Assumed Employee minus (B) (1) the Actual Annual Bonus Amount plus (2) the amount of the employer portion of any Taxes associated with the payment of the Actual Annual Bonus Amount, if any. The Seller shall, and the Buyer shall, or shall cause the Company or its applicable Subsidiaries to, pay or refund all amounts payable to the Buyer or the Seller pursuant to this Section 7.6(a)(ii) promptly, and in any event within 30 days, following the Buyer’s and the Company’s payment of the Actual Annual Bonus Amounts for all of the Assumed Employees listed on Schedule 1.1(a). Any refund payments required to be made pursuant to this Section 7.6(a)(ii) shall be made by wire transfer of immediately available funds to an account designated in writing by the Seller or the Buyer, as applicable. (b) If the Closing Date occurs in 2017, the Seller shall pay the Actual Annual Bonus Amount and the amount of the employer portion of any Taxes associate...
Sample 1

Related to Specified Annual Bonus Amounts

  • 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.

  • Annual Bonus In addition to Annual Base Salary, Executive shall be awarded, for each fiscal year ending during the Employment Period, an annual bonus (the “Annual Bonus”) in cash at least equal to Executive’s highest annual bonus for the last three full fiscal years prior to the Effective Date (annualized in the event that Executive was not employed by the Company for the whole of such fiscal year). Each such Annual Bonus shall be paid no later than the end of the third month of the fiscal year next following the fiscal year for which the Annual Bonus is awarded, unless Executive shall elect to defer the receipt of such Annual Bonus.

  • Annual Bonus Opportunity Your annual target bonus opportunity following the Effective Date will be 50% of your annual base salary (the “Target Bonus”). The Target Bonus shall be subject to review and may be adjusted based upon the Company’s normal performance review practices. Your actual bonuses shall be based upon achievement of performance objectives to be determined by the Board in its sole and absolute discretion. Bonuses will be paid as soon as practicable after the Board determines that such bonuses have been earned, but in no event will a bonus be paid to you after the later of (i) the fifteenth (15th) day of the third (3rd) month following the close of the Company’s fiscal year in which such bonus is earned or (ii) March 15 following the calendar year in which such bonus is earned.

  • Cash Bonus Executive shall be entitled to a fraction of any Cash Bonus for the fiscal year of the Company within which Executive’s termination of employment occurs which, based upon the criteria established for such Cash Bonus, would have been payable to Executive had he remained employed through the date of payment, the numerator of which is the number of days of such fiscal year prior to his termination of employment and the denominator of which is three hundred and sixty-five (365); and

  • 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.

  • 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.

  • Annual Cash Bonus During the Term, Executive may be eligible to receive an annual cash bonus, on terms and conditions as determined by the Committee in its sole discretion taking into account Company and individual performance objectives.

  • Bonus Payment Executive will receive a lump-sum payment equal to one hundred fifty percent (150%) of the higher of (A) the greater of (x) Executive’s target bonus for the fiscal year in which the Change of Control occurs (as in effect immediately prior to the Change of Control) or (y) Executive’s target bonus as in effect for the fiscal year in which Executive’s termination of employment occurs, or (B) Executive’s actual bonus for performance during the calendar year prior to the calendar year during which the termination of employment occurs. For avoidance of doubt, the amount paid to Executive pursuant to this Section 3(b)(iii) will not be prorated based on the actual amount of time Executive is employed by the Company during the fiscal year (or the relevant performance period if something different than a fiscal year) during which the termination occurs.

  • 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.

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