Stay Bonus Arrangement Sample Clauses

Stay Bonus Arrangement. The Sellers have caused, and will continue to cause, the applicable Company or the Operating Company to enter into agreements (the “Stay Bonus Letter”), the form of which has been provided to the Purchaser, providing stay bonuses (the “Stay Bonuses”) to the Key Atmospheric Gases Employees (as defined in the FTC Orders) and those Business Employees who, in the Sellers’ sole discretion, have been deemed to receive such a bonus for the continued operation of the Bulk Gas Business prior to the Closing, and the Purchaser shall cause the applicable Company or the Operating Company to honor such Stay Bonus Letter and pay such Stay Bonuses; provided, however, that in the event any such employees’ employment terminates, Sellers shall be permitted to provide the same Stay Bonus Letters to their replacements so long as such replacement employees obtained their positions through internal promotions or transfers (from the Companies, the Operating Company or any respective Affiliates). The amount of the Stay Bonus that will be provided to each Selected Employee will be no less than ten percent (10%) of the Selected Employee’s base salary and the aggregate amount of all Stay Bonuses shall not exceed $834,000. Each Selected Employee will receive payment of his or her respective stay bonus from the applicable Company or the Operating Company one (1) year after the Closing Date pursuant to the Stay Bonus Letter. For any Selected Employee whose employment is terminated prior to the Closing Date without cause, the Seller shall incur the costs of paying the applicable Stay Bonus (to the extent the Stay Bonus is not forfeited pursuant to the terms of the applicable Stay Bonus Letter). For any Selected Employee whose employment is terminated within one (1) year following the Closing Date without cause (a “Purchaser Terminated Employee”), the Purchaser shall incur the costs of paying the applicable Stay Bonus (to the extent the Stay Bonus is not forfeited pursuant to the terms of the applicable Stay Bonus Letter). For all other Selected Employees not described in the previous two sentences, the Purchaser shall cause the applicable Company or Operating Company to pay the applicable Stay Bonus (to the extent the Stay Bonus is not forfeited pursuant to the terms of the applicable Stay Bonus Letter), and the Sellers shall reimburse the Purchaser for 50% of all such Stay Bonuses promptly following payment thereof.
Sample 1
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Related to Stay Bonus Arrangement

  • Stay Bonus If the Executive is an active employee of the Company on the one-year anniversary (the "Anniversary Date") of the Effective Date, the Executive will be paid a bonus equal to $150,000.

  • Longevity Bonus After twenty (20) years of continuous service, an employee will receive a longevity bonus of seven hundred dollars ($700) per year, payable in one lump sum by the second pay period following the employee's anniversary date.

  • Special Bonus In addition to the Annual Base Salary and Annual Bonus payable as hereinabove provided, if the Executive remains employed with the Company or its affiliated companies through the first anniversary of the Effective Date, the Company shall pay to the Executive a special bonus (the "Special Bonus") in recognition of the Executive's services during the crucial one-year transition period following the Change of Control in cash equal to the sum of (A) the Executive's Annual Base Salary and (B) the Highest Annual Bonus. The Special Bonus shall be paid no later than 30 days following the first anniversary of the Effective Date.

  • Short-Term Incentive Compensation In addition to the foregoing Base Salary, the Executive shall be eligible during the Term to receive cash short-term incentive compensation, determined and payable in the discretion of the Compensation Committee of the Board. At least annually, the Compensation Committee shall consider awarding short-term incentive compensation to the Executive.

  • 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.

  • Long-Term Incentive Compensation Subject to the Executive’s continued employment hereunder, the Executive shall be eligible to participate in any equity incentive plan for executives of the Firm as may be in effect from time to time, in accordance with the terms of any such plan.

  • Retirement Bonus 22:01 Employees retiring in accordance with the following:‌ (a) Retire at age sixty-five (65) years; or (b) Retire after age sixty-five (65) years; or (c) Have completed at least ten (10) years continuous employment and retire after age fifty-five (55) years but before age sixty-five (65) years; (d) Employees who have completed at least ten (10) years continuous service with the Employer, whose age plus years of that service equal eighty (80); shall be granted retirement bonus on the basis of four (4) days per year of employment.

  • Separation Compensation In exchange for your agreement to the general release and waiver of claims and covenant not to sue set forth below and your other promises herein, the Company agrees to provide you with the following:

  • 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 The Executive shall be eligible for Bonuses determined by the Board.

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