SUPPLEMENTAL BONUSES Sample Clauses

SUPPLEMENTAL BONUSES. In connection with and as consideration for their cessation of participation in Continental's benefit programs in general and as contemplated herein, Continental shall reimburse Holdings for amounts paid as supplemental bonuses to its officers under their respective employment agreements entered into in connection with the IPO.
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SUPPLEMENTAL BONUSES. The Employee shall also receive from the Employer on a non-discretionary basis the following supplemental bonuses (the "Supplemental Bonuses"): (i) (A) For the period November 1, 1996 through October 31, 1997 the Employee shall be paid an amount equal to five (5%) PERCENT OF THE FIRST $1,000,000, or part thereof, by which Actual EBIT exceeds $8,100,000, plus six (6%) percent of the amount by which Actual EBIT exceeds $9,100,000. Said amount shall be paid in full within fifteen (15) business days from the date the applicable financial statements have been released by the Employer.
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SUPPLEMENTAL BONUSES. The Employee shall also receive from the Employer on a non-discretionary basis the following supplemental bonuses (the "Supplemental Bonuses"): (A) If the Actual EBIT of the Employer for the year November 1, 1996 through October 31, 1997 shall equal at least $8,100,000 Employee shall be paid $50,000. If Actual EBIT shall equal at or exceed $9,100,000, the Employee shall be paid additional the sum of $25,000 plus two AND ONE-HALF (2 1/2%) percent of the amount by which Actual EBIT exceeds $9,100,000. Said amounts shall be paid in full within fifteen (15) business days from the date that the applicable financial statements have been released by the Employer. (B) Prior to October 31, 1997 and October 31, 1998, respectively, Isaac Gaon, or any otxxx duly authorized officer of the Employer, and the Employee shall in good faith negotiate projected EBIT ("Projected EBIT") for the years of the term hereof ended October 31, 1998 and October 31, 1999, respectively, said projections to include quarterly projections for each such year. In each year that Actual EBIT equals or exceeds Projected EBIT, the Employee shall be paid $50,000, and in each year that Actual EBIT exceeds the Projected EBIT for such year by at least $1,000,000, the Employee shall be paid the additional sum of $25,000, plus two and one-half (2 1/2%) percent of the amount by which Actual EBIT exceeds $1,000,000 in excess of Projected EBIT for such year. Said amounts shall be paid at the time set forth in ss.4(c)(1)(A). (A) If Actual EBIT for the year November 1, 1996 through October 31, 1997 equals or exceeds $8,100,000, the Employee shall receive options to purchase 50,000 shares of Glasgal common stock, $.001 par value (the "Stock"), plus options to purchase such number of additional shares of Stock equal to five (5%) percent of the Actual EBIT in excess of $8,100,000. For example, if Actual EBIT at October 31, 1997 were $9,100,000, the Employee would receive 50,000 options to purchase Stock plus 50,000 options to purchase Stock computed as follows: 50,000 + (5% x $9,100,000 - $8,100,000 = 50,000 + (5% x 1,000,000) = 50,000 + 50,000 = 100,000 options. (B) If in each of the years ending October 31, 1998 and October 31, 1999, the Employer's Actual EBIT equals or exceeds the Projected EBIT for such year, the Employee shall receive options to purchase 50,000 shares of Stock plus such number of additional options equal to five (5%) percent of the difference, if any, between Actual EBIT and Projected EBI...
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SUPPLEMENTAL BONUSES. If the sum of (i) Executive's base salary, -------------------- (ii) Executive's bonus pursuant to Section 2.2 of this Agreement and (iii) the Spread (as defined below) on the portion of Executive's Option which has vested as of February 19, 2000 in accordance with the schedule set forth in Section 2.3 of this Agreement (items (i), (ii) and (iii) collectively, the "FIRST YEAR COMPENSATION PACKAGE") is less than $900,000 at all times during the period beginning on February 19, 2000 and ending April 15, 2000 (the "FIRST MEASUREMENT PERIOD"), the Company shall pay Executive at the end of the First Measurement Period a cash bonus equal to the difference between the highest value of the First Year Compensation Package during the First Measurement Period and $900,000 (the "FIRST SUPPLEMENTAL BONUS"), provided Executive is employed by the Company on the last day of the First Measurement Period. Notwithstanding the foregoing, if at any time during the period beginning on April 15, 2000 and ending December 31, 2000 (the "ADJUSTMENT PERIOD"), (i) the value of Executive's First Year Compensation Package exceeds its highest value during the First Measurement Period and (ii) Executive has not sold the stock subject to the portion of his Option which had vested as of February 19, 2000, then an amount equal to the difference between (i) the highest value of the First Year Compensation Package during the Adjustment Period and (ii) the highest value of the First Year Compensation Package during the First Measurement period shall be deducted from Executive's bonus for fiscal year 2001, provided that such deduction shall in no event exceed the amount of the First Supplemental Bonus. For purposes of this Section 2.4, the term "SPREAD" shall mean the difference between the exercise price of Executive's Option and the fair market value (as defined in the 1999 Equity Incentive Plan) of the Company's Common Stock on the date of determination. If the sum of (i) Executive's salary, (ii) Executive's bonus pursuant to Section 2.2 of this Agreement and (iii) the Spread on the portion of Executive's Option which has vested after February 19, 2000 in accordance with the Schedule set forth in Section 2.3 of this Agreement (items (i), (ii) and (iii) collectively, the "SECOND YEAR COMPENSATION PACKAGE") is less than $900,000 at all times during the period beginning February 19, 2000 and ending February 18, 2001 (the "SECOND MEASUREMENT PERIOD"), the Company shall pay Executive on or before...
Sample 1
SUPPLEMENTAL BONUSES. (i) Provided that Executive remains employed by the Company through October 31, 2018, Executive shall receive a supplemental bonus equal to $150,000.00 (the “First Supplemental Bonus”), less normal withholdings, with such First Supplemental Bonus to be paid on the Company’s next regularly-scheduled payroll date following October 31, 2018. (ii) Provided that Executive remains employed by the Company through the earlier of December 31, 2018 or the consummation of a Change in Control as defined herein, Executive shall receive a supplemental bonus equal to $200,000.00 (the “Second Supplemental Bonus”), less normal withholdings, with such Second Supplemental Bonus to be paid within thirty (30) days following the occurrence of the earlier of the above-described events. 5. Except as expressly set forth in this Amendment, the provisions of the Employment Agreement shall remain in full force and effect, in their entirety, in accordance with their terms. 6. This Amendment contains the entire agreement between the Company and Executive with respect to the subject matter hereof and, from and after the Effective Date, this Amendment shall supersede any other agreement between the parties with respect to the subject matter hereof. This Amendment is personal to Executive and shall not be assignable by Executive. This Amendment shall inure to the benefit of and be enforceable by Executive’s legal representatives. This Amendment shall be governed by and construed in accordance with the laws of the Commonwealth of Massachusetts, without reference to principles of conflict of laws. The captions of this Amendment are not part of the provisions hereof and shall have no force or effect. This Amendment may not be amended or modified otherwise than by a written agreement executed by the parties hereto or their respective successors and legal representatives. The invalidity or unenforceability of any provision of this Amendment shall not affect the validity or enforceability of any other provision of this Amendment. Executive’s or the Company’s failure to insist upon strict compliance with any provision of this Amendment or the failure to assert any right Executive or the Company may have hereunder, shall not be deemed to be a waiver of such provision or right or any other provision or right of this Amendment. The Company may withhold from any amounts payable under this Amendment such Federal, state, local or foreign taxes as shall be required to be withheld pursuant to any applic...
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Related to SUPPLEMENTAL 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.

  • Recovery of Bonus and Incentive Compensation Any bonus and incentive compensation paid to you during a CPP Covered Period is subject to recovery or “clawback” by the Company if the payments were based on materially inaccurate financial statements or any other materially inaccurate performance metric criteria.

  • Bonus and Incentive Compensation Executive shall be entitled to equitable participation in incentive compensation and bonuses in any plan or arrangement of the Bank or the Company in which Executive is eligible to participate. Nothing paid to Executive under any such plan or arrangement will be deemed to be in lieu of other compensation to which Executive is entitled under this Agreement.

  • 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.

  • 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.

  • Annual Incentive Compensation Executive shall be eligible to receive an annual bonus (“Annual Bonus”) with respect to each fiscal year ending during the Employment Period. The Annual Bonus shall be determined under the 2006 Omnibus Incentive Plan (the “Omnibus Plan”) or such other annual incentive plan maintained by the Company for similarly situated employees that the Company designates, in its sole discretion (any such plan, the “Bonus Plan”), in accordance with the terms of such plan as in effect from time to time. For each such fiscal year, Executive shall be eligible to earn a target Annual Bonus equal to seventy percent (70%) of Executive’s Base Salary for such fiscal year, if the Company achieves the target performance goals established by the Board for such fiscal year in accordance with the terms of the Bonus Plan. If the Company does not achieve the threshold performance goals established by the Board for a fiscal year, Executive shall not be entitled to receive an Annual Bonus for such fiscal year. If the Company exceeds the target performance goals established by the Board for a fiscal year, Executive may be entitled to earn an additional Annual Bonus for such year in accordance with the terms of the applicable Bonus Plan. The Annual Bonus for each year shall be payable at the same time as bonuses are paid to other senior executives of the Company in accordance with the terms of the applicable Bonus Plan, but in no event later than two and a half (21/2) months following the end of the applicable fiscal year in which such Annual Bonus was earned. Executive shall be entitled to receive any Annual Bonus that becomes payable in a lump-sum cash payment, or, at his election, (A) up to fifty percent (50%) of the Annual Bonus in the form of a grant of restricted stock units of Common Stock (as defined below) or (B) in any form that the Board generally makes available to the Company’s executive management team, provided that any such election is made by Executive in compliance with Section 409A of the Code and the regulations promulgated thereunder.

  • 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.

  • Cash and Incentive Compensation (a) All payments referenced in this Agreement are subject to applicable tax withholdings and authorized or required deductions.

  • 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.

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