Termination Bonus. “Termination Bonus” shall mean an amount equal to the product of (a) the Target Bonus and (b) the fraction derived (expressed as a decimal) by dividing (1) the number of days in the year that preceded the date of termination by (2) 365.
Termination Bonus. If an Employee's employment terminates by reason of death, disability, retirement or termination by the Corporation other than under Section 17(b) hereof, the Corporation shall pay to such Employee in consideration of his/her prior services to the Corporation a termination bonus equal to 100% of such Employee's share of the aggregate retained earnings for all completed fiscal years of the Corporation during which such Employee was a Shareholder prior to the date of termination. If an Employee's employment terminates for any other reason, the Corporation shall pay to such Employee in consideration of his/her prior services to the Corporation a termination bonus equal to 50% of such Employee's share of the aggregate retained earnings for all completed fiscal years of the Corporation during which such Employee was a Shareholder prior to the termination date. Each Employee's share of the retained earnings of the Corporation shall be equal to the excess if any of the total of such Employee's share of the increase in retained earnings (net of taxes and dividends declared by the Board of Directors) of the Corporation for each fiscal year in which the Corporation had such an increase in retained earnings and such Employee was a Shareholder over the total of such Employee's share of any decrease in retained earnings (whether such decrease is a result of losses, taxes or dividends declared by the Board of Directors) of the Corporation for each fiscal year in which the Corporation experienced such a decrease in retained earnings and such Employee was a Shareholder. Promptly after each fiscal year of the Corporation, the Board of Directors shall determine each Employee's share of such increase or decrease in retained earnings for such fiscal year in the same manner it determines bonuses for Employees who are Shareholders. The Board of Directors shall report the determination thereof and the cumulative effect of such determination on all prior determinations to the Employee no later than three months following the end of each fiscal year. In the event the Corporation's increase or decrease in retained earnings for any fiscal year is adjusted after the Board of Director's initial determination of any Employee's share and before payment thereof, the Board of Directors may redetermine such Employee's share of the increase or decrease in retained earnings for the fiscal year of the adjustment in a reasonable manner to take into account such adjustment. The Board of Directo...
Termination Bonus. Executive shall become entitled to receive an amount equal to two hundred percent (200%) of the annual target bonus in effect for Executive for the year in which Executive’s Involuntary Termination occurs (the “Termination Bonus”). Such amount shall be paid in a lump sum on the first business day, within the sixty (60)-day period measured from the later of (i) the date of Executive’s Separation from Service due to such Involuntary Termination or (ii) the closing date of the Change in Control, on which the Release is effective, unless a further deferral is required pursuant to Part Five - 3 of this Agreement. The payment shall be subject to the Corporation’s collection of all applicable withholding taxes, and Executive shall receive only the net amount remaining after such taxes have been collected. In no event shall any Termination Bonus be paid unless the Change in Control transaction is in fact consummated.
Termination Bonus. Upon termination, an employee may be eligible to receive a portion of his/her accumulated sick leave. Eligibility is determined by the employee’s years of service and qualification for a pension as described below. The following benefits are mutually exclusive.
Termination Bonus. Upon the termination of Officer's employment ----------------- hereunder for any reason other than Cause (including, without limitation, death, Disability, Good Reason, voluntary termination and nonrenewal or expiration of this Agreement), the Employer shall owe to Officer a one-time termination bonus of $1,000,000, in addition to any other amounts or benefits payable to Officer under Section 5. Employer shall pay such bonus to Officer as soon as practicable after the date of such termination.
Termination Bonus. Where the Executive is entitled to a Termination Bonus as a result of the operation of Sections 3.2(b), 3.3, 3.4, or 3.5, the Termination Bonus shall be calculated as:
Termination Bonus. “Termination Bonus” shall mean fifty percent (50%) of the Executive’s Annual Base Salary.
Termination Bonus. In the event of the termination of the Employee’s employment with the Company for the reasons described in Section 4(b) of this Agreement, the Employee will receive payment of the Employee’s Termination Bonus, subject to the release requirements described in such Section. In the event of the termination of the Employee’s employment with the Company for the reasons described in Section 4(c) of this Agreement, the Employee will receive payment of two (2) times the Employee’s Termination Bonus, subject to the release requirements described in such Section. In the event of the termination of the Employee’s employment with the Company for the reasons described in either Sections 4(e) or 4(f) of this Agreement, the Employee (or her estate) will receive payment of a pro rata portion of the Employee’s Termination Bonus, with the pro ration determined based upon a fraction, the numerator of which is the number of days in the current fiscal year in which the Employee was employed by the Company through the date of termination, and the denominator of which is 365.
Termination Bonus. 1. .Mr. Sonder receives a termination bonus for his long activities fox Xxxanese AG at the end of his Service Agreement in the amount of two annual remuneration payments (hereinafter referred to as the "TERMINATION BONUS").
Termination Bonus. 7.1 The PTI Termination Bonus Plan will be eliminated as of the Effective Time.
